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ZigZag %

From MultiCharts

Definition

The ZigZag % indicator finds swing points that are at least some percent defined by the RetracePct input away from each other. A high swing point is where the price is higher than the previous or subsequent prices. A low swing point is where the price is lower than the previous or subsequent prices.

Default Inputs

HighPivotPrice - price value indicating the pivot high

LowPivotPrice - price value indicating the pivot low

RetracePct - minimum percentage difference between swing points to plot

LineColor - trendlines’ color

LineWidth - trendlines’ thickness

Plots

Values are not plotted. The indicator plots lines connecting high and low swing points.