HH-HL-HH and LL-LH-LL Screener with Alerts

The HH-HL-HH and LL-LH-LL Screener with Alerts indicator provides automated detection of price action structures, helping traders identify trend shifts and momentum through the identification of pivot-based higher highs, higher lows, lower highs, and lower lows.

Usage

The indicator identifies four primary price action milestones: Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL). Traders can use these points to determine the current market structure:

• Bullish Confirmation: Look for the "HH-HL-HH" pattern, which appears as a label above the bar when a sequence of rising peaks and troughs is confirmed.
• Bearish Confirmation: Look for the "LL-LH-LL" pattern, which appears as a label below the bar when a sequence of falling peaks and troughs is established.

The script includes built-in alert conditions for these specific sequences, allowing users to monitor multiple assets for structural trend changes.

Details

This tool utilizes pivot point calculations to define peaks and troughs based on a lookback and lookahead period. A Higher High is confirmed when a new pivot high exceeds the previous pivot high, while a Higher Low is confirmed when a new pivot low remains above the prior low. The "Screener" aspect refers to the logic that requires multiple structural points to align before a specific trend pattern label is triggered, reducing noise compared to individual pivot labels.

Settings

Inputs

• Pivot Length Left: Sets the number of bars to the left required to confirm a pivot point.
• Pivot Length Right: Sets the number of bars to the right required to confirm a pivot point.
• Wait For Close: When enabled, the indicator waits for the bar to close before confirming a pivot, preventing repainting of the current labels.
• Filter Pivots: Enables additional logic to filter out minor price fluctuations.

FAQ

How do I use the HH-HL-HH and LL-LH-LL Screener with Alerts?

You can apply the indicator to any chart and look for the colored labels. Green labels indicate bullish structural sequences, while red labels indicate bearish structural sequences.

Can I set alerts for specific market structures?

Yes, the indicator includes alert conditions for both the HH-HL-HH and LL-LH-LL patterns, which can be configured via the TradingView Alert menu.

Where can I access this indicator?

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