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Band-Zigzag Based Trend FollowerWe defined new method to derive zigzag last month - which is called Channel-Based-Zigzag . This script is an example of one of the use case of this method. 🎲 Trend Following Defining a trend following method is simple. Basic rule of trend following is Buy High and Sell Low (Yes, you heard it right). To explain further - methodology involve finding an established trend which is flying high and join the trend with proper risk and optimal stop. Once you get into the trade, you will not exit unless there is change in the trend. Or in other words, the parameters which you used to define trend has reversed and the trend is not valid anymore. Few examples are: 🎯 Using bands When price breaks out of upper bands (example, Bollinger Band, Keltener Channel, or Donchian Channel), with a pre determined length and multiplier, we can consider the trend to be bullish and similarly when price breaks down the lower band, we can consider the trend to be bearish. Here are few examples where I have used bands for identifying trend Band-Based-Supertrend Donchian-Channel-Trend-Filter 🎯 Using Pivots Simple logic using zigzag or pivot points is that when price starts making higher highs and higher lows, we can consider this as uptrend. And when price starts making lower highs and lower lows, we can consider this as downtrend. There are few supertrend implementations I have published in the past based on zigzags and pivot points. Adoptive-Supertrend-Pivots Zigzag-Supertrend Drawbacks of both of these methods is that there will be too many fluctuations in both cases unless we increase the reference length. And if we increase the reference length, we will have higher drawdown. 🎲 Band Based Zigzag Method Band Based Zigzag will help overcome these issues by combining both the methods. Here we use bands to define our pivot high and pivot low - this makes sure that we are identifying trend only on breakouts as pivots are only formed on breakouts. Our method also includes pivot ratio to cross over 1.0 to be able to consider it as trend. This means, we are waiting for price also to make new high high or lower low before making the decision on trend. But, this helps us ignore smaller pivot movements due to the usage of bands. I have also implemented few tricks such as sticky bands (Bands will not contract unless there is breakout) and Adaptive Bands (Band will not expand unless price is moving in the direction of band). This makes the trend following method very robust. To avoid fakeouts, we also use percentB of high/low in comparison with price retracement to define breakout. 🎲 The indicator The output of indicator is simple and intuitive to understand. 🎯 Trend Criteria Uptrend when last confirmed pivot is pivot high and has higher retracement ratio than PercentB of High. Else, considered as downtrend. Downtrend when last confirmed pivot is pivot low and has higher retracement ratio than PercentB of High. Else, considered as uptrend. 🎯 Settings Settings allow you to select the band type and parameters used for calculating zigzag and then trend. Also has few options to hide the display.
Pine Script® indicator
by Trendoscope
25
Absolute ZigZagThis ZigZag Indicator is a bit unique in it's kind. It uses my own Absolute ZigZag Lib to calculate the pivots: Instead of using percentages or looking more than 1 bar left or right, this Zigzag library calculates pivots by just looking at the current bar highs and lows and the ones of one bar earlier. This is a very fast and accurate way of calculating pivots. The library also features a solution for bars that have both a higher high and a higher low like seen below. You can also use your own colors for the labels and the lines: You can also quickly select a one-colored theme without changing all colors at once:
Pine Script® indicator
by niquedegraaff
14
