ZigZag HTF

30 באפר׳ 2021

Here 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/snapshots/d/dm8z3wep.png
  
  When the chosen TF is not compatible, a message will be shown:
  s3.tradingview.com/snapshots/m/mjYlArey.png
• 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/snapshots/s/s4Wn7n3n.png

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/snapshots/l/LoyKMsbv.png

Cheers!

1 במאי 2021

הערות שחרור

mauryashivnarayan4, germanherraiz,

I'm sorry, but I don't see it repaint for now
It could be I'm missing something, if that is the case, please send me examples

Now, the idea is all about pivothigh's and pivotlow's

Let's take an example of a pivothigh at a 1h TF.

A highest point needs to have at least 1 lower bar at the right ('future') before it can be a highest point (= pivothigh).
For example there can be only a 12h pivothigh if the 13h bar high is lower (when the 13h bar is closed).

When we do this on a 15' TF, where there are 4 bar's (and not 1) in 1h, the right side should have at least 4 lower high bar's.

In that case after 5 bars there could be a new 1h ZigZag appearing on a 15' chart

I've included labels where a ZigZag normally should be further than the according TF label

2 במאי 2021

הערות שחרור

Added TF's 1', 3', 5', 10'

Also enhanced script