OPEN-SOURCE SCRIPT
Aggiornato Recursive Zigzag [Trendoscope]

Here is an another outcome of Object Oriented Zigzag and Pattern Ecosystem of Libraries.
We already have another implementation of recursive zigzag which makes use of earlier library rzigzag. Here in this example, we make use of similar logic but leverage the new type and method based Zigzag system libraries to derive the indicator.
🎲 Design Overview
Similar to Recursive Auto Pitchfork, here too the indicator code is around 50 lines. Whereas most of the heavy lifting is done by the libraries.
https://www.tradingview.com/x/w1iXZ7TB/
🎲 Base Libraries
Base libraries are those which does not have any dependency. They form basic structures which are later used in other libraries. These libraries need to be crafted carefully so that minimal updates are done later on. Any updates on these libraries will impact all the dependent libraries and scripts.
🎯 Drawing
🎲 Layer 1 Libraries
These are the libraries which has direct dependency on base libraries.
🎯 Zigzag
🎲Indicator
Indicator draws zigzags based on given length. And then recursively derives next level zigzags based on previous levels. As per the utility, indicator is useful in several ways
🎯 Settings
Settings are explained via tooltips. These are very much straight forward and directly related to zigzag, oscillators and divergence.
https://www.tradingview.com/x/HXBoDBAK/
We already have another implementation of recursive zigzag which makes use of earlier library rzigzag. Here in this example, we make use of similar logic but leverage the new type and method based Zigzag system libraries to derive the indicator.
🎲 Design Overview
Similar to Recursive Auto Pitchfork, here too the indicator code is around 50 lines. Whereas most of the heavy lifting is done by the libraries.
https://www.tradingview.com/x/w1iXZ7TB/
🎲 Base Libraries
Base libraries are those which does not have any dependency. They form basic structures which are later used in other libraries. These libraries need to be crafted carefully so that minimal updates are done later on. Any updates on these libraries will impact all the dependent libraries and scripts.
🎯 Drawing
- DrawingTypes - Defines basic drawing types Point, Line, Label, Box, Linefill and related property types.
- DrawingMethods - All the methods or functionality surrounding Basic types are defined here.
🎲 Layer 1 Libraries
These are the libraries which has direct dependency on base libraries.
🎯 Zigzag
- ZigzagTypes - Types required for defining Zigzag and Divergence
- ZigzagMethods - Methods associated with Zigzag Type definitions.
🎲Indicator
Indicator draws zigzags based on given length. And then recursively derives next level zigzags based on previous levels. As per the utility, indicator is useful in several ways
- Visualising price structure based on zigzag pivots - which in turn can help visualise patterns.
- Ability to add any oscillator makes it easy to spot divergences with choice of indicators.
- Programmers can use the derived values to build complex algorithms such as automatic pattern recognition.
🎯 Settings
Settings are explained via tooltips. These are very much straight forward and directly related to zigzag, oscillators and divergence.
https://www.tradingview.com/x/HXBoDBAK/
Note di rilascio
Minor method related updatesNote di rilascio
Updated libraries and colour scheme. Inactive zigzags will be drawn with more transparent colour.Note di rilascio
Updated library versionsNote di rilascio
Updated librariesNote di rilascio
Minor library updateScript open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.