OPEN-SOURCE SCRIPT
Swing Oscillator [AstrideUnicorn]
The Swing Oscillator is an indicator that can help you catch small price movements, called swings. Swings are minor trends that occur when price moves between the highs and lows of a trend or range. Because of the short-term nature of swings, a new movement should be identified as soon as possible.
The indicator is based on our original formula, which averages the length of candlestick bodies and compares the result to several thresholds. This allows the algorithm to determine the direction and strength of the price movement.
HOW TO USE
When the indicator is above the zero level and colored green, it means that the price is in an upward swing. When the indicator is below the zero level and colored red, the price is in a downward swing. When the indicator is blue, the price swing is slowing down or the market is moving sideways. The amplitude of the oscillator shows the price volatility.
The indicator is based on our original formula, which averages the length of candlestick bodies and compares the result to several thresholds. This allows the algorithm to determine the direction and strength of the price movement.
HOW TO USE
When the indicator is above the zero level and colored green, it means that the price is in an upward swing. When the indicator is below the zero level and colored red, the price is in a downward swing. When the indicator is blue, the price swing is slowing down or the market is moving sideways. The amplitude of the oscillator shows the price volatility.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Our premium trading indicators: unicorn.trading
Join our Discord community: dsc.gg/unicom
Join our Discord community: dsc.gg/unicom
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Our premium trading indicators: unicorn.trading
Join our Discord community: dsc.gg/unicom
Join our Discord community: dsc.gg/unicom
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.