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Product Description
+ 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.
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
Dedicated NinjaScript Signals
- Signal_State: 1 = high, -1 = low, 0 = middle
- Signal_Reject: 1 = bullish, -1 = bearish, 0 = no signal
Product Media
These media materials may have been recorded/captured in favorable markets. Please review our “acceptable marketing practices”.
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Software Changelog
16 Jan 2021
Massive changes, fixes and improvements were made (DPI, display name, Z order, alert properties, marker string, chart info, property naming/positioning/grouping).
21 Feb 2020
The indicator was released (built new).
