Momentum-Confirmed ZigZag Pivots Using MACD, Moving Averages, or QQE
Summary
This indicator identifies ZigZag turning points when a selected momentum measure changes direction. The available choices are MACD crosses, moving-average turns, and QQE signals. At a change, it records the high or low reached during the preceding impulse and plots that point as a pivot. The script also classifies some impulses as forceful using short-period RSI extremes, colors the ZigZag accordingly, labels long and short signals, and sends alerts with a stop price and a configurable take-profit value.
The author emphasizes that pivots are shown when detected rather than shifted backward to appear earlier, which can make the lines seem delayed relative to conventional ZigZag tools. The document provides no comparative study or trading results, so its claim of non-repainting behavior and the usefulness of its signals are not independently demonstrated here. Momentum settings, RSI force rules, and market conditions can affect signal timing and frequency; the indicator itself does not specify a complete position-sizing or risk framework.
Key ideas
- The ZigZag pivot is recorded when the selected momentum indicator signals a direction change.
- MACD, moving-average turns, and QQE are alternative methods for detecting momentum shifts.
- The indicator uses short-period RSI extremes to flag impulse force and color the plotted swings.
- Long and short labels and alerts include pivot-based stop prices and a configurable target value.
- Pivots may appear later than conventional ZigZag plots, and the document provides no independent performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.