Auto PitchFan, Fib Extension/Retracement and ZigZag by DGT Aᴜᴛᴏ PɪᴛᴄʜFᴀɴ, Fɪʙ Exᴛᴇɴꜱɪᴏɴ/Rᴇᴛʀᴀᴄᴇᴍᴇɴᴛ ᴀɴᴅ ZɪɢZᴀɢ This study aim to automate PitchFan drawing tool and combines it with Fibonacci Extentions/Retracements and ZigZag. Common setting options, applied to all components of the study     Deviation , is a multiplier that affects how much the price should deviate from the previous pivot in order for the bar to become a new pivot. Increasing its value is one way to get higher timeframe Levels     Depth , affects the minimum number of bars that will be taken into account when building     Historical PitchFan / Fibonacci Levels option will allow plotting of PitchFan / Fibonacci Levels on previous Pivot Highs/Lows █  PɪᴛᴄʜFᴀɴ — is a set of rays spreading out of the point of a trend's beginning. These rays inclined with the coefficients formed by a Fibonacci number sequence. It is recommended to adjust the Pitchfan plottings to fit after the first wave of the trend has passed and the correction has clearly begun. PitchFan rays corresponding to Fibonacci levels appear on a chart and represent inclined lines of support and resistance. Price areas near these rays are estimated areas from which the price can turn around or make a significant rebound. The whole logic of working with a pitchfan is based on one simple idea - if the price has bounced off the level, then the correction is likely to end, and the trend will continue. If the price has broken the first resistance, you should wait for the next level test     - Automatically plots PitchFan Rays, based on Pivot Lows/Highs.     - Ability to set ALERTs for each PitchFan Ray Level     - PitchFan Labels displays the price of the line at the last bar, the price value will be recalculated in each new bar Please check the link provided below with the educational post of how to apply pitchfork, application of pitchfan is same keeping in mind the recommendation stated above █  Fɪʙ Rᴇᴛʀᴀᴄᴇᴍᴇɴᴛs / Exᴛᴇɴꜱɪᴏɴꜱ Fibonacci retracements is a popular instrument used by technical analysts to determine support and resistance areas. In technical analysis, this tool is created by taking two extreme points (usually a peak and a trough) on the chart and dividing the vertical distance by the key Fibonacci coefficients equal to 23.6%, 38.2%, 50%, 61.8%, and 100%. Fibonacci extensions are a tool that traders can use to establish profit targets or estimate how far a price may travel AFTER a retracement/pullback is finished. Extension levels are also possible areas where the price may reverse. IMPORTANT NOTE: Fibonacci extensions option may require to do further adjustment of the study parameters for proper usage. Extensions are aimed to be used when a trend is present and they aim to measure how far a price may travel AFTER a retracement/pullback. I will strongly suggest users of this study to check the education post for further details where to use extensions and where to use retracements     - Automatically plots possible Support and Resistance levels, based on Pivot Lows/Highs.     - Ability to set ALERTs for each Fibonacci Extension/Retracement Level     - Labels displays the level and the level price █  Zɪɢ Zᴀɢ — The Zig Zag indicator is used to help identify price trends and changes in price trends. The Zig Zag indicator plots points on a chart whenever prices reverse by a percentage greater than a Deviation variable. Straight lines are then drawn, connecting these points. The Zig Zag indicator serves base for PitchFan and Fibonacci Retracements / Extensions █  OTHER PitchFan is often used in combination with the other indicators and/or drawing tools such as Fibonacci Retracement, Fibonacci Channels, Fibonacci Time Zone and others. It allows identify the most powerful areas from which price can turn and to get more accurate trading signal Andrews’ Pitchfork, how to apply pitchfork and automated pitchfork study Fibonacci Fans, how to apply fibonacci fans and automated fibonacci speed and resistance fans study Fibonacci Extension / Retracement, where to use extensions and where to use retracements and automated fibonacci extension / retracement / pivot points study Others Fibonacci Channels, how to apply fibonacci channels and automated fibonacci channels study Linear Regression Channels, , what linear regression channels are? and linear regression channel/curve/slope study Disclaimer : Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Pine Script® indicator
by dgtrd
72
Crypto ZigZag RSI strategy 15minThis strategy is designed for crypto markets like ETHUSD/T, BTCUSD/T and so on. It works amazingly with 15 min time frames. Its idea consists in : We have the RSI indicator, and with it we check for the crossover with overbought and oversold levels. At the same time we have the zigzag which is made from the higher highs and the lower lows between a specific price movement in %. For entries, they are going to be based on the crossover of rsi with overbought or oversold levels , combined together with cross over 0 line from the the zigzag. At the same time the strategy has the posibility to go only long, only short or both. Let me know if you have any questions.
