OPEN-SOURCE SCRIPT
LTHB & HTLB Zones with Alerts
In price action trading, the Lowest Tick of the Highest Bar (LTHB) and the Highest Tick of the Lowest Bar (HTLB) are important concepts for support/resistance identification, trend exhaustion, and reversal confirmation. Here's what they mean and why they matter:
🔹 Definitions
1. Lowest Tick of the Highest Bar (LTHB):
The lowest price (tick) of the bar (candlestick) with the highest high in a recent price swing.
Significance: It marks the support inside an upward swing. If price breaks below this, it often indicates loss of upward momentum or reversal.
2. Highest Tick of the Lowest Bar (HTLB):
The highest price of the bar with the lowest low in a swing.
Significance: It acts as a resistance inside a downward swing. If price moves above this, it can signal a bullish reversal.
🔸 Why Are They Significant?
Concept LTHB HTLB
Trend Reversal - Break below LTHB → possible bearish reversal Break above HTLB → possible bullish reversal
Swing Confirmation -Holding above LTHB → continuation of uptrend Holding below HTLB → continuation of downtrend
Trap Detection - Stop hunts often occur just below LTHB Stop hunts often occur just above HTLB
Risk Management -Acts as logical stop-loss in long trades Acts as logical stop-loss in short trades
🔸 Uses in Strategy
1. Breakout Traders use these levels as entry triggers.
2. Reversal Traders look for price failing to hold these levels for early reversal signs.
3. Structure-Based Traders use them to confirm higher highs/lower lows.
4. Stop Placement: Tight stops just beyond LTHB/HTLB help manage risk in swing trades.
🔔 How to Set Alerts in TradingView:
Add the script to your chart.
Open the "⚠️ Alerts" tab.
Click "Create Alert".
In the "Condition" dropdown, select one of:
Enter LTHB Zone
Exit LTHB Zone
Enter HTLB Zone
Exit HTLB Zone
Set desired alert frequency (e.g., once per bar or once).
Click Create.
🔹 Definitions
1. Lowest Tick of the Highest Bar (LTHB):
The lowest price (tick) of the bar (candlestick) with the highest high in a recent price swing.
Significance: It marks the support inside an upward swing. If price breaks below this, it often indicates loss of upward momentum or reversal.
2. Highest Tick of the Lowest Bar (HTLB):
The highest price of the bar with the lowest low in a swing.
Significance: It acts as a resistance inside a downward swing. If price moves above this, it can signal a bullish reversal.
🔸 Why Are They Significant?
Concept LTHB HTLB
Trend Reversal - Break below LTHB → possible bearish reversal Break above HTLB → possible bullish reversal
Swing Confirmation -Holding above LTHB → continuation of uptrend Holding below HTLB → continuation of downtrend
Trap Detection - Stop hunts often occur just below LTHB Stop hunts often occur just above HTLB
Risk Management -Acts as logical stop-loss in long trades Acts as logical stop-loss in short trades
🔸 Uses in Strategy
1. Breakout Traders use these levels as entry triggers.
2. Reversal Traders look for price failing to hold these levels for early reversal signs.
3. Structure-Based Traders use them to confirm higher highs/lower lows.
4. Stop Placement: Tight stops just beyond LTHB/HTLB help manage risk in swing trades.
🔔 How to Set Alerts in TradingView:
Add the script to your chart.
Open the "⚠️ Alerts" tab.
Click "Create Alert".
In the "Condition" dropdown, select one of:
Enter LTHB Zone
Exit LTHB Zone
Enter HTLB Zone
Exit HTLB Zone
Set desired alert frequency (e.g., once per bar or once).
Click Create.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.