Swing Highs/Lows & Candle Patterns [LuxAlgo]

17 Eyl 2020

This script labels swing highs and swing lows as well as the candle pattern that occurred at that precise point. The script can detect the following 6 candle patterns: hammer, inverse hammer, bullish engulfing, hanging man, shooting star, and bearish engulfing.

This indicator by its very nature backpaints by default, meaning that the displayed components are offset in the past.

🔶 USAGE

It can be interesting to see if a top or bottom is associated with a specific candle pattern, this allows us to study the potential of such a pattern to indicate a reversal. You can hover on a label with a specific pattern to see more details about it.

The notations HH, HL, LH, and LL you can see on the labels are defined as follows:

• HH : Higher high
  
• HL : Higher low
  
• LH : Lower high
  
• LL : Lower low
  

🔶 SETTING

Length: Sensitivity of the swing high/low detection, with lower values returning the maximum/minimum of shorter-term price variations.

28 Eki 2020

Sürüm Notları

Copyright update & default "length" input value set to 20.

15 Şub 2021

Sürüm Notları

Minor Changes.

4 Eki 2022

Sürüm Notları

Update to script title.

19 Tem 2023

Sürüm Notları

Changed styling, switched to version 5, and minor changes.

19 Tem 2023

Sürüm Notları

Minor changes