Bounce Indicator

This is a leading indicator based on price action only which identifies Swing Highs and Swing Lows as per their classic definition.

• Green Triangle under a candle is a Swing Low.

• Red Triangle above a candle is a Swing High.

• Violet color candle is Inside Bar.

• Blue color candle is Outside Bar.

The horizontal black lines on each Swing Highs and Swing Lows make the Swing Chart.
Connecting the Swing Highs and Swing Lows gives us our Bounce Indicator.