Pine Script® strategy
by SoftKill21
4
Momentum Flip Pro - Advanced ZigZag Trading SystemMomentum Flip Pro - Advanced ZigZag Trading System Complete User Guide 📊 What This Indicator Does The Momentum Flip Pro is an advanced position-flipping trading system that automatically identifies trend reversals using ZigZag patterns combined with momentum analysis. It's designed for traders who want to always be in the market, flipping between long and short positions at optimal reversal points. Key Features: Automatically flips positions at each ZigZag reversal point Dynamic stop loss placement at exact ZigZag levels Real-time trading dashboard with performance metrics Capital tracking and ROI calculation Three momentum engines to choose from 🎯 How It Works Entry Signal: When a ZigZag point appears (circle on chart), the indicator: Exits current position (if any) Immediately enters opposite position Places stop loss at the exact ZigZag price Exit Signal: Positions are closed when the next ZigZag appears, then immediately reversed Position Management: Long Entry: ZigZag bottom (momentum turns UP) Short Entry: ZigZag peak (momentum turns DOWN) Stop Loss: Always at the ZigZag entry price Take Profit: Next ZigZag point (automatic position flip) ⚙️ Recommended Settings For Day Trading (5m-15m timeframes): Momentum Engine: Quantum - RSI Length: 9-12 - Quantum Factor: 3.5-4.0 - RSI Smoothing: 3-5 - Threshold: 8-10 For Swing Trading (1H-4H timeframes): Momentum Engine: MACD - Fast Length: 12 - Slow Length: 26 - Signal Smoothing: 9 - MA Type: EMA For Position Trading (Daily): Momentum Engine: Moving Average - Average Type: EMA or HMA - Length: 20-50 📈 How to Use for Trading Add to Chart: Add indicator to your chart Set your starting capital Choose your preferred momentum engine Understanding Signals: Green circles: Strong bullish momentum reversal Red circles: Strong bearish momentum reversal Purple circles: Normal momentum reversal Entry labels: Show exact entry points with tooltips Trading Rules: Enter LONG when you see an up arrow + green/purple circle Enter SHORT when you see a down arrow + red/purple circle Stop loss is automatically at the ZigZag level Hold until next ZigZag appears (exit + reverse) Risk Management: Risk per trade = Entry Price - Stop Loss Position size = (Capital * Risk %) / Risk per trade Recommended risk: 1-2% per trade 💡 Best Practices Market Conditions: Works best in trending markets Excellent for volatile pairs (crypto, forex majors) Avoid during low volume/consolidation Timeframe Selection: Lower timeframes (5m-15m): More signals, higher noise Higher timeframes (1H+): Fewer signals, higher reliability Sweet spot: 15m-1H for most traders Momentum Engine Selection: Quantum: Best for volatile markets (crypto, indices) MACD: Best for trending markets (forex, stocks) Moving Average: Best for smooth trends (commodities) 📊 Dashboard Interpretation The trading dashboard shows: Current Capital: Your running balance Position: Current trade direction Entry/Stop: Your risk levels Statistics: Win rate and performance ROI: Overall return on investment ⚠️ Important Notes Always Active: This system is always in a position (long or short) No Neutral: You're either long or short, never flat Automatic Reversal: Positions flip at each signal Stop Loss: Fixed at entry ZigZag level (doesn't trail) 🎮 Quick Start Guide Beginners: Start with default settings on 1H timeframe Test First: Use paper trading to understand the signals Small Size: Begin with 1% risk per trade Track Results: Monitor the dashboard statistics Adjust: Fine-tune momentum settings based on results 🔧 Customization Tips Color Signals: Enable to see momentum strength Dashboard Position: Move to preferred screen location Visual Settings: Adjust colors for your theme Alerts: Set up for automated notifications This indicator is ideal for traders who prefer an always-in-market approach with clear entry/exit rules and automated position management. The key to success is choosing the right momentum engine for your market and maintaining disciplined risk management.
Pine Script® indicator
by UnknownUnicorn18653794
3
Momentum-based ZigZag (incl. QQE) NON-REPAINTINGI spent a lot of time searching for the best ZigZag indicator. Difficulty with all of them is that they are always betting on some pre-defined rules which identify or confirm pivot points. Usually it is time factor - pivot point gets confirmed after a particular number of candles. This methodology is probably the best when market is moving relatively slow, but when price starts chopping up and down, there is no way the ZigZag follows accurately. On the other hand if you set it too tight (for example pivot confirmation after only 2 or even 1 candle), you will get hundreds of zigzag lines and they will tell you nothing. My point of view is to follow the market. If it has reversed, then it has reversed, and there is no need to wait pre-defined number of candles for the confirmation. Such reversals will always be visible on momentum indicators, such as the most popular MACD. But a single-line moving average can be also good enough to notice reversals. Or my favourite one - QQE, which I borrowed (and improved) from JustUncleL, who borrowed it from Glaz, who borrowed it from... I don't even know where Quantitative Qualitative Estimation originates from. Thanks to all these guys for their input and code. So whichever momentum indicator you choose - yes, there is a pick-your-poison-type selector as in in-famous Moving Average indicators - once it reverses, a highest (or lowest) point from the impulse is caught and ZigZag gets printed. One thing I need to emphasize. This indicator DOES NOT REPAINT. It might look like the lines are a bit delayed, especially when compared to all the other ZigZag indicators on TradingView, but they are actually TRUE. There is a value in this - my indicator prints pivot points and Zigzag exactly on the moment they have been noticed, not earlier faking to be faster than they could be. As a bonus, the indicator marks which impulse had strength in it. It is very nice to see a progressing impulse, but without force - a very likely that reversal on a bigger move is happening. I'm about to publish some more scripts based on this ZigZag algo, so follow me on TradingView to get notified. Enjoy!
