Trendoscope

2021년 7월 3일 오전 6시 44분

ZigZag (Using Line Array)

NASDAQ 100 IndexNASDAQ

설명

⋅ 2021년 7월 3일 오전 6시 44분

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

릴리즈 노트

⋅ 2021년 7월 3일 오전 10시 34분

Added updates mentioned in the description.

릴리즈 노트

⋅ 2021년 7월 3일 오후 1시 5분

Corrected HL and LH labels

릴리즈 노트

⋅ 2021년 7월 4일 오전 8시 45분

Added ratios display.

릴리즈 노트

⋅ 2021년 7월 5일 오후 12시 49분

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

릴리즈 노트

⋅ 2021년 7월 5일 오후 1시 28분

Solved array index out of bounds issue

릴리즈 노트

⋅ 2021년 7월 11일 오후 1시 27분

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.

릴리즈 노트

⋅ 2021년 7월 13일 오전 11시 47분

Corrected minor logical error.
Removed DeviationThreshold as it was leading to wrong calculation

Zig Zag Indicator Zigzag

코멘트

RozaniGhani-RG

⋅ 2024년 2월 20일 오후 4시 24분

Trendoscope

⋅ 2024년 2월 20일 오후 10시 29분

@RozaniGhani-RG, Thanks. It was bit of earlier implementation of Zigzag. I do not use this method anymore. Calculating the coordinates and drawing separately is a better approach.

Daniel-kay

⋅ 2022년 10월 19일 오전 7시 44분

Hi @HeWhoMustNotBeNamed thank you for sharing!
May I ask you why others parameters like deviation and backstep cannot be set?
The default are the more used ones? Deviation: 5 and Backstep: 3?

Searchingforall

⋅ 2021년 8월 1일 오전 9시 21분

Hi! Is there a way that it can display retracements from 50% to 78% max and filter all the other? Great work!

TAEquint

⋅ 2023년 12월 20일 오전 8시 4분

can you guide ???
i wanted to control how much lines and labels i wants on chart !!!

Henk_Idiogenes

⋅ 2023년 8월 20일 오후 4시 32분

Thanks for contributing the indicator and making it open source. I am interested in finding the values of the turning points from your script. Could you please be so kind as to explain how to do so? Thanks in advance.

Trendoscope

⋅ 2023년 8월 20일 오후 4시 33분

@hindiogine, You cannot find it. That's not how the zigzag works. Last pivot always repaints. Zigzag is mainly used for identifying the patterns rather than exact turning points.

Henk_Idiogenes

⋅ 2023년 8월 21일 오전 12시 38분

@Trendoscope, thanks for your reply. I am interested in finding the turning points to determine the presence of harmonic patterns. I understand that the last leg could move to a different point because the price of the last candle may cause that. However, I can live with that.

Trendoscope

⋅ 2023년 8월 21일 오전 1시 49분

@hindiogine, search for zigzag based libraries in my script list - that will give you the required outcome. However, you need to work with them to understand what you are getting and how to use them for your logic.

NEKSUS_

⋅ 2022년 4월 18일 오후 8시 3분

Thank you a Lot!!
Can you update skript? ( The function 'add_to_zigzag' should be called on each calculation for consistency. It is recommended to extract the call from this scope.)