OPEN-SOURCE SCRIPT
Golden Zone Signals with Zigzag [Kodeus]
The Golden Zone Signals with ZigZag indicator combines ZigZag pivots with Fibonacci retracements to highlight key reversal zones and potential trading opportunities. It dynamically detects peaks and troughs, draws Fibonacci levels, and emphasizes the “Golden Zone” retracement areas where price often reacts. With customizable themes and optional trading signals, this tool is designed to support both discretionary and systematic trading approaches.
🔷 Key Features
ZigZag Detection: Automatically identifies swing highs and lows based on customizable periods.
Fibonacci Levels: Plots standard retracement levels (0.236, 0.382, 0.500, 0.618, 0.786) with clear visualization.
Golden Zone Highlighting: Shades the high-probability retracement zones where reversals or continuations often occur.
Trading Signals (Optional): Generates potential Buy/Sell signals based on price action in relation to Fibonacci zones.
Buy signal example:
Sell signal example:
Customizable Themes: Multiple color schemes (Neon, Ocean, Sunset, Monochrome) to fit different charting styles.
🔷 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
🔷 Key Features
ZigZag Detection: Automatically identifies swing highs and lows based on customizable periods.
Fibonacci Levels: Plots standard retracement levels (0.236, 0.382, 0.500, 0.618, 0.786) with clear visualization.
Golden Zone Highlighting: Shades the high-probability retracement zones where reversals or continuations often occur.
Trading Signals (Optional): Generates potential Buy/Sell signals based on price action in relation to Fibonacci zones.
Buy signal example:
Sell signal example:
Customizable Themes: Multiple color schemes (Neon, Ocean, Sunset, Monochrome) to fit different charting styles.
🔷 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
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.
Get access to our exclusive tools: pinescriptmarket.com/
All content provided by Kodeus is for informational & educational purposes only. Past performance does not guarantee future results.
All content provided by Kodeus is for informational & educational purposes only. Past performance does not guarantee future results.
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.
Get access to our exclusive tools: pinescriptmarket.com/
All content provided by Kodeus is for informational & educational purposes only. Past performance does not guarantee future results.
All content provided by Kodeus is for informational & educational purposes only. Past performance does not guarantee future results.
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.