I would like to introduce you zigzag support&resistance multi timeframe 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.
I's the same zigzag indicator as my other zigzag indicator with distinction that supports multi timeframe levels as well, with depth setting for every timeframe.
I hope you will enjoy it as I enjoyed to write it.
Hello. Useful script. For your reference, the f_drawlabel from line 188 to 191 are repeating the third time frame yValues instead of the fourth time frame yValues. Good job anyway
lmatl
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@parisseine, thanks for the comment and noticing the error, will fix it soon
ukmpits
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@lmatl Is there any future update Sir? Thanks mate
HT-Bot
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good
decanfrosty
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What does depth setting mean and also the other settings?.Where can i find this out .Very good concept.CAn the lines/levels of the zigzag be altered to work off CLOSE instead of HIGH??.Thanks Again
decanfrosty
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Thankyou for sharing this.This looks like a very handy indicator.My aim is to show the weekly zz the dayly zz the h4 zz,locked .So if i change a chart all i see is this.Will investigate,just downloaded. Thanks again
mgoblue
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Excellent script! Is there a way to make it so it says the timeframe of the lines? The other addition would be to make it so that you can't see lower timeframe levels on the higher timeframe charts. I only want to see the higher timeframe labels on the lower charts. Can these changes be made?
sanjudad
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Very nice. Can you change the mtf line ? if they start from origin candle then it is easy to understand the levels. like shown without mtf.
lmatl
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@sanjudad, sorry I won't change it. There are restrictions regarding using security function(function that calculates mtf lines). I could calculate values from current timeframe but that has drawdown as well so I did compromise and code the solution for you to be able to at least see the levels if not exactly the origin of that line on any timeframe you'll put on your chart
lmatl
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@lmatl, I use numbers of occurence which means the lower the number of that level is the more recent it is. For example "D 1" meand it's daily timeframe and it's the most recent level on that timeframe