HeWhoMustNotBeNamed

ZigZag Channel

This is recreation of Donchian Channel - Pivot High Low indicator present here:
But, instead of traditional pivot high lows, this is based on pivots created from zigzag indicator .

This indicator is created on top of existing Zigzag indicator using lines array:
Parameter HighLowLength refers to number of zigzag lines back which can be used to calculate top and bottom of donchian channel.
Release Notes: Added option waitForConfirmation.

Difference it makes is as shown in the picture below:

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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