[RS]ZigZag Percent Reversal - Fo…: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.

Overview

[RS]ZigZag Percent Reversal - Forecast - patterns - labels identifies reversal points when price moves more than a set percentage from the last pivot. The script calculates forecasts using zigzag data and labels detected geometric patterns including harmonic triangles, AB=CD, Bat, Butterfly, Gartley, Crab, Shark, Wolfe, and others. It also shows pivot prices, triangle rates, and experimental angle information. Users can select the reversal calculation method using manual or ATR-based percentages, adjust the reversal threshold, and enable or disable various display options. The indicator draws its zigzag lines and labels directly on the price chart.

ZigZag reversal points
Price forecasts
Geometric pattern labels
Pivot price display
ATR-based reversal

Details

Published by

ricardosantos79 on GitHub

Type

Indicator, Pine Script v4

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

zigzag/ZigZag Percent Reversal - Forecast - patterns - labels.pinescript

Repository

github.com/ricardosantos79/pinescript. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Method to use for the zigzag reversal range:	`string`	`MANUAL`	`percent_method`
Percent of last pivot price for zigzag reversal:	`float`	`0.25`	`percent`
Multiplier to apply to ATR if applicable:	`float`	`1.0`	`percent_multiplier`
Show real zigzag pivots:	`bool`	`true`	`show_real_pivots`
Show zigzag lines:	`bool`	`true`	`show_zigzag_lines`
Show price labels on zigzag:	`bool`	`true`	`show_pivot_price`
Show rate labels on triangles:	`bool`	`true`	`show_triangle_rates`
Show Angle Degree information(EXPERIMENTAL):	`bool`	`false`	`show_angles`
Show Patterns:	`bool`	`true`	`show_patterns`
Show Harmonic Triangle Pattern:	`bool`	`true`	`show_harmonic`
Show 2/3/4 Tap Patterns:	`bool`	`true`	`show_tap`
Show AB=CD Pattern:	`bool`	`true`	`show_abcd`

Show all 26 settings

Setting	Type	Default	Variable
Show Bat Pattern:	`bool`	`true`	`show_bat`
Show Butterfly Pattern:	`bool`	`true`	`show_butterfly`
Show Gartley Pattern:	`bool`	`true`	`show_gartley`
Show Crab Pattern:	`bool`	`true`	`show_crab`
Show Shark Pattern:	`bool`	`true`	`show_shark`
Show 5o Pattern:	`bool`	`true`	`show_5o`
Show wolfe Pattern:	`bool`	`true`	`show_wolfe`
Show Contracting Triangle Pattern:	`bool`	`true`	`show_contria`
Show Expanding Triangle Pattern:	`bool`	`true`	`show_exptria`
Show Head and Shoulders Pattern:	`bool`	`true`	`show_hns`
Show projections forecast of zigzag:	`bool`	`true`	`show_projections`
Show projections forecast Bounds:	`bool`	`true`	`show_projections_square`
Show projections target rates:	`bool`	`false`	`show_projections_square_rates`
err	`float`	`5.0`	`err`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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