Any advances on ZigZag

Trading Discussion
1

I’m currently building an indicator (and possibly an EA but that will come later) that will show Gartely patterns defined as: -

AB is a 61.8% retracement of XA
BC is a 61.8% or 78.6% retracement of AB
CD is 127.2% or 161.8% retracement of BC
Time for AD = 61.8% to 161.8% of time for XA
Time for AB = time for CD

The work I’ve done already is based on the ZigZag indicator to get X, A, B, C & D

But I think a better way would be to get the points from more of a trend following stratagey i.e. an up trend is a series of higher highs and higher lows (HHHL) and a down trend is a series or lower lows and lower highs (LLLH) but most of the time ranging.

I have two questions: -

  1. Does anyone know of an indicator that does the HHHL/LLLH better than the ZigZag?
  2. What’s the best indicator to confirm that the pattern is complete?

I’m more than happy to share the indicator when it’s finished.

Thanks in advance.

2

I’ve never had any success with zig zag, how do you use it?

3

Well, that’s the problem, I’m not sure.

I’ve read quite a few articles and discussions regarding using ZigZag as the basis to chart various patterns but no one seems to rate it.

There are two indicators that I know of that find patterns (korHarmonics & Zup) and they both use ZigZag to find the pivot points.

I was just wondering if using a HHHL/LLLH trend would be better than using ZigZag.