ZigZagCore

ZigZagCore

ZigZagCore is a generic ZigZag engine that works with any user-defined threshold (ATR-based, volatility-based, fixed ticks, etc.).

API

Pine Script®

import ReflexSignals/ZigZagCore/<version> as zz var zz.ZzState state = zz.zz_new() float thr = ... // your threshold in price units state := zz.zz_update(state, thr)

zz_update(state, thr)
Parameters:
state (ZzState)
thr (float)

ZzState
Fields:
dir (series int)
highSinceLow (series float)
lowSinceHigh (series float)
lastHighLevel (series float)
lastLowLevel (series float)
lastHighIndex (series int)
lastLowIndex (series int)
highSinceLowIndex (series int)
lowSinceHighIndex (series int)
isNewHigh (series bool)
isNewLow (series bool)

Directional State
dir = 1 → market is in an upswing
dir = -1 → market is in a downswing
dir = na → initial undecided state

Live Swing Tracking (Unconfirmed Leg)
Continuously updated swing extremes:
highSinceLow — highest price since the last confirmed low
lowSinceHigh — lowest price since the last confirmed high
Their corresponding bar indices

These fields describe the current active swing leg, which updates every bar until a pivot is confirmed.

Pivot Detection
A pivot confirms only when price moves beyond the prior swing extreme by more than threshold. When this occurs, the library sets:
isNewHigh = true (on the detection bar only) and updates lastHighLevel, lastHighIndex
isNewLow = true and updates lastLowLevel, lastLowIndex

Release Notes

v2
Added highBroken and lowBroken fields in ZzState

Updated:
ZzState
Fields:
dir (series int)
highSinceLow (series float)
lowSinceHigh (series float)
lastHighLevel (series float)
lastLowLevel (series float)
lastHighIndex (series int)
lastLowIndex (series int)
highSinceLowIndex (series int)
lowSinceHighIndex (series int)
isNewHigh (series bool)
isNewLow (series bool)
highBroken (series bool)
lowBroken (series bool)

Release Notes

v3 added 2 new features:
-Stale bars: a direction switch will happen if a high/low has been standing and stale for N bars
-High/low break: a direction switch will be forced if a high/low is broken, despite the volatility threshold not being met

Both these changes are designed to improve stability in the face of rising and falling volatility measurements, while maintaining the direction switching rule (high must follow low, must follow high, etc.)

Updated:
zz_update(state, thr, staleBars)
Parameters:
state (ZzState)
thr (float)
staleBars (int)

Release Notes

v4

Bugfix for stale bars logic to ensure correct pivot bar detection.

Release Notes

v5 Bugfix for live leg.

Release Notes

v6
Refactor for handling stale bars and break logic together.

Updated:
zz_update(state, thr, staleBars, switchOnPriorLevelBreak)
Parameters:
state (ZzState)
thr (float)
staleBars (int)
switchOnPriorLevelBreak (bool)

ZzState
Fields:
dir (series int)
lastHighLevel (series float)
lastLowLevel (series float)
lastHighIndex (series int)
lastLowIndex (series int)
candidateHigh (series float)
candidateLow (series float)
candidateHighIndex (series int)
candidateLowIndex (series int)
pullbackLow (series float)
reboundHigh (series float)
pullbackLowIndex (series int)
reboundHighIndex (series int)
highSinceLow (series float)
lowSinceHigh (series float)
highSinceLowIndex (series int)
lowSinceHighIndex (series int)
isNewHigh (series bool)
isNewLow (series bool)
highBroken (series bool)
lowBroken (series bool)

Pine library

In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.

ReflexSignals

Disclaimer

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Pine library

ReflexSignals