ZigZag Session High Low Indicator for NinjaTrader (NT) 1 year license

This indicator is a perfect tool to highlight important chart patterns and confirm possible trend reversals.

It is easy to understand and apply. It will give signals when price change exceeds pre-defined percentage.

This indicator looks like the 3 Level ZZ Semafor in MT4, but more powerful. Not only you can set as many levels as you need, you can also define the level symbol to any chars you want. 

Features and Parameters:

• ZigZag_Percentage: ZigZag Percentage factor, if sets to 0, it will only use ATR.
• ATR_Period: # of bars ATR in a pre-defined time period.
• ATR_Factor: ATR factor, if sets to 0, it will only use percentage.
• Level Symbol: ZigZag Level symbol text, can be '1' or '2' or '1st' or '2nd' or any other chars
• FontSize: font Size of the zigzag percentage.
• TextColor: Color of the zigzag percentage.
• OutlineColor: Text box outline color of the zigzag percentage.
• AreaColor: Text box fill color of the zigzag percentage.
• AreaOpacity: Level of transparency for the fill color. Valid between 0 - 10. (0 = completely transparent, 10 = no opacity)

How to use:

1. Load this indicator on chart.
2. If you want to set price change less than 0.2% as level 1, then set ZigZag_Percentage to 0.2 and set 'Level Symbol' to '1' or any other chars. The indicator will highlight all swing points which greater than 0.2%.
3. If you need more than 1 level of ZigZag Session High Low, then load this indicator 1 more time.
   If you want to set price change less than 0.4% as level 2, then set ZigZag_Percentage to 0.4 and set 'Level Symbol' to '2' or any other chars(such as '2nd'). The indicator will highlight all swing points which greater than 0.4%.

The calculation is based on ZigZag algorithm. ZigZag plot connects swing points if the difference between their prices exceeds specified value which is equal to pre-defined percentage of price change plus Average True Range (ATR) multiplied by a factor.Note that the last segment of the plot can change its direction drastically as a considerable future market move might occur. (source: Thinkorswim)

If you want to add any feature to this indicator, please send us a Customization request.