OPEN-SOURCE SCRIPT
YTC - Swing Highs & Lows
Updated
This Indicator Plots Swing Highs & Swing Lows based on Lance Beggs of (Your Trading Coach) definition:
A Swing High (SH) is a price bar high preceed by two lower highs (LH) and followed by two lower highs (LH)
In the event of multiple candles forming equal highs, this will still be defined as a swing high, provided that there are two candles with lower highs both preceding and following the multiple candle formation.
A Swing High (SH) is a price bar high preceed by two lower highs (LH) and followed by two lower highs (LH)
In the event of multiple candles forming equal highs, this will still be defined as a swing high, provided that there are two candles with lower highs both preceding and following the multiple candle formation.
Release Notes
Added the verification of all the possible casuistry:If there are two, three or four bars followed with the same highs or lows and surrounded with tiny bars
Or two or three bars with equal highs or lows alternating with tiny bars.
New parameter to activate repaint (NOT repaints by default)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.