zigzag

9 oct 2021

⬜ Zigzag at your fingertips.

Creating zigzag array is more simpler than ever. All you need to do is:

▶ Import library:

Pine Script®

▶ And invoke zigzag to get all the details.

Pine Script®

More examples in the code where you can get retracement ratios, zigzag direction, divergence etc.


Library "zigzag"
Library dedicated to zigzags and related indicators

zigzag(length, numberOfPivots, useAlternativeSource, source, oscillatorSource, directionBias) zigzag: Calculates zigzag pivots and generates an array
Parameters:

• length: : Zigzag Length
  
• numberOfPivots: : Max number of pivots to return in the array. Default is 20
  
• useAlternativeSource: : If set uses the source for genrating zigzag. Default is false
  
• source: : Alternative source used only if useAlternativeSource is set to true. Default is close
  
• oscillatorSource: : Oscillator source for calculating divergence
  
• directionBias: : Direction bias for calculating divergence
  

Returns:

• zigzagpivots : Array containing zigzag pivots
  
• zigzagpivotbars : Array containing zigzag pivot bars
  
• zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
  
• zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
  
• zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
  
• zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
  
• zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
  
• zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
  
• newPivot : Returns true if new pivot created
  
• doublePivot : Returns true if two new pivots are created on same bar (Happens in case of candles with long wicks and shorter zigzag lengths)
  

drawzigzag(length, numberOfPivots, , source, linecolor, linewidth, linestyle, oscillatorSource, directionBias, showHighLow, showRatios, showDivergence) drawzigzag: Calculates and draws zigzag pivots
Parameters:

• length: : Zigzag Length
  
• numberOfPivots: : Max number of pivots to return in the array. Default is 20
  
• : useAlternativeSource: If set uses the source for genrating zigzag. Default is false
  
• source: : Alternative source used only if useAlternativeSource is set to true. Default is close
  
• linecolor: : zigzag line color
  
• linewidth: : zigzag line width
  
• linestyle: : zigzag line style
  
• oscillatorSource: : Oscillator source for calculating divergence
  
• directionBias: : Direction bias for calculating divergence
  
• showHighLow: : show highlow label
  
• showRatios: : show retracement ratios
  
• showDivergence: : Show divergence on label (Only works if divergence data is available - that is if we pass valid oscillatorSource and directionBias input)
  

Returns:

• zigzagpivots : Array containing zigzag pivots
  
• zigzagpivotbars : Array containing zigzag pivot bars
  
• zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
  
• zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
  
• zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
  
• zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
  
• zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
  
• zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
  
• zigzaglines : Returns array of zigzag lines
  
• zigzaglabels : Returns array of zigzag labels
  

10 oct 2021

Notas de prensa

Fixed a minor zigzag drawing error

18 oct 2021

Notas de prensa

Performance Updates:

• Using array.remove in place of array.shift
  
• Using array.insert in place of array.unshift
  

20 oct 2021

Notas de prensa

v4

Added options to provide different oscillator sources for pivot high and pivot low for divergence calculation.

30 oct 2021

Notas de prensa

v5

Created czigzag method which can take custom high/low sources for both candlesticks and oscillators. This can be useful if we need to create zigzag on different type of candle source such as Heikin Ashi Candles

Added:
czigzag(length, numberOfPivots, highSource, lowSource, oscillatorHighSource, oscillatorLowSource, directionBias) czigzag: Calculates zigzag pivots and generates an array based on custom high and low source
  Parameters:
    length: : Zigzag Length
    numberOfPivots: : Max number of pivots to return in the array. Default is 20
    highSource: : High Source for prices to calculate zigzag.
    lowSource: : Low source for prices to calculate zigzag.
    oscillatorHighSource: : Oscillator high source for calculating divergence
    oscillatorLowSource: : Oscillator high source for calculating divergence
    directionBias: : Direction bias for calculating divergence
  Returns: zigzagpivots : Array containing zigzag pivots
zigzagpivotbars : Array containing zigzag pivot bars
zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
newPivot : Returns true if new pivot created
doublePivot : Returns true if two new pivots are created on same bar (Happens in case of candles with long wicks and shorter zigzag lengths)

