Relevant Lows

Relevant Low (RL) is a market structure indicator designed to identify and track relevant swing lows based on price action and mitigation logic.

The script detects valid swing lows using a configurable lookback, then follows their evolution through multiple structural states (from formation to validation or invalidation).
A swing low becomes relevant when:

An opposite swing high is formed,

The pullback does not exceed a user-defined mitigation gap,

Price breaks above the opposite swing high.

Once confirmed, the indicator plots a horizontal Relevant Low level on the chart and dynamically extends it until price invalidates it.

Key features:

Configurable swing lookback length

Adjustable mitigation gap threshold

Automatic state-based validation (formation → confirmation → invalidation)

Optional visualization of confirmed Relevant Low levels

This tool is intended for traders focusing on market structure, liquidity, and price validation, and can be used as a support level or contextual bias in discretionary or systematic strategies.