ZigZag:
ESB supports standard ZigZag for obtaining any properties of the indicator. Parameters are:
- Depth: zigzag depth (default: 12)
- Deviation: zigzag deviation (default: 5)
- Backstep: zigzag backstep (default: 3)
In all of ZZ indicators, indicator shift is important and ZigZag is considered from indicator shift.
For obtaining an extremum (peak or trough), you need to set the index of that extremum. See image below:
- index: number of extremum, peak or trough as is shown in image above
(Be careful about Shift of indicator and index of extremum or peak or trough)
| Name | Parameters | Description |
| [ZIGZAG] Main Line | depth, deviation, backstep | Returns value of the ZigZag |
| [ZIGZAG] Extremum | depth, deviation, backstep, index | Returns value of the Nth extremum that N=Index |
| [ZIGZAG] Peak | depth, deviation, backstep, index | Returns value of the Nth peak that N=Index |
| [ZIGZAG] Trough | depth, deviation, backstep, index | Returns value of the Nth trough that N=Index |
| [ZIGZAG] is Up Line | depth, deviation, backstep | Returns true if zigzag line slope is positive |
| [ZIGZAG] is Down Line | depth, deviation, backstep | Returns true if zigzag line slope is negative |
| [ZIGZAG] is Swing | depth, deviation, backstep | Returns true if desired candle shift is a zigzag extremum |
| [ZIGZAG] is Swing Peak | depth, deviation, backstep | Returns true if desired candle shift is a zigzag peak |
| [ZIGZAG] is Swing Trough | depth, deviation, backstep | Returns true if desired candle shift is a zigzag trough |
| [ZIGZAG] Next Upper Extremum | depth, deviation, backstep, min distance, max candles, max extremums Note: distance is in points default: 12,5,3,50,1000,100 | Returns value of next upper extremum by this conditions: Ext distance to current price > min distancemax candles: maximum number of candles to checkmax extremums: maximum number of extremums to check |
| [ZIGZAG] Next Lower Extremum | depth, deviation, backstep, min distance, max candles, max extremums Note: distance is in points default: 12,5,3,50,1000,100 | Returns value of next lower extremum by this conditions: Ext distance to current price > min distancemax candles: maximum number of candles to checkmax extremums: maximum number of extremums to check |
| [ZIGZAG] is Up Trend | depth, deviation, backstep, min extremums default: 12,5,3,2 | Returns true if ZigZag shows up trend min extremums: minimum number of extremums for identifying trend |
| [ZIGZAG] is Down Trend | depth, deviation, backstep, min extremums default: 12,5,3,2 | Returns true if ZigZag shows down trend min extremums: minimum number of extremums for identifying trend |
| [ZIGZAG] is Side Market | depth, deviation, backstep, min extremums default: 12,5,3,2 | Returns true if ZigZag shows down side market min extremums: minimum number of extremums for identifying trend |