At first I thought of doing double zig zag. Once developed I thought it is not much effort to make it multi level zigzag. This script is not same as multi-zigzag indicator (link in the end). In multi zigzag indicator we use zigzag based on different length and each zigzag has no relation to each other. In this script however, each zigzags are related to each...
A spinoff from a previous script I published, this configurable indicator also selects highs and lows and then plots a trend line that bounces between them. In addition, it also iterates this up to two more times in a quasi-fractal manner, on larger time scales, and plots them on the same graph.
Of course this will not spit out Elliott waves, but with adjusting,...