Another ZigZag, yes... I believe though this concerns another angle/principle, therefore I wanted to share How does it work? Given: source for level breach -> close X breaches -> 3 Let's say this is the latest found 'lower low' (LL - blue dot under bar): This bar has been triggered because 3 bars closed under low...
Micro zigzag is created based on similar concepts as that of zigzag but by using lower timeframe intra-bar data. The lines join candle's high/low points but also depict how the price movement within the candle happened. That is, if the high of the candle is reached first, pivot from previous candle join the high first and then low and vice versa. The output can...
Hello Traders, I would like to introduce you Structured zigzag support&resistance. It is based on the ZigZag semafor script made by DevLucem so shout out to him The indicator is used to spot future multi-level Supports and Resistance zones. It is also useful to spot HL or LL or HH or LH zones I's the same zigzag indicator as my other zigzag indicator with...
Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction. If the stock is rising and making new highs, ideally the RSI is reaching new...
Support and Resistance Multiperiod (Zig Zag Based) What is the indicator? • The indicator is a multi period (up to 5 lengths) Support and Resistance indicator calculated based on Zig Zag. Who can use? Scalpers to Long term investors What timeframe to use? • Any timeframe What are the lines? • Green lines are Support levels. • Orange lines are...
Tihs indicator is able to draw cash data for : • Annual timeframe • Monthly, 3month, 6 month timeframe • weekly, 2 week timeframe • daily, 2 day, 3 day timeframe • 6 hour, 12 hour timeframe • 4 hour, 8 hour timeframe • 1 hour, 2 hour, 3 hour timeframe • 5 minute, 10 minute, 15 minute, 30 minute timeframe other options : • displaying information table of cash...
Nothing fancy. Just converted the new matrix library of zigzags ( mZigzag ) into indicator as I sensed it can be useful as indicator. On top of the standard zigzag, the indicator also tracks given oscillators, moving average and volume indicators on each pivots. More indicators can be added programmatically - but it will take up space in chart. Hence, so far I...
Here is a small attempt to automatically identify wedges and flags. Tradingview standard wedge checks for only 4 pivots. In this version, I have considered 5 pivots instead - which can help reduce noise as 4 pivots forming wedge can be quite common. In future, will also try to add more pivots in pattern recognition to make the signal more accurate. If wedge...
Back to my favourite topic - Zigzags. Here is an indicator which can help you visualise volume data on Zigzag swing highs and lows. Settings are pretty simple and provides variety of display options Display options are as demonstrated in the chart has following main types. Regular Plus/Minus - Stacked Plus/Minus - Overlapping Plus/Minus - Opposite...
A guy who automatically draws a horizon from the top of the zigzag *Gray horizon may be repainted The horizon of the characteristic price in the past reacts well, so it is used for contrarian ジグザクの頂点から、自動で水平線を引く奴です ※灰色の水平線はリペイントする可能性があります 過去の特徴的な価格の水平線はよく反応するので、逆張りするとかが用途です
A simple indicator I use to filter out noise. it tracks reversals of a Hull Moving Average, which ultimately highlights short term trends and potential chart patterns. I've also included an option to project the most recent trend forward, if that is something you would like to tinker with.
V V V V V V V Please Read V V V V V V V I ask Peter and he is fine, that im published this script Tell me if you have some ideas or criticism about that sricpt >>>>>>>>>> This is a modified Version of Peter_O's Momentum Based ZigZag <<<<<<<<<<< This is only a test, and i want to share it with the community It works like other ZigZags Because Peters_O's...
This script is a drawing tool which allows users to draw XABCD on the chart and script will tell whether there is any harmonic patterns on the drawings made. The script is based on interactive inputs and requires users to chose XABCD points. Please note This is not a scanner and it will not scan historical bars for harmonic patterns. This needs to be used...
█ OVERVIEW This indicator displays Cyclic Relative Strength Index based on Decoding the Hidden Market Rhythm, Part 1 written by Lars von Thienen. To determine true or false for Overbought / Oversold are unnecessary, therefore these should be either strong or weak. Noise for weak Overbought / Oversold can be filtered, especially for smaller timeframe. █ FEATURES ...
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.
I started off with the intention of creating script to identify Wolfe wave projection. But, soon ran into problem with loops. Realized drawing wedge is more difficult than drawing converging triangle. Hence, took a step back and started working on wedges and triangle identification. Ended up with a messy output which looked like this. Had to take another step...
Both the RSI (Relative Strength Index) and the Linear Regression ( LR ) rank among the most popular momentum indicators used in trading. When used in combination with other technical indicators (ZigZag), both RSI, LR and ZigZag can offer value in validating trade opportunities to optimize your risk management practices. Here’s a look at how to use RSI, LR and...
Another script based on zigzag, divergence, and to yield support and resistence levels. This idea started with below two concepts: ▶ Support and resistence are simply levels where price has rejected to go further down or up. Usually, we can derive this based on pivots. But, if we start looking at every pivot, there will be many of them and may be confusing to...