LuxAlgo

Swing Highs/Lows & Candle Patterns

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 .

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.

Usage & Details

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.

Note that the labels are offset, and will appear later in real-time, as such this indicator is not intended to detect tops/bottoms in real-time.

Higher values of length might return errors.
Release Notes: Copyright update & default "length" input value set to 20.
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Our Website to get access to our invite-only scripts: https://LuxAlgo.com

Lux Algo Documentation: https://docs.luxalgo.com

Join our Discord Group: https://discord.gg/LUX

Comments

how much times later the labels are appear.
+25 Reply
alexgrover hirupamg
@hirupamg, precisely "length" bars laters :)
+7 Reply
hirupamg alexgrover
@alexgrover, after the particular bar close that, will it show the HH,HL,LL signal or two three bar later
Reply
@hirupamg, iT IS GIVING AFTER 20 BARS. WHICH WILL NOT HELP IN REALTIME TRADING
+5 Reply
LuxAlgo sweetynxtlvl
@sweetynxtlvl, Hi, labels appear after "length" bars - you can adjust this via the settings. As per the description, this is not meant to detect tops & bottoms in real time.
+2 Reply
how can i add alert Inverse Hammer and shooting start
+5 Reply
Not for free
+1 Reply
LuxAlgo kris2323
@kris2323, This is an open source script, you can add it to your favorite scripts and access it via Indicators!
+2 Reply
how to use this script?
+1 Reply
alexgrover SoheilSalimi
@SoheilSalimi, Just add it to your chart and select the length settings you want.
+1 Reply
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