Zigzag and Divergence (8)
Our collection of Zigzag and Divergence-based algorithms provides traders with powerful tools for identifying potential trend reversals and spotting profitable trading opportunities. Our algorithms are designed to work seamlessly with the popular charting platform - Tradingview, and they are backed by extensive research and rigorous testing to ensure accuracy and reliability
Innovative Zigzag Indicators
Here are some of the innovative technical indicators built on the Zigzag indicator combined with classical technical analysis and modern concepts. Link to the indicator: Zigzag Cloud Indicator This is Bollinger Band built on top of Zigzags instead of regular price + something more. The indicator presents 7 lines and clouds around it. This can be used to visualize how low or high the price is with respect to its past movement. Link to the indicator: Zigzag Candles Can't deny that we…
Zigzag Volume Bars
Volume is an important factor in technical analysis. This innovative indicator provides cumulative volume for each zigzag swing. This can help understand how much conviction is there in each swing. You can find the relative strength by comparing it to previous swing volumes. Link to the Indicator: Zigzag Volume Bars Here is an indicator that can help you visualise volume data on Zigzag swing highs and lows. Settings are pretty simple and provide a variety of display options. Bar Style can be Stack…
Multi Zigzag and Multi Oscillator Divergence
Don't want to rely on a single oscillator or zigzag periods, this indicator provides a bird's view of combined divergence status for multiple zigzag levels and multiple oscillators. Link to the Indicator: Multi Zigzag and Multi Oscillator Divergence This table is intended to give you a snapshot of how prices and oscillators are moving along with zigzag pivots. This is done along the same lines as Zigzag-Trend-Divergence-Detector But, here are the differences The table contains the following data: The sentiment is calculated…
Divergence - Support Resistance
The question which comes up quite often is that - "What is the probability of divergence resulting in a change of trend?" This is a hard nut and it can be devastating to follow divergence signals without other confirmations. At best, divergences can act as good support and resistance levels. This indicator treats divergence as a support resistance level and plots them on the chart. Though we are the ones who coined this concept, it has become very popular and also earned…
Zigzag Trend Divergence Detector
Pullbacks are always the hardest part of the trade and when it happens, we struggle to make a decision on whether to continue the trade and wait for recovery or cut losses. Similarly, when an instrument is trending well, it is often a difficult decision to make if we want to take some profit off the table. This indicator is aimed to make these decisions easier by providing a combined opinion of sentiment based on trend and possible divergence. Link to the…
Zigzag Bands Trend Follower
Another experiment with combining favourite concepts. In this algorithm, we build a trend-following method based on Bollinger Band/Keltner Channel/Donchian Channel-based Zigzags. Further experiments with strategy have shown us that this is a very promising method to explore further. Link to the Indicator: Zigzag Bands Trend Follower We defined a new method to derive a zigzag last month - which is called Channel-Based-Zigzag. This script is an example of one of the use cases of this method. Defining a trend-following method is simple.
Next Pivot Projection Indicator
Here is a very complex and detailed indicator that provides output in a simple and easy-to-understand way. The algorithm studies historical divergence outcomes and used them to project the next pivot. The script also won the Best Editor Picks of 2022 award Link to the Indicator: Next Pivot Projection Indicator Still experimental. Extending further on the divergence backtest results - in this script, we try to project the next 2 pivots (including one unconfirmed pivot) 1. Divergence-Backtester 2. Divergence-Backtester-V2 Hover over projection labels to…
Recursive Zigzag Indicator
Zigzags are the basic building blocks of any pattern recognition algorithm. The reason why Trendoscope spends most of its time researching on enhancing Zigzag algorithms. Here is one of our latest attempts where adding any oscillator or custom indicator to zigzag pivots becomes an easy option to calculate divergence. Link to the Indicator: Recursive Zigzag Indicator Here is another outcome of the Object Oriented Zigzag and Pattern Ecosystem of Libraries. We already have another implementation of recursive zigzag which makes use of an…