已更新

Recursive Zigzag

More exclusive indicators from Trendoscope

Subscribe to Trendoscope® Pattern Suite for $69.99/month to get exclusive indicators by this author. You pay right on TradingView and can use them on your charts straight away.

Explore Trendoscope® Pattern Suite

DO NOT USE THIS FOR TRADING. I am just showing off my new found recipe for pattern recognition ;)

This script generates recursive zigzags till there are only 2 pivots. So, the logic goes like this.

Level1 - Standard zigzag calculated from user input of length and max pivots using OHLC values
Level2 - Multi level zigzag calculated on the basis of level1 pivots.
Level3 - Multi level zigzag calculated on the basis of level2 pivots
..
..
..
Level(n) - Multi level zigzag calculated on the basis of level(n-1) pivots and number of derived pivots is 3 or less.

Ability to generate multi level zigzags were explored earlier in many scripts. But, they were just single level up from base and not fully recursive as this. This can be powerful piece of code for pattern recognition algorithms - will be exploring how useful these are going forward.

版本注释

Made few corrections. Plus added option for better visualisation.

版本注释

Update libraries

版本注释

Updated zigzag library version

版本注释

Update to latest rZigzag library

版本注释

Updated library version.
Added option to use only confirmed bars.

版本注释

Hopefully last update for today :)