The Zig Zag Oscillator indicator provides a way of viewing the Zig Zag Indicator information in a different form. Through the years, the Zigzag oscillator has become one of the most versatile indicators of the whole Investor/RT unique toolkit when it comes to analyse waves and identify market conditions.
The automatic trend line indicator determines the current up trend and down trend line and draws them. Trend lines may also be drawn manually using the drawing tool on the charting toolbar, but this indicator does it automatically. The user specifies the number of periods to "look back" from the present to determine where to place the trend lines. The up trend line connect the lowest low in the user specified period with the next lowest low preceding the highest high for which the trend line is not penetrated.