OPEN-SOURCE SCRIPT
Updated Current Swing
The Current Swing indicator automatically identifies the most recent valid Swing High and Swing Low points on a higher timeframe (e.g., 3m) and projects key Fibonacci retracement levels directly onto your lower timeframe chart (e.g., 1m).
Pullback Depth Analysis: Maps out the 0%, 40%, 50%, 60%, and 100% levels of the active swing range to gauge market retracement depth.
Trend Continuation Insight: Helps you instantly assess whether price is holding premium/discount zones or pulling back too deeply, indicating whether a continuation is likely or if the structure is failing.
Sweep Protection: Filters out noise by only plotting confirmed swings that have remained unswept for a customizable period, keeping your chart clean and focused on valid structure.
Pullback Depth Analysis: Maps out the 0%, 40%, 50%, 60%, and 100% levels of the active swing range to gauge market retracement depth.
Trend Continuation Insight: Helps you instantly assess whether price is holding premium/discount zones or pulling back too deeply, indicating whether a continuation is likely or if the structure is failing.
Sweep Protection: Filters out noise by only plotting confirmed swings that have remained unswept for a customizable period, keeping your chart clean and focused on valid structure.
Release Notes
This update introduces zero-lag realtime range expansion, ensuring the 0% and 100% levels dynamically anchor directly to the exact bar where each swing point originates instead of lagging behind.Release Notes
The order of 40% + 60% were corrected. Release Notes
The script was updated to ensure minor internal pivot highs no longer overwrite the major swing high during an ongoing move. Additionally, direction detection was fixed so that 0%, 100%, 40%, and 60% levels automatically flip and align correctly based on whether the market structure is bullish or bearish.Release Notes
This update introduces an ATR-based minimum range filter and longer pivot lookbacks to effectively ignore minor price noise and lock onto true macro market structure swings.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.