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ZigZag (Using Line Array)

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This is standard zigzag indicator. I just coded them using lines array feature of pine - so that it can be done in least number of lines of code.

Few possible improvements:

  • Use label array to mark HH, HL, LH and LL
  • Add standard deviation check

ملاحظات الأخبار
Added updates mentioned in the description.
ملاحظات الأخبار
Corrected HL and LH labels
ملاحظات الأخبار
Added ratios display.
ملاحظات الأخبار
  • Previously, using pivotHigh and pivotLow on every bar for last 10 periods caused some inconsistencies in plotting zigzag. Hence, switched to points based calculation. However, zigzags are still created via lines array
  • Fixed empty label issue
ملاحظات الأخبار
Solved array index out of bounds issue
ملاحظات الأخبار
Adding option to apply zigzag on different source such as RSI. This enables plotting zigzag and ratios on RSI - which can be used for finding divergence.
ملاحظات الأخبار
  • Corrected minor logical error.
  • Removed DeviationThreshold as it was leading to wrong calculation

نص برمجي مفتوح المصدر

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

Trendoscope
Wizard
Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
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ZigzagZig Zag Indicator

إخلاء المسؤولية

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
ZigzagZig Zag Indicator

نص برمجي مفتوح المصدر

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

Trendoscope
Wizard
Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
أيضا على:

إخلاء المسؤولية

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.