Multiband Oscillator - Zigzag version

Just variation of Multi Band oscillator present here: Multi-Band-Channel-Oversold-Overbought-Oscillator

Changes are:
  • Instead of regular moving average, here I am using Zigzag Moving average. This is calculated in similar to as explained in: Zigzag-Cloud
  • Instead of ATR, using AZR (Average Zigzag Range) - Average-Zigzag-Range-AZR

Rest of the logic remains same.

  • Number of bands used 100 - which means, calculate 100 Bollinger bands with Std Dev Multiplier starting from 0.1 and with step 0.1 for the next one.
  • Which divides price ranges into 200 equal parts. Calculate what is the current range and plot them.
  • Overbought - Oversold levels are dynamics. They are dependent on the max and min state price has reached in last 80 days. Offset and factor can be used to adjust overbought oversold levels.


本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物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。