Configurable ZigZag Indicator with Point and Percentage Steps

Summary

This document describes a simple ZigZag chart indicator that marks a turning point after a price leg exceeds a chosen step. The step can be specified either in points or as a percentage, with the method and step size as its two inputs.

The examples show the indicator on an H4 chart with an 800-point step and, separately, a 50% step. These illustrate the two input modes, but the document gives no performance evidence, trading rules, or guidance on selecting an appropriate threshold. It explains the indicator's basic behavior rather than presenting a complete trading strategy.

Key ideas

• The indicator adds a ZigZag turning point when a leg exceeds the configured step.
• The step can be measured in points or as a percentage.
• The user sets the calculation method and step size.
• The examples demonstrate settings but provide no evidence of trading performance.

Tags

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