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This swing high low extension indicator works the same way as my Swing High Low extension indicator on other platforms such as TOS and Tradingview.
The Swing high low extension indicator will plot lines that represent the swing high low points based on the swing strength 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.
Features and inputs:
There are 4 built-in alert types.
You need to enable the alert from the settings.
Whenever an alert is triggered, a pop-up message will show up on the right bottom corner like this:
Click an image to view at full size.
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