This is standard zigzag indicator. I just coded them using lines array feature of pine - so that it can be done in least number of lines of code.
Few possible improvements:
Few possible improvements:
- Use label array to mark HH, HL, LH and LL
- Add standard deviation check
הערות שחרור:
Added updates mentioned in the description.
הערות שחרור:
Corrected HL and LH labels
הערות שחרור:
Added ratios display.
הערות שחרור:
- Previously, using pivotHigh and pivotLow on every bar for last 10 periods caused some inconsistencies in plotting zigzag. Hence, switched to points based calculation. However, zigzags are still created via lines array
- Fixed empty label issue
הערות שחרור:
Solved array index out of bounds issue
הערות שחרור:
Adding option to apply zigzag on different source such as RSI. This enables plotting zigzag and ratios on RSI - which can be used for finding divergence.
הערות שחרור:
- Corrected minor logical error.
- Removed DeviationThreshold as it was leading to wrong calculation
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