Skito

OPAL - Zoro

Today I present you a good old script for Price Action analysis & Key levels spotting.

This indicator include : 4 pivots validation scripts on different scales (two for Zig-Zags, one for H/L Spotting, one for Support and Resistances drawing)

1) Dual Zig-Zags] = combination of 2 Zig-Zags draws inner and outer price waves, great for Elliott Waves counts
Faster Zig-Zag is set by default to 3 candles confirmations then it will start a new wave
Slower Zig-Zag is set by default to 15 candles confirmations then it will start a new wave

2) H/L Spotter] = prints Higher-Highs/Higher-Lows for bullish Price Action / Lower-Highs/Lower-Lows for bearish Price Action
Default settings of 2 candles confirmations (periods) reduces lag making it a very fast way to spot high and low movements, each time 2 successive candles respects the last high or low
If Period is set to 1, it will print each counter-trend closes (more levels)
"Right" and "Left" are used for lookbacks, by default 1
Options :
-Show HH/HL/LH/LL labels
-Show HH/HL/LH/LL prices
-Draw Support/Resistance line when a pivot is found, until a new pivot is found in the same direction, great to visualize when a candle close above or below last highs or lows.

3) Supports/Resistances extensions] = calculates its own pivots from differents settings, and extends last 10 pivots (5 highs, 5 lows)

Everything is customizable, all the pivots settings are unlocked

Prices often pullback on naked H/L (naked = untested), thoses levels are powerfull on high timeframes, and such a great tool to make a trading plan.

A great combination for both Smart Money concepts and Elliot Waves trading, on short or high timeframes;
The purpose is to help lazy traders (like me) visualize Market Structures and key levels easier;
Pretty reliable on high timeframes, especially on crypto bull markets.

I strongly believe that candles and prices are the best indicator, there is no lag in Price Action.
Making a plan, sticking to the plan, a strong way to find peace.

Wishing you success !

<o/ This indicator is a gift for the community
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