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.
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