Von ZigZag

//@version=4
study("Zig Zag High Low", overlay = true)
length = input(4, title = "High/Low length")
h = highest(high, length * 2 + 1)
l = lowest(low, length * 2 + 1)
f_isMin(len) =>
    l == low[len]
f_isMax(len) =>
    h == high[len]

var dirUp = false
var lastLow = high * 100
var lastHigh = 0.0
var timeLow = bar_index
var timeHigh = bar_index
var line li = na
f_drawLine() =>
    _li_color = dirUp ? color.teal : color.orange
    line.new(
         timeHigh - length, lastHigh,
         timeLow - length, lastLow,
         xloc.bar_index, color=_li_color, width=2
         )

if dirUp
    if (f_isMin(length) and low[length] < lastLow)
        lastLow := low[length]
        timeLow := bar_index
        line.delete(li)
        li := f_drawLine()

    if (f_isMax(length) and high[length] > lastLow)
        lastHigh := high[length]
        timeHigh := bar_index
        dirUp := false
        li := f_drawLine()

if not dirUp
    if (f_isMax(length) and high[length] > lastHigh)
        lastHigh := high[length]
        timeHigh := bar_index
        line.delete(li)
        li := f_drawLine()
    if f_isMin(length) and low[length] < lastHigh
        lastLow := low[length]
        timeLow := bar_index
        dirUp := true
        li := f_drawLine()
        if (f_isMax(length) and high[length] > lastLow)
            lastHigh := high[length]
            timeHigh := bar_index
            dirUp := false
            li := f_drawLine()