OPEN-SOURCE SCRIPT

Highs, Lows, BOS, and Reversals

//version=5
indicator("Highs, Lows, BOS, and Reversals", overlay=true)

// User Input
length = input.int(10, minval=1, title="Length")
bosThreshold = input.float(0.5, title="BOS Threshold (%)") / 100 // BOS threshold percentage

// Highs and Lows Calculation
highestHigh = ta.highest(high, length)
lowestLow = ta.lowest(low, length)

// Plotting Highs and Lows as Lines
plot(highestHigh, color=color.red, linewidth=2, title="Highest High")
plot(lowestLow, color=color.green, linewidth=2, title="Lowest Low")

// Detecting Break of Structure (BOS)
var float previousHigh = na
var float previousLow = na
var bool bosUp = false
var bool bosDown = false

if (not na(previousHigh) and high > previousHigh)
bosUp := true
if (not na(previousLow) and low < previousLow)
bosDown := true

// BOS Conditions and Plotting
bosUpCondition = bosUp and high > previousHigh
bosDownCondition = bosDown and low < previousLow

plotshape(bosUpCondition, location=location.abovebar, color=color.blue, style=shape.labelup, title="BOS Up")
plotshape(bosDownCondition, location=location.belowbar, color=color.orange, style=shape.labeldown, title="BOS Down")

// Reversal Condition (Potential Reversal after BOS)
reversalUp = bosUpCondition and close > highestHigh
reversalDown = bosDownCondition and close < lowestLow

plotshape(reversalUp, location=location.abovebar, color=color.green, style=shape.labelup, title="Reversal Up")
plotshape(reversalDown, location=location.belowbar, color=color.red, style=shape.labeldown, title="Reversal Down")

// Store High and Low for Next Bar
previousHigh := highestHigh
previousLow := lowestLow

// Optional: Plot lines to visualize the highs and lows (for better clarity)
plotlineHigh = line.new(bar_index[length], highestHigh, bar_index, highestHigh, color=color.red, width=1, style=line.style_dotted)
plotlineLow = line.new(bar_index[length], lowestLow, bar_index, lowestLow, color=color.green, width=1, style=line.style_dotted)
Chart patterns

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