Pine Script® indicator
by Peter_O
123
LTB Zigzag CirclesHello All, Today I am here with a new idea and script, " LTB Zigzag Circles ". The idea is to create Circles using last 2 zigzag waves and to catch the breakouts earlier than horizontal lines. if a circle is broken then the script shows entry for Long/Short positions. and if broken circle reappears again then the position is closed. You can change Zigzag period as you wish and see the different results. Here you can see how the script calculates and draws the Circles: Below you can see how the script draws part of the circle on each bar: Optionally the script can show levels: P.S. I haven't tested it as a strategy, Result and Performance may change by Zigzag period, you need to find best Zigzag period according to your strategy. By the way, my Zigzag Circles idea can be improved, if you have any recommendation let me know please ;) Enjoy!
Pine Script® indicator
by LonesomeTheBlue
80
SHAMAZZ = Smoothed Heikin Ashi + MA + ZigZagSHAMAZZ: Smoothed Heikin Ashi + Moving Averages + ZigZag Structure This script is a visual analysis tool that combines three components in one place: Smoothed Heikin Ashi candles • Candles are generated using a two-stage exponential smoothing process applied to open, high, low, and close • Helps visualize general price direction and candle transitions • Supports optional multi-timeframe views using TradingView’s request.security() Moving Averages • Includes two standard moving averages (SMA 50 and SMA 200 by default) • These are plotted on the same timeframe as the main chart or a selected higher timeframe • No trading signals or strategies are generated from the averages ZigZag Pivot Mapping • Identifies swing highs and lows based on user-selected pivot length • Classifies pivots into simple categories such as higher high, lower high, higher low, or lower low • Draws connecting lines between detected pivots • Can optionally display small labels showing the pivot type • The ZigZag is not predictive and only reflects swings already formed by the chosen pivot settings Purpose The script is meant as a charting helper for traders who want to visualize smoothed candles, major moving averages, and swing structure without switching indicators. It does not generate signals, alerts, or trading advice. It does not imply future outcomes, accuracy, or profitability. Note on Higher Timeframes When higher-timeframe values are requested, the script only displays confirmed higher-timeframe candle closes. No lookahead behavior is intended. Users who want the safest and strictest mode should keep all additional timeframe options disabled and use the indicator on one timeframe only. How to Use • Turn components on or off depending on your workflow • Adjust pivot length to make the ZigZag more or less sensitive • Use smoothed candles and moving averages as visual references • Use ZigZag swings only for structure mapping, not for trade signals or forecasts This tool is provided for visual analysis only and does not promise performance or predictive value.
