OPEN-SOURCE SCRIPT
Updated [JL] Supertrend Zone Pivot Point with zigzag fib
This is an open-source Pine script that generates a Supertrend Zone Pivot Point with Zigzag Fib indicator for TradingView. The indicator displays the Supertrend Zone, pivot points, and Fibonacci levels on the chart.
One of the unique features of this indicator is that it uses a Zigzag that does not repaint, ensuring accurate high and low points for the pivot points.
Another feature is that when the Supertrend is in an uptrend, only the highest points are taken as pivot points, and when it's in a downtrend, only the lowest points are taken as pivot points.
The Fibonacci levels are calculated based on the previous high and low pivot points, with labels displaying the corresponding levels on the chart.
The indicator also includes options to show/hide the Zigzag and Fibonacci levels.
Overall, this indicator is useful for identifying key pivot points and Fibonacci levels in the Supertrend Zone, providing valuable information for traders to make informed decisions.
One of the unique features of this indicator is that it uses a Zigzag that does not repaint, ensuring accurate high and low points for the pivot points.
Another feature is that when the Supertrend is in an uptrend, only the highest points are taken as pivot points, and when it's in a downtrend, only the lowest points are taken as pivot points.
The Fibonacci levels are calculated based on the previous high and low pivot points, with labels displaying the corresponding levels on the chart.
The indicator also includes options to show/hide the Zigzag and Fibonacci levels.
Overall, this indicator is useful for identifying key pivot points and Fibonacci levels in the Supertrend Zone, providing valuable information for traders to make informed decisions.
Release Notes
Added Premium/Discount line
When the trend is rising, and the price is under the premium/discount line, it may be a good idea to consider buying as it is in the discount zone.
When the trend is falling, and the price is above the premium/discount line, it may be a good idea to consider selling as it is in the premium zone.
Release Notes
Add show _supertrend and show_premiumdiscount inputFix pivot point label position bug.
Sometimes we do not need supertrend color, so you can disable it.
Change premium/discount line to white as there is no trend notice.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
遁一子交易入道 jesselau.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
遁一子交易入道 jesselau.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.