LonesomeTheBlue

ZigZag Multi Time Frame with Fibonacci Retracement

Hello Traders,

This is ZigZag Multi Time Frame with Fibonacci Retracement script. It calculates the ZigZag using Higher Time Frame, draw Fibonacci Retracement lines and put labels accordingly. I already published Zigzag with Fibonacci Levels script but this one is Multi Time Frame and I didn't want to change/update it.

You can set ZigZag Period and Resolution as you wish. Zigzag is calculated using higher time frames (ex: 1day) so you better choose small numbers as Zigzag Period, such 2, 3 etc. you should choose higher time frame wisely, meaning that you should not set 1Day while chart resolution is 1min ;)

It draws Fibonacci levels between 0%-100% and If the price goes higher/lower than 100% level than the script draws Fibonacci Levels accordingly. This means it draws Fibonacci levels until this levels get higher/lower than the price.

"Show Zig Zag" is not enabled by default, you can enable it if you want to see ZigZag as well.

You have options to set Text Color, Line Color, Zigzag Up Color and Zigzag Down Color.

You can set the location of the Fibonnaci Levels -> Left or Right

You also have option to enable/disable following Fibonnaci Levels:
---> 0.236
---> 0.382
---> 0.500
---> 0.618
---> 0.786


I added "Colorful Fibonacci Levels" for fun. if you enable it then Fibonacci line colors will be different randomly on each move, see it for yourself :)

Some Screenshots:

if you enable "Show Zigzag Option":

how the script adjust levels automatically:

if you set Label Location as "Right":

if you enable "Colorful Fibonacci Levels" then Line colors will be changed on each move randomly ;)


Enjoy!

สคริปต์โอเพนซอร์ซ

จากใจ TradingView ผู้เขียนสคริปต์นี้ได้เผยแพร่เป็นโอเพนซอร์ส เพื่อให้ผู้ค้าสามารถเข้าใจและตรวจสอบได้ ยินดีด้วย! คุณสามารถใช้มันได้ฟรี แต่การใช้โค๊ดนี้ซ้ำเพื่อการเผยเเพร่ อยู่ภายใต้ กฎของเรา คุณสามารถตั้งเป็นรายการโปรดเพื่อใช้กับชาร์ตได้

ต้องการที่จะใช้สคริปต์นี้บนชาร์ตใช่ไหม?

ความคิดเห็น

since you exposed my best indicators, i will share with you my 14yrs strategy using fibo zigzag. maybe you will be able to convert it to pine. Great work. it would be great to see what u can do with Gann on zigzag . nice one
+18 ตอบกลับ
@mecmen, I will like to know also.
+2 ตอบกลับ
@mecmen, Can you shar the strategy with me too?
+1 ตอบกลับ
@mecmen, Please share with me as well
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@mecmen, same here, plz share with me also. thank you very much.
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thanks for sharing, i enjoy your zigzag series very much :D
+4 ตอบกลับ
LonesomeTheBlue blackcat1402
@blackcat1402, you are welcome ;)
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Hello, Thanks for the script it gives a warning at processing time

"Processing script...
line 64: The function 'change' should be called on each calculation for consistency. It is recommended to extract the call from this scope.
line 67: The function 'change' should be called on each calculation for consistency. It is recommended to extract the call from this scope.
"
+3 ตอบกลับ
@Mirzya, it's not important
+3 ตอบกลับ