OPEN-SOURCE SCRIPT
Updated ZigZag HTF
Here is my 'ZigZag' without using 'security'
There are 2 options:
Be aware, although the ZigZag is mostly correct, a bar which is at the same time a pivothigh and a pivotlow can give unwanted results.
Regretfully for now I haven't be able to improve this.
tradingview.sweetlogin.com/proxy-s3/snapshots/l/LoyKMsbv.png
Cheers!
There are 2 options:
- HTF
Where the scripts plots the present TF 'ZigZag' together with the next 3 Higher TF ZigZag's
(TF can be 15', 30', 1h, 2h, 3h, 4h, 6h, 8h, 12h, D, W, M)
tradingview.sweetlogin.com/proxy-s3/snapshots/d/dm8z3wep.png
When the chosen TF is not compatible, a message will be shown:
tradingview.sweetlogin.com/proxy-s3/snapshots/m/mjYlArey.png - Multiple
Where the set 'leftbars' are multiplied as wanted (9 possible ZigZag's)
('rightbars' is always 1 on the present TF, this will be multiplied as well)
In the case where 'leftbars' are set as '3':
- The Base ZigZag ('1') will result in 3 leftbars and 1 rightbar
- A ZigZag set as '2' will result in 6 leftbars and 2 rightbars
- A ZigZag set as '5 will result in 15 leftbars and 5 rightbars
tradingview.sweetlogin.com/proxy-s3/snapshots/s/s4Wn7n3n.png
Be aware, although the ZigZag is mostly correct, a bar which is at the same time a pivothigh and a pivotlow can give unwanted results.
Regretfully for now I haven't be able to improve this.
tradingview.sweetlogin.com/proxy-s3/snapshots/l/LoyKMsbv.png
Cheers!
Release Notes
mauryashivnarayan4, germanherraiz,I'm sorry, but I don't see it repaint for now
It could be I'm missing something, if that is the case, please send me examples
Now, the idea is all about pivothigh's and pivotlow's
Let's take an example of a pivothigh at a 1h TF.
A highest point needs to have at least 1 lower bar at the right ('future') before it can be a highest point (= pivothigh).
For example there can be only a 12h pivothigh if the 13h bar high is lower (when the 13h bar is closed).
When we do this on a 15' TF, where there are 4 bar's (and not 1) in 1h, the right side should have at least 4 lower high bar's.
In that case after 5 bars there could be a new 1h ZigZag appearing on a 15' chart
I've included labels where a ZigZag normally should be further than the according TF label
Release Notes
Added TF's 1', 3', 5', 10'Also enhanced script
Open-source script
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.
Who are PineCoders?
tradingview.com/chart/SSP/yW5eOqtm-Who-are-PineCoders/
TG Pine Script® Q&A: t.me/PineCodersQA
- We cannot control our emotions,
but we can control our keyboard -
tradingview.com/chart/SSP/yW5eOqtm-Who-are-PineCoders/
TG Pine Script® Q&A: t.me/PineCodersQA
- We cannot control our emotions,
but we can control our keyboard -
Disclaimer
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.
Open-source script
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.
Who are PineCoders?
tradingview.com/chart/SSP/yW5eOqtm-Who-are-PineCoders/
TG Pine Script® Q&A: t.me/PineCodersQA
- We cannot control our emotions,
but we can control our keyboard -
tradingview.com/chart/SSP/yW5eOqtm-Who-are-PineCoders/
TG Pine Script® Q&A: t.me/PineCodersQA
- We cannot control our emotions,
but we can control our keyboard -
Disclaimer
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.