Valid Swing HighLow is an advanced indicator of 2х2 fractals. It differs from the standard one in that each new bar of the fractal is always higher/lower than the previous one.
For the upper fractal: LeftHigh2<LeftHigh1
RightHigh1>RightHigh2 For the lower fractal: LeftLow2>LeftLow1>CenterLow<RightLow1<RightLow2
It has one configurable parameter:
Bar of drawing - the bar for drawing labels
Signal bar - draws labels based on the Open price of the signal bar
Fractal bar - draws labels on the bar and using fractal prices (High/Low)
Fig. 1. Bar of drawing = Fractal bar
Fig. 2. Bar of drawing = Signal bar