Equal Highs and Lows with Relative [CantoLab] — Indicator by CantoLab — TradingView

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.