![]() If you use this indicator on a daily chart, and have the following settings: percent1=1.0 Six different colors for each of the arrows.You can also change them to other sharps. Three different sizes arrows for both upward and downward.Three alerts, when a signal is triggered, you will get a sound alert and a text message.Three user-defined percentages to represent three periods, respectively.Three user-defined periods, you can set them as short, medium and long.Note that the last segment of the plot can change its direction drastically as a considerable future market move might occur. 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. The calculation is based on ZigZag algorithm. The main difference between the two is that TOS version plots arrows instead of circles. It will give signals when price change exceeds per-defined percentage within any period of time.This indicator works in the same way as the 3 Level ZZ Semafor in MT4.
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