Where's Erik and do you remember this tool?

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dctommy
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Where's Erik and do you remember this tool?

Post by dctommy » Wed May 11, 2022 3:08 am

Hi:

I have been a W59 user for years and I have been away from the board (and W59) for quite awhile.

Does anyone remember the name of the tool that plots zig-zags with numbers next to the turning points...used for intraday trading.

I cant remember.... also is Earik still around? Is the company still operating?

Any info would be helpful.

Thanks,

Tommy P.

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ForJL
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Re: Where's Erik and do you remember this tool?

Post by ForJL » Wed May 11, 2022 3:19 pm

Hi Tommy,

I have been with Wave 59 for about 18 or so years myself. Yeah, Earik is definitely still around but for life of me can't think of the tool you are looking for. I'm assuming you checked the indicator library but if not you might want to give it a shot.

Best of luck with the search,
Joe

sbank
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Re: Where's Erik and do you remember this tool?

Post by sbank » Mon May 16, 2022 1:21 pm

I have a tool called ZigZag in my list of indicators. Not sure where I got it from, (Maybe like Joe said from the indicator library), but here is the code in case you can't find it:

Code: Select all

# if use_percent is true, will look for percent change
# if use_percent is false, will look for a specific point drop
# highprice = what price to use when measuring from highs
# lowprice = what price to use when measuring from lows
# if show_min_target is true, the minimum target for a reversal will be drawn

input:highprice(high),lowprice(low),percent(3.25),
color(red),thickness(1),use_percent(false),
show_min_target(true),min_target_tl_length(20);
if (barnum==barsback) {
   lasthi=highprice;
   lastlo=lowprice;
   lasthibar=barnum;
   lastlobar=barnum;          
   direction=1;
   perc=percent/100.0;
   active_tl=trendline(0,c,0,c,color);
   set_tl_style(active_tl,ps_dot);
   target=c;
   target_tl=trendline(0,c,0,c,color);
   set_tl_style(target_tl,ps_dot);
   if (show_min_target==true)
      target_tx=text(0,c,"target",color,tx_left,8);
}
if (use_percent==true) {
    if (direction==1) {
       if (highprice>lasthi) {
          lasthi=highprice;
          lasthibar=barnum;
           #update active TL
           set_tl_bar1(active_tl,lastlobar);
           set_tl_price1(active_tl,lastlo);
           set_tl_bar2(active_tl,lasthibar);
           set_tl_price2(active_tl,lasthi);
           target=lasthi*(1.0-perc);
       }
       if (lowprice<lasthi*(1.0-perc)) {
         ref=trendline(lastlobar,lastlo,lasthibar,lasthi,color);
         set_tl_size(ref,thickness);
         lastlo=lowprice;
         lastlobar=barnum;
         direction=-1;
          #update active TL
          set_tl_bar1(active_tl,lastlobar);
          set_tl_price1(active_tl,lastlo);
          set_tl_bar2(active_tl,lasthibar);
          set_tl_price2(active_tl,lasthi);
          target=lastlo*(1.0+perc);
       }
    }
    if (direction==-1) {
      if (lowprice<lastlo) {
         lastlo=lowprice;
         lastlobar=barnum;
          #update active TL
          set_tl_bar1(active_tl,lastlobar);
          set_tl_price1(active_tl,lastlo);
          set_tl_bar2(active_tl,lasthibar);
          set_tl_price2(active_tl,lasthi);
          target=lasthi*(1.0+perc);
      }
      if (highprice>lastlo*(1.0+perc)) {
        ref=trendline(lasthibar,lasthi,lastlobar,lastlo,color);
        set_tl_size(ref,thickness);
        lasthi=highprice;
        lasthibar=barnum;
        direction=1;
         #update active TL
         set_tl_bar1(active_tl,lastlobar);
         set_tl_price1(active_tl,lastlo);
         set_tl_bar2(active_tl,lasthibar);
         set_tl_price2(active_tl,lasthi);
         target=lasthi*(1.0-perc);
      }
    }
}
else  #this is points
{
     if (direction==1) {
       if (highprice>lasthi) {
          lasthi=highprice;
          lasthibar=barnum;
         #update active TL
         set_tl_bar1(active_tl,lastlobar);
         set_tl_price1(active_tl,lastlo);
         set_tl_bar2(active_tl,lasthibar);
         set_tl_price2(active_tl,lasthi);
         target=lasthi-percent;
       }
       if (lowprice<=lasthi-percent) {
         ref=trendline(lastlobar,lastlo,lasthibar,lasthi,color);
         set_tl_size(ref,thickness);
         lastlo=lowprice;
         lastlobar=barnum;
         direction=-1;
         #update active TL
         set_tl_bar1(active_tl,lastlobar);
         set_tl_price1(active_tl,lastlo);
         set_tl_bar2(active_tl,lasthibar);
         set_tl_price2(active_tl,lasthi);
         target=lastlo+percent;
       }
    }
    if (direction==-1) {
      if (lowprice<lastlo) {
         lastlo=lowprice;
         lastlobar=barnum;
         #update active TL
         set_tl_bar1(active_tl,lastlobar);
         set_tl_price1(active_tl,lastlo);
         set_tl_bar2(active_tl,lasthibar);
         set_tl_price2(active_tl,lasthi);
         target=lastlo+percent;
      }
      if (highprice>=lastlo+percent) {
        ref=trendline(lasthibar,lasthi,lastlobar,lastlo,color);
        set_tl_size(ref,thickness);
        lasthi=highprice;
        lasthibar=barnum;
        direction=1;
         #update active TL
         set_tl_bar1(active_tl,lastlobar);
         set_tl_price1(active_tl,lastlo);
         set_tl_bar2(active_tl,lasthibar);
         set_tl_price2(active_tl,lasthi);
         target=lasthi-percent;
      }
    }
}
#update next wave targets
if (show_min_target==true) {
    set_tl_bar1(target_tl,barnum+10);
    set_tl_bar2(target_tl,barnum+min_target_tl_length);
    set_tl_price1(target_tl,target);
    set_tl_price2(target_tl,target);
    text_setprice(target_tx,target);
    text_setbar(target_tx,barnum+min_target_tl_length+1);
    text_setstring(target_tx,To_String(target));
}

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earik
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Re: Where's Erik and do you remember this tool?

Post by earik » Mon May 16, 2022 7:36 pm

Possibilities:

Wave Tracker
Gann Swings
Zig Zag tool (from QScript library)

There are a a hundred of these things floating around, so I can't be totally sure, but it was probably one of those...

Earik

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