MetaStock Zig Zag Function

by David Jenyns on July 16, 2007

MetaStock Zig Zag Function
The Relative Strength Index (RSI) is a very popular oscillator and is widely used. The RSI measures the internal strength of a security rather than measuring the strength of a security relative to something else as the name would suggest. Just a word of caution when using the Zig Zag function; the last leg (i.e., segment) of the Zig Zag is dynamic, meaning that it can change. Therefore, be careful when designing system tests, experts, etc. based on the Zig Zag indicator. The results can appear unusually good but this is only due to the dynamic last leg.

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