On most platforms, the Zero Line Crossovers of MZT appear as white or yellow “+” signs above the price bar for bearish entries, and below the price bar for bullish entries. In thinkorswim, a plus sign is not available as it is in other platforms. Instead, a “v” or caret (^) is used, which adds a directional indication. “v” is used for bearish crossovers, and “^” is used for bullish crossovers.
thinkorswim limitations prevent the carets and Vs from appearing on the same side of the price bar as in other platforms. When plotting these types of symbols, the options in thinkorswim is a caret on one side, or an arrow on the other side. It might seem logical to just place a label then instead of the caret symbols, but thinkorswim doesn’t have the ability to place a label on a chart without a cartoon bubble that contains it, which creates a lot of extra clutter.
So the indicator uses the carets on the opposite side than most other MQ MZT implementations, which has created confusion for some users. For those who would prefer to force the positioning of the zero linen crossover signals to match the above/below price bar placement, they can do so but only by switching to arrows rather than carets, due to the thinkorswim limitations.
To make this change, open the indicator’s settings, and identify the four crossover plots (FastCrossUp, FastCrossDown, SlowCrossUp and SlowCrossDown). Then for each of these plots, choose the desired symbol and placement combination that’s offered by thinkorswim.
The following image shows “Up Arrow @ Low” being selected for the FastCrossUp plot. You can see the entire list of choices in the pulldown. A caret is known as a “Wedge” in this list. You can see that “Down Wedge @ High”, “Up Wedge @ Low” are not available, which is why there is a limitation. Only the “arrow” version of those options are available.
Doing this will replace the up caret (wedge) with an up arrow, but it will be located beneath the price bar, just as the “+” signs are positioned in other platforms.
Note that the arrows are the same symbol used for MZT’s other pair of detections, known as Zero-Touch indications. The use of arrows for all 4 of the detection types (Fast/Slow crossovers and Fast/Slow Zero-Touches) may create confusion, but it’s an option that’s available for users that desire it. If arrows are used for all 4 signals, make sure to pay close attention to the color of the arrows to distinguish between the two pairs of detections. Magenta and Cyan are the default colors for the zero touches, while white and yellow are used for the crossovers. Keep in mind that if two signals occur on the same bar, they may overwrite one another.
Here’s an image of how it would look with all arrows and no carets, but with the arrows positioned correctly: below price when bullish, and above price when bearish.
We suggest that users do NOT make the arrows-only adjustment, as we expect it will create confusion if all arrows are used, but it’s an option if they choose to do so. We believe using the direction of the carets and Vs themselves work well as an indication of bullishness or bearishness in spite of their position relative to the price bar.