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This indicator identifies and signals the points of swing highs and swing lows on the price chart using an algorithm based on market structure. Local highs and lows are highlighted with a colored dot, making it easier to perform technical analysis and recognize trend reversals.

The indicator analyzes a predefined number of bars (e.g., 5 candles) to determine relative highs and lows:

Swing High (Local High) → The current candle has a higher high compared to the previous and subsequent candle.
Swing Low (Local Low) → The current candle has a lower low compared to the previous and subsequent candle.
When a candle meets one of these conditions, a visual dot is placed to indicate the potential reversal point.

Notes de version

Added a toggle option to enable or disable the display of local highs and lows in the script. This is done using an input(true, title="Show max/min") checkbox, which allows users to control whether the plotted markers for highs and lows are shown. The plotshape functions are modified to check the enableDisplay variable, ensuring that the circles are only drawn when the option is enabled.

Script open-source

Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.

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Script open-source

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