17 nov 2021

Notas de prensa

v6

Added:
drawczigzag(length, numberOfPivots, highSource, lowSource, oscillatorHighSource, oscillatorLowSource, directionBias, showHighLow, showRatios, showDivergence, linecolor, linewidth, linestyle) drawczigzag: Calculates and draws zigzag pivots and generates an array based on custom high and low source
  Parameters:
    length: : Zigzag Length
    numberOfPivots: : Max number of pivots to return in the array. Default is 20
    highSource: : High Source for prices to calculate zigzag.
    lowSource: : Low source for prices to calculate zigzag.
    oscillatorHighSource: : Oscillator high source for calculating divergence
    oscillatorLowSource: : Oscillator high source for calculating divergence
    directionBias: : Direction bias for calculating divergence
    showHighLow: : show highlow label
    showRatios: : show retracement ratios
    showDivergence: : Show divergence on label (Only works if divergence data is available - that is if we pass valid oscillatorSource and directionBias input)
    linecolor: : zigzag line color
    linewidth: : zigzag line width
    linestyle: : zigzag line style
  Returns: zigzagpivots : Array containing zigzag pivots
zigzagpivotbars : Array containing zigzag pivot bars
zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
zigzaglines : Returns array of zigzag lines
zigzaglabels : Returns array of zigzag labels

17 nov 2021

Notas de prensa

v7

Updated:
drawczigzag(length, numberOfPivots, highSource, lowSource, oscillatorHighSource, oscillatorLowSource, directionBias, showHighLow, showRatios, showDivergence, linecolor, linewidth, linestyle) drawczigzag: Calculates and draws zigzag pivots and generates an array based on custom high and low source
  Parameters:
    length: : Zigzag Length
    numberOfPivots: : Max number of pivots to return in the array. Default is 20
    highSource: : High Source for prices to calculate zigzag.
    lowSource: : Low source for prices to calculate zigzag.
    oscillatorHighSource: : Oscillator high source for calculating divergence
    oscillatorLowSource: : Oscillator high source for calculating divergence
    directionBias: : Direction bias for calculating divergence
    showHighLow: : show highlow label
    showRatios: : show retracement ratios
    showDivergence: : Show divergence on label (Only works if divergence data is available - that is if we pass valid oscillatorSource and directionBias input)
    linecolor: : zigzag line color
    linewidth: : zigzag line width
    linestyle: : zigzag line style
  Returns: zigzagpivots : Array containing zigzag pivots
zigzagpivotbars : Array containing zigzag pivot bars
zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
zigzaglines : Returns array of zigzag lines
zigzaglabels : Returns array of zigzag labels

18 dic 2021

Notas de prensa

v8

Correcting drawczigzag - label issue

18 dic 2021

Notas de prensa

v9

Updated:
drawczigzag(length, numberOfPivots, highSource, lowSource, oscillatorHighSource, oscillatorLowSource, directionBias, showHighLow, showRatios, showDivergence, showDoubleDivergence, linecolor, linewidth, linestyle) drawczigzag: Calculates and draws zigzag pivots and generates an array based on custom high and low source
  Parameters:
    length: : Zigzag Length
    numberOfPivots: : Max number of pivots to return in the array. Default is 20
    highSource: : High Source for prices to calculate zigzag.
    lowSource: : Low source for prices to calculate zigzag.
    oscillatorHighSource: : Oscillator high source for calculating divergence
    oscillatorLowSource: : Oscillator high source for calculating divergence
    directionBias: : Direction bias for calculating divergence
    showHighLow: : show highlow label
    showRatios: : show retracement ratios
    showDivergence: : Show divergence on label (Only works if divergence data is available - that is if we pass valid oscillatorSource and directionBias input)
    showDoubleDivergence: : Show double divergence label
    linecolor: : zigzag line color
    linewidth: : zigzag line width
    linestyle: : zigzag line style
  Returns: zigzagpivots : Array containing zigzag pivots
zigzagpivotbars : Array containing zigzag pivot bars
zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
zigzagdoubledivergence : Array of double divergence sentiment at each pivot
zigzaglines : Returns array of zigzag lines
zigzaglabels : Returns array of zigzag labels

