Overview

The study uses zigzags to find all the rotations on the chart. Study will plot the zigzag lines on the chart and calculate some statistics based on the leg sizes

HR Market Analyze Tool - use this study to calculate rotations for a given market

Inputs

Setting	Default	Notes

Setting	Default	Notes
ZigZag Input Data for High	High
ZigZag Input Data for Low	Low
ZigZag Reversal Amount Units	Points	User can define the reversal amount as ticks or points
ZigZag Reversal Amount	1	A market must make a retracement greater than 1 point in order for the previous leg to get set in place and a new leg to form
Start Time	00:00:00
End Time	00:00:00
CSV Export File Name	harmonic_rotation_zz.csv	File is saved to SC data folder
Text Color	Magenta
Text Size	11

ZZ modes - in SC, ZZ has 3 modes. We will be supporting mode 2 which uses the reversal amount and number of bars required. See here: https://www.sierrachart.com/index.php?page=doc/StudiesReference.php&ID=133&Name=Zig_Zag#ZigzagCalculationMode2
Start Time / End Time - filter for rotations between a set time. For example, settings to 9:30:00-16:00:00 would include rotations within this time window and discard all others. A zigzag leg must start and end within this time window to be considered

Basic Stats

The stats below are created using all the zigzag legs on the chart (filtered by time).

Total Count
Mean - the average rotation size
Median - the mid size rotation, where 50% of the rotations are greater, 50% are smaller - good for looking at data with outliers
Mode - the more common rotation size
Max
Min

We plot the above in the upper left hand side of the chart values

Frequency Distribution

Study will create a frequency distribution of the leg sizes

In other words, the study will create a table that that has two columns:

Leg size (in ticks/points)
The number of legs for each size

Distribution can be exported as csv file (see below).

Right Click Menu Options

Right clicking the chart opens a menu where the study adds options.

Right Click "Show Frequency Distribution"

Menu name "Harmonic Rotation ZZ Show Histogram"

Right Click "Export"

Menu name "Harmonic Rotation ZZ Export"

Writes the frequency distribution table to csv file