OPEN-SOURCE SCRIPT
Kagi Implementation (+ATR)

My Own Kagi Indicator Implementation!
I couldn't find anywhere on the internet a simple implementation of the Kagi indicator (apart from a seemingly complicated JavaScript implementation).
So I decided to implement it myself and test it against the built-in Kagi indicator calculated by the built-in security function - They ended up exactly the same! (You can see my orange plot completely covers the security's purple plot)
My calculations are based on this article from a site called "euroland", the article is called "Kagi Chart" (I can't post the link because of TradingView restrictions)
Bonus: The built-in kagi indicator uses only Fixed Amount Reversal Size. One that is interested in an ATR Reversal Size can modify the calculation a bit (see script's comments) to easily create and use it.
Some interesting info about the security function I discovered while doing this script:
After I implemented it I noticed that my calculations are the same except the fact that all my values are delayed by 1 bar (relative to the security's indicator). After some research I discovered that the security function uses future data in it's calculation and therefore it cannot be trusted for testing live-trading strategies, unless it is given the appropriate parameters (see script for example).
Have fun trading and don't lose money!
I couldn't find anywhere on the internet a simple implementation of the Kagi indicator (apart from a seemingly complicated JavaScript implementation).
So I decided to implement it myself and test it against the built-in Kagi indicator calculated by the built-in security function - They ended up exactly the same! (You can see my orange plot completely covers the security's purple plot)
My calculations are based on this article from a site called "euroland", the article is called "Kagi Chart" (I can't post the link because of TradingView restrictions)
Bonus: The built-in kagi indicator uses only Fixed Amount Reversal Size. One that is interested in an ATR Reversal Size can modify the calculation a bit (see script's comments) to easily create and use it.
Some interesting info about the security function I discovered while doing this script:
After I implemented it I noticed that my calculations are the same except the fact that all my values are delayed by 1 bar (relative to the security's indicator). After some research I discovered that the security function uses future data in it's calculation and therefore it cannot be trusted for testing live-trading strategies, unless it is given the appropriate parameters (see script for example).
Have fun trading and don't lose money!
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.