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
Notes de version:
Added updates mentioned in the description.
Notes de version:
Corrected HL and LH labels
Notes de version:
Added ratios display.
Notes de version:
- 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
Notes de version:
Solved array index out of bounds issue
Notes de version:
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.
Notes de version:
- Corrected minor logical error.
- Removed DeviationThreshold as it was leading to wrong calculation
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