SwingZag Live

SwingZag Live is a structural ZigZag indicator designed to identify validated swing points based on price action confirmation rather than simple lookback periods.

Unlike traditional ZigZag indicators that repaint or shift based on a fixed percentage/pip deviation, this script uses a validation-of-break methodology:

Swing High Validation
A potential high is identified, but it is only confirmed and labeled as a Swing High (SH) once price action creates a candle close below the lowest point of the candle that formed that high.
Swing Low Validation
A potential low is identified, but it is only confirmed and labeled as a Swing Low (SL) once price action creates a candle close above the highest point of the candle that formed that low.

Key Features:

Live Structure Mapping: Lines and labels only appear once the structural "break" occurs, making it a reliable tool for identifying trend changes.
Customizable Visuals: Fully adjustable colors for Swing Highs, Swing Lows, and connecting ZigZag lines via the settings menu.
Alert Ready: Built-in alerts for both New Swing High and New Swing Low confirmations.

This indicator is an ideal tool for traders who use Market Structure, Smart Money Concepts (SMC), or Trend Following strategies and need a mechanical way to define validated pivots.

發行說明

With the latest update, you can now select how the zigzag shows on the chart
From wick to wick, our body to body

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開源腳本

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