[RS]Simple ZigZag V3 — Indicator by RicardoSantos

experimental zigzag harmonicpatterns zigzagindicator

EXPERIMENTAL:
optional:
custom timeframe
custom fib ab_extension/bc_retrace zone

Display base zigzag
Display zigzag
Display Tops and Bottoms Lines
Display Fib. Ret./Ext.
Display Pattern Recognition

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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study("[RS]Simple ZigZag V3", overlay=true)
TF = input('240')
ab_extension = input(0.618)
bc_retrace = input(0.382)
showBaseZigZag = input(true)
showZigZag = input(true)
showChannel = input(true)
showZones = input(true)
showPatterns = input(true)

f_zigzag(_TF)=>
    _hh = security(tickerid, _TF, high)
    _ll = security(tickerid, _TF, low)
    _output = high >= _hh ? high : low <= _ll ? low : na
f_tops(_TF)=>
    _hh = security(tickerid, _TF, high)
    _ll = security(tickerid, _TF, low)
    _output = high >= _hh ? high : na
f_bots(_TF)=>
    _hh = security(tickerid, _TF, high)
    _ll = security(tickerid, _TF, low)
    _output = low <= _ll ? low : na

//tops = f_tops(TF)
//bots = f_bots(TF)
zigzag = f_zigzag(TF)

//plot(tops, color=gray, linewidth=2)
//plot(bots, color=gray, linewidth=2)
plot(not showBaseZigZag ? na : zigzag, color=black, linewidth=3)

f_fix_zigzag(_zigzag)=>
    _hh = _zigzag ? close : high >= nz(_hh[1]) ? highest(2) : nz(_hh[1])
    _ll = _zigzag ? close : low <= nz(_ll[1]) ? lowest(2) : nz(_ll[1])
    _isBhigh = valuewhen(_zigzag, _zigzag >= high, 1)
    _isChigh = valuewhen(_zigzag, _zigzag >= high, 0)
    _isBlow = valuewhen(_zigzag, _zigzag <= low, 1)
    _isClow = valuewhen(_zigzag, _zigzag <= low, 0)
    _output = _zigzag and _isBhigh and _isChigh ? _ll[1] :_zigzag[1] and _isBhigh[1] and _isChigh[1] ? _hh :
        _zigzag and _isBlow and _isClow ? _hh[1] : _zigzag[1] and _isBlow[1] and _isClow[1] ? _ll : _zigzag
fix_zz = f_fix_zigzag(zigzag)
plot(not showZigZag ? na : fix_zz, color=aqua, linewidth=2)

last_zz_a = valuewhen(fix_zz, fix_zz, 2)
last_zz_b = valuewhen(fix_zz, fix_zz, 1)
last_zz_c = valuewhen(fix_zz, fix_zz, 0)

upper = fix_zz and last_zz_c > last_zz_b ? last_zz_c : na
lower = fix_zz and last_zz_c < last_zz_b ? last_zz_c : na

plot(not showChannel ? na : upper, color=gray, linewidth=2)
plot(not showChannel ? na : lower, color=gray, linewidth=2)

ab_dif = abs(last_zz_a-last_zz_b)
bc_dif = abs(last_zz_b-last_zz_c)

fib1 = last_zz_c >= high ? last_zz_c - ab_dif*ab_extension : last_zz_c <= low ? last_zz_c + ab_dif*ab_extension : nz(fib1[1])
fib2 = last_zz_c >= high ? last_zz_c - bc_dif*bc_retrace : last_zz_c <= low ? last_zz_c + bc_dif*bc_retrace : nz(fib2[1])

f1 = plot(not showZones ? na : fib1, color=gray, style=cross, linewidth=1)
f2 = plot(not showZones ? na : fib2, color=silver, style=cross, linewidth=1)
fill(f1, f2, color=silver, transp=75)

//  ||---   Pattern Recognition:

x = valuewhen(fix_zz, fix_zz, 4) 
a = valuewhen(fix_zz, fix_zz, 3) 
b = valuewhen(fix_zz, fix_zz, 2) 
c = valuewhen(fix_zz, fix_zz, 1) 
d = valuewhen(fix_zz, fix_zz, 0)

xab = (abs(b-a)/abs(x-a))
xad = (abs(a-d)/abs(x-a))
abc = (abs(b-c)/abs(a-b))
bcd = (abs(c-d)/abs(b-c))

