This rough code identify HL HH LH LL from zigzag.

Since the internal instruction of the platform uses only one price value to calculate the zigzag, I used 2 instructions at a time, one to identify the peaks (High) and another one for the troughs (Low). Then, to draw the segments, and as we do it by advancing in the history, to draw a new low, the previous point must be a peak, except that sometimes it is not the case if the price did not go high enough for example to form a peak, so that is why we can see several successive low points (same goes for high points). In this case only the first point is identified.

To check if a trend is reversed we can start from this first test by checking the last identifications.

percent = 0.5

zzh = ZigZag[percent](high)
zzl = zigzag[percent](low)

itop = zzh<zzh[1] and zzh[1]>zzh[2]
bot = zzl>zzl[1] and zzl[1]<zzl[2]

once lastzz=1
atr = averagetruerange[10]

//peaks
if itop then 


//segment
if lastzz<0 then 
drawsegment(barindex[1],zzh[1],prevlbar,prevl)

//LH
if zzh[1]<prevh then 
drawtext("LH",barindex[1],zzh[1]+atr/2,dialog,bold,16)
else
//HH
drawtext("HH",barindex[1],zzh[1]+atr/2,dialog,bold,16)
endif
else
drawsegment(barindex[1],zzh[1],prevhbar,prevh)
endif
lastzz=1
prevhbar=barindex[1]
prevh=zzh[1]
endif

//troughs
if bot then


//segment
if lastzz>0 then 
drawsegment(barindex[1],zzl[1],prevhbar,prevh)

//HL
if zzl[1]>prevl then
drawtext("HL",barindex[1],zzl[1]-atr/2,dialog,bold,16)
else
//LL
drawtext("LL",barindex[1],zzl[1]-atr/2,dialog,bold,16)
endif
else
drawsegment(barindex[1],zzl[1],prevlbar,prevl)
endif
lastzz=-1
prevlbar=barindex[1]
prevl=zzl[1]
endif

return

Hi Nicolas,

Great indicator however when I plot it on an intraday chart, I use 20sec and 1min, initially the indicator plots the swings correctly however as the realtime feed continues the indicator starts to plot the very small swings.  I have no idea why this is occuring.  I’ll post two charts as an example of what is happening.  Unless this code is not capable to run with streaming prices?  If there is a solution to this I have a request for a mod to the indicator however I’ll let you review this first problem/quesion.