Zero Lag - ZigZag - JD — Indicator by Duyck

trendanalysis zigzagindicator nolag zigzag wavecount

This is a alternative version of the well known "ZigZag indicator" but it uses turning points of the Jurik ma
instead of the traditional "pivot points" that are by definition lagging by a large lookback period, the (almost-) Zero Lag ZigZag lags by about 2 bars on average (depending on the candles forming)

The ZigZag pattern can be used to draw trendlines and S/R lines
It can also be used for "wave counting" in a way that reduces interpretation.

If you find other uses, please leave your ideas in the comments!

Shoutout to Everget for the awesome Jurik code!!

JD.

#NotTradingAdvice #DYOR

Release Notes:

Code cleanup.

Release Notes:

update to v4.

Release Notes:

- Added alerts, due to popular request!
IMPORTANT NOTE:
if alerts ettings are adjusted ALL ALERTS MUST BE RESET manually, the running alerts don't update automatically!!!

- settings tab and code cleanup.

Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.

You can contact me for info/access in PM or on Telegram: @jduyck
PLS, DON'T ASK FOR ACCESS IN THE COMMENT SECTION!

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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