Zigzag Chart Points

RozaniGhani-RG Updated   
This indicator displays zigzag based on high and low using latest pine script version 5, chart.point which using time, index and price as parameters.
Pretty much a strip down using latest pine script function, without any use of library.
This allow pine script user to have an idea of simplified and cleaner code for zigzag.


1. Label can be show / hide including text can be resized.
2. Hover to label, can see tooltip will show price and time.
3. Tooltip will show date and time for hourly timeframe and below while show date only for day timeframe and above.

1. I admit that chart.point just made the code much more cleaner and save more time. I previously using user-defined type(UDT) which quite hassle.
2. I have no plan to extend this indicator or include alert just I thinking to explore log.error() and runtime.error(), which I may probably release in other publications.

Pretty much similar inside mentioned references, which previously I created.

1. Zigzag Array Experimental
2. Simple Zigzag UDT
3. Zig Zag Ratio Simplified
4. Cyclic RSI High Low With Noise Filter
5. Auto AB=CD 1 to 1 Ratio Experimental
Release Notes:
  • Add not na() into ph and pl ternary functions
  • Add na() into ph or pl if statement
  • Update from dirchanged = ta.change(dir) to dirchanged = dir != dir

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.


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