HTF Candle Extremes Zigzag (Drawn on LTF)

11. Juli

HTF Candle Extremes Zigzag (Drawn on LTF)

This indicator plots zigzag lines connecting the extremes (highs and lows) of Higher Timeframe (HTF) candles directly on your lower timeframe (LTF) chart. It visually highlights trend changes and HTF candle structure by drawing colored lines representing uptrends and downtrends based on HTF candle extremes.

"Key Features"

• Higher Timeframe Tracking: Select any HTF to track candle extremes using the built-in security function.
  
• Zigzag Lines: Connects HTF candle lows to highs in an intuitive zigzag pattern.
  
• Trend Indication: Uptrend lines are green, downtrend lines are red (customizable colors).
  
• Customizable Line Width: Adjust the thickness of the zigzag lines for better visibility.
  
• Drawn on Lower Timeframe: All lines appear on your active lower timeframe chart, allowing easy visual correlation.
  
  
  
  "How It Works"
  The script fetches the open, high, low, close, and time data of the specified HTF candle. It detects new HTF bars and identifies trend direction changes by comparing the highs and lows of consecutive HTF candles.
  
  - When an uptrend is detected, vertical lines are drawn from low to high of the HTF candle, connected to the previous extreme low.
  - When a downtrend is detected, vertical lines are drawn from high to low, connected to the previous extreme high.
  - Transitions between trends are highlighted by connecting the last extreme of the previous trend to the current extreme, creating a clean zigzag pattern.
  
  
  Usage Notes:
  Ideal for traders who want to visualize HTF market structure and trend changes while analyzing price action on lower timeframes.
  
  ---
  
  © The_Forex_Steward
  [Mozilla Public License 2.0](mozilla.org/MPL/2.0/)

11. Juli

Versionshinweise

alerts added

11. Juli

Versionshinweise

alerts added