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Zig Zag Indicator

zigzag support&resistance multi timeframe levels [LM]Hello Traders, I would like to introduce you zigzag support&resistance multi timeframe levels. It is based on the ZigZag semafor script made by DevLucem so shout out to him 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. I's the same zigzag indicator as my other zigzag indicator with distinction that supports multi timeframe levels as well, with depth setting for every timeframe. I hope you will enjoy it as I enjoyed to write it. Lukas
Pine Script™ indicator
by lmatl
13
Zigzag SARThis is another ZigZag script. But the difference between this and other ZigZag indicators on TV is that here we find highs and lows based on Parabolic SAR. It repaints? YES. On last line of ZigZag you get repainting, because the highs and lows get confirmation only if direction (SAR dots) changes. This shouldn't be used to forecast highs and lows directly anyway, it's just a visual guide for past highs and lows. I'm using it to spot harmonic patterns and Wolfe waves more easily. The plan is to draw these automatically in the future, but my skills at Pinescript are limited at the moment. PS. Ideas for my scripts are coming from @Jegejig1 on Stocktwits, if you want to know who to blame lol
Pine Script™ indicator
by Troptrap
4
Zigzag Candles SupertrendHere it is, as promised, supertrend based on Zigzag candles. Earlier scripts on the Zigzag Candles expedition are here: Zigzag-Candles Zigzag-Candles-MA Zigzag candles parameters Length and CandleSize remain as is. Along with this, we also add MALength and AtrMult to calculate ATR based on the new candles and to use it to derive supertrend. UseZigzagCandles - selecting this will apply supertrend on zigzag candles and ignore the actual price candles completely. UseClosePrices - Uses close price as base instead of high/low. Can be used in both modes of price candles and zigzag candles.
Pine Script™ indicator
by Trendoscope
5
Zigzag CandlesCan't deny that I am obsessed with zigzags. Been doing some crazy experiments with it and have many more in pipeline. I believe zigzag can be used to derive better trend following methods. Here is an attempt to visualize zigzag as candlesticks. Next steps probably to derive moving average, atr (although there was an attempt of AZR made earlier) and probably supertrend too ;) Input parameters include ZigzagLength (to calculate zigzag) and CandleSize (number of zigzag pivots in each candle) CandleSize can be 3 or more. Every time we collect pivots which are equal to CandleSize, we derive one candle. And when we derive a candle, we remove all old pivots except the last one. Becauase, the last pivot acts as open to the next bar and is required. Body of the candle tells the start and end zigzag pivot in the range. And Wicks signify highest and lowest pivots in the range. High and Low wicks are placed at the pivot where high and lows are formed. Hence, you can see them at different positions each time. Thanks to @RicardoSantos for suggesting boxes for candles - while I was trying to achieve this with plotbar
Pine Script™ indicator
by Trendoscope
9
Multi ZZ - Support/ResistenceExperimental and probably can be improved further. Method of deriving support/resistence is as follows: Calculate Zigzags and start pushing them to SR array as and when they form If any of the existing item is within the small distance - merge them. ATR is used to find if the prices are close by. Whenever we merge two pivots, strength of support keeps increasing. This means, price has bounced off this point more time. Hence, keep track of number of pivots merged together. Keep removing old pivots which are far away based on Loopback input And that's all we got the full list of support and resistence points. Now, to filter insignificant pivots, chose only those points which has been merged by more than Min Pivots input. Width of the support/resistence lines also will be thicker for the pivots which has more count. Hence thicker line imply strong support and resistence whereas the thinner ones are minor ones.
