ZigZag (Using Line Array)

Dilihat 1660
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:

  • Use label array to mark HH, HL, LH and LL
  • Add standard deviation check
Catatan Rilis: Added updates mentioned in the description.
Catatan Rilis: Corrected HL and LH labels
Catatan Rilis: Added ratios display.
Catatan Rilis:
  • 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
Catatan Rilis: Solved array index out of bounds issue
Catatan Rilis: 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.
Catatan Rilis:
  • Corrected minor logical error.
  • Removed DeviationThreshold as it was leading to wrong calculation
Skrip open-source

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