Swing (Pivot) High/Low - based on X number higher(lower) bars on either side of a price high(low), with a lookback period of y bars.
Zig Zag - based on a fixed or percentage retracement amountrelative to a high (low) bar, with a lookback period of y bars.
I would add, that in the event that the high(low) values are made by multiple bars, that therebe an ability to identify the last high(low) bar and not just the first high(low) bar. As Dierk points out in another thread, using drawing objects to connect the dots is not very practical and it would be good to know if this is the reason these types of indicators have not surfaced yet.
Thanks for your consideration.
Regards,
Whitmark
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