OPEN-SOURCE SCRIPT
Market Structure HH, HL, LH and LL
it calculates zig zag.This indicator identifies key market structure points — Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL) — using a configurable Zigzag approach. When a new HL or LH forms, it generates:
A suggested Entry level
A calculated Stop Loss (SL)
Three Take Profit (TP1, TP2, TP3) levels based on user-defined risk-reward ratios
The script shows only the most recent trade setup to keep the chart clean, and includes visual labels and alert options for both buy and sell conditions.
A suggested Entry level
A calculated Stop Loss (SL)
Three Take Profit (TP1, TP2, TP3) levels based on user-defined risk-reward ratios
The script shows only the most recent trade setup to keep the chart clean, and includes visual labels and alert options for both buy and sell conditions.
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.
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.
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.