The Equal Highs/Lows indicator ports the LuxAlgo SMC EQH/EQL detection.
At each short pivot it compares the new pivot level to the prior pivot
of the same kind; if they sit within threshold * ATR of each other
they are flagged as equal - a liquidity pool that price often returns to
sweep.
Condition
equal_level_formed fires on the bar an equal high or equal low is
confirmed. Pick the side:
- Equal High (EQH) - resting liquidity above price.
- Equal Low (EQL) - resting liquidity below price.
Typical use
Use an EQH as a liquidity target: expect price to be drawn toward the equal highs to sweep stops before reversing. Combine with a CHoCH after the sweep for a reversal entry.