DO NOT USE THIS FOR TRADING. I am just showing off my new found recipe for pattern recognition ;)
This script generates recursive zigzags till there are only 2 pivots. So, the logic goes like this.
Level1 - Standard zigzag calculated from user input of length and max pivots using OHLC values Level2 - Multi level zigzag calculated on the basis of level1 pivots. Level3 - Multi level zigzag calculated on the basis of level2 pivots .. .. .. Level(n) - Multi level zigzag calculated on the basis of level(n-1) pivots and number of derived pivots is 3 or less.
Ability to generate multi level zigzags were explored earlier in many scripts. But, they were just single level up from base and not fully recursive as this. This can be powerful piece of code for pattern recognition algorithms - will be exploring how useful these are going forward.
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Made few corrections. Plus added option for better visualisation.
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Update libraries
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Updated zigzag library version
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Update to latest rZigzag library
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Updated library version. Added option to use only confirmed bars.