Multi Timeframe ZigZag Indicator
- Indicators
- Salman A A A T Bakhash
- Version: 10.0
- Updated: 30 March 2022
Description:
This indicator draw ZigZag Line in multiple time frame also search for Harmonic patterns before completion of the pattern.
Features:
- Five instances of ZigZag indicators can be configured to any desired timeframe and inputs.
- Draw Harmonic pattern before pattern completion.
- Display Fibonacci retracement ratios.
- Configurable Fibonacci retracement ratios.
- Draw AB=CD based on Fibonacci retracement you define.
- You can define margin of error allowed in Harmonic or Fibonacci calculations.
- Define your scan depth level (more level = scan for patterns in larger scale).
Harmonic pattern supported:
- AB=CD
- Bat
- Alternate Bat
- Gartley
- Deep Gartley
- Crab
- Deep Crab
- Butterfly
Inputs:
- ZigZag TimeFrame: define TimeFrame you want to use.
- ZigZag Depth: The minimum number of price bars required where there is no secondary high or low.
- ZigZag Deviation: The number of pips that pips can deviate above the previously plotted high or low for the Zig-zag indicator to re-change its highs and lows.
- ZigZag Backstep: The minimum amount of bars between which the highs and lows can be plotted.
- Margin of error (Tolerance) in Harmonic or Fibonacci calculations: chose accuracy level for B point retracement and C point retracement. by default 3% tolerance is used.
- Margin of error (Tolerance) in PRZ calculations: tolerance for the 3 values of D point (XA retracement, AB=DC and BC retracement).
- Define Fibonacci retracement levels: define ratio numbers to be used for other options.
- ZigZag Bar history: number of bars used to calculate ZigZag.
- ZigZag Points: number of Highs & Lows used for scan engine.
- Harmonic validation period: Validation period from C point.
- Use Standard Ratios only: scan for only retracement numbers defined in official recourses for B & C points.
- Min. Harmonic scaner depth level: keep it 0 or try bigger number if you want to skip small patterns.
- Max. Harmonic scaner depth level: should be equal or bigger than Min. level. the bigger the number the bigger pattern scan engine try to find and the more PC recourse will be consumed.
- Show ZigZag on the chart: True to show zigzag lines.
- Show Fibonacci retracement ratio on the chart: True to show retracement/expansion of each zigzag line.
- Show Fibonacci Defined levels on the chart: True to show ratios defined at the end of the chart.
- ZigZag Color: choose your prefer color for ZigZag and Fibonacci levels.
- Show Harmonic Patterns on the chart: True to show Harmonic patters.
- Show AB=CD on the chart Based on Defined Fibonacci levels: True to show AB=CD Harmonic patters.
- Show Harmonic Zones only: True if you want to show only the PRZ aria.
- Harmonic Patterns Buy Color: Choose your prefer bullish color.
- Harmonic Patterns Sell Color: Choose your prefer bearish color.
Good