Semafor — Indicator by DevLucem

oscillator trendanalysis zigzagindicator semafor zigzag trend trendtrading

Hello Traders!

I have been away for a while but am recovering back gradually! Here is a gift to all of you.
It is based on the much loved ZigZag++ Script

The Semafor is used to spot future multi-level Supports and Resistance zones.
It is also useful to spot HL or LL or HH or LH zones at different Depth settings.

The red zones are the extreme places where the market has a higher chance of reversing while the green zones have the lowest setting with lower chances of the market reversal
To ease understanding of the code, I used the function `zigzag()` to show the simplicity in calculation

More will be coming this Year!

Release Notes:

Update Request
++ Added No Repaint Settings ✔️
++ Added Unique Sizing to Settings ✔️

Release Notes:

Update Request
++ Added Alerts To Confirmed Zones ✔️
++ Added Decimals To Deviation ✔️

🤖🤖🤖🤖🤖🤖🤖🤖🤖🤖
Automate TradingView Alerts
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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.

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.

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