Double Zig Zag with HHLL

4 Nov 2020

Hello Traders,

Here Double Zig Zag with HHLL script is with you. it calculates 2 Zig Zag simultaneously and draws them, and also it calculates and puts Higher High, Lower Low, Higher Low, Lower High labels. All these are done dynamically, it means last HH/HL/LL/LH can change. if price continues to go up then HL can turn to LL or if price continues to go down then LH can turn to HH. This script can be used for different purposes such trend analysis, support/resistance levels, breakouts etc.

I tried to make many things optional:
You can set Periods for Zig Zags as you wish
You can set different colors for both Zig Zag Up/Down lines
You have option to show both Zig Zag, one of them or none them
You have option to show both HHLL, one of them or none them
You can set Zig Zag 1 line style as Dashed or Dotted
You can set Line Widths for Zig Zags

Some examples:









Enjoy!

5 Nov 2020

Nota Keluaran

Label colors changed by the trend as HH/HL shows the uptrend and LL/LH shows the downtrend.
"Text Color" option added for the text in labels.

3 Okt 2021

Nota Keluaran

both Zigzag parts improved
unnecessary variables removed from the algorithm