• Zig Zag indicator plots points on the chart whenever prices reverse
by a percentage greater than a pre-chosen variable.
• Forecasts area based on zigzag statistics.
• Displays labels with detected patterns.
• Displays slope information rate of price, time diferentials and angle(experimental)
Took the code from LazyBears rsi-fib and made it so you could apply it to a chart. It plots fib levels between the high and low of a timeframe of your choosing. Seems to line up well with custom drawn fib levels.
Not sure if it's any better than just drawing the lines yourself, but whatever.
So I use deveat trade manager with my modification (you can find his script in the indicator section)
if you scroll down you can put your entry point (which ever you want ) , in this example according to linear channel and forecast channel +daily pivot point I estimate that a good entry is around 9945 , so my exit point will be 3% 5% and 10% and my stop loss is...
This script identifies multi-timeframe fractal level, which can be used as support and resistance.
If you are looking for someone to develop your own indicator or trading strategy, don't hesitate to get in touch with me here on TradingView or below.