Equal Highs and Lows with Relative [CantoLab]

What it does

This indicator tracks swing highs and lows and flags when price returns to touch a prior swing within a configurable tick tolerance — a classic "equal highs / equal lows" liquidity concept, extended to also mark near-misses as "relative" levels.

When a new touch lands on the exact same price as the original swing, it's labelled EQH (Equal High) / EQL (Equal Low). When the touch is close but not identical (within your tolerance setting), it's labelled REH (Relative High) / REL (Relative Low) instead.

Merging

If price keeps retesting the same level across multiple swings in succession, the indicator merges those touches into a single continuous line rather than drawing overlapping duplicates — so one clean line represents the full history of a level being retested, extending forward each time it's touched again.

Sweep detection

Once price moves decisively through a level (beyond the tolerance band), that level is marked as swept:

visuals:

A dashed/dotted line extends from the level out to the sweeping candle
An "✖" mark is plotted above/below the candle that swept it
The original EQH/EQL line itself is left untouched by default, so you can still see where the level was

Settings

Tolerance (Ticks) — how close a touch needs to be to count as equal/relative
Minimum Bars Before EQ Check — how many bars must pass after a swing forms before it's eligible to be matched
Labels — size and font for the EQH/EQL/REH/REL text
Color — single color control for all equal/relative lines and labels
Line Width / Style — for the main EQH/EQL/REH/REL lines
Sweep Line Width / Style — separate control for the sweep indicator line (default: dotted)
Show Swept EQ/RE Lines — toggle whether swept levels (and their sweep markers) stay visible or get hidden once swept

Notes

Designed as a visual liquidity-mapping tool, not a standalone signal generator
Works on any symbol/timeframe; tolerance should be tuned to the instrument's typical tick size and volatility
This indicator does not provide financial advice. You are responsible for how you interpret and act on the levels it plots.

Sürüm Notları

Show Swept EQ/RE Lines false by default to make it look cleaner

Sürüm Notları

adjusted tolerance from 4ticks -> 16 ticks for identifying Relative Equal Highs and Lows

Açık kaynak kodlu komut dosyası

Gerçek TradingView ruhuyla, bu komut dosyasının mimarı, yatırımcıların işlevselliğini inceleyip doğrulayabilmesi için onu açık kaynaklı hale getirdi. Yazarı tebrik ederiz! Ücretsiz olarak kullanabilseniz de, kodu yeniden yayınlamanın Topluluk Kurallarımıza tabi olduğunu unutmayın.

CantoLab

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.

Açık kaynak kodlu komut dosyası

CantoLab

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