Pine Script™ indicator
by Trendoscope
7
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
Multi Level ZigzagAt first I thought of doing double zig zag. Once developed I thought it is not much effort to make it multi level zigzag. This script is not same as multi-zigzag indicator (link in the end). In multi zigzag indicator we use zigzag based on different length and each zigzag has no relation to each other. In this script however, each zigzags are related to each other. We cannot just derive Zigzag 4 without deriving Zigzag 3. (Though we can hide each of them individually) The logic is simple. Zigzag1: This is the basic zigzag plotted based on given length. Zigzag2, Zigzag2, Zigzag3 : These are built based on lower level zigzags. For example, Zigzag2 is built based on Zigzag1 pivots. For calculation, we just use N*2 number of Zigzag1 pivots to derive the next level. Similarly Zigzag2 will become input for Zigzag 3 and Zigzag3 will become input for Zigzag4 Input parameters allow you to chose upto 4 levels of zigzag along with zigzag line color and length. Max array lines also defines how many lines back you want to calculate the zigzag pivots and display then in the stats. Lowering this number will not reduce the number of lines - but, it will limit possibility of calculating higher level zigzags. Stats table just highlight which pivots are applicable for which outer level. Application: Can be used in pattern recognization scripts to improve accuracy. Disclaimer: This is not working in intraday charts. Nothing I could do at this point of time. Use it only for daily + timeframes. Related scripts:
Pine Script™ indicator
by Trendoscope
9
Multi ZigZag EW - ImpulseSimilar to the previous script on Elliot Wave Impulse: But, here we are trying to use multiple zigzags instead of just one. You can select upto 4 different Zigzags and set different length, line color, line width and style for each. Parameters ShowZigZag , ZigZag Length, ZigZag Color, ZigZag Width, ZigZag Style can be used for adjusting these. ErrorPercent lets you set error threshold calculation of ratios for pattern identification EntryPercent is used for marking Entry and T.Stop (Tight Stoploss) based on the length of Wave 2. Target of the script is same as before. We are trying to identify Wave 1 and 2 of Elliot Impulese Wave and then project Wave 3. Chances of price following the pattern are there. Hence, we set Stoploss based on levels which fails the pattern. Ratios are taken from below link: elliottwave-forecast.com - Section 3.1 Impulse Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1 - used for identifying the pattern. Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2 - used for setting the targets Since we use multiple zigzags, labels can be quite messy at times. In such scenarios, just disable one of the zigzag length causing label overlaps.
Pine Script™ indicator
by Trendoscope
27
Multi ZigZagI created this as basis for my next scripts. We are just trying to plot multiple zigzags with different length basis here. Input allows you to select different Length , Width , Color and Line Style for each Zigzags. Max_pivot_size says how many pivots each Zigzag can have. Value 100 means, each zigzag will show 99 lines joining 100 points. Additional option ShowStatsTable allows you to print pivots in a table. Table only shows selected zigzags.
Pine Script™ indicator
by Trendoscope
14
Zig Zag Channels [LuxAlgo]The Zig Zag indicator is a useful indicator when it comes to visualizing past underlying trends in the price and can make the process of using drawing tools easier. The indicator consists of a series of lines connecting points where the price deviates more than a specific percentage from a maximum/minimum point ultimately connecting local peaks and troughs. This indicator by its very nature backpaints by default, meaning that the displayed components are offset in the past. 🔶 USAGE The Zig Zag indicator is commonly used to returns points of references for the usage of specific drawing tools, such as Fibonacci retracements, fans, squares...etc. The proposed indicator estimates peaks and troughs by using rolling maximums/minimums with a window size determining their significance. This window size approach allows us to have an indicator that works with a certain regularity no matter the scale of the price, something the percentage-based approach struggles with. Additionally, one upper and lower extremity are displayed, highlighting the price point that deviates the most from the Zig Zag lines. A common usage also includes the easy determination of Elliot wave patterns in the price. The Zig Zag indicator above highlights a downtrending motive wave. 🔹 Extremities The novel approach taken by this Zig Zag indicator is the addition of two extremities derived from the distance between the price and the Zig Zag line, thus returning channels. It is uncommon seeing extremities in Zig Zag indicators since the line connecting peaks and troughs has rarely any other utility than seeing trend variations with more clarity and is not meant to provide an accurate estimate of underlying local trends in the price. This channel can be useful to study the potential relationship between underlying trends and the Zig Zag line. A low width between the Zig Zag and the upper extremity indicates price variations mostly located below the Zig Zag while equal width indicates more linear trends. When the indicator is extended to the last line, the extremities provide potential support and resistances, thus making this indicator able to forecast price variations. 🔶 SETTINGS Length: Determines the significance of the detected peaks and troughs. Extend To Last Bar: Extend the most recent line to the most recent closing price value. Show Extremities: Displays the extremities. Show Labels: Display labels highlighting the high/low prices located at peaks and troughs. 🔹 Style Upper Extremity Color: Color of the upper extremity displayed by the indicator. Zig Zag Color: Color of the ZigZag lines. Lower Extremity Color: Color of the lower extremity displayed by the indicator.
