Horizontal Line that Follows Zig-Zag

November 12th, 2015, 07:28 AM

In Sierra, I'd like to have the Horizontal Line follow the Zig Zag Highs and Lows.

E.G. If the market price action is dropping and the TF has just dropped to a HL or LL of say 1179.8, then the Horizontal Line (ALT-8) drops to a corresponding level above the HL or LL. In the example, I'd like to see the Horizontal Line 20-tics above the HL or LL or at 1181.8.

If the Price Action dropped lower, then the Horizontal Line would drop a corresponding amount.

If the Price Action were to rise and go through the Horizontal Line and create a LH or HH condition, then the Horizontal Line would adjust to the new LH or HH.

Is this something that can be done?

Thanks
JD
Cary, North Carolina

November 12th, 2015, 07:34 AM

November 12th, 2015, 08:28 AM

Similar.

In the attached image, the current Zig Zag low is at 1169.6 and I have a horizontal line that is 2.4 above it at 1172.0

If the Zig Zag were to drop any more than I'd like the line to drop a corresponding amount. I can then

set up the exit from a trade at the Horizontal Line.

Thanks
JD

November 12th, 2015, 09:16 AM

As TF has dropped since my earlier post, I've lowered the Horizontal Line. Yes, I can have a trailing stop but the more important feature to me is reversing to the Horizontal Line tells me the market may have reversed.

Thanks

Horizontal Line that Follows Zig-Zag

Discussion in Sierra Chart

Horizontal Line that Follows Zig-Zag