[RS]ZigZag Percent Reversal - Forecast - patterns - labels

Zig Zag indicator plots points on the chart whenever prices reverse
by a percentage greater than a pre-chosen variable.
• Forecasts area based on zigzag statistics.
• Displays labels with detected patterns.
• Displays slope information rate of price, time diferentials and angle(experimental)
Release Notes: Added optional input method for zigzag be based on ATR percentage of price with additional optional multiplier.
Release Notes: added more options: pattern selections, optional components..
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.

Want to use this script on a chart?


GREAT JOB... 1 small Question: what is the meaning of blue arrows <----> on the right side in the projection area? I did not understand the purpose and meaning of it? thanls...
+82 Reply
Tested in 5 and 30 min.
+39 Reply
@poentje, what are the results?
+15 Reply
thank you sir do you have any reference video how to use this indicator.
+28 Reply
J4james Anil_kumar123
@Anil_kumar123, did u get,how to use this?
+6 Reply
You share the most incredible codes Ricardo, you are amazing and everyone on TV loves you!
+18 Reply
@RicardoSantos was asking which pairs and commodities does your script work well with and the time frames...and how do you adjust based on the volatility of currencies pairs
+12 Reply
Does anybody know if theres a script with only the zigzag line?
+10 Reply
@Jose5770, do you know any script without zigzag lines
Staceylux Jose5770
@Jose5770, I am looking for the same thing