Wedge and Flag Finder (Multi - zigzag)

2022年3月18日

Here is a small attempt to automatically identify wedges and flags.

Tradingview standard wedge checks for only 4 pivots. In this version, I have considered 5 pivots instead - which can help reduce noise as 4 pivots forming wedge can be quite common. In future, will also try to add more pivots in pattern recognition to make the signal more accurate.

If wedge comes with a tail, then it is marked as flag :)
Settings are quite simple and they are as shown below

https://www.tradingview.com/x/AJraEYii/

2022年3月19日

版本注释

Few updates

• You can now select wedge based on 5 or 6 pivots (defined in settings)
  
• Theme based colouring option added in the settings. Now users can chose either dark or light theme (Refers to chart background theme).
  
• Option added in settings to hide zigzag lines and labels within wedge.
  
• Angle based logic are refined as well as the settings. Angle restrictions are by default not selected as they often can be unreliable.
  

Snapshot of the latest settings screen look like this:
https://www.tradingview.com/x/BK6jtwNW/

2022年4月2日

版本注释

• Added alert upon new pattern formation.
  
• Added labels for wedge
  

2022年12月26日

版本注释

Updated libraries. Removed max_bars_back

2022年12月26日

版本注释

reverted max_bars_back change as it lead to error.

2024年1月3日

版本注释

Added option to filter only wedge or flag using input options.

2024年1月4日

版本注释

Added condition to alert only after bar confirmation. This is done to avoid repaints of alerts.