Peak, Trough & Zig

A small query to all Ami experts

In the PEAK & TROUGH functions what does the second parameter 'change' stand for? What is it's utility?
(From what i understand, both the PEAK & TROUGH functions make use of the ZIG function internally. Now this ZIG function requires the 'change' parameter; hence, i guess, it also finds a place in the PEAK & TROUGH functions)

Regards,
Kalyan.

Well it seems the 'change' parameter has something to do with percentage price change.

So would PEAK(C, 5, 1) mean the value of the last peak from which prices have moved (up or down) a minimum of 5% ?

Regards,
Kalyan.

Yes. The change parameter is for Zig function, which calculates the minimum % change.

Praveen.

Thanks Praveen. If you know more about the ZIG function & ZigZag indicator (like how it can be used) do discuss it here. (Same request to other Ami experts)

Thanks & Regards,
Kalyan.

Hi Kalyan,

I've very little knowledge on indicators.

But as far as I know, one should be careful with ZigZag indicator. Because it looks into the future. I hope you know about it.

There are some good AFLs available in the AFL Library. Please try the attached AFL - this shows the bar during which the pivot was actually identified.

You can ask Swagat, who was doing some work on ZigZag indicator. Also other members can explain you ZigZag better. I remember some discussions on the same subject done before. Please search in the forum and you will find them.

Cheers,
Praveen.

Thanks again Praveen.

Yes i'm aware of the pitfalls of the ZigZag indicator. Actually all i want as of now is the value of the high/low pivots in a certain sequence.

Have seen that AFL in the AFL library; was having some difficulty figuring out the code. Thanks all the same.

Will see what more is available on Zigzag in the forum.

Regards,
Kalyan.

Ok.

I've seen your discussion on CV's pivot point thread regarding ZigZag. If you want any help in AFL, let us know. We will try our best.

All the best,
Praveen.

Kalyan

Here is some work I had done longtime back to plot the pivots, uding zig, peak and trough functions. But the work was done in Metastock.

Metastock code is also available in the that thread. Translation to afl should be easy,

http://www.traderji.com/16832-post1.html

regards

Karthik

Hi Karthik,

The ZigZag indicator plots the pivots based on the price parameter(one of O, H, L or C). Have you come across(or done any work on the same) a method to plot the "actual" pivot, by connecting the high and low?

I hope you got the point what I'm referring.

For eg. I'd tried one method to do the same, but not exactly what I'd explained above. (http://www.traderji.com/technical-analysis/12786-another-way-plot-elliott-wave.html)

Praveen.

Kalyan even i spend the whole day to figure out exactly wat to do. Problem is with Zig zag its not at all necessary that the day a pivot is formed the same day the the value is HHV(highest value).

And since we consider pivots from High to low of the Peak to trough i cudnt realy work it out.

thanks