Pine Script™ indicator
by LuxAlgo
47
Swing Failure Pattern Inquisitor SFP Inquisitor v0.2a coded by Bogdan Vaida Code for Swing High, Swing Low and Swing Failure Pattern. Note that we're still in the alpha version, bugs may appear. Note that the number you set in your Swing History variable will also be the minimum delay you see until the apples appear. This is because we're checking the forward "history" too. The SFP will only check for these conditions: - high above Swing History high and close below it - low below Swing History high and close above it In some cases you may see an apple before the SFP that "doesn't fit" with the SFP conditions. That's because that apple was drawn later and the SFP actually appeared because of the previous apple . 20 candles later. Legend: 🍏 - swing high 🍎 - swing low 🧺 - candle where the last swing was driven from 🍌 - swing failure pattern 🍎🍌 - hungry scenario: swing low but also a SFP compared to the last swing
Pine Script™ indicator
by vaidab
116
Zig Lines with Percent & ValueOverview, Features, and Usage: The Zig Lines with Percent & Value is an indicator that highlights the highest and lowest points of the market from pivot points and zigzag lines based on the ZigZag Period setting. By a default value of 13 for the ZigZag Period this works well on Bitcoin or other alt coins on the 1 hour or higher timeframe charts. What makes this indicator unique is that it draws a green line to signify an uptrend or a red line to signify a down trend. It will also show the percent difference between the previous point/line, for example: If you see a -negative percentage point with a red line drawn to it, then you are looking at a low pivot point and then as the green line is drawn to a +positive percentage value the percentage you see is the difference between the two points. This is great to see a trend reversal as you can look at previous pivot points and notice about how far the price moves before it changes direction (trend reversal). There is an invisible EMA line that is used to assist with coloring the negative vs positive values. The value above or below the percentage is the lowest or highest price at that pivot point . The display of the price at the pivot point depends on your ZigZag Period setting and the timeframe of your chart. Added Bollinger Bands as it fits perfectly with the visuals of the Zig Lines & Pivots. Usage of Bollinger Bands: ~As the price or candle gets close to the top or bottom of the Bollinger band it can give you a better confirmation that the pivot location is at it's final place, and the trend is more likely to switch directions. It’s important to know this indicator should not be used for alerts of any type it does repaint as the green or red line is drawing based on live chart data and it can change depending on the direction of the market. This is a great visual tool for trend analysis or to be used with other indicators as a confirmation for a possible good entry or exit position. Credits ( and consent to use ): Credits go to user LonesomeTheBlue for creation of this 'Double Zig Zag with HHLL' script. The addition of the Value above/below the Percentages is from user Noldo and that script is found here: The Bollinger Bands setup was suggested by user countseven12 and his script that uses the same BB setup is found here: References: 1. Chen, James. (2021 March 15). Zig Zag Indicator . Received from http: www.investopedia.com 2. Mitchell, Cory. (2021 April 30). Pivot Points . Received from http: www.investopedia.com
Pine Script™ indicator
by mmoiwgg
34
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
81
