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ZigZag for MC

Package:  Realtime ZigZag Indicator Package for MultiCharts

Traditional ZigZag indicators are not usable in realtime because their calculations are typically done and the ZigZags are typically detected only after a new swing pivot is formed.   What this means is that the latest leg of market movement unfolds, often going far in the new direction, without any indication given until much later that the prior ZigZag trend is over and the new one has begun.

Progster's new Realtime ZigZag Indicator Package for MultiCharts solves this problem by doing all calculations in realtime based on the price itself without waiting for swing pivots to be defined.  A new ZigZag leg is declared as begun immediately as price reaches the defining retracement amount.

Advantages of Realtime ZigZag

CFT's Realtime ZigZag is always current, never late, and can be used accurately for both historical analysis and realtime monitoring and trading (manual or automatic).

Along with the current leg's ZZ percent, multiple extra useful indications and statistics are provided.

These include:

ZZPvtRunLength    - run length of the current leg-in-progress

ZZPvtRunLengthAvg    -    average run length of all ZZ legs seen

ZZPvtRunToRtrcRatio  -  current leg ratio of run length to defined ZZ retrace amount

ZZPvtRtoRRatioAvg  -  average run-to-retrace ratio across all ZZ legs seen

Thus the over-time characteristic behavior of the market is exposed, along with the relationship of the latest leg to the overall behavior.

What It Looks Like

Here is a picture showing the minimal Scanner display version of the indicator as well as the chart version of the indicator:

The minimal Scanner display (above) allows you to immediately see which symbols are in uptrends or downtrends (color of cLeg%), how far those trends have extended (value of cLeg%), and where the very latest current price is relative to the trend extreme (color and value of cDiff%).

The expanded Scanner display (below) allows you to see and sort on the gathered statistics to determine which symbols are "more efficient" from a ZigZag point-of-view.

As shown above, the percentage versions of the indicators are ideal for broad overviews of markets at the Daily level.

Also included are barnumber-based  versions of the indicators, based on points (rather than percentages) which are ideal for lower-timeframe viewing of smaller swings.  The  barnumber-based  versions are visually correct even for tick data and ZZs taking place within a single minute, eliminating the visual artifacts that have historically been associated with trendline drawing on lower-timeframe data.

How It Works

Price action is monitored at the base-interval level by functions which track all the motion and calculate the ZigZags and statistics.   All the indicators rely on the underlying functions, which are also available for strategy use (strategy sold separately), thus allowing creation of a complete Realtime ZigZag overview, analysis, and trading configuration.


bullet Indicators are constantly up-to-date in realtime
bullet Cumulative run-length and run-to-retrace ratio statistics help to identify reversion and continuation in markets
bullet On-chart text identifies all ZigZag extremes, including the leg-in-progress

What You Get

Included techniques:

#P_ZigZagPctDT.p3  -  percentage-based Realtime ZigZag indicator (date/time version)
#P_ZigZagPointsDT.p3  -  point-based Realtime ZigZag indicator (date/time version)
r#P_ZigZagPctDT.p3  -  scanner indicator (date/time version)
r#P_ZigZagPctDTmin.p3  -  scanner indicator with fewer columns to save space (date/time version)
r#P_ZigZagPointsBN.p3  -  scanner indicator (barnumber version)
#P_ZigZagPointsBN.p3  -  point-based Realtime ZigZag indicator (barnumber version)

Closed code version  - 

The indicators and all underlying functions delivered as a .SEF  file, locked to your MultiCharts UserID.

Multiple demo workspaces to assist you in getting started.

Customer Support as needed to get it all running.

Open code version -

As above, but with all indicators and underlying functions delivered as an open-code .PLA file. 

 Because the indicators and functions are open-source, you can alter them or use them as guides to write your own variations if you choose. 


The closed-code version of this package is compatible ONLY with versions of MultiCharts distributed via direct download from the TSSupport web site.  Unfortunately, for technical reasons, the closed code version of this package IS NOT COMPATIBLE with separate versions of MultiCharts distributed by other means (e.g. other national or regional resellers, etc.).

The open-code version of this package is compatible with all versions of Multicharts.  Simply import, compile and run.

What It Costs

$300 for the closed code version.

Progster's Realtime ZigZag Indicator Package for MultiCharts (closed code) -  $300 


$500 for the open code version.

Progster's Realtime ZigZag Indicator Package for MultiCharts (open code) -  $500 

How You Get It

Click on one of the small 'Buy Now' buttons above and complete your payment via PayPal.

The package will be emailed to you after your PayPal payment is processed.
Please be aware of the caveats before you order.