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The Swing high low extension indicator will plot lines that represent the swing high low 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.
This package includes swing high low extension indicator, scan and screener(custom watchlist column). It works on any time frame(Tick, Minutes, Daily, Weekly, Monthly) and all markets(Stocks, Futures, Forex, Options, ETF, etc.)
The default SCAN will search in the following conditions:
You will be able to choose the scan type from the Editor.
The default screener(custom watchlist column) will show labels in the following conditions:
We can also customize it to meet your specific requirement.
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