My second ZigZag based indicator.

Multi Level ZigZag indicator + Markttechnik Counting
Provide the same feature as the ZigZag base Version from me.
It will draw 5 Zigzag Levels
The parameter Length is for building the Level 0 ZigZag
Level 1 – 4 will be be build with the ZigZag Point of prev Level.
It will also save some ratio value ratio, rizeratio, Barratio
ratio : current move against lasmove 1 = 100% retracement 0.5 = 50% retracement
barratio : current move bar length against lasmove bar length
sizeration current move against last move of the same direction.
It will also count the zigzag point as described in “Markttechnik” very similar to Dow Theory or pattern 1-2-3

// settings ———————–
cLength1 = 2 // Lookback for Level 0 ZigZag
MaxBars = 1000 // Calculated on this last Bars, will reduce calculation time
AllowDouble = 1 // Allow New High or Low points at the same bar
AllowOverflow = 1 // Force a new High or Low Point, if no new high or low point was found after cLength1
ShowLabel = 0 // Sho the label on zigzag point with Ratio Values (0-4)
ShowLegend = 1 // Show Legend color
HighLevel = 1 // Highligth Level x zigzag (solid line and Label if enabled)
Show123 = 0 // Show 123 Counters instead of Label. Points are counter as described in Markttechnik very similar to Dow Theory