This indicator detects equal highs and lows by comparing prices within user-defined left and right bars using a tolerance percentage. It plots horizontal lines on the price chart for equal highs in one color and lows in another. A screener allows input of mult
Indicator · Pine Script v5 · On the chart
ZigZag
This Pine Script indicator identifies market structure pivots and plots a ZigZag line on the price chart.
GitHub stars48on the repository
Pine versionv5runs as is
Lines of code33
Settings1inputs
LicenceMIT
Last updateyesterday27 Oct 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
33 lines of Pine Script v5 from crates/app/scripts/zigzag.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator("ZigZag", overlay=true)
len = input.int(3, "Pivot strength", minval=1)
ph = ta.pivothigh(high, len, len)
pl = ta.pivotlow(low, len, len)
var float last_y = na
var int last_x = 0
var float prev_high = na
var float prev_low = na
if not na(ph)
x = bar_index - len
if not na(last_y)
line.new(last_x, last_y, x, ph, color=color.orange, width=2)
hh = if na(prev_high)
true
else
ph > prev_high
label.new(x, ph, text=hh ? "HH" : "LH", style=label.style_label_down, color=color.new(color.orange, 20))
prev_high := ph
last_y := ph
last_x := x
if not na(pl)
x = bar_index - len
if not na(last_y)
line.new(last_x, last_y, x, pl, color=color.orange, width=2)
hl = if na(prev_low)
true
else
pl > prev_low
label.new(x, pl, text=hl ? "HL" : "LL", style=label.style_label_up, color=color.new(color.teal, 20))
prev_low := pl
last_y := pl
last_x := x
Overview
ZigZag calculates high and low pivot points using built-in pivot functions based on a configurable pivot strength input. When a pivot high or low is confirmed, the script connects it to the previous pivot with an orange line and places a text label. Labels categorize peaks and troughs as Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), or Lower Lows (LL). confirmed pivots lag by the chosen pivot strength duration.
- Pivot high and pivot low detection
- Connecting ZigZag trend lines
- Market structure labeling for HH LH HL LL
- Configurable pivot strength
Details
Published by
milocaetano on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Support & resistance, Trend
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Pivot strength | int | 3 | len |
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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