Trendline zigzag in qualitative channel - MetaTrader 5 için gösterge

This indicator is as an evolution of the classic Donchian channel. 

Pivots are identified using a zigzag structure and graphical markers, with the pivots derived entirely from the behaviour of the channel. A pivot is triggered when the channel flattens, forming a connector point for the next zigzag leg. To avoid weak or insignificant pivots, a depth parameter is used to confirm the channel’s flatness before marking a new pivot. The pivot logic is intentionally kept simple, with no forward correction applied. As a result, there is some inherent lag due to the need for confirmation.

To make the indicator more useful in live trading, the current "live" leg is drawn as a dynamic trendline from the most recent confirmed pivot to the current price extreme. This trendline remains valid until a new pivot is confirmed. The result is a continuously updating cycle of trendlines, which enhances the visual interpretation of the channel and provides an analytical advantage.

The purpose of this indicator is to observe whether price action respects the trendline by reacting to it with a bounce, or disrespects it, by altering it and prompting a shift in direction. This tool provides qualitative insight rather than precise signals, so it should not be used to predict exact market movements or serve as a standalone decision-making tool.

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Edit: A new version (1.02) is uploaded with a full code reconstruction and input options for leg correction, and the ability to enable or disable the trend line