The user can add the Zig Zag indicator to their chart by right clicking the chart and selecting Study Config to open the study configure window first, then select the “Zig Zag” study from the Available Studies list and add it into the Current Studies list.
Explanation of Each Field
% Reverse: Allows the user to adjust reverse percentage for the Zig Zag study.
Source: Use the drop down menu to select the study source for the Zig Zag study.
- Open: Use the open price data to calculate the Zig Zag.
- High: Use the highest price data to calculate the Zig Zag.
- Low: Use the lowest price data to calculate the Zig Zag.
- Close: Use the close price data to calculate the Zig Zag.
- (H+L)/2: Use this equation to calculate the price first, then use those price data to calculate the Zig Zag.
- (H+L+C)/3: Use this equation to calculate the price first, then use those price data to calculate the Zig Zag.
- (O+H+L+C)/4: Use this equation to calculate the price first, then use those price data to calculate the Zig Zag.
- (H+L+C+C)/4: Use this equation to calculate the price first, then use those price data to calculate the Zig Zag.
Note: O means Open Price, H means Highest Price, L means Lowest Price, and C means Close Price. And in (H+L+C+C)/4, both Cs are refer to Close Price, so same as (H+L+2C)/4.)
Color: Select the color of the Zig Zag.
