Pivot Points High Low: Swing Labels on Gold

What it shows

Price labels on the main chart: one above every swing high and one below every swing low, each carrying the price of that high or low. No line joins them. Because a swing needs candles on its right to be confirmed, the newest labels trail the latest price by the right-hand length.

How Pravex works it out

1. A candle is a swing high when its high is above the highs of the previous left-hand candles (strictly above, a tie breaks it) and at least as high as the highs of the next right candles (a tie is allowed here).
2. A swing low is the mirror image: its low is below the previous left lows and at most equal to the next right lows. Highs and lows each have their own left and right length, 10 and 10 by default.
3. A candle needs room on both sides, so the first lengths on the chart and the last right candles can never be swings. A candle with no valid value around it is skipped.
4. Each swing gets a label with its price, rounded to the chart’s price decimals, drawn on the swing candle.

Settings

Setting	Default	What changing it does
Swing high width (candles)	10 on the left, 10 on the right	The first number is how many candles before a swing high must have lower highs. The second is how many candles after it must stay at or below it before the label is drawn, which is also how many candles late the label arrives. Larger numbers pick only bigger, slower swings.
Swing low width (candles)	10 on the left, 10 on the right	The same pair for swing lows: candles before must have higher lows, and candles after must stay at or above it. The second number is again the delay before the label shows.

How traders read it

Traders use the labels as a map of recent structure: the last labelled high and low are the nearest prices where the market turned, so they are common places to put stops or look for a break. A higher labelled low followed by a higher labelled high reads as an uptrend, and the reverse as a downtrend.

Made-up labels make it concrete: the last labelled low is 95 and the last labelled high is 105. A move above 105 breaks the structure upward, and one below 95 breaks it down. The labels do not tell you which will come first.

When it misleads

Every label arrives late. With the default 10 on the right, a swing high is only marked ten candles after it formed, so a label is history, not a call. The newest candle can still change a label until it closes. Small lengths mark almost every wiggle on gold; large ones skip real turns. In a steady trend with no pullback there are no swings to mark, and a long flat stretch with identical highs marks none because a tie on the left cancels a swing.

Questions and answers

What do Pivot Points High Low show?

Swing highs and swing lows, as price labels. A swing is a candle whose high or low stands out from the candles on both sides.

Are these the same as daily pivot points?

No. Daily pivot points are levels worked out from a day’s high, low and close. These are turning points found in the candles themselves.

Why does a label show up ten candles after the swing?

A swing is only confirmed once the right-hand candles have closed without beating it, so with the default of 10 the label comes ten candles late. Shorten the right-hand length to get it sooner.

What lengths work best?

There is no best pair. Shorter lengths such as 3 to 5 follow minor swings and give many labels, while the default 10 gives fewer, clearer ones. Try them on the timeframe you trade.

Related: Williams Fractals, Pivot Points Standard, Gaps, every indicator.