Popular tags: Support, Resistance, Trend, Range, Fibonacci, Wave, Divergence, Multi time frames(MTF), Swing, Volume, Overbought, Oversold
 


3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS

3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS
3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS 3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS 3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS 3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS 3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS 3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS 3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS 3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS 3 Level ZigZag Session High Low Indicator Tick Size version for Thinkorswim TOS
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3 Level ZigZag Session High Low Indicator for Thinkorswim TOS
VIP price is: $99

This indicator is best used to highlight important chart patterns and confirm possible trend reversals.

The tick size version will use the given number of ticks to check the reverse level instead of percentage, that's the main difference between this version and the regular version.



The calculation is based on ZigZag algorithm.
ZigZag plot connects swing points if the difference between their prices exceeds specified value which is equal to pre-defined ticks of price change plus Average True Range (ATR) multiplied by a factor.

Note that the last segment of the plot can change its direction drastically as a considerable future market move might occur. (source: Thinkorswim)
Please make sure you understand the mechanism of zigzag before purchase this indicator.

Features:

  1. Three user-defined periods which is used to calculate the ATR value
  2. Three user-defined ticksize used to check the reverse level, respectively.
  3. There are three different arrow sizes, small, medium and large.
  4. Three alerts, when a signal is triggered, you will get a sound alert message.
  5. Three different sizes arrows for both upward and downward. You can also change them to other sharps.
  6. Six different colors for each of the arrows.

How to use:

if you use this indicator on a 5 minute chart and have the following settings:
ticksize1=15;
ticksize2=30;
ticksize3=50;
period1=5;
period2=15;
period3=30;

You may get a similar chart as shown below:

small arrow (A1, A2) corresponds to input ticksize1 and period1;
medium arrow (B1, B2) corresponds to input ticksize2 and period2;
large arrow (C1, C2) corresponds to input ticksize3 and period3;



The indicator will plot the arrow whenever the reversal hit the target, for example, the related reverse target of A1 and A2 are calculated based on 15(ticksize1) ticks plus ATR reverse value of 5 (period1). The price difference between A1 and A2 is at least 15 ticks, but it's less than 30 ticks (ticksize2), that's why it only shows a small arrow at A2.

From A2 to B1, the price went up more than 30 ticks (ticksize2), but less than 50 ticks (ticksize3), so a medium arrow will be shown at B1.

The price went up from B2 to C1 for more than 50 ticks (ticksize3), and dropped for more than 50 ticks from C1 to C2, so it will plot big arrows at C1 and C2.


Please make sure the ticksize inputs are properly set for your chart.



It works on any time frame(Tick, Minutes, Daily, Weekly, Monthly) and all markets(Stocks, Futures, Forex, Options,ETF, etc.)
 

If you want to add any feature to this indicator, please send us a Customization request.

 

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