ZigZag ATR

ZigZag ATR Library

A volatility-adaptive ZigZag indicator that uses Average True Range (ATR) instead of fixed percentage deviation to detect pivot points. This makes the ZigZag dynamically adjust to market conditions — tighter during low volatility, wider during high volatility.

Why ATR instead of Percentage?

The standard ZigZag uses a fixed percentage threshold (e.g., 5%) to determine when price has reversed enough to form a new pivot. This approach has limitations:

A 5% move means very different things for a $10 stock vs a $500 stock
During high volatility, fixed percentages create too many pivots (noise)
During low volatility, fixed percentages may miss significant structure

ATR-based deviation solves these issues by measuring reversals in terms of actual volatility, not arbitrary percentages.

Key Features

Volatility-adaptive pivot detection using ATR × multiplier threshold
Automatic adjustment to changing market conditions
Full customization of ATR length and multiplier
Optional line extension to current price
Pivot labels showing price, volume, and price change
Clean library structure for easy integration

Settings

ATR Length — Period for ATR calculation (default: 14)
ATR Multiplier — How many ATRs price must move to confirm a new pivot (default: 2.0)
Depth — Bars required for pivot detection (default: 10)
Extend to Last Bar — Draw provisional line to current price
Display options — Toggle price, volume, and change labels

How to Use

Pine Script®

Exported Types

Settings — Configuration for calculation and display
Pivot — Stores pivot point data, lines, and labels
ZigZag — Main object maintaining state and pivot history

Exported Functions

newInstance(settings) — Creates a new ZigZag object
update(atrValue) — Updates the ZigZag with current ATR (call once per bar)
lastPivot() — Returns the most recent pivot point

Recommended Multiplier Values

1.0 - 1.5 → More sensitive, more pivots, better for scalping
2.0 - 2.5 → Balanced, good for swing trading (default)
3.0+ → Less sensitive, major pivots only, better for position trading

Based on TradingView's official ZigZag library, modified to use ATR-based deviation threshold.

릴리즈 노트

v2
Update v2: Added xATR Display Mode

What's New

Added a new display mode for the Reversal Price Change label: ATR multiples.

You can now see each swing's magnitude expressed as a multiple of ATR (e.g., "+2.35x ATR"), giving you instant insight into the significance of each move relative to current volatility.

New Display Modes

The differencePriceMode setting now accepts three options:

Absolute — Raw price difference (e.g., "+$5.25")
Percent — Percentage change (e.g., "+2.5%")
ATR — ATR multiples (e.g., "+2.35x ATR") ← NEW

Why xATR?

A 3x ATR move is significant regardless of absolute price or percentage
Instantly compare swing magnitudes across different volatility regimes
Better context for position sizing and stop placement
Natural complement to ATR-based pivot detection

Usage Example

Pine Script®

Default Changed

The default differencePriceMode is now "ATR" instead of "Absolute" to better align with the ATR-based nature of this library.

Backward compatible — existing code using "Absolute" or "Percent" modes continues to work unchanged.

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트레이딩뷰의 진정한 정신에 따라, 작성자는 이 파인 코드를 오픈소스 라이브러리로 게시하여 커뮤니티의 다른 파인 프로그래머들이 재사용할 수 있도록 했습니다. 작성자에게 경의를 표합니다! 이 라이브러리는 개인적으로 사용하거나 다른 오픈소스 게시물에서 사용할 수 있지만, 이 코드의 게시물 내 재사용은 하우스 룰에 따라 규제됩니다.

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