PSP - Swing Point - Daye Quarterly Theory - 2 Assets

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This indicator detects divergences in candles across two closely related assets. For example, when NQ closes bullish and ES closes bearish these candles are coloured Orange. The colour can be changed in the settings.

In addition there is swing point detection. However, instead of displaying all of the swing points that occur, this indicator will only label those which occur on candles which show a divergence between two closely related assets.

These have been named Precision Swing Points, or PSPs, by Trader Daye and are a key part of his teaching on Quarterly Theory.

This works across all timeframes.

I am also planning to release two other verions:
- One which detects PSPs between 3 assets
- Another which detects PSPs that occur when assets 1 and 2 (NQ and ES, for example) diverge vs asset 3 (for example, YM). If NQ and ES both close bullish, but YM closes bearish, this will be labeled

Other indicators which are show on the chart below and are highly recommended for Quarterly Theory:
Quarterly Theory Smart Money Assistant - tradingview.com/v/b8LSdK3F/ - by https://x.com/IndiTraderTech
Triad QT Beta - tradingview.com/v/oiNkpyLT/ - by @darkmiki2
Daye Quarterly Theory by toodegrees - tradingview.com/v/n2aeO1GB/ - by toodegrees
ICT NWOG/NDOG - tradingview.com/v/bUKJF0Gm/ - by Fadi

ES 5m Chart vs NQ (above)


Notes:
- I recommend adding this script to both assets as one may be a swing point and the other not
- Candles which closes the same as what they open at are considered bullish