OPEN-SOURCE SCRIPT
Simplified Pivot Zone & ZigZag Indicator
Simplified Pivot Zone & ZigZag Indicator (中樞簡易版 by OldGrumpyCat)
This indicator is a streamlined technical analysis tool that combines a dynamic adaptive pivot zone with an integrated ZigZag swing structure overlay. It is designed to help traders identify key areas of price equilibrium, significant swing highs and lows, and potential trend reversals — all within a single, lightweight script.
The pivot zone is constructed by computing a cumulative average deviation of price from a dynamically adjusted baseline. This produces an upper and lower band that forms a shaded central zone, visually highlighting regions where price has historically found support or resistance. The width of this zone scales with the user-defined Size parameter, making it adaptable to different instruments and timeframes.
The ZigZag component automatically connects significant swing highs and lows based on a configurable lookback depth (Depth) and deviation threshold. This makes it straightforward to read market structure, identify the prevailing trend direction, and map out wave sequences for further analysis. A Repaint toggle is provided: when enabled, the ZigZag updates dynamically on the current bar for real-time feedback; when disabled, lines are only drawn upon confirmed bar closes, eliminating repainting artifacts.
All visual elements — including the pivot zone fill color, line segment color, zone width, and line thickness — are fully customizable through the indicator's input panel, ensuring seamless integration with any chart theme or trading workflow.
This indicator is a streamlined technical analysis tool that combines a dynamic adaptive pivot zone with an integrated ZigZag swing structure overlay. It is designed to help traders identify key areas of price equilibrium, significant swing highs and lows, and potential trend reversals — all within a single, lightweight script.
The pivot zone is constructed by computing a cumulative average deviation of price from a dynamically adjusted baseline. This produces an upper and lower band that forms a shaded central zone, visually highlighting regions where price has historically found support or resistance. The width of this zone scales with the user-defined Size parameter, making it adaptable to different instruments and timeframes.
The ZigZag component automatically connects significant swing highs and lows based on a configurable lookback depth (Depth) and deviation threshold. This makes it straightforward to read market structure, identify the prevailing trend direction, and map out wave sequences for further analysis. A Repaint toggle is provided: when enabled, the ZigZag updates dynamically on the current bar for real-time feedback; when disabled, lines are only drawn upon confirmed bar closes, eliminating repainting artifacts.
All visual elements — including the pivot zone fill color, line segment color, zone width, and line thickness — are fully customizable through the indicator's input panel, ensuring seamless integration with any chart theme or trading workflow.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.