OPEN-SOURCE SCRIPT
Faytterro Market Structere
Updated
this indicator creates the market structure with a little delay but perfectly. each zigzag is always drawn from highest to lowest. It also signals when the market structure is broken. signals fade over time.
The table above shows the percentage distance of the price from the last high and the last low.
zigzags are painted green when making higher peaks, while lower peaks are considered downtrends and are painted red. In fact, the indicator is quite simple to understand and use.
"length" is used to change the frequency of the signal.
"go to past" is used to see historical data.
Please review the examples:
The table above shows the percentage distance of the price from the last high and the last low.
zigzags are painted green when making higher peaks, while lower peaks are considered downtrends and are painted red. In fact, the indicator is quite simple to understand and use.
"length" is used to change the frequency of the signal.
"go to past" is used to see historical data.
Please review the examples:
Release Notes
it draws earlier now.Release Notes
changed the ''max_bars_back'' to 2000.Release Notes
bugs fixed.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 publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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