OPEN-SOURCE SCRIPT
Highs and Lows Marker
Indicator Description – Highs and Lows Marker
This indicator identifies swing highs and swing lows based on a simple two-candle pattern structure:
High Formation (Swing High):
A High is marked when a bullish candle (Candle Up) is immediately followed by a bearish candle (Candle Down).
The High value is taken as the highest wick price between the two candles in this formation.
This represents a potential short-term resistance or turning point in the market.
Low Formation (Swing Low):
A Low is marked when a bearish candle (Candle Down) is immediately followed by a bullish candle (Candle Up).
The Low value is taken as the lowest wick price between the two candles in this formation.
This represents a potential short-term support or reversal area.
This indicator identifies swing highs and swing lows based on a simple two-candle pattern structure:
High Formation (Swing High):
A High is marked when a bullish candle (Candle Up) is immediately followed by a bearish candle (Candle Down).
The High value is taken as the highest wick price between the two candles in this formation.
This represents a potential short-term resistance or turning point in the market.
Low Formation (Swing Low):
A Low is marked when a bearish candle (Candle Down) is immediately followed by a bullish candle (Candle Up).
The Low value is taken as the lowest wick price between the two candles in this formation.
This represents a potential short-term support or reversal area.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.