KS Multi TimeFrame Zigzag
- Göstergeler
- Kulvinder Singh
- Sürüm: 2.1
- Etkinleştirmeler: 10
KS Multi TimeFrame Zigzag
This is a Multi-Timeframe ZigZag Channel Indicator. It plots ZigZag pivots from up to 4 different timeframes simultaneously on your current chart, and for each ZigZag, it automatically draws channels (Upper, Middle, Lower lines) based on the deviation of price from the ZigZag legs.
It combines the power of:
- Classic ZigZag (to find swing highs/lows)
- Price Channels around those swings
- Multi-Timeframe analysis
Core Functionality
1. Multi-Timeframe ZigZag
- You can enable up to 4 independent ZigZags, each running on its own timeframe.
- Default setup:
- ZZ1 → M15
- ZZ2 → H1
- ZZ3 → H4
- ZZ4 → D1
2. ZigZag + Channel System
For every ZigZag swing (high or low), the indicator:
- Detects pivot highs and pivot lows
- Draws a Middle Line connecting the pivots
- Calculates the maximum deviation (how far price moved away from the ZigZag leg)
- Draws Upper Channel and Lower Channel based on that deviation
This creates a dynamic price envelope/channel around each ZigZag.
3. Visual Features
- Colored Arrows on chart for pivots (DodgerBlue, Magenta, Lime, Gold)
- Trend Lines for Mid, Upper, and Lower channels
- Price Labels at pivots (optional)
- Timeframe Labels on lines (e.g., "M15", "H4") — very useful for quick identification
- Ray Extension of the latest (unfinished) channel to the right
Key Input Parameters (for each ZigZag)
| Parameter | Purpose |
|---|---|
| Enable | Turn this ZigZag on/off |
| Timeframe | Which TF to calculate on |
| Length | Sensitivity (higher = fewer, stronger swings) |
| Extend Last | Extend the current unfinished channel to the right |
| Show Channel | Show Upper & Lower deviation lines |
| Show Labels | Show price at pivots |
| Show TF Label | Show "M15", "H4" etc. on lines |
| Mid / Upper / Lower Color, Style, Width | Customization of each line |
How It Works (Simplified)
- The indicator pulls data from the selected timeframe.
- It runs a ZigZag algorithm (similar to the built-in one but customized).
- For every confirmed swing:
- It measures how far price deviated from the straight ZigZag line.
- Creates parallel channels (Upper & Lower) using that maximum deviation.
- The Middle Line is the actual ZigZag.
- Everything is drawn using objects (trend lines + text).
Best Use Cases
- Multi-timeframe confluence — see higher timeframe structure on lower timeframe chart
- Dynamic Support/Resistance — the channels act as dynamic zones
- Breakout Trading — when price breaks upper/lower channel
- Trend Identification — alignment of multiple TFs
- Swing Trading — clear visual of swing points across timeframes
Advantages
- Very clean and organized (color-coded per timeframe)
- Good performance (uses throttling to avoid lag)
- Highly customizable
- Shows real multi-timeframe structure clearly
