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Horizontal Line that Follows Zig-Zag


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  #1 (permalink)
 jdrower 
Alameda, CA
 
Experience: Intermediate
Platform: Sierracharts
Trading: NQ
Posts: 45 since Oct 2011
Thanks Given: 177
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In Sierra, I'd like to have the Horizontal Line follow the Zig Zag Highs and Lows.

E.G. If the market price action is dropping and the TF has just dropped to a HL or LL of say 1179.8, then the Horizontal Line (ALT-8) drops to a corresponding level above the HL or LL. In the example, I'd like to see the Horizontal Line 20-tics above the HL or LL or at 1181.8.

If the Price Action dropped lower, then the Horizontal Line would drop a corresponding amount.

If the Price Action were to rise and go through the Horizontal Line and create a LH or HH condition, then the Horizontal Line would adjust to the new LH or HH.

Is this something that can be done?

Thanks
JD
Cary, North Carolina


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  #2 (permalink)
 
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 lemons 
Tallinn, Estonia
 
Experience: Beginner
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  #3 (permalink)
 jdrower 
Alameda, CA
 
Experience: Intermediate
Platform: Sierracharts
Trading: NQ
Posts: 45 since Oct 2011
Thanks Given: 177
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Similar.

In the attached image, the current Zig Zag low is at 1169.6 and I have a horizontal line that is 2.4 above it at 1172.0

If the Zig Zag were to drop any more than I'd like the line to drop a corresponding amount. I can then
set up the exit from a trade at the Horizontal Line.

Thanks
JD


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  #4 (permalink)
 jdrower 
Alameda, CA
 
Experience: Intermediate
Platform: Sierracharts
Trading: NQ
Posts: 45 since Oct 2011
Thanks Given: 177
Thanks Received: 30

As TF has dropped since my earlier post, I've lowered the Horizontal Line. Yes, I can have a trailing stop but the more important feature to me is reversing to the Horizontal Line tells me the market may have reversed.

Thanks


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Last Updated on November 12, 2015


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