16 feb 2022

Notas de prensa

v10

19 feb 2022

Notas de prensa

v11

Updated:
zigzag(length, numberOfPivots, useAlternativeSource, source, oscillatorSource, directionBias, divergenceOption) zigzag: Calculates zigzag pivots and generates an array
  Parameters:
    length: : Zigzag Length
    numberOfPivots: : Max number of pivots to return in the array. Default is 20
    useAlternativeSource: : If set uses the source for genrating zigzag. Default is false
    source: : Alternative source used only if useAlternativeSource is set to true. Default is close
    oscillatorSource: : Oscillator source for calculating divergence
    directionBias: : Direction bias for calculating divergence
    divergenceOption: : 1 - hidden/regular, 2 - regular, 3 - hidden
  Returns: zigzagpivots : Array containing zigzag pivots
zigzagpivotbars : Array containing zigzag pivot bars
zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
newPivot : Returns true if new pivot created
doublePivot : Returns true if two new pivots are created on same bar (Happens in case of candles with long wicks and shorter zigzag lengths)

czigzag(length, numberOfPivots, highSource, lowSource, oscillatorHighSource, oscillatorLowSource, directionBias, divergenceOption) czigzag: Calculates zigzag pivots and generates an array based on custom high and low source
  Parameters:
    length: : Zigzag Length
    numberOfPivots: : Max number of pivots to return in the array. Default is 20
    highSource: : High Source for prices to calculate zigzag.
    lowSource: : Low source for prices to calculate zigzag.
    oscillatorHighSource: : Oscillator high source for calculating divergence
    oscillatorLowSource: : Oscillator high source for calculating divergence
    directionBias: : Direction bias for calculating divergence
    divergenceOption: : 1 - hidden/regular, 2 - regular, 3 - hidden
  Returns: zigzagpivots : Array containing zigzag pivots
zigzagpivotbars : Array containing zigzag pivot bars
zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
zigzagdoubledivergence : Array of double divergence sentiment at each pivot
newPivot : Returns true if new pivot created
doublePivot : Returns true if two new pivots are created on same bar (Happens in case of candles with long wicks and shorter zigzag lengths)

19 feb 2022

Notas de prensa

v12

19 feb 2022

Notas de prensa

v13

2 mar 2022

Notas de prensa

v14

Added:
drawczigzag2(length, numberOfPivots, highSource, lowSource, oscillatorHighSource, oscillatorLowSource, directionBias, showHighLow, showRatios, showDivergence, showDoubleDivergence, linecolor, linewidth, linestyle) drawczigzag2: Same as drawczigzag. But, returns newPivot and doublePivot bools as well.
  Parameters:
    length: : Zigzag Length
    numberOfPivots: : Max number of pivots to return in the array. Default is 20
    highSource: : High Source for prices to calculate zigzag.
    lowSource: : Low source for prices to calculate zigzag.
    oscillatorHighSource: : Oscillator high source for calculating divergence
    oscillatorLowSource: : Oscillator high source for calculating divergence
    directionBias: : Direction bias for calculating divergence
    showHighLow: : show highlow label
    showRatios: : show retracement ratios
    showDivergence: : Show divergence on label (Only works if divergence data is available - that is if we pass valid oscillatorSource and directionBias input)
    showDoubleDivergence: : Show double divergence label
    linecolor: : zigzag line color
    linewidth: : zigzag line width
    linestyle: : zigzag line style
  Returns: zigzagpivots : Array containing zigzag pivots
zigzagpivotbars : Array containing zigzag pivot bars
zigzagpivotdirs : Array containing zigzag pivot directions (Lower High : 1, Higher High : 2, Lower Low : -2 and Higher Low : -1)
zigzagpivotratios : Array containing zigzag retracement ratios for each pivot
zigzagoscillators : Array of oscillator values at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagoscillatordirs: Array of oscillator directions (HH, HL, LH, LL) at pivots. Will have valid values only if valid oscillatorSource is provided as per input.
zigzagtrendbias : Array of trend bias at pivots. Will have valid value only if directionBias series is sent in input parameters
zigzagdivergence : Array of divergence sentiment at each pivot. Will have valid values only if oscillatorSource and directionBias inputs are provided
zigzagdoubledivergence : Array of double divergence sentiment at each pivot
zigzaglines : Returns array of zigzag lines
zigzaglabels : Returns array of zigzag labels