Confirmed Swing Highs and Lows Without Repainting

Summary

This indicator identifies swing highs and lows by comparing each candidate bar with a fixed number of bars on either side. A high must exceed the highs to its left and meet or exceed those to its right; lows use the mirrored rule. The indicator waits until all right-side confirmation bars have closed before plotting a swing, so confirmed marks remain fixed. Its strength setting controls the number of bars required on each side, and alerts can announce newly confirmed swings. Price values are also exposed through buffers for use by an Expert Advisor.

The document presents the indicator as a charting and analysis component that can support structure-based logic, including breaks of structure and change-of-character analysis, as well as backtests. Its central tradeoff is confirmation delay: a swing appears only after the specified number of later bars have closed. It is not a trading signal, offers no profitability evidence, and makes no claim that using these marks improves results.

Key ideas

• A swing high or low is identified by comparing a candidate bar with neighboring bars on both sides.
• A swing is plotted only after all required bars on its right have closed.
• Waiting for confirmation prevents previously plotted swings from being removed or shifted.
• The strength setting controls the confirmation window and therefore the delay before a swing appears.
• The indicator provides chart marks and price buffers but does not itself generate trading signals.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.