LabTrend - page 5

I agree

Yes I agree it does look like a good system, but difficulty to see with all the indicators

if some them where combind than some popup aler would help

Very cool indeed!

I see the benefits of this approach.

Is it possible to display the total number of bars, counting from the major low/high? I played with the parameters, but if I make some numbers to high (e.g. Risk parameter) the indicator disappears.

Cheers, Kris

Max value for Risk = 32, because LabTrend1 have this limit.

In the near future I plan to write PriceChannelZigZag without any limitations for Length(Period).

Benefits of zigzag

Hi igorad,

Thanks for your new indicator. Could you explain how one can use your indicator in a strategy? Unlike Tokarus, I can't seem to grasp the benefits of using zigzag with the existing excellent strategy laid out by linuxser. I understand the period cycles and the pip difference, but just can't seem to properly use this info to my advantage for trading. How can I use it to entry/exit or confirm trend?

Thanks so much

Where can i learn about period cycle?

Cycles threads:

https://www.mql5.com/en/forum/175805

https://www.mql5.com/en/forum/173010

Also the Digital Filters sub section have more threads about cycles.

thanks linuxser for the quick respond

I've developed new version of LabTrendZigZag_v1.2 with new options:

1-ShowPeriodsMode:0-off,1-full cycle,2-half cycle

2-ShowPipsMode: 0-off,1-on

3-you can change colors for all names including current leg

Now we can overlay some ZigZags with different settings on the same chart.

Important!

I've fixed small bug in the LabTrendZZ_v1.2.

Please download fixed version.

Tangocash,

I want to use this indicator for counting bars to anticipate reversals. This method is taught by Jeff Greenblatt in Breakthrough Strategies for Predicting ANY Market. In that book he covers (brief overview of) Elliott Wave, but more importantly focuses on Lucas numbers (must read!) and Fibonacci. In essence, he is proposing to count bars, as markets tend to reverse on Fibonacci and Lucas numbers. Igorad is introducing an additional dimension of measuring each wave's amplitude.

The book cost more than average ($150), but it is worth every penny! Also, Google Jeff Greenblatt, I saw his presentation some time ago, but it was a little criptic without the insight of the book or his narration.

Cheers, Kris