HTF Where the scripts plots the present TF 'ZigZag' together with the next 3 Higher TF ZigZag's (TF can be 15', 30', 1h, 2h, 3h, 4h, 6h, 8h, 12h, D, W, M) s3.tradingview.com/snapshots/d/dm8z3wep.png
Multiple Where the set 'leftbars' are multiplied as wanted (9 possible ZigZag's) ('rightbars' is always 1 on the present TF, this will be multiplied as well) In the case where 'leftbars' are set as '3': - The Base ZigZag ('1') will result in 3 leftbars and 1 rightbar - A ZigZag set as '2' will result in 6 leftbars and 2 rightbars - A ZigZag set as '5 will result in 15 leftbars and 5 rightbars
Be aware, although the ZigZag is mostly correct, a bar which is at the same time a pivothigh and a pivotlow can give unwanted results. Regretfully for now I haven't be able to improve this.
I'm sorry, but I don't see it repaint for now It could be I'm missing something, if that is the case, please send me examples
Now, the idea is all about pivothigh's and pivotlow's
Let's take an example of a pivothigh at a 1h TF.
A highest point needs to have at least 1 lower bar at the right ('future') before it can be a highest point (= pivothigh). For example there can be only a 12h pivothigh if the 13h bar high is lower (when the 13h bar is closed).
When we do this on a 15' TF, where there are 4 bar's (and not 1) in 1h, the right side should have at least 4 lower high bar's.
In that case after 5 bars there could be a new 1h ZigZag appearing on a 15' chart
I've included labels where a ZigZag normally should be further than the according TF label
@Arun_K_Bhaskar, Didn't know zigzag was a trademark with specific instructions, please share the official documents
Arun_K_Bhaskar
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@fikira, Actually in zig zag there will be one up followed by a down. In pivot high low it is not necessary, pivot can have 2 highs in a row without a low in between. For pattern identification zig zag will be useful than pivot high low.
I am a beginning Pine script coder. Thanks for contributing this script to the TV community. I have 2 questions: (1) how is it possible to obtain the time series of the turning points? (2) Can the lines be extended to the last candle? Thanks