Library "mZigzag"
Matrix implementation of zigzag to allow further possibilities.
Main advantage of this library over previous zigzag methods is that you can attach any number of indicator/oscillator information to zigzag

calculate(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots) calculates zigzag and related information
  Parameters:
    length: is zigzag length
    ohlc: array of OHLC values to be used for zigzag calculation
    indicatorHigh: Array of indicator values calculated based on high price of OHLC
    indicatorLow: Array of indicators values calculated based on low price of OHLC
    numberOfPivots: Number of pivots to be returned
  Returns: pivotMatrix Matrix containing zigzag pivots , pivot bars, direction, ratio, and indicators added via indicatorHigh/indicatorLow
newZG is true if a new pivot is added to array
doubleZG is true if last calculation returned two new pivots (Happens on extreme price change)

draw(length, ohlc, indicatorLabels, indicatorHigh, indicatorLow, numberOfPivots, lineColor, lineWidth, lineStyle, showHighLow, showRatios, showIndicators) draws zigzag and related information
  Parameters:
    length: is zigzag length
    ohlc: array of OHLC values to be used for zigzag calculation
    indicatorLabels: Array of name of indicators passed
    indicatorHigh: Array of indicator values calculated based on high price of OHLC
    indicatorLow: Array of indicators values calculated based on low price of OHLC
    numberOfPivots: Number of pivots to be returned
    lineColor: zigzag line color. set to blue by default
    lineWidth: zigzag line width. set to 1 by default
    lineStyle: zigzag line style. set to line.style_solid by default
    showHighLow: show HH, HL, LH, LL labels
    showRatios: show pivot retracement ratios from previous zigzag
    showIndicators: show indicator values
  Returns: pivotMatrix Matrix containing zigzag pivots , pivot bars, direction, ratio, and indicators added via indicatorHigh/indicatorLow
zigzaglines array of zigzag lines
zigzaglabels array of zigzag labels
Release Notes: v2

Updated:
draw(length, ohlc, indicatorLabels, indicatorHigh, indicatorLow, numberOfPivots, lineColor, lineWidth, lineStyle, showLabel, showIndicators) draws zigzag and related information
  Parameters:
    length: is zigzag length
    ohlc: array of OHLC values to be used for zigzag calculation
    indicatorLabels: Array of name of indicators passed
    indicatorHigh: Array of indicator values calculated based on high price of OHLC
    indicatorLow: Array of indicators values calculated based on low price of OHLC
    numberOfPivots: Number of pivots to be returned
    lineColor: zigzag line color. set to blue by default
    lineWidth: zigzag line width. set to 1 by default
    lineStyle: zigzag line style. set to line.style_solid by default
    showLabel: Show pivot label
    showIndicators: Include indicators in labels. If set to false, indicators are shown as tooltips
  Returns: valueMatrix Matrix containing zigzag pivots for price and indicators
directionMatrix Matrix containing direction of price and indicator values at pivots
ratioMatrix Matrix containing ratios of price and indicator values at pivots
barArray Array containing pivot bars
zigzaglines array of zigzag lines
zigzaglabels array of zigzag labels
Release Notes: v3

Updated:
calculate(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots, supertrendLength) calculates zigzag and related information
  Parameters:
    length: is zigzag length
    ohlc: array of OHLC values to be used for zigzag calculation
    indicatorHigh: Array of indicator values calculated based on high price of OHLC
    indicatorLow: Array of indicators values calculated based on low price of OHLC
    numberOfPivots: Number of pivots to be returned
    supertrendLength: is number of pivot history to calculate supertrend
  Returns: valueMatrix Matrix containing zigzag pivots for price and indicators
directionMatrix Matrix containing direction of price and indicator values at pivots
ratioMatrix Matrix containing ratios of price and indicator values at pivots
divergenceMatrix matrix containing divergence details for each indicators
doubleDivergenceMatrix matrix containing double divergence details for each indicators
barArray Array containing pivot bars
supertrendDir is direction of zigzag based supertrend
supertrend is supertrend value of zigzag based supertrend
newZG is true if a new pivot is added to array
doubleZG is true if last calculation returned two new pivots (Happens on extreme price change)
Release Notes: v4

Added:
calculate2(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots, supertrendLength) calculates zigzag and related information uses shift/unshift rather than pop and push
  Parameters:
    length: is zigzag length
    ohlc: array of OHLC values to be used for zigzag calculation
    indicatorHigh: Array of indicator values calculated based on high price of OHLC
    indicatorLow: Array of indicators values calculated based on low price of OHLC
    numberOfPivots: Number of pivots to be returned
    supertrendLength: is number of pivot history to calculate supertrend
  Returns: valueMatrix Matrix containing zigzag pivots for price and indicators
directionMatrix Matrix containing direction of price and indicator values at pivots
ratioMatrix Matrix containing ratios of price and indicator values at pivots
divergenceMatrix matrix containing divergence details for each indicators
doubleDivergenceMatrix matrix containing double divergence details for each indicators
barArray Array containing pivot bars
supertrendDir is direction of zigzag based supertrend
supertrend is supertrend value of zigzag based supertrend
newZG is true if a new pivot is added to array
doubleZG is true if last calculation returned two new pivots (Happens on extreme price change)
Release Notes: v5

Added:
calculateplain(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots) calculates zigzag and related information uses shift/unshift rather than pop and push. Also does not calculate divergence and ratios.
  Parameters:
    length: is zigzag length
    ohlc: array of OHLC values to be used for zigzag calculation
    indicatorHigh: Array of indicator values calculated based on high price of OHLC
    indicatorLow: Array of indicators values calculated based on low price of OHLC
    numberOfPivots: Number of pivots to be returned
  Returns: valueMatrix Matrix containing zigzag pivots for price and indicators
directionArray Matrix containing direction of price and indicator values at pivots
barArray Array containing pivot bars
newZG is true if a new pivot is added to array
doubleZG is true if last calculation returned two new pivots (Happens on extreme price change)

Removed:
calculate2(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots, supertrendLength) calculates zigzag and related information uses shift/unshift rather than pop and push
Release Notes: v6

Updated:
calculateplain(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots) calculates zigzag and related information uses shift/unshift rather than pop and push. Also does not calculate divergence and ratios.
  Parameters:
    length: is zigzag length
    ohlc: array of OHLC values to be used for zigzag calculation
    indicatorHigh: Array of indicator values calculated based on high price of OHLC
    indicatorLow: Array of indicators values calculated based on low price of OHLC
    numberOfPivots: Number of pivots to be returned
  Returns: valueMatrix Matrix containing zigzag pivots for price and indicators
directionArray Matrix containing direction of price and indicator values at pivots
barArray Array containing pivot bars
newZG is true if a new pivot is added to array
doubleZG is true if last calculation returned two new pivots (Happens on extreme price change)
Release Notes: v7
Release Notes: v8

Fixed an edge case highlighted by @mortdiggiddy

Request trial access: https://www.trendoscope.com.au/contact-us
Reach me on telegram: https://t.me/HeWhoMustNotBeNaamed
Join tradingview: https://www.tradingview.com/gopro/?share_your_love=sudh
USDT (TRC20): TCaz4CG9aZyR4jp3Ygf7MESWJPmcJgoep5
Pine library

In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in a publication is governed by House Rules.

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.

Want to use this library?

Copy the following line and paste it in your script.