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LonesomeTheBlue
30 gru 2021 21:00

ZigZag Waves 

Bitcoin / TetherUSBinance

Opis

Hello All,

I am here with a new idea and script, "Zigzag Waves". This indicator creates 3 Zigzags with different lengths, keeps the lengths of each zigzag wave and calculates/draws average waves for each zigzag. optionally it can reset the wave when zigzag direction changes and new highest/lowest found. And optionally it draws Exponential Moving Average(EMA) of the sum of waves. This idea is very new and at the moment there is no optimization for the Zigzag Periods. Maybe we altogether can improve the idea and find the best zigzag periods for different symbols and time frames.

Using the options You can play with the periods, add/remove EMA, set its color and reset the waves on new Highest/Lowest. As far as I see resetting the waves on new Highest/Lowest may bring better results.

if we enable "Reset the waves on new Highest/Lowest":


Using different periods and EMA length:



P.S. if you have ideas to improve this script, drop a comment under the script please.


Enjoy!
Komentarze
TheStockOdin
great idea!
LonesomeTheBlue
@ninjanew, Thanks Mate!
Bjorgum
Thank you for your continued contributions to the community and gracious selflessness in willing to share
LonesomeTheBlue
@Bjorgum, Than you Bro!
RicardoSantos
thank you for improving pinescript for every one :)
LonesomeTheBlue
@RicardoSantos, Thank you dude :)
Murphy67
Hi LonesomeTheBlue, it looks great. if you can find HH or LL of the specific period after the each waves completed, it will be very useful...
ashishniranjan29
indicator look cool but how to use it sir pklese reply
LonesomeTheBlue
@ashishniranjan29, you can use EMA line while analyzing.
LonesomeTheBlue
@ashishniranjan29, you also should focus when the EMA (blue) line is above or below the waves
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