Get started
yohtza

Major Swings

yohtza  
Pivot points and levels Trend Analysis Fractal swingpoints BPA
58
0
pivotpointsandlevels trendanalysis fractal swingpoints bpa
This is an indicator that shows minor and major swing highs and lows.

With the help of Average True Range it is calculating if stop order bulls are able to make money buying above swing highs and if bears are able to make money selling below swing lows.

Assumption is that if they are able to make money ( at least a scalp that is a size of an average bar based on atr ) the trend is strong and the opposite swing point is therefore major.

It is possible to change the amount of bars that indicator compares to find swing points as well as atr period, label colors and show/hide minor swing points.
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 a publication is governed by House Rules. You can favorite it to use it 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.

Want to use this script on a chart?