lmatl

zigzag support&resistance levels [LM]

Hello Traders,

I would like to introduce you zigzag support&resistance levels. It is based on the ZigZag semafor script made by DevLucem so shout out to him

The Semafor is used to spot future multi-level Supports and Resistance zones.
It is also useful to spot HL or LL or HH or LH zones at different Depth settings.

The red zones are the extreme places where the market has a higher chance of reversing while the green zones have the lowest setting with lower chances of the market reversal

I have refactored script and extended it with the horizontals.

The lines can be extended like so if you want to see

The lines also can expire when the price will reach it you can change this in general settings:

Also you can use view from the original script with just label circles


Enjoy!
版本注释: added alert on confirmation of new level, add it to your alarms and you will start getting alerts New level have been confirmed and details about which ones
版本注释: alert is now shown only for visible levels
版本注释: fix of alert behavior
开源脚本

本着真正的TradingView精神,该脚本的作者将其开源发布,因此交易者可以理解和验证它。为作者加油! 您可以免费使用它,但是在发布中重复使用此代码受网站规则的约束。您可以收藏它以在图表上使用。

想在图表上使用此脚本?

评论

Very clean :)
Script 💖
+1 回复
@vinikumar72 Price labels are displaying on left side. Most of labels are overlapping on chart and difficult to read levels.
Is it possible to plot all price label on right side where lines are ending. This will very helpful to read prices.
Looking for new updated version on my master script.
Thank you for sharing great script with users.
+1 回复
After how many candles zigzag is formed, I want zigzag to be made after 1 candle.plz modified or help me to modify..thank you such a nice script...
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lmatl vinikumar72
@vinikumar72, pls modify the depth and deviation those are attributes that defines zigzag level. There is possibity to allow not confirmed level but with every candle it repaints in every candle until confirmed, which I don't find that useful. I might to add this option there to allow/forbid repaint
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@lmatl, thank you
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Bruh, you were the FIRST person I thought of when I recalled this idea I had never developed. When all patterns get crowded in the end and ultimately break, there has been so much volume traded in that patters that it MOST DEFINITELY becomes a spot of supp and res. This can be explicitly examined using the VPVR. All of the high volume nodes (highest bars in set of columns) are areas where a pattern was coming to completion and finally broke out. Its literally one of the only ones I havent seen you do yet and possibly the best if its possible. If you ever are interested in dev it and need any ideas then shoot me a DM....if not, its all good too. Have a great day brother.
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