Fractal ZigZag Swing Detection and Indicator Settings
Summary
This indicator description explains a Fractal ZigZag port that uses ZigZag logic to identify swing highs and lows, then plots or estimates a version intended to avoid redrawing. It says that values are backdrawn by two bars from the current bar, a detail that matters when interpreting historical chart signals and any apparent timing advantage. The indicator marks fractal highs and lows with arrows and offers a setting to wait for the current bar to close before drawing them.
The listed inputs control bar-close behavior, ZigZag depth and deviation, and the vertical offset of the arrows in pips. The backstep parameter is fixed at one. No trading rules, performance tests, or markets are specified, so the description teaches indicator configuration rather than demonstrating a profitable strategy. The distinction between delayed confirmation, backdrawn plotting, and repainting behavior should be examined on the target platform before using signals in live or historical analysis.
Key ideas
- The indicator uses ZigZag swings to locate candidate fractal highs and lows.
- It backdraws plotted values by two bars from the current bar.
- A bar-close option controls whether arrows wait for the current candle to finish.
- Depth and deviation inputs adjust the underlying ZigZag behavior, while the backstep is fixed.
- An arrow-offset setting shifts markers above or below detected swing points.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.