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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

Notas de prensa
Added updates mentioned in the description.
Notas de prensa
Corrected HL and LH labels
Notas de prensa
Added ratios display.
Notas de prensa
  • 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
Notas de prensa
Solved array index out of bounds issue
Notas de prensa
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.
Notas de prensa
  • Corrected minor logical error.
  • Removed DeviationThreshold as it was leading to wrong calculation

Script de código abierto

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
También en:
ZigzagZig Zag Indicator

Exención de responsabilidad

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

Script de código abierto

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
También en:

Exención de responsabilidad

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.