ZL Trend Indicator█ OVERVIEW
ZL Trend Indicator (ZLT) is an original indicator inspired by the concept of Zero Lag moving averages and order block retest entries.
The core idea: when the Zero Lag MA crosses the base EMA, an ATR-based support/resistance zone is drawn. A triangle signal fires when price retests that zone and bounces back — confirming the move rather than chasing the initial cross.
This script is a fully independent implementation built from scratch.
█ HOW IT WORKS
• Zero Lag MA (ZLMA): Reduces EMA lag by adding the difference between close and EMA to the source, then applying a second EMA. Result is a smoother, faster-responding MA.
• Base EMA: Standard EMA used as the trend reference.
• Trend Zone: When ZLMA crosses EMA, an ATR-based zone (two horizontal lines) is fixed at the cross level. Upper/lower boundaries update only on new crosses.
• Retest Signal: Once price enters the zone, ZLT watches for a bounce. The triangle fires on the first bar where price closes back outside the zone — confirming rejection.
█ SIGNALS
◆ Diamond — ZLMA crosses EMA (trend shift)
▲ Triangle Up — Bullish retest confirmed: price touched zone, bounced above it
▼ Triangle Down — Bearish retest confirmed: price touched zone, dropped below it
█ SETTINGS
Zero Lag MA
• ZLMA Length (default 15) — period for both EMAs in the ZLMA calculation
Trend Zone
• Zone ATR Period (default 200) — ATR period used to set zone width at each cross
Colors
• + / − — customize bullish and bearish colors
█ ALERTS
• Triangle Signal ▲▼ — BUY and SELL combined (saves alert slots)
• Diamond Signal ◆ — ZLMA cross only
• BUY Signal ▲ — bullish retest bounce only
• SELL Signal ▼ — bearish retest bounce only
Set alerts to "Once Per Bar Close" for best accuracy.
█ NOTES
• Works best combined with a trend filter such as a 200 EMA — for example, only taking BUY triangles when price is above the 200 EMA.
• Higher timeframes tend to produce cleaner signals with less noise.
• Past performance does not guarantee future results.
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