Swing high low support & resistance

2016年10月25日

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.

2018年12月18日

發行說明

Update the title of plot, it's easier to set custom alert now.

2018年12月22日

發行說明

Minor update

2020年5月14日

發行說明

Upgrade to Ver 4.

2023年10月30日

發行說明

Add 2 new inputs as the source date of Swing high and low.
Now we can use open/high/low/close/hl2/hlc3/ohlc4/hlcc4 to get Swing high and low.