The Swing high low extension indicator will plot lines that represent the swing high low points based on the swing length input(number of bars to the left and right of the swing point).
Swing highs and lows can be used by traders to identify possible areas of support and resistance , which can then be used to determine optimal positions for stop-loss or profit target orders. If an indicator fails to create a new swing high while the price of the security does reach a new high, there is a divergence between price and indicator, which could be a signal that the trend is reversing.
Swing highs and swing lows are earlier market turning points. Hence, they are natural choices for projecting support and resistance levels. Every swing point is a potential support or resistance level. However, for effective trading, focus on major swing highs and lows.
This package includes Swing high low extension indicator, scan and screener(custom watchlist column). It works on any time frame(Tick, Minutes, Daily, Weekly, Monthly) and all markets(Stocks, Futures, Forex, Options,ETF, etc.)
The default SCAN will search any symbol that the Close cross below the swing low or cross above the swing high.
The default screener(custom watchlist column) will show labels whenever the Close cross below the swing low or cross above the swing high. It can be applied more than once on any time frame you choose.
We can also customize it to meet your specific requirement.
The default screener(custom watchlist column) will show labels whenever the Close cross below the swing low or cross above the swing high. It can be applied more than once on any time frame you choose.
What does the display of this indicator look like? Is there source code for it? Thank you.
Do you have a script that alerts you when a swing low takes out another swing low? Thanks.
I can create one for you.
I would really like this indicator for my Thinkorswim. Can you please send it to me. I would greatly appreciate it 🙂
Thank you,