Peak ↔ Trough Leg & Cycle Counter

Aug 5

This indicator plots both leg counts and cycle counts between peaks and troughs, and includes a real-time counter showing the number of bars since the last swing (peak or trough).

=== Description ===
"Peak ↔ Trough Leg + Cycle + Real-Time Counter" is a swing-based timing tool designed for discretionary and systematic traders.

It detects local peaks and troughs based on user-defined swing length and visually tracks:

1. The number of bars between alternating peaks and troughs ("Leg Count")
   
2. The number of bars between recurring same-type swings (Peak→Peak and Trough→Trough "Cycle Count")
   
3. A real-time counter showing bars elapsed since the last confirmed swing (updated live on the most recent bar)
   

Labels are drawn at each swing point:

• Top arrows (teal) at local peaks
  
• Bottom arrows (green) at local troughs
  

Each label contains:
Line 1 – Bars since last swing (Leg Count)
Line 2 – Bars since last same-type swing (Cycle Count)
A yellow label is shown on the most recent bar, counting live from the last swing.

=== Potential Uses ===

• **Time-based entry filters**: Wait for X bars since last swing before entering a trade.
  
• **Cycle analysis**: Visually gauge market rhythm and mean-reversion timing.
  
• **Backtesting timing rules**: Use swing-to-swing durations to test ideas like "enter long only if X bars since peak".
  
• **Momentum/fade context**: Identify when a market is overextended in time vs. price.
  
• **Bar-count-based trailing stops**: Combine time since last swing with price stops for dynamic exits.
  
• **Training visual intuition**: Reinforce understanding of market structure through peak/trough rhythm.
  

Aug 5

Release Notes

label disclaimer