ZigZag+ v5

Category: market_structure, trend

A ZigZag implementation that identifies market structure shifts (HH, HL, LH, LL) based on Depth, Deviation, and Backstep parameters. It visualizes price swings and trends.

Formula

SwingHigh = high[ta.highestbars(Depth)]; SwingLow = low[ta.lowestbars(Depth)]; Validation = (PriceChange > Deviation * TickSize) AND (BarsSinceLastChange >= Backstep)

Inputs

• Depth (default: 12)
• Deviation (default: 5)
• Backstep (default: 2)
• Repaint Levels (default: true)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.