Pine Script® indicator
by V_R_S
Multi-Timeframe MA Based Zigzag[liwei666]🎲 Overview 🎯 This Zigzag indicator build based on different MA such as EMA/HMA/RMA/SMA, support multi-timeframe setting . you can get customer zigzag indicator by change short/long ma length and high-timeframe config(5m/15m/30m/1h/2h) in any symbol. 🎲 Indicator design logic 🎯 entired logic is simple and code looks complex, I‘ll explain core logic here, code already equipped with detailed comments. 1. use close-in EMA's highest/lowest value mark as SWING High/Low when EMA crossover/under, not use func ta.pivothigh()/ta.pivotlow() 2. when EMA crossover/under plot a char as signal like ●/❄/▲, crossover get blue char crossunder get red char 3. latest zigzag line is not drawn until EMA is turned (crossover/under), but signal is realtime 4. you can see diff zigzag structure when you open high-timeframe config, then find regular pattern benefit your trading. 🎲 Settings 🎯 there are 3 group properties in script, just focus on 5 properties in 'GRP1' , 'GRP2' and 'GRP3' are display config. 'GRP1': MA_Type: MA type you can choose(EMA/RMA/SMA/HMA/WMA), default is EMA short_ma_len: short MA length of your current timeframe on chart long_ma_len: long MA length of your current timeframe on chart htf_ma_len: MA length of high timeframe, MA type same as 'MA_Type' config htf_ma_tf: high timeframe ma length, 15/30/60/120 minute 'GRP2': • show_short_zz • show_long_zz  • show_htf_zz: 'GRP3': • show_short_ma_line • show_short_ma_signal • show_long_ma_line • show_long_ma_signal • show_htf_ma_line • show_htf_ma_signal 🎲 Usage 🎯 As we know, MA based signal usually worked fine in trend market , low volatility is unprofitable. 🎯 One of pattern as the chart show below. 1. success example : after a blue ▲ signal, entry long when blue ● signal appear, marked with green box. 2. failed example: after a blue ▲ signal, a red ▼ signal appear, marked with white box. 🎯 BoS(Break of Structure) based on ma zigzag is a good idea I'm implementing, it will be published in next script. Additionally, I plan to publish 20 profitable strategies in 2023; this indicatior not one of them, let‘s witness it together! Hope this indicator will be useful for you :) enjoy! 🚀🚀🚀
Pine Script® indicator
by liwei666
2
Structured zigzag support&resistance [LM]Hello Traders, I would like to introduce you Structured zigzag support&resistance. It is based on the ZigZag semafor script made by DevLucem so shout out to him The indicator 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 I's the same zigzag indicator as my other zigzag indicator with highlight on diagonal lines(highs and lows are automatically classified and also new types of diagonal lines that connects low or highs and extends to right are drawn ) It has two settings: Fist is to control horizontal lines and zigzag setting Second is to control diagonal lines I hope you will enjoy it as I enjoyed to write it. Lukas
Pine Script® indicator
by lmatl
53
Multiband Oscillator - Zigzag versionJust variation of Multi Band oscillator present here: Multi-Band-Channel-Oversold-Overbought-Oscillator Changes are: Instead of regular moving average, here I am using Zigzag Moving average. This is calculated in similar to as explained in: Zigzag-Cloud Instead of ATR, using AZR (Average Zigzag Range) - Average-Zigzag-Range-AZR Rest of the logic remains same. Number of bands used 100 - which means, calculate 100 Bollinger bands with Std Dev Multiplier starting from 0.1 and with step 0.1 for the next one. Which divides price ranges into 200 equal parts. Calculate what is the current range and plot them. Overbought - Oversold levels are dynamics. They are dependent on the max and min state price has reached in last 80 days. Offset and factor can be used to adjust overbought oversold levels.
Pine Script® indicator
by Trendoscope
6
Absolute ZigZag LibLibrary "Absolute_ZigZag_Lib" This ZigZag Library is a Bit different. Instead of using percentages or looking more than 1 bar left or right, this Zigzag library calculates pivots by just looking at the current bar highs and lows and the ones of one bar earlier. This is the most accurate way of calculating pivots and it also eliminates lag. The library also features a solution for bars that have both a higher high and a higher low like seen below. You can also use your own colors for the labels and the lines. You can also quickly select a one-colored theme without changing all colors at once method isHigherHigh(this)   Checks if current pivot is a higher high   Namespace types: Pivot   Parameters:      this (Pivot) : (Pivot) The object to work with. @return (bool) True if the pivot is a higher high, false if not. method isLowerHigh(this)   Checks if current pivot is a lower high   Namespace types: Pivot   Parameters:      this (Pivot) : (Pivot) The