ZigZag implementation using an ATR threshold for directional change, as well as a secondary trigger based on time.
Variable input settings include changing:
- The multiplier of the ATR threshold
- Period for ATR calculation
- Minimum and maximum number of bars before allowing or forcing a direction change
- A setting for realtime processing of most current bar (can lead to redrawing)
In effect, the zigzag captures swings in a balanced, dynamic, and adjustable manner making it excellent for zigzag based analyses and trading strategies.