OPEN-SOURCE SCRIPT
Consecutive Unswept Lower Highs/ Higher Lows Counter
Updated
Counts consecutive Lower Highs and Higher Lows; number resets to zero when previous pivot high or low gets swept
-To help give an idea of when a retracement / run-on-stops may be overdue. i.e. the higher the counter number grows, the longer we've gone without a proper retracement.
//inputs//
~pivot lookback/lookforward: increase this for more significant pivot highs and lows.
~number of pivot high 'counter' labels (pairs) to show in history.
~formatting options.
-To help give an idea of when a retracement / run-on-stops may be overdue. i.e. the higher the counter number grows, the longer we've gone without a proper retracement.
//inputs//
~pivot lookback/lookforward: increase this for more significant pivot highs and lows.
~number of pivot high 'counter' labels (pairs) to show in history.
~formatting options.
Release Notes
-update to start the counter at 1 instead of 0Release Notes
-added optional 'spikey' filter for Pivot highs/lows (default off): Use to filter out smooth/unimpressive pivot high&lows. Higher number = more spiky / less rounded pivot highs & lows onlyRelease Notes
-Update showcase chart; change default settings: 'Spikiness' filter default ON.Release Notes
-Added Alert conditions: alerts to be manually set by user (via the 3 dots on indicator status line)Release Notes
-Use ATR multiples for label offset vertical spacing; works on low $ unit price crypto assets nowRelease Notes
Added realtime sweep labels: choose consecutive pivot high and/or low threshold; label prints as bar is painting, when the pivot is swept (e.g. 5th consecutive higher low pivot low is swept => label print)Release Notes
-Added successive sweep labels: each sweep of a prior successively Lower High or Higher Low gets a label. e.g if it sweeps the last in a sequence of LHs, prints 'ʌ'; if it then sweeps the second last of the LHs, prints double 'ʌ', etc, etc...Release Notes
-updated display chart. Ignore March 18th 2023 update, that's been superseded with the above update.Release Notes
-allow independent toggle on/off of number labels and sweep labels; cleaned up codeRelease Notes
-added extra 'fixed' alert conditions, to allow default message to automatically print the number of consecutive LHs or HLs pivots reachedRelease Notes
-added condition to alert on realtime bar. Default is toggled OFF, which means alerts come in one bar later, but it avoids repainting issues.-added simple alerts for 'pivot high confirmed' or 'pivot low confirmed'; irrespective of consecutive number, these will alert on any pivot high or low being confirmed.
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.
You can buy me a coffee here...
PayPal.Me/twingall
BTC: 3JrhUwNRnKyqhaa1n1AXKeAubNeEFoch6S
ETH erc20: 0x4b0400B1c18503529ab69611e82a934DDe4Ab038
ETH bep20: 0x1F0f03F184079bb1085F8C9dF3a8191C9f5869B3
PayPal.Me/twingall
BTC: 3JrhUwNRnKyqhaa1n1AXKeAubNeEFoch6S
ETH erc20: 0x4b0400B1c18503529ab69611e82a934DDe4Ab038
ETH bep20: 0x1F0f03F184079bb1085F8C9dF3a8191C9f5869B3
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.