U-Turn

study("U-Turn", overlay=false)

Strength = input(title="Strength", type=integer, defval=4)

SwingHighPos = abs(round(highestbars(high, (Strength * 2) + 1)))
SwingHighMet = SwingHighPos == Strength
PivotHigh = SwingHighMet ? high[Strength] : nz(PivotHigh[1])

BuySetup = iff(BuySetup[1] == false,
	SwingHighMet,
	iff(high > PivotHigh[1], false, true))

SwingLowPos = abs(round(lowestbars(low, (Strength * 2) + 1)))
SwingLowMet = SwingLowPos == Strength
PivotLow = SwingLowMet ? low[Strength] : nz(PivotLow[1])

SellSetup = iff(SellSetup[1] == false,
    SwingLowMet,
    iff(low < PivotLow[1], false, true))

ScanValue = iff(nz(BuySetup[1], false) and high > PivotHigh[1] and close < open, -1,
    iff(nz(SellSetup[1], false) and low < PivotLow[1] and close > open, 1, 0))

plot(ScanValue, color=red)