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Horizontal Line that Follows Zig-Zag
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Horizontal Line that Follows Zig-Zag

  #1 (permalink)
Elite Member
Andover, NY
 
Futures Experience: Intermediate
Platform: Sierracharts
Favorite Futures: NQ
 
Posts: 36 since Oct 2011
Thanks: 135 given, 19 received

Horizontal Line that Follows Zig-Zag

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

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  #2 (permalink)
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Tallinn, Estonia
 
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Platform: SC
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You mean like this ?

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  #3 (permalink)
Elite Member
Andover, NY
 
Futures Experience: Intermediate
Platform: Sierracharts
Favorite Futures: NQ
 
Posts: 36 since Oct 2011
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Zig Zag Horizontal Lines


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

Thanks
JD

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  #4 (permalink)
Elite Member
Andover, NY
 
Futures Experience: Intermediate
Platform: Sierracharts
Favorite Futures: NQ
 
Posts: 36 since Oct 2011
Thanks: 135 given, 19 received

Zig Zag Following Line

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

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Horizontal Line that Follows Zig-Zag-2015-11-12_0910.png  
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