OPEN-SOURCE SCRIPT
Zig Zag
he ZigZag Indicator is a powerful technical-analysis tool designed to simplify price action by filtering out smaller market movements and highlighting significant swing highs and swing lows.
It helps traders visualize the overall market structure, identify potential trend changes, and analyze important price movements without being distracted by short-term market noise.
🔹 Key Features
Automatically identifies Swing Highs & Swing Lows
Clearly displays major market movements
Helps identify Higher Highs (HH) and Higher Lows (HL)
Helps identify Lower Highs (LH) and Lower Lows (LL)
Simplifies complex price action
Useful for identifying trend direction
Helps analyze potential market structure shifts
Can be used to identify potential support and resistance zones
Useful for breakout, reversal, and pullback analysis
📈 How Traders Can Use It
Bullish Structure:
HH → HL → HH → HL
A sequence of higher highs and higher lows can indicate that the market is maintaining a bullish structure.
Bearish Structure:
LL → LH → LL → LH
A sequence of lower lows and lower highs can indicate bearish market structure.
🎯 Trading Applications
The ZigZag can be used alongside:
Market structure
Support & resistance
Trendlines
Breakout confirmation
Fibonacci retracements
Elliott Wave analysis
Supply & demand
Price-action strategies
⚠️ Important Note
The ZigZag indicator is primarily a market-structure visualization tool. Because the latest swing can change as new price data develops, traders should not treat an unconfirmed ZigZag point as a guaranteed reversal.
For better results, combine ZigZag signals with price action and other confirmation methods.
It helps traders visualize the overall market structure, identify potential trend changes, and analyze important price movements without being distracted by short-term market noise.
🔹 Key Features
Automatically identifies Swing Highs & Swing Lows
Clearly displays major market movements
Helps identify Higher Highs (HH) and Higher Lows (HL)
Helps identify Lower Highs (LH) and Lower Lows (LL)
Simplifies complex price action
Useful for identifying trend direction
Helps analyze potential market structure shifts
Can be used to identify potential support and resistance zones
Useful for breakout, reversal, and pullback analysis
📈 How Traders Can Use It
Bullish Structure:
HH → HL → HH → HL
A sequence of higher highs and higher lows can indicate that the market is maintaining a bullish structure.
Bearish Structure:
LL → LH → LL → LH
A sequence of lower lows and lower highs can indicate bearish market structure.
🎯 Trading Applications
The ZigZag can be used alongside:
Market structure
Support & resistance
Trendlines
Breakout confirmation
Fibonacci retracements
Elliott Wave analysis
Supply & demand
Price-action strategies
⚠️ Important Note
The ZigZag indicator is primarily a market-structure visualization tool. Because the latest swing can change as new price data develops, traders should not treat an unconfirmed ZigZag point as a guaranteed reversal.
For better results, combine ZigZag signals with price action and other confirmation methods.
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。