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Hello everyone,
I have been trying for a while to find a way to write an indicator that identifies peaks and troughs however I don't find the zig-zag function very useful.
However I think that if there was a way to compute angles then it would be possible to define what is a peak/trough and what is not e.g. when angle < 30 degrees then consider this as a peak/trough.
I played a little with the math&trig functions but didn't manage to find a way for this.
Do you guys have any ideas that could be useful ? Thanks
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Rank: Advanced Member
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Joined: 11/9/2012(UTC)
Posts: 169
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There are built-in functions called Peak() and Trough() but these are based on ZigZag and percent change. Doing this by angle is not easy and I'm not sure how it could be effectively done at all. The angle will be dependent on the amount of data loaded (x-axis) and the range of prices (y-axis). Its a Rise over Run deal. Angle is important for Gann enthusiasts. The 45 degree Gann line requirs a perfect 1x1 rise/run.
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Rank: Advanced Member
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crossover wrote:Hello everyone,
I have been trying for a while to find a way to write an indicator that identifies peaks and troughs however I don't find the zig-zag function very useful.
However I think that if there was a way to compute angles then it would be possible to define what is a peak/trough and what is not e.g. when angle < 30 degrees then consider this as a peak/trough.
I played a little with the math&trig functions but didn't manage to find a way for this.
Do you guys have any ideas that could be useful ? Thanks
You may also want to check out the Help File on: Linear Regression Slope:
Overview
We also have a couple custom formulas on our support page you want to check out regarding the slope:
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