A Dual-Buffer ZigZag Using Prior-Bar Highs and Lows

Summary

The document explains a ZigZag indicator that stores swing highs and lows in separate buffers. A candidate high or low is identified by comparing it with the corresponding values across a configurable number of earlier bars; the stated default lookback is two bars. The description relates this rule to a fractal-style test that looks backward in time, so a pivot can be marked without waiting for later bars to confirm it.

It also describes handling outside bars by scanning back to the last ZigZag node and replacing it when a more extreme high or low is found. This is presented as a way to avoid an ambiguity in selecting a node when a bar spans both sides of the prior range. No source code, chart examples, performance results, or complete rules for updating buffers are supplied. The text does not establish that pivots are stable in live use, so users should check for repainting or retrospective changes before relying on the indicator for signals.

Key ideas

• The indicator stores highs and lows in separate buffers.
• A candidate pivot is compared with prior bars using a configurable lookback, stated as two by default.
• Its fractal-style rule examines earlier bars rather than waiting for later-bar confirmation.
• For outside-bar cases, it scans to the previous node and can replace that node with a more extreme point.
• The description does not provide code or establish whether plotted pivots can change retrospectively.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.