The indicator consists of marking the most important swings, either high or low. So you can analyze how the price interacts in the future with these values.
The original code belongs to another author. I added the possibility to filter swings between dates, this way only the swings we are interested in between those dates are marked.
Is this an intelligent drawing tool, Sir? Does that mean it automatically draws support and resistance based on past significant prices? Can it be installed on MT5? I am a day trader. Is your plugin applicable to any time cycle? thank you
Yes!
It marks the supports and resistances automatically.
I don't know how to switch this script to MT4 or MT5.
davidmavenaji
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@Che_Trader, it just like using the supply and demand tactics
davidmavenaji
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@Che_Trader, it is an exe4 file for mt4,requires a compleir as well to run on mt4
azinc
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Hello!, Can anybody explain me this part of the code?
" p = nz(src[len]) //is this the close of len (period)? or 0?
isFound = true
for i = 0 to len * 2 //len =20¿?
if isHigh and src > p
isFound := false
if not isHigh and src < p
isFound := false "
Thanks
david03kimo
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Great indicator.I use it to replace manual drawing R/S to save a lot time especially many markets to review.I use 4 screens to show 5m,1h,D,W and entry by 5m.Is it possible to show Swing High/Low line not only 5m but also 1H,D,W at 5m chart concurrently.Or can check/uncheck to decide whether overlap.Just a thought to share.
Che_Trader
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@david03kimo, it's a great idea!
Definitely it improve the indicator.
When I have time I will do some of that without a doubt. These days I'm pretty busy with my swing trade btc strategy
david03kimo
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@Che_Trader, Ya,Great to hear that.And I trade BTC,too.Thanks for your sharing.
IrelMattola
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@Che_Trader, excellent. thank you very much to create this script. it's save a lot of times to draw SR line manually. Waiting for Improvement of the script as @david03kimo mention. Great tools to do price action analysis.