Some people respect my point of vieuw (wich I thank you for) some people maybe think that I walk around on this forum only looking for trouble...
So here is an other attempt to help you in your trading.
Why the name (Z_o_R_R_o) ?...
This system contains 2 set of rules. The base indicator is the Zigzag indicator.
Don't worry the entry have no repainting element what so ever.
The
Zigzag indicator helps us on finding
RETRACEMENTS within a trend or catching the
REVERSALS.
(Z R R )
The shape of the zigzag indicator reminds me also of zorro placing the letter "Z" on sergeant Garcia thick tummy.
For now I gonna explain the rules for the rectracement. In a later stage I gonna add the rules for the reversals
Bellow you can see 2 charts on the GBP/JPY 1h.
I take this pair ( a sujestion of BB but not my favorite) but I do it to compare oranges with oranges.
The 1st chart is according the rules of the bouncing pip.
The 2nd is according the riding pip.
As you can see there is a serious difference between the 2 charts.
Even dow they both use zigzag indicators.
The bouncing pip chart is showing a bottom and a top ( wich can take severall attempts before you realy catch the real one).
And the direction of trading by the zigzag indicator. In between there is nothing or one can fill it up with information as you wish personnaly.
The riding pip chart is showing also the same highs and lows. But those are not realy the points that I would trade because as proofed before (one can encounter many false tops and bottoms before catching the good one).
The points that I should be traded are highlighted with elipses.
On the price I placed a heiken ashi bar so it smooths out the price and it shows much cleaner and clearer the turning points. If one has an entry short by a red dot I would only take before I see a doji star or a magenta bar. I would only take a long entry (after receiving a green dot when I see a gren bar apearing or a doji star.
The stochastic is a slow stochastic 10.6.3. only to give you a feeling that price is indeed against some nice clear turning or reversall point and to get a better timing on entry. But be carefull the more you wait for confirmation the later you gonna get in to your trade and the bigger your stoploss will be.
So one takes the trades according the blue zigzag line (or the trend). That line is repainting. But we enter only on a retracement shown by the elipses.
So you will see that most of the times when you enter on such a retracement that the blue line will be in the right direction and will stay in that direction.
But honesty forces me that when you use a zigzag indicator that you will always be faced with a repainting element.
I can only try within the bounderies of the re-painting to eliminate as much possible the re-painting element.
My personal opinion is that it has a lot of potential because one can place his stoploss bellow the bottom that you trade or just above the top that you trade.
This system is even a very good excercise for the more experienced traders who can add their discretionary vieuws on support and resistance levels.
Very intersting is that I placed this method on time frames between 1min and 4 hours and each of them gives a very nice potential (without changing any of the values).
Remember that it is useless or a waist of time to try to filter out the re-painting completely because once you do that you will fall in to the moving average country.Or into the breakout-methods- country. Meaning if one doesn't want the re-painting (wich I completely understand and underwrite) then I sujest to go to an normall indicator.
The dots on the chart DO NOT repaint.
Regards...good luck and glad I could be at your service in a productive way 
LAST UPDATE OF INDICATORS AND TEMPLATE 21-09-2007
iGoR
Linear Mode
