I am a newbie here and searched through the forum and the indicators on the market and could not find what I was looking for hence decided to ask for help. I appreciate your time in advance.
Do you happen to have / seen an indicator for MT4 that marks a swing High / swing Low with adjustable criteria as below:
1- allows to specify the number of past bars it looks for higher high separately
2- allows to specify the number of future bars it looks for higher high separately
i.e. shows a blue circle on top of a bar which has a higher high than the past 3 bars and the next bar after.
icing of the cake if it could be set-up with a custom alert each time a new matching cretieria occurs.
The most well know indicator for marking the Swing points is the typical ZigZag indicator. If you wish to learn a little more on how it works, try my ZigZagZug which shows how the depth and breakouts are used to produce the ZigZag:
Obviously, there are many other methods to detect Swing points, such as using Fractals, so do a search on the CodeBase for other such Indicators.