Raff Regression Channel by DGTRᴀꜰꜰ Rᴇɢʀᴇꜱꜱɪᴏɴ Cʜᴀɴɴᴇʟ (RRC) This study aims to automate Raff Regression Channel drawing either based on ZigZag Indicator or optionally User Preference The Raff Regression Channel , developed by Gilbert Raff, is based on a linear regression, which is the least-squares line-of-best-fit for a price series, with evenly spaced trend lines above and below . The width of the channel is set by determining the high or low that is the furthest from the linear regression. Because the channel distance is based off the largest pullback or highest peak within a trend, for effectively drawing and using a Raff Regression Channel it is recommend/required that a Raff Regression Channel is applied to “mature” trends. Knowing this requirement, for better automated drawing results this study benefits from the Zig Zag Indicator, where the Zig Zag indicator is used to help identify price trends and changes in price trends. Option to manually adjust lengths for drawing a Raff Regression Channel is also made available. Using a Raff Regression Channel Once The Raff Regression Channel is drawn, covering an existing trend, Exᴛᴇɴꜱɪᴏɴ Lɪɴᴇꜱ are drawn to identify ᴛʜᴇ ꜱᴜᴘᴘᴏʀᴛ﹐ʀᴇꜱɪꜱᴛᴀɴᴄᴇ ᴏʀ ʀᴇᴠᴇʀꜱᴀʟ ᴘᴏɪɴᴛꜱ The trend is up as long as prices rise within this channel. An uptrend may be reversing (not always, but likely) when price breaks below the channel extension . The trend is down as long as prices decline within the channel. Similarly, a downtrend may be reversing (not always, but likely) when price breaks above the channel extension . Moves outside the channel extensions can be indication of a reversal or can denote overbought or oversold conditions For further details please refer to education post Raff Regression Channel █  FEATURES     - AUTO or MANUALLY adjusted Raff Regression Channel and Channel Extentions drawing     - ALERTs, for Linear Regression Line, Raff Regression Upper and Lower Channel Extentions     - LSMA , Least Squares Moving Average, in other words Linear Regression Curve █  SETTINGS Setting Loopback and Number of Bars are the most important part for The Raff Regression Channel, where ;     - Lookback, defines where the Raff Regression Channel is starting, it is recommended to set to a trend begining     - Number of Bars, defines how many bars to be assumed for calculation, or simply stated the end of the Raff Regression Channel drawing (not extentions but the main channel, extentions by default will be drawn till the last bar) Setting of Loopback and Number of Bars is performed eigher automatically based on Zig Zag indicator or users may prefer to set them manually. If selected automatically then     - Deviation and Depth values of Zig Zag indicator are used for calculations (enabling visually plotting of ZigZag Lines will help to identify better visually the points), where ; 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. Depth, affects the minimum number of bars that will be taken into account when building Short-term traders may wish to apply the channel to small waves of a trend so they can reduce the value of the Deviation and Depth █  OTHER CHANNEL CONSEPTS Linear Regression Channels, , what linear regression channels are? and linear regression channel/curve/slope study Fibonacci Channels, how to apply fibonacci channels and automated fibonacci channels study Andrews’ Pitchfork, how to apply pitchfork and automated pitchfork study Special Thanks to @Kiss66000 for his kind suggestion, je vous remercie beaucoup @Kiss66000 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
47
ZigZag HTFHere is my 'ZigZag' without using 'security' There are 2 options: HTF Where the scripts plots the present TF 'ZigZag' together with the next 3 Higher TF ZigZag's (TF can be 15', 30', 1h, 2h, 3h, 4h, 6h, 8h, 12h, D, W, M) s3.tradingview.com When the chosen TF is not compatible, a message will be shown: s3.tradingview.com Multiple Where the set 'leftbars' are multiplied as wanted (9 possible ZigZag's) ('rightbars' is always 1 on the present TF, this will be multiplied as well) In the case where 'leftbars' are set as '3': - The Base ZigZag ('1') will result in 3 leftbars and 1 rightbar - A ZigZag set as '2' will result in 6 leftbars and 2 rightbars - A ZigZag set as '5 will result in 15 leftbars and 5 rightbars s3.tradingview.com Be aware, although the ZigZag is mostly correct, a bar which is at the same time a pivothigh and a pivotlow can give unwanted results. Regretfully for now I haven't be able to improve this. s3.tradingview.com Cheers!
