Author: Tinytjan aka TheXpert
Idea Contributor: Xadviser aka Versumus
Description:
The Channel ZigZag (ZZ) utilizes the channeling principle to help traders identify market trends effectively. By default, the channels are drawn automatically, aiding in visualizing price movements.
This indicator also provides useful statistics, including the ratio of the current section's length to that of the previous section. Here, length refers to the height in points from the lowest to the highest price point in the given section.
Visual Representation:
Important Notes:
- At times, the visual output of the indicator might not be entirely clear; this can be attributed to the specific method used for drawing.
- If you spot any errors or inaccuracies, please share your feedback in the comments below.
- We welcome suggestions for improvements or optimizations—feel free to share your thoughts here or via email.
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