Woodie ZLR Pro
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Product Description
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+ Woodie ZLR Pro is an indicator dedicated to ninZaRenko or equivalent renko charts.
+ This purchase does NOT include Easy Trend, which was used in our demo screenshots below to help identify major trends.
If you want to buy both Woodie ZLR Pro & Easy Trend, please contact us for a special discount.
If you are a trend follower who trades ninZaRenko or equivalent renko charts, Woodie ZLR Pro is definitely a nice fit.
ZLR stands for "Zero-Line Reject," which is a CCI pattern introduced by Ken Wood (Woodie). This pattern is observed when CCI leaves its high/low region, then penetrates through the zero line but quickly bounces back to create a sharp V-shaped reject off the zero line.
What does this pattern mean? ZLR means a trend has recovered after a pullback.
Trend followers can, therefore, consider a ZLR signal as a good opportunity to join a trend resumption.
Besides its ZLR functionality, this indicator also allows you to calculate CCI like never before. It gives you options to select MA type, configure multiplier, and smooth CCI.
Dedicated NinjaScript Signals
- Signal_State: 1 = high, -1 = low, 0 = middle
- Signal_Reject: 1 = bullish, -1 = bearish, 0 = no signal
Compatibility
- Instruments: futures, stocks, indices
- Interval types: timebased or non-timebased, standard or custom
- Chart styles: whatever
Key Features
- Plot CCI with Woodie's ZLR pattern
- Allow configuring "Late Mode"
- Allow configuring multiplier
- Allow selecting from 11 popular moving averages
- Allow smoothing the moving average (with 11 popular moving averages)
- Allow smoothing CCI (with 11 popular moving averages)
- Highlight high & low regions
- Trigger alerts on ZLR appearance
- Print markers on ZLR appearance
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals
Usability
Ready to use out of the box
Fully configurable & customizable with ease
45 Days ninZaExchange
If you are not satisfied with an indicator you’ve bought, you may request us to replace it with another indicator of the comparable price for you.
Software Changelog
Jan 16, 2021
Massive changes, fixes and improvements were made (DPI, display name, Z order, alert properties, marker string, chart info, property naming/positioning/grouping).
Feb 21, 2020
The indicator was released (built new).
Product Media
How to Install?
Step by step guide on how to install the indicators
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Because software products may be copied and stored easily, we will NOT issue refunds of any kind. ALL SALES ARE FINAL & NON-REFUNDABLE!
Futures, foreign currency, and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
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