Pine Script™ indicator
by fikira
23
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
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Pine Script™ indicator
by dgtrd
78
Fibonacci Extension / Retracement / Pivot Points by DGTFɪʙᴏɴᴀᴄᴄɪ Exᴛᴇɴᴛɪᴏɴ / Rᴇᴛʀᴀᴄᴍᴇɴᴛ / Pɪᴠᴏᴛ Pᴏɪɴᴛꜱ This study combines various Fibonacci concepts into one, and some basic volume and volatility indications █  Pɪᴠᴏᴛ Pᴏɪɴᴛꜱ — is a technical indicator that is used to determine the levels at which price may face support or resistance. The Pivot Points indicator consists of a pivot point (PP) level and several support (S) and resistance (R) levels. PP, resistance and support values are calculated in different ways, depending on the type of the indicator, this study implements Fibonacci Pivot Points The indicator resolution is set by the input of the Pivot Points TF (Timeframe). If the Pivot Points TF is set to AUTO (the default value), then the increased resolution is determined by the following algorithm:    for intraday resolutions up to and including 5 min, 4HOURS (4H) is used    for intraday resolutions more than 5 min and up to and including 45 min, DAY (1D) is used    for intraday resolutions more than 45 min and up to and including 4 hour, WEEK (1W) is used    for daily resolutions MONTH is used (1M)    for weekly resolutions, 3-MONTH (3M) is used    for monthly resolutions, 12-MONTH (12M) is used If the Pivot Points TF is set to User Defined, users may choose any higher timeframe of their preference █  Fɪʙ Rᴇᴛʀᴀᴄᴇᴍᴇɴᴛ — 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%. This study implements an automated method of identifying the pivot lows/highs and automatically draws horizontal lines that are used to determine possible support and resistance levels █  Fɪʙᴏɴᴀᴄᴄɪ Exᴛᴇɴꜱɪᴏɴꜱ — 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. This study implements an automated method of identifying the pivot lows/highs and automatically draws horizontal lines that are used to determine possible support and resistance levels. 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 Important input options for both Fibonacci Extensions and Retracements 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 Fib Retracement Levels Depth, affects the minimum number of bars that will be taken into account when building █  Volume / Volatility Add-Ons   High Volatile Bar Indication   Volume Spike Bar Indication   Volume Weighted Colored Bars This study benefits from build-in auto fib retracement tv study and modifications applied to get extentions and also to fit this combo 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
229
Kagi Implementation (+ATR)My Own Kagi Indicator Implementation! I couldn't find anywhere on the internet a simple implementation of the Kagi indicator (apart from a seemingly complicated JavaScript implementation). So I decided to implement it myself and test it against the built-in Kagi indicator calculated by the built-in security function - They ended up exactly the same! (You can see my orange plot completely covers the security's purple plot) My calculations are based on this article from a site called "euroland", the article is called "Kagi Chart" (I can't post the link because of TradingView restrictions) Bonus: The built-in kagi indicator uses only Fixed Amount Reversal Size. One that is interested in an ATR Reversal Size can modify the calculation a bit (see script's comments) to easily create and use it. Some interesting info about the security function I discovered while doing this script: After I implemented it I noticed that my calculations are the same except the fact that all my values are delayed by 1 bar (relative to the security's indicator). After some research I discovered that the security function uses future data in it's calculation and therefore it cannot be trusted for testing live-trading strategies, unless it is given the appropriate parameters (see script for example). Have fun trading and don't lose money!
Pine Script™ indicator
by amit1337
14