This indicator is based on the Weis Wave described by David H. Weis in his book Trades About to Happen: A Modern Adaptation of the Wyckoff Method, more info how to use this indicator can be found in this video . The Weis Wave is an adaptation of Richard D. Wyckoff’s method Wave Charts. It works in all time periods and can be applied to all asset types.
THIS CODE IS BASED FROM THE MT4 ZIGZAG INDICATOR
THE ZIGZAG SETTINGS FOR THE MAIN ONE ON TRADINGVIEW DO NOT WORK THE SAME AS MT4
I HOPE U LOVE IT
I have had tons of experience on the ZIGZAG indicator and thought this might help someone.
Enjoy this code. Zigzag is a good indicator in many ways and people underestimate it because of its repainting
Based on my "Renko Reversal Alert".
Will open a long trade and close all short trades, if there is a bullish renko reversal.
Will open a short trade and close all long trades, if there is a bearish renko reversal.
This is just experimenal zigzag
The zigzag % is adaptation of Ricardo santos old Zigzag %
the pivot are from pine script manual
So it try to cross them together
I think it need much work
but as i idea i put it for anypne who is interested
ZigZag Based on price oscilation.
added pattern recognition, also added recognition of head and shoulders and contracting/expanding triangles to previous list of patterns :p
Use Alt Timeframe: enables optional timeframes, use higher timeframes to reduce noise.
Timeframe: said Alt Timeframe.
Show Patterns: toggles Pattern Recognition on.
Renko based zigzag:
mode: can be Traditional or ATR .
modeValue: can be whole number if you use ATR mode, or floating point number in case of Traditional mode.
showOverlay: displays basis Renko overlay.
As requested a TEST script when possible future
Harmonic Patterns may occur, in this case the ABCD pattern.
When A, B, C are valid, the script will plot 2 lines between A-B and B-C, together with
2 white arrows,,where D MUST be in the future to become a valid ABCD pattern.
First of all, D MUST be a Pivot point, after which D must lay between D- and D+
- Best to have it in dark mode
- It would be great with Volume, StochRSI and MACD
1. MA/EMA Cross
2. Dual Bollinger Band
5. Swing High/Low
- Please let me know if you found a better way of implementing ZigZag.