Swing Points

The Swing Points indicator identifies key levels of support and resistance by analyzing price-action data to detect swing highs and swing lows. It serves as a versatile tool for traders to visualize market structure, identify potential order blocks, and project higher timeframe levels onto lower timeframe charts to simplify market analysis.

Usage

The script automatically identifies and labels pivotal high and low levels based on current price action. These points are classified as Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL), helping traders determine market trend and potential reversal zones.

A key feature of the tool is the ability to display supply and demand zones (Order Blocks) originating from these swing points. These zones represent price levels where significant buying or selling pressure occurred, marking them as areas for potential future reactions. Additionally, the indicator allows users to "mirror" higher timeframe swing points—such as 1-hour or Daily levels—directly onto their current chart to maintain a broad perspective of market strength while trading lower timeframes.

Details

The script utilizes a configurable "Pivot Strength" calculation to filter market noise. It looks for a specific number of bars to the left and right of a candle to confirm it as a swing point. When a swing point is confirmed, the script can draw a box representing the price range of the pivot bar, a midline, and an extension line that tracks current price action relative to that historical level.

Settings

Configuration

• Pivot Strength: Adjusts the sensitivity of swing point detection. Higher values require more surrounding bars for confirmation, resulting in fewer, more significant pivots.
• Font Size: Changes the size of the text labels (HH, LL, etc.) on the chart.

Visibility & Styling

• Higher High / Lower High / Lower Low / Higher Low: Individual sections to toggle the visibility of specific point types, customize their colors, and enable/disable the background "Zones."

Higher Time Frame

• Display Current Timeframe: Toggles the visibility of pivots calculated on the active chart interval.
• Higher Timeframe Toggles (5m, 15m, 30m, 1h, 4h, Daily): Allows users to overlay swing points from specific higher intervals onto the current chart for multi-timeframe analysis.

FAQ

How do I access Swing Points?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What does "Pivot Strength" do?

It defines how many bars must be lower (for a high) or higher (for a low) on either side of a candle to qualify it as a swing point. Increasing this value filters out minor fluctuations.

Can I use this for multi-timeframe analysis?

Yes, the script includes built-in settings to mirror pivots from various higher timeframes (from 5 minutes up to Daily) onto your current chart simultaneously.