Code for Swing High, Swing Low and Swing Failure Pattern. Note that we're still in the alpha version, bugs may appear.
Note that the number you set in your Swing History variable will also be the minimum delay you see until the apples appear. This is because we're checking the forward "history" too.
The SFP will only check for these conditions: - high above Swing History high and close below it - low below Swing History high and close above it
In some cases you may see an apple before the SFP that "doesn't fit" with the SFP conditions. That's because that apple was drawn later and the SFP actually appeared because of the previous apple . 20 candles later.
Legend: 🍏 - swing high 🍎 - swing low 🧺 - candle where the last swing was driven from 🍌 - swing failure pattern 🍎🍌 - hungry scenario: swing low but also a SFP compared to the last swing
Release Notes
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Added strategy code.
Release Notes
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Added alerts.
Release Notes
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Added cake 🍰 for stronger SFPs / SFPs in a row (but with a the secret sauce).
Release Notes
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Updated to PineScript v5. Corrected a mistake displaying cakes instead of bananaces in swing lows.
Ah, never mind it repaints it self when refresh page or change timeframe,it useless for real trading
vaidab
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It actually works for real trading if you get to understand the code. You don't trade using the swing high/low (which get repainted because you, per definition, need the forward bars too), you trade using the swing failure pattern which *doesn't* get repainted (even though it uses barssince because it checks only that a historical swing exists there). So if you add an alert for the SHFP/SLFP to become >0 you will be notified real time when such a pattern happens, which is the exact purpose of the code. So it's used for real trading without any issue, but it's not an indicator that pinpoints a moment to buy, it pinpoints a change in market structure that's indicative of a move. You'd normally take into account OI, POC, shorts/longs relations and others.
dddom
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@vaidab, Sorry, I don't understand what you mean,what's the point of drawing🍏🍎🍌 ?