Multi-Timeframe MA Based Zigzag[liwei666]

8. Jan. 2023

🎲 Overview

🎯 This Zigzag indicator build based on different MA such as EMA/HMA/RMA/SMA, support multi-timeframe setting.
you can get customer zigzag indicator by change short/long ma length and high-timeframe config(5m/15m/30m/1h/2h) in any symbol.


🎲 Indicator design logic

🎯 entired logic is simple and code looks complex, I‘ll explain core logic here, code already equipped with detailed comments.

1. use close-in EMA's highest/lowest value mark as SWING High/Low when EMA crossover/under, not use func ta.pivothigh()/ta.pivotlow()
2. when EMA crossover/under plot a char as signal like ●/❄/▲, crossover get blue char crossunder get red char
3. latest zigzag line is not drawn until EMA is turned(crossover/under), but signal is realtime
4. you can see diff zigzag structure when you open high-timeframe config, then find regular pattern benefit your trading.


🎲 Settings

🎯 there are 3 group properties in script, just focus on 5 properties in 'GRP1',
'GRP2' and 'GRP3' are display config.

'GRP1':

• MA_Type: MA type you can choose(EMA/RMA/SMA/HMA/WMA), default is EMA
  
• short_ma_len: short MA length of your current timeframe on chart
  
• long_ma_len: long MA length of your current timeframe on chart
  
• htf_ma_len: MA length of high timeframe, MA type same as 'MA_Type' config
  
• htf_ma_tf: high timeframe ma length, 15/30/60/120 minute
  

'GRP2':
• show_short_zz • show_long_zz  • show_htf_zz:

'GRP3':
• show_short_ma_line • show_short_ma_signal
• show_long_ma_line • show_long_ma_signal
• show_htf_ma_line • show_htf_ma_signal


🎲 Usage

🎯 As we know, MA based signal usually worked fine in trend market, low volatility is unprofitable.

🎯 One of pattern as the chart show below.
1. success example: after a blue ▲ signal, entry long when blue ● signal appear, marked with green box.
2. failed example: after a blue ▲ signal, a red ▼ signal appear, marked with white box.



🎯 BoS(Break of Structure) based on ma zigzag is a good idea I'm implementing, it will be published in next script.

Additionally, I plan to publish 20 profitable strategies in 2023; this indicatior not one of them,
let‘s witness it together!

Hope this indicator will be useful for you :)

enjoy! 🚀🚀🚀

9. Jan. 2023

Versionshinweise

update config panel layout