instead of the traditional "pivot points" that are by definition lagging by a large lookback period, the (almost-) Zero Lag lags by about 2 bars on average (depending on the candles forming)
The pattern can be used to draw 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!!
if alerts ettings are adjusted ALL ALERTS MUST BE RESET manually, the running alerts don't update automatically!!!
- settings tab and code cleanup.
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.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
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