Wedge and Flag Finder (Multi - zigzag)

2022年3月18日

Here is a small attempt to automatically identify wedges and flags.

Tradingview standard wedge checks for only 4 pivots. In this version, I have considered 5 pivots instead - which can help reduce noise as 4 pivots forming wedge can be quite common. In future, will also try to add more pivots in pattern recognition to make the signal more accurate.

If wedge comes with a tail, then it is marked as flag :)
Settings are quite simple and they are as shown below

https://www.tradingview.com/x/AJraEYii/

2022年3月19日

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Few updates

• You can now select wedge based on 5 or 6 pivots (defined in settings)
  
• Theme based colouring option added in the settings. Now users can chose either dark or light theme (Refers to chart background theme).
  
• Option added in settings to hide zigzag lines and labels within wedge.
  
• Angle based logic are refined as well as the settings. Angle restrictions are by default not selected as they often can be unreliable.
  

Snapshot of the latest settings screen look like this:
https://www.tradingview.com/x/BK6jtwNW/

2022年4月2日

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• Added alert upon new pattern formation.
  
• Added labels for wedge
  

2022年12月26日

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Updated libraries. Removed max_bars_back

2022年12月26日

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reverted max_bars_back change as it lead to error.

1月3日

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Added option to filter only wedge or flag using input options.

1月4日

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Added condition to alert only after bar confirmation. This is done to avoid repaints of alerts.