zigzag support&resistance levels [LM]

Hello Traders,

I would like to introduce you zigzag support&resistance levels. It is based on the ZigZag semafor script made by DevLucem so shout out to him

The Semafor is used to spot future multi-level Supports and Resistance zones.
It is also useful to spot HL or LL or HH or LH zones at different Depth settings.

The red zones are the extreme places where the market has a higher chance of reversing while the green zones have the lowest setting with lower chances of the market reversal

I have refactored script and extended it with the horizontals.

The lines can be extended like so if you want to see

The lines also can expire when the price will reach it you can change this in general settings:

Also you can use view from the original script with just label circles

リリースノート: added alert on confirmation of new level, add it to your alarms and you will start getting alerts New level have been confirmed and details about which ones
リリースノート: alert is now shown only for visible levels
リリースノート: fix of alert behavior


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.