Dinap tar[1]. zig zag_v1
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This tool is designed to identify and visualize significant structural turning points in a financial market’s price action. By filtering out minor "market noise" and focusing on major movements, it helps traders see the underlying skeleton of the price trend.
Core Logic and Behavior
Identifying Market Extremes The script works by scanning historical price data to find specific "swing" points—essentially the peaks and valleys of the market. To ensure it doesn't react to every tiny fluctuation, it uses a defined look-back window. It compares the current price against the highest highs and lowest lows of recent candles to determine if a movement is significant enough to be considered a structural change.
Trend Directional Tracking The logic continuously monitors whether the price is currently establishing a new high or a new low:
- Upward Momentum: When the script detects that prices are consistently pushing higher than previous peaks, it flags an upward move.
- Downward Momentum: Conversely, when prices drop below previous troughs, it identifies a downward move.
- Pivot Point Detection: The most critical part of the logic occurs when the momentum shifts. When the price stops moving in one direction and begins to reverse (e.g., changing from an uptrend to a downtrend), the script captures that exact transition point as a "pivot."
Visualizing the Structure Once these significant turning points are identified, the script connects them visually on your chart. Instead of showing every single price tick, it draws a line (a section) between the primary peaks and valleys. This creates a clear "zigzag" path that represents the primary flow of the market.
Key Features for the User
- Trend Clarity: It simplifies complex charts by highlighting the main path the price is taking.
- Structural Awareness: By visualizing where old highs become new lows (or vice versa), it helps in identifying potential areas of support and resistance.
- Customizable Sensitivity: The logic allows for adjustments—specifically regarding how many candles it looks back to confirm a move—enabling you to choose between seeing very large, broad market trends or more frequent, smaller structural shifts.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| Dinapoli ZZ (ZigZag).mq4 |
//| rewritten by CrazyChart |
//| |
//+------------------------------------------------------------------+
#property copyright "rewritten by CrazyChart"
#property link ""
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Blue
//---- input parameters
extern int barn=300;
extern int Length=6;
//---- buffers
double ExtMapBuffer1[];
//double ExtMapBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexEmptyValue(0,0.0);
//SetIndexDrawBegin(0, barn);
SetIndexStyle(0,DRAW_SECTION);
SetIndexBuffer(0,ExtMapBuffer1);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
int shift,Swing,Swing_n,uzl,i,zu,zd,mv;
double LL,HH,BH,BL,NH,NL;
double Uzel[10000][3];
string text;
// loop from first bar to current bar (with shift=0)
Swing_n=0;Swing=0;uzl=0;
BH =High[barn];BL=Low[barn];zu=barn;zd=barn;
for (shift=barn;shift>=0;shift--) {
LL=10000000;HH=-100000000;
for (i=shift+Length;i>=shift+1;i--) {
if (Low[i]< LL) {LL=Low[i];}
if (High[i]>HH) {HH=High[i];}
}
if (Low[shift]<LL && High[shift]>HH){
Swing=2;
if (Swing_n==1) {zu=shift+1;}
if (Swing_n==-1) {zd=shift+1;}
} else {
if (Low[shift]<LL) {Swing=-1;}
if (High[shift]>HH) {Swing=1;}
}
if (Swing!=Swing_n && Swing_n!=0) {
if (Swing==2) {
Swing=-Swing_n;BH = High[shift];BL = Low[shift];
}
uzl=uzl+1;
if (Swing==1) {
Uzel[uzl][1]=zd;
Uzel[uzl][2]=BL;
}
if (Swing==-1) {
Uzel[uzl][1]=zu;
Uzel[uzl][2]=BH;
}
BH = High[shift];
BL = Low[shift];
}
if (Swing==1) {
if (High[shift]>=BH) {BH=High[shift];zu=shift;}}
if (Swing==-1) {
if (Low[shift]<=BL) {BL=Low[shift]; zd=shift;}}
Swing_n=Swing;
}
for (i=1;i<=uzl;i++) {
//text=DoubleToStr(Uzel[i][1],0);
//text=;
mv=StrToInteger(DoubleToStr(Uzel[i][1],0));
ExtMapBuffer1[mv]=Uzel[i][2];
}
return(0);
}
//+------------------------------------------------------------------+
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