//  ||-->   Functions:
isBat(_mode)=>
    _xab = xab >= 0.382 and xab <= 0.5
    _abc = abc >= 0.382 and abc <= 0.886
    _bcd = bcd >= 1.618 and bcd <= 2.618
    _xad = xad <= 0.886
    _xab and _abc and _bcd and _xad and (_mode == 1 ? d < c : d > c)

isAltBat(_mode)=>
    _xab = xab <= 0.382
    _abc = abc >= 0.382 and abc <= 0.886
    _bcd = bcd >= 2.0 and bcd <= 3.618
    _xad = xad <= 1.13
    _xab and _abc and _bcd and _xad and (_mode == 1 ? d < c : d > c)

isButterfly(_mode)=>
    _xab = xab <= 0.786
    _abc = abc >= 0.382 and abc <= 0.886
    _bcd = bcd >= 1.618 and bcd <= 2.618
    _xad = xad >= 1.27 and xad <= 1.618
    _xab and _abc and _bcd and _xad and (_mode == 1 ? d < c : d > c)

isABCD(_mode)=>
    _abc = abc >= 0.382 and abc <= 0.886
    _bcd = bcd >= 1.13 and bcd <= 2.618
    _abc and _bcd and (_mode == 1 ? d < c : d > c)

isGartley(_mode)=>
    _xab = xab >= 0.5 and xab <= 0.618 // 0.618
    _abc = abc >= 0.382 and abc <= 0.886
    _bcd = bcd >= 1.13 and bcd <= 2.618
    _xad = xad >= 0.75 and xad <= 0.875 // 0.786
    _xab and _abc and _bcd and _xad and (_mode == 1 ? d < c : d > c)

isCrab(_mode)=>
    _xab = xab >= 0.75 and xab <= 0.875 // 0.886
    _abc = abc >= 0.382 and abc <= 0.886
    _bcd = bcd >= 2.0 and bcd <= 3.618
    _xad = xad >= 1.5 and xad <= 1.625 // 1.618
    _xab and _abc and _bcd and _xad and (_mode == 1 ? d < c : d > c)

isShark(_mode)=>
    _xab = xab >= 0.5 and xab <= 0.875 // 0.886
    _abc = abc >= 1.13 and abc <= 1.618
    _bcd = bcd >= 1.27 and bcd <= 2.24
    _xad = xad >= 0.88 and xad <= 1.13
    _xab and _abc and _bcd and _xad and (_mode == 1 ? d < c : d > c)

is5o(_mode)=>
    _xab = xab >= 1.13 and xab <= 1.618
    _abc = abc >= 1.618 and abc <= 2.24
    _bcd = bcd >= 0.5 and bcd <= 0.625 // 0.5
    _xad = xad >= 0.0 and xad <= 0.236 // negative?
    _xab and _abc and _bcd and _xad and (_mode == 1 ? d < c : d > c)

isWolf(_mode)=>
    _xab = xab >= 1.27 and xab <= 1.618
    _abc = abc >= 0 and abc <= 5
    _bcd = bcd >= 1.27 and bcd <= 1.618
    _xad = xad >= 0.0 and xad <= 5
    _xab and _abc and _bcd and _xad and (_mode == 1 ? d < c : d > c)

plotshape(not showPatterns ? na : isABCD(-1) and not isABCD(-1)[1], text="\nAB=CD", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0, offset=-2)
plotshape(not showPatterns ? na : isBat(-1) and not isBat(-1)[1], text="Bat", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0, offset=-2)
plotshape(not showPatterns ? na : isAltBat(-1) and not isAltBat(-1)[1], text="Alt Bat", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0)
plotshape(not showPatterns ? na : isButterfly(-1) and not isButterfly(-1)[1], text="Butterfly", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0)
plotshape(not showPatterns ? na : isGartley(-1) and not isGartley(-1)[1], text="Gartley", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0)
plotshape(not showPatterns ? na : isCrab(-1) and not isCrab(-1)[1], text="Crab", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0)
plotshape(not showPatterns ? na : isShark(-1) and not isShark(-1)[1], text="Shark", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0)
plotshape(not showPatterns ? na : is5o(-1) and not is5o(-1)[1], text="5-O", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0)
plotshape(not showPatterns ? na : isWolf(-1) and not isWolf(-1)[1], text="Wolf Wave", style=shape.labeldown, color=maroon, textcolor=white, location=location.top, transp=0)

plotshape(not showPatterns ? na : isABCD(1) and not isABCD(1)[1], text="AB=CD\n", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)
plotshape(not showPatterns ? na : isBat(1) and not isBat(1)[1], text="Bat", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)
plotshape(not showPatterns ? na : isAltBat(1) and not isAltBat(1)[1], text="Alt Bat", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)
plotshape(not showPatterns ? na : isButterfly(1) and not isButterfly(1)[1], text="Butterfly", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)
plotshape(not showPatterns ? na : isGartley(1) and not isGartley(1)[1], text="Gartley", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)
plotshape(not showPatterns ? na : isCrab(1) and not isCrab(1)[1], text="Crab", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)
plotshape(not showPatterns ? na : isShark(1) and not isShark(1)[1], text="Shark", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)
plotshape(not showPatterns ? na : is5o(1) and not is5o(1)[1], text="5-O", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)
plotshape(not showPatterns ? na : isWolf(1) and not isWolf(1)[1], text="Wolf Wave", style=shape.labelup, color=green, textcolor=white, location=location.bottom, transp=0)