OPEN-SOURCE SCRIPT
ZZUltra
Overview:
ZZUltra is a powerful price action filter designed to identify significant swing highs and lows by eliminating market noise. Unlike the default, this version offers enhanced customization and dynamic behavior, making it ideal for trend analysis, pattern recognition, and timing entries/exits. Note that it is a lagging indicator and for the optimized live version go to Ultraalgo.com
Key Features:
📏 Adjustable Depth, Deviation & Backstep: Fine-tune how sensitive the indicator is to price reversals.
🔍 Dynamic Labeling: Mark each swing with customizable labels (e.g., UltraBuy/UltraShort).
🎨 Clean Visuals: Optional colored lines and markers that clearly connect turning points without overwhelming your chart.
🧠 Built-in Smart Filtering: Filters out minor fluctuations to focus on meaningful market structure.
🧰 Multi-Timeframe Compatible: Works across any timeframe for both scalpers and swing traders.
Use Cases:
Confirming trend structure (e.g., higher highs/lows in uptrends).
Identifying key reversal points.
Recognizing patterns like head & shoulders or double tops.
Combining with RSI, MACD, or volume for confluence.
ZZUltra is a powerful price action filter designed to identify significant swing highs and lows by eliminating market noise. Unlike the default, this version offers enhanced customization and dynamic behavior, making it ideal for trend analysis, pattern recognition, and timing entries/exits. Note that it is a lagging indicator and for the optimized live version go to Ultraalgo.com
Key Features:
📏 Adjustable Depth, Deviation & Backstep: Fine-tune how sensitive the indicator is to price reversals.
🔍 Dynamic Labeling: Mark each swing with customizable labels (e.g., UltraBuy/UltraShort).
🎨 Clean Visuals: Optional colored lines and markers that clearly connect turning points without overwhelming your chart.
🧠 Built-in Smart Filtering: Filters out minor fluctuations to focus on meaningful market structure.
🧰 Multi-Timeframe Compatible: Works across any timeframe for both scalpers and swing traders.
Use Cases:
Confirming trend structure (e.g., higher highs/lows in uptrends).
Identifying key reversal points.
Recognizing patterns like head & shoulders or double tops.
Combining with RSI, MACD, or volume for confluence.
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.