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.
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// If you want to customise this indicator, please contact us.
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Dec 18
Release Notes: Update the title of plot, it's easier to set custom alert now.
Dec 22
Release Notes: Minor update
Remove from Favorite Scripts Add to Favorite Scripts
Any chance i could have access to code to change some lines and colours. thanks
+4 Reply
How and I can get access to it if possible . Was using it for awhile then notice some difference ...
+24 Reply
Sir please allow indicator
+3 Reply
I liked more to be able to configure the color to my preference.
Reply
@ortiemm, I agree. Being able to change color and set as a line instead of dots was much better. Please change it back.
Reply
ortiemm lucky0309
@lucky0309, Totally agree!!
Reply
MarkUK ortiemm
@ortiemm, I also have to agree too. I use a black background and find it hard to see the blue color now -- much better before when custom colors could be used.
Reply
ortiemm MarkUK
@MarkUK, I prefer black too, by far.
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Thanks for this wonderful indicator. Would you please ass the 10 EMA to it. That would make it perfect for me,
+1 Reply
Cryptoflyke Cryptoflyke
@Cryptoflyke, I mean add* the 10 EMA indicator
+7 Reply
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