Patternsmart

Swing high low support & resistance, by Patternsmart.com

The Swing indicator will plot dot lines that represent the swing 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.

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// Technical Analysis & Research Patternsmart.com
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// Custom indicators, Strategies, SCAN, Screener, Backtesting, Converting service for:
// Tradingview, NinjaTrader, Thinkorswim, MetaTrader, MetaStock, Multicharts, Prorealtime, etc.
//
// If you want to customise this indicator, please contact us.
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Does this repaint?
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Patternsmart BradleyJo
@BradleyJo, The swing point is fixed, so it should not repaint.
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Patternsmart, Do you have this code in MT4?
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Patternsmart NguyenUnlimited
@NguyenUnlimited, Yes, I also have it on Prorealtime and Thinkorswim.
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@Patternsmart, I have LMFX as my broker. Is it possible for me to get the MT4 Code and install it to my MT4 Platform?
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@Patternsmart, Amazing indicator by the way Patternsmart
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Delmartin Patternsmart
@Patternsmart, How to get it for MT4?
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I am kinda new to TradingView and trading in general. I see that this can be a really neat trick that will paint show me the points really quick. I just don't know how I can leverage into onto my chart, since there is no source code. I guess my question is, if you can't copy the code into the pinescript editor... then how to do you enable it onto your chart?
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This Looks a Little to Good to be true, ja it possible to gerade realtime using those support and Resistance lines?
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hermion.nuru hermion.nuru
@hermion.nuru,* is it possible to trade realtime using this Script?
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Patternsmart hermion.nuru
@hermion.nuru, It's a good indicator, but It's just a swing high/low extension lines, nothing special at all. Why do you think it's too Good to be true? Which part is too good ?
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hermion.nuru Patternsmart
@Patternsmart, using it in order to trade s&r
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hermion.nuru hermion.nuru
@hermion.nuru for example trading binary options in combination with breakouts offers high probability
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Patternsmart hermion.nuru
@hermion.nuru, Then why it's too good to be true?
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