ZigZag Lines

[rwfarrell]

Hello, I extracted this script from the reversal indicator. I am looking to add the Aggregation Period to this script to see the lines from a higher timeframe on a lower timeframe. Very much like the MA HTF script. Can anyone add to this to make that possible? Thank you!


####### ZigZag Lines

input Period = AggregationPeriod.DAY;
input method = {default average, high_low};
def bubbleoffset = .0005;
def percentamount = .01;
def revAmount = .05;
def atrreversal = 2.0;
def atrlength = 5;
def pricehigh = high;
def pricelow = low;
def averagelength = 5;
def averagetype = AverageType.EXPONENTIAL;
def mah = MovingAverage(averagetype, pricehigh, averagelength);
def mal = MovingAverage(averagetype, pricelow, averagelength);
def priceh = if method == method.high_low then pricehigh else mah;
def pricel = if method == method.high_low then pricelow else mal;
def EI = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = percentamount, "absolute reversal" = revAmount, "atr length" = atrlength, "atr reversal" = atrreversal);
def reversalAmount = if (close * percentamount / 100) > Max(revAmount < atrreversal * reference ATR(atrlength), revAmount) then (close * percentamount / 100) else if revAmount < atrreversal * reference ATR(atrlength) then atrreversal * reference ATR(atrlength) else revAmount;
rec EISave = if !IsNaN(EI) then EI else GetValue(EISave, 1);
def chg = (if EISave == priceh then priceh else pricel) - GetValue(EISave, 1);
def isUp = chg >= 0;
rec isConf = AbsValue(chg) >= reversalAmount or (IsNaN(GetValue(EI, 1)) and GetValue(isConf, 1));
def EId = if isUp then 1 else 0;
plot EnhancedLines = if EId <= 1 then EI else Double.NaN;
EnhancedLines.AssignValueColor(if EId == 1 then Color.green else if EId == 0 then Color.RED else Color.DARK_ORANGE);
EnhancedLines.SetStyle(Curve.FIRM);
EnhancedLines.EnableApproximation();
EnhancedLines.HideBubble();

 

[SleepyZ]

Hello, I extracted this script from the reversal indicator. I am looking to add the Aggregation Period to this script to see the lines from a higher timeframe on a lower timeframe. Very much like the MA HTF script. Can anyone add to this to make that possible? Thank you!


####### ZigZag Lines

input Period = AggregationPeriod.DAY;
input method = {default average, high_low};
def bubbleoffset = .0005;
def percentamount = .01;
def revAmount = .05;
def atrreversal = 2.0;
def atrlength = 5;
def pricehigh = high;
def pricelow = low;
def averagelength = 5;
def averagetype = AverageType.EXPONENTIAL;
def mah = MovingAverage(averagetype, pricehigh, averagelength);
def mal = MovingAverage(averagetype, pricelow, averagelength);
def priceh = if method == method.high_low then pricehigh else mah;
def pricel = if method == method.high_low then pricelow else mal;
def EI = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = percentamount, "absolute reversal" = revAmount, "atr length" = atrlength, "atr reversal" = atrreversal);
def reversalAmount = if (close * percentamount / 100) > Max(revAmount < atrreversal * reference ATR(atrlength), revAmount) then (close * percentamount / 100) else if revAmount < atrreversal * reference ATR(atrlength) then atrreversal * reference ATR(atrlength) else revAmount;
rec EISave = if !IsNaN(EI) then EI else GetValue(EISave, 1);
def chg = (if EISave == priceh then priceh else pricel) - GetValue(EISave, 1);
def isUp = chg >= 0;
rec isConf = AbsValue(chg) >= reversalAmount or (IsNaN(GetValue(EI, 1)) and GetValue(isConf, 1));
def EId = if isUp then 1 else 0;
plot EnhancedLines = if EId <= 1 then EI else Double.NaN;
EnhancedLines.AssignValueColor(if EId == 1 then Color.green else if EId == 0 then Color.RED else Color.DARK_ORANGE);
EnhancedLines.SetStyle(Curve.FIRM);
EnhancedLines.EnableApproximation();
EnhancedLines.HideBubble();

Try changing these lines in bold. You can make most indicators multi-timeframe with these types of changes to the price fundamentals in the base code.

As to displaying the multiple timeframe zigzag on a lower timeframe chart, try to use a higher timeframe close to a multiple of chart timeframe. If you choose too high of a higher timeframe, it will often distort the plot of the higher timeframe zigzag.

In the image below, the dotted line is the 5m chart zigzag and the solid line is a 15m multiple timeframe zigzag, a close multiple of the 5m chart timeframe. The zigzags in the image may provide better information this way. If you switched the higher timeframe to 30m, you will see the higher timeframe zigzag will be distorted.

Always remember that both of these zigzags can repaint the zigzag lines,

####### ZigZag Lines



input Period = AggregationPeriod.FIFTEEN_MIN;

input method = {default average, high_low};

def bubbleoffset = .0005;

def percentamount = .01;

def revAmount = .05;

def atrreversal = 2.0;

def atrlength = 5;

def pricehigh = high(period = Period);

def pricelow = low(period = Period);

def averagelength = 5;

def averagetype = AverageType.EXPONENTIAL;

def mah = MovingAverage(averagetype, pricehigh, averagelength);

def mal = MovingAverage(averagetype, pricelow, averagelength);

def priceh = if method == method.high_low then pricehigh else mah;

def pricel = if method == method.high_low then pricelow else mal;

def EI = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = percentamount, "absolute reversal" = revAmount, "atr length" = atrlength, "atr reversal" = atrreversal);

def reversalAmount = if (close(period=period) * percentamount / 100) > Max(revAmount < atrreversal * reference ATR(atrlength), revAmount) then (close(period=period) * percentamount / 100) else if revAmount < atrreversal * reference ATR(atrlength) then atrreversal * reference ATR(atrlength) else revAmount;

rec EISave = if !IsNaN(EI) then EI else GetValue(EISave, 1);

def chg = (if EISave == priceh then priceh else pricel) - GetValue(EISave, 1);

def isUp = chg >= 0;

rec isConf = AbsValue(chg) >= reversalAmount or (IsNaN(GetValue(EI, 1)) and GetValue(isConf, 1));

def EId = if isUp then 1 else 0;

plot EnhancedLines = if EId <= 1 then EI else Double.NaN;

EnhancedLines.AssignValueColor(if EId == 1 then Color.GREEN else if EId == 0 then Color.RED else Color.DARK_ORANGE);

EnhancedLines.SetStyle(Curve.FIRM);

EnhancedLines.EnableApproximation();

EnhancedLines.HideBubble();