If you use the parameters 12/5/3, and let’s just talk about the Highs for now, this means if your last point is a Low, you can have a new higher High in less than 12 bars (ExtDepth), but you can not have a new lower high in less than 12 bars (or 13 really). The ExtDeviation (5) seems virtually useless since the only time it comes in is when ZZ checks if the current High is higher than the last High or between 1 and 4 micropips lower, and then all that happens is it checks the last 3 prior bars (ExtBackstep) to see if they are lower Highs than current and erase any HighMapBuffer values found. So it seems the only really important parameter is the ExtDepth which you use to decide how ofter to look for lower Highs or higher Lows, since you can have a High on one bar, a lower Low on the next, a higher High on the next, and so on.
Now I’m going to try to forget how much time I’ve wasted trying to figure that out. Hope it helps someone else.
Just Trying to Help Other Traders and Myself On This Journey. (see profile)