object to work with. @return (bool) True if the pivot is a lower high, false if not. method isHigherLow(this)   Checks if current pivot is a higher low   Namespace types: Pivot   Parameters:      this (Pivot) : (Pivot) The object to work with. @return (bool) True if the pivot is a higher low, false if not. method isLowerLow(this)   Checks if current pivot is a lower low   Namespace types: Pivot   Parameters:      this (Pivot) : (Pivot) The object to work with. @return (bool) True if the pivot is a lower low, false if not. method getLastPivotHigh(this)   Gets the last Pivot High   Namespace types: Pivot   Parameters:      this (Pivot ) : (array) The object to work with. @return (Pivot) The latest Pivot High method getLastPivotLow(this)   Gets the last Pivot Low   Namespace types: Pivot   Parameters:      this (Pivot ) : (array) The object to work with. @return (Pivot) The latest Pivot Low method prev(this, index)   Namespace types: Pivot   Parameters:      this (Pivot )      index (int) method last(this, throwError)   Namespace types: Pivot   Parameters:      this (Pivot )      throwError (bool) new(highFirst, theme)   Parameters:      highFirst (bool)      theme (Theme) getLowerTimeframePeriod() Theme   Used to create a (color) theme to draw Zigzag   Fields:      colorDefault (series color)      colorNeutral (series color)      colorBullish (series color)      colorBearish (series color)      coloredLines (series bool) Point   Used to determine a coordination on the chart   Fields:      x (series int)      y (series float) Pivot   Used to determine pivots on the chart   Fields:      point (Point)      isHigh (series bool)      isHigher (series bool)      ln (series line)      lb (series label)
Pine Script® library
by niquedegraaff
15
[JL] Supertrend Zone Pivot Point with zigzag fibThis is an open-source Pine script that generates a Supertrend Zone Pivot Point with Zigzag Fib indicator for TradingView. The indicator displays the Supertrend Zone, pivot points, and Fibonacci levels on the chart. One of the unique features of this indicator is that it uses a Zigzag that does not repaint, ensuring accurate high and low points for the pivot points. Another feature is that when the Supertrend is in an uptrend, only the highest points are taken as pivot points, and when it's in a downtrend, only the lowest points are taken as pivot points. The Fibonacci levels are calculated based on the previous high and low pivot points, with labels displaying the corresponding levels on the chart. The indicator also includes options to show/hide the Zigzag and Fibonacci levels. Overall, this indicator is useful for identifying key pivot points and Fibonacci levels in the Supertrend Zone, providing valuable information for traders to make informed decisions.
Pine Script® indicator
by Jesse.Lau
36
Channel Based Zigzag [HeWhoMustNotBeNamed]🎲 Concept Zigzag is built based on the price and number of offset bars. But, in this experiment, we build zigzag based on different bands such as Bollinger Band, Keltner Channel and Donchian Channel. The process is simple: 🎯 Derive bands based on input parameters 🎯 High of a bar is considered as pivot high only if the high price is above or equal to upper band. 🎯 Similarly low of a bar is considered as pivot low only if low price is below or equal to lower band. 🎯 Adding the pivot high/low follows same logic as that of regular zigzag where pivot high is always followed by pivot low and vice versa. 🎯 If the new pivot added is of same direction as that of last pivot, then both pivots are compared with each other and only the extreme one is kept. (Highest in case of pivot high and lowest in case of pivot low) 🎯 If a bar has both pivot high and pivot low - pivot with same direction as previous pivot is added to the list first before adding the pivot with opposite direction. 🎲 Use Cases Can be used for pattern recognition algorithms instead of standard zigzag. This will help derive patterns which are relative to bands and channels. Example: John Bollinger explains how to manually scan double tap using Bollinger Bands in this video: www.youtube.com This modified zigzag base can be used to achieve the same using algorithmic means. 🎲 Settings Few simple configurations which will let you select the band properties. Notice that there is no zigzag length here. All the calculations depend on the bands. With bands display, indicator looks something like this Note that pivots do not always represent highest/lowest prices. They represent highest/lowest price relative to bands. As mentioned many times, application of zigzag is not for buying at lower price and selling at higher price. It is mainly used for pattern recognition either manually or via algorithms. Lets build new Harmonic, Chart patterns, Trend Lines using the new zigzag?
