Algorithm to accurately finding swing & internal points

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Hi,

I'm new to MQL5 and would like to make an indicator that identify the swing & internal points of the chart. I read that in order for you to find the swing/internal points then you need to identify the HH/HL/LL/LH of the chart. I want to collect some algorithm ideas on how to do this. Thanks!

 

Your topic has been moved to the section: Technical Indicators
Please consider which section is most appropriate — https://www.mql5.com/en/forum/172166/page6#comment_49114893

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If you want purely accurate swing detection then you will achieve that with enormous delay, because true swings have to be confirmed and are after the fact.
If you want to find swings on time without delay it is just fleeting peak search and bottom search without caring about the true market structure, and there's a few trend based pivot indicators for that. Some are still after the fact, but others like psar are non lagging.
I published a psar zigzag, channel zigzag, and price percentage zigzag showing that there are completely different approaches that you can take. Study the code if you want to learn, or study other zigzags on the codebase as well
 
Conor Mcnamara #:
If you want purely accurate swing detection then you will achieve that with enormous delay, because true swings have to be confirmed and are after the fact.
If you want to find swings on time without delay it is just fleeting peak search and bottom search without caring about the true market structure, and there's a few trend based pivot indicators for that. Some are still after the fact, but others like psar are non lagging.
I published a psar zigzag, channel zigzag, and price percentage zigzag showing that there are completely different approaches that you can take. Study the code if you want to learn, or study other zigzags on the codebase as well


Is zigzag method the only accurate way to identify swing highs/lows at the moment?

 
Eka Rudianto #:


Is zigzag method the only accurate way to identify swing highs/lows at the moment?

I would say it is the best way, but I also made something called "magzag" which is a new approach to making the zigzag quantitative instead of being based on arbitrary price action.

There is also something called Fractals which really is nothing but a weaker version of the zigzag as it is based on turning points but has no input parameters. 

I attached a market structure indicator which is also essentially finding the swing highs and lows without using zigzag logic and doesn't repaint

Files:
Market_Structure.mq5  13 kb
 
Conor Mcnamara #:

I would say it is the best way, but I also made something called "magzag" which is a new approach to making the zigzag quantitative instead of being based on arbitrary price action.

There is also something called Fractals which really is nothing but a weaker version of the zigzag as it is based on turning points but has no input parameters. 

I attached a market structure indicator which is also essentially finding the swing highs and lows without using zigzag logic and doesn't repaint


Hi, thanks so much for the reply and the input! when you mentioned "doesn't repaint", what does that mean?

 
Eka Rudianto #: when you mentioned "doesn't repaint", what does that mean?

"Repainting" means that the current bar calculations re-adjusts previous bars' indicator values. Most ZigZag indicators "repaint", some more than others.

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