*Zig Zag Price, % Change w/RSI*

14 giu 2023

With immense help from ©SimpleCryptoLife who reimagined this script for me, and to ©mmoiwgg and ©ocaptain who's ideas led to this updated version 5.

This indicator is fairly straight-forward and visually appealing because you get a running zig zag price, price % change with an added bonus - RSI. However you won't find zig zag lines but the script reacts the same by changing the inputs. The higher the value the less data points you'll see on the screen.

The main objective of this indicator is to be able to spot high and low prices easily with the price % change between the same 2 data sets. Additionally and arguably more importantly, with the RSI values associated with the high and low prices, you can spot divergences easily - meaning the price is making a higher high while conversely the RSI value at the next pop (around the same price as previous high) is lower which can mean that momentum has exhausted for the time being and a reversal could be imminent.

This script is meant only as a tool to try to enrich your trading journey and I hope it helps you become a more consistent and profitable trader. If you find it invaluable drop a like and comment. Good luck!

15 ago

Note di rilascio

✨ What’s New & Improved

✅ Updated to Pine Script Version 6✅

✅ Smarter Label Formatting✅

➡️Cleaner % change labels — removes leading 0 (e.g., .84% instead of 0.84%).
➡️Strips .00 for whole numbers (e.g., 1.00% → 1%).
➡️Price formatting with K/M/B suffixes using user-defined significant figures (e.g., 119300 → 119.3K).

✅ Clear RSI Labeling Structure✅

Separate RSI logic for:
➡️ZigZag pivots (major turning points).
➡️Local highs/lows (faster, minor turning points).
➡️Intuitive inputs: RSI Length, ZigZag Period, and Local Pivot Length for RSI-only labels.

✅ User-Centered Display Options✅

Toggle to show:
➡️Full labels (Price, %, RSI).
➡️RSI-only at ZigZag pivots.
➡️RSI values at local (faster) pivots.

✅ Built-In Alerts (New!)✅

➡️Alerts trigger when a new confirmed pivot forms — either bullish (low pivot) or bearish (high pivot).

Each alert includes:

➡️Price at pivot (formatted with sig figs + suffix).
➡️% change from the last opposite pivot.
➡️RSI value at the pivot, with "Overbought" or "Oversold" tags if thresholds are crossed.
➡️Works on bar close for reliable confirmation — no repainting surprises.

In TradingView, “Alert” means the platform will send you a notification (popup, sound, email, or app push) whenever your chosen condition is met. You can set these up from the “Alerts” panel after adding the script to your chart.

✅ UI & Code Improvements✅

➡️Inputs grouped with tooltips and logical nesting.
➡️Refactored and annotated code for readability and future edits.
➡️Organized for new traders or script learners to explore and modify with confidence.

⭐ Why This Version Stands Out⭐

This isn’t just a cosmetic update — it’s a thoughtfully rebuilt tool that adds real-world usability:
➡️Cleaner visual output.
➡️Flexible display options.
➡️Alerts that make it easy to react to fresh pivots without staring at the chart all day.
➡️Structured, commented code that’s easy to understand and extend.

Whether you're tracking trend exhaustion, divergence setups, or just want fast visual + audible confirmation of price structure and RSI shifts — this version makes it faster, clearer, and more actionable.