Algorithm to find out the "REAL Highs & Lows" Swings in Trading.
Reason/Benefit:
Most trades place their stop behind false Pivot/Swing highs & Lows. Therefore the Whlaes (Big Money) have a easy time to stop out (stop fishing) these stops.
I's a fact that if traders could use real highs and lows, their stopout frequence would improve dramatically, and so the success of the trades. I use these every day in my trading, but there is no indicator that makes it easyer for not so professionals to use it in a simple way, like using a indicator.
The following rule applies to ANY time frame, Range, or whatever chart-type:
Find a REAL new High-Swing:
A new high-swing is CONFIRMED when the high of the canlde is below the last (confirmed) Swing LOW.
> draw a marker (line) above the new confirmed High price.
Vice versa to find new confirmed Low-Swing
Price tag: none, it should be a opensource indicator in various programming languages like python, pine-script (for TradingView.com), C# (NinjaTrader) etc.
Algorithm to find out the "REAL Highs & Lows" Swings in Trading.
Reason/Benefit: Most trades place their stop behind false Pivot/Swing highs & Lows. Therefore the Whlaes (Big Money) have a easy time to stop out (stop fishing) these stops. I's a fact that if traders could use real highs and lows, their stopout frequence would improve dramatically, and so the success of the trades. I use these every day in my trading, but there is no indicator that makes it easyer for not so professionals to use it in a simple way, like using a indicator.
The following rule applies to ANY time frame, Range, or whatever chart-type:
Find a REAL new High-Swing:
A new high-swing is CONFIRMED when the high of the canlde is below the last (confirmed) Swing LOW. > draw a marker (line) above the new confirmed High price.
Vice versa to find new confirmed Low-Swing
Price tag: none, it should be a opensource indicator in various programming languages like python, pine-script (for TradingView.com), C# (NinjaTrader) etc.
Example Sketch: https://share.sketchpad.app/22/a86-af7e-e8dfb3.png
Happy 2022