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Average OHLC ZigZag

The 'Average OHLC ZigZag' indicator was designed for entry confirmations as well as scalping with a larger trend.

A custom formula to average the last two bars to generate arrows following market trends with bar 1 confirmation.


Key Features

  • An extreme scalper calculating the averages between the last two market periods to generate a buy or sell arrow.
  • No settings are available due to it's simplicity of custom price action pattern and using repainting four OHLC prices. 


Input Parameters

  • ZigZagPos = Averaged OHLC; - ZigZag Position: "Averaged OHLC", "Highs & Lows" or "None".


Integration

  • This indicator produces prices of the zigzag and of the arrows which can be compared with it's adjacent buffer.
  • There must be a value on one buffer and not the other, represented by a value of EMPTY_VALUE.


Improvements

  • Please be sure to leave any ideas, tips and suggestions in the "Reviews" section and they may be included.
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Indikatoren
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Version 3.0 2023.09.24
Theme Colorization Changes
Input Parameters Changes
Version 2.0 2023.01.19
Upgrades for visibility as well as performance