Pine Script® indicator
by Trendoscope
18
Zero Lag - ZigZag - JDThis is a alternative version of the well known "ZigZag indicator" but it uses turning points of the Jurik ma instead of the traditional "pivot points" that are by definition lagging by a large lookback period, the (almost-) Zero Lag ZigZag lags by about 2 bars on average (depending on the candles forming) The ZigZag pattern can be used to draw trendlines and S/R lines It can also be used for "wave counting" in a way that reduces interpretation. If you find other uses, please leave your ideas in the comments! Shoutout to Everget for the awesome Jurik code!! JD. #NotTradingAdvice #DYOR
Pine Script® indicator
by Duyck
50
RSI Linear Regression with ZigZag by zdmreBoth the RSI (Relative Strength Index) and the Linear Regression ( LR ) rank among the most popular momentum indicators used in trading. When used in combination with other technical indicators (ZigZag), both RSI, LR and ZigZag can offer value in validating trade opportunities to optimize your risk management practices. Here’s a look at how to use RSI, LR and ZigZag (Can be used for divergence patterns.) as part of your trade analysis. If you have new ideas to improve this indicator then let me know please. ***Use it at your own risk
Pine Script® indicator
by zdmre
11
Trend Direction Helper (ZigZag and S/R and HH/LL labels)Hey everyone First of all, I'd like to thank Ricardo Santos, Backtest Rookies for the inspiration for this script. Actually, most of it is coming from them and I only mixed them up (and added my secret sauce ^^). If some of you are not thinking about a trading secret sauce, please get serious for a moment :) Some of you asked me how I do to set the trend direction. You all understood that if you get an UP label, then the price should go up and vice-versa for down. But it's not so easy to define the good signals for each asset and each timeframe. I'm going to repeat what I said yesterday because ... well... that's what trading is about So quoting myself here "The inputs set by default will have to be changed for your asset/timeframe and can't be generic for everything. You have to play with the inputs until the signals will make sense to you The indicator/strategy with a unique configuration that you'll never check or update according to the market condition DOES NOT exit. " BUT... a bit of patience and practice and you might do wonders. The Method I never realized until now but by connecting the higher highs/lower lows, I was drawing zigzag lines. The Zig Zag Master is Ricardo Santos . Please give him a follow, he's awesome For those who don't want to draw on the chart or (my preferred choice) need some inspiration to define your trend directions, this script is for YOU (and your family, your pet, your girlfriend/boyfriend, ...) I think that each asset/timeframe chart has its own history. What worked in a post could work in the future. In that regard, if a trend direction worked in the past, that's the parameter that I'll use to trade with it in a demo account and make sure it's relevant. If not then I will adjust If you're trading with new indicators or a new method right away on your real trading account, you're gonna have a bad time imgflip.com Lines EVERYWHERE The script draws the classical horizontal pivots + the zig zag lines + the Higher Highs/Lower Lows label in just 1 script. I'm very excited to share a script (on which I coded 100 lines out of 500) but no one else did it The horizontal pivots part are coming from Backtest Rookies For more security, you can add a pullback on a moving average after getting a signal. Pullbacks are necessary to limit any eventual loss or maximize your gains by getting in the trend sooner. I really give you a solid method and a great script in my opinion. 6 years of experience given away for FREE :p (when Dave will start thinking as a business man instead :O) Does it repaint ? Getting this question twice a day. You guys are obsessed with the repainting :) Short answer, yes because it will calculate the pivots and zig zags whenever new higher highs/lower lows will be formed. However, the trend direction code is based on the candle close so it shouldn't repaint. If it does, please let me know See you all on Monday Love you all Dave ____________________________________________________________ Be sure to hit the thumbs up. Building those indicators take a lot of time and likes are always rewarding for me :) (tips are accepted too) - If you want to suggest some indicators that I can develop and share with the community, please use my personal TRELLO board - I'm an officially approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies Jump on a 1 to 1 coaching with me - You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python Disclaimer: Trading involves a high level of financial risk, and may not be appropriate because you may experience losses greater than your deposit. Leverage can be against you. Do not trade with capital that you can not afford to lose. You must be aware and have a complete understanding of all the risks associated with the market and trading. We can not be held responsible for any loss you incur. Trading also involves risks of gambling addiction. Please notice I do not provide financial advice - my indicators, strategies, educational ideas are intended to provide only some source code for anyone interested in improving their trading The proprietary indicators and strategies developed by Best Trading Indicator, the object of intellectual property rights are and remain the exclusive property of Best Trading Indicator, at the exclusion of images and videos and texts free of rights or provided by the Company or external legal or physical person. No assignment of intellectual property rights is carried out through these Terms and Conditions. Any total or partial reproduction, modification or use of these properties for any reason whatsoever is strictly prohibited without the express written authorization of the Company.
Pine Script® indicator
by Daveatt
93