Consecutive Unswept Lower Highs/ Higher Lows CounterCounts 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.
Lowerhighs
Pivot High/Low ComparisonThis script will show you at a glance the following trends:
Higher Highs (Green line on top)
Lower Highs (Red line on top)
Higher Lows (Green line on bottom)
Lower Lows (Red line on bottom)
It utilizes the Pivot High and Pivot Low functions to determine if the previous pivot was higher or lower than the current pivot .
SequenceSee the highs and lows easily!
Up sequence:
The close of each candle is higher from the low of the previous candle.
* The reference will always be to the low of the highest candle in the up sequence
Down sequence:
The close of each candle is lower from the high of the previous candle.
* The reference will always be to the high of the lowest candle in the down sequence
Support Resistance HH HL LH LLThis is a very powerful indicator and I'm really happy to show you how it works.
It shows Higher Highs(HH),Higher Lows(HL),Lower Highs(LH),and Lower Lows (LL), the supports and the resistance.
Lets start with the HH, HL, LH and LL.
This points helps a lot who can not identify them yet. They help to identify up trends having HH and HL in sequence, and when the trend is not strong anymore creating LH after.
For down trends, the indicator show LH and LL in sequence and when the trend is not strong anymore showing HL after.
As well this indicator helps to draw trend lines when it shows. For example the LL drawing the line from the low of the first candle (LL) to the low of the second candle showing HL for an uptrend.
It can be done for the down trend, drawing the trend line from the high of the candle showing the HH, to the high of the candle showing LH.
Another use of the HH, HL, LH, LL can be the stop loss this will be explained later in the support and resistance part.
Now let me explain the support and resistance.
The support and resistance can be used as entry when the price break true using the previous HH, HL, LH and LL as stop loss.
For a safer entry I advise to use the retest of the line.
In the settings of the indicator there is the possibility to make the indicators invisible, to change the color, and as well to change how many candles before and after the main candle showing the HH, HL, LH and LL, but I advise to leave it as it is.
Thank you and lets take some pips!
