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Pivot Indicator



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Dear List,


Has anyone seen an indicator for finding swing highs and lows based on 
price instead of time?    The standard EasyLanguage way to find a swing 
pivot is to wait until a specified number of bars have formed on each 
side of the pivot.  This simply is not effective when the market makes a 
quick spike top or bottom.  I believe a better answer is a pivot 
indicator based on percent retracement.  Has anyone else worked on this 
idea?



Regards
Patrick.