Swing Top / Bottom Finder
An effective way of finding swing tops and bottoms on a chart.
This indicator detects both, history-tested and potential swing highs and lows. It does so by comparing current high or low with the last X candles into history and if it finds at least Y candles with a high/low at the approximately same price level, it will mark this high/low on a chart.
This indicator is not based off any values that change over time with market, such as RSI, MACD or any other linear lagging indicators. Instead, it uses Price Action to calculate where a high/low is probable.
Every option has an explanation tooltip that should help you understand what exactly that setting does.
Indicator comes with various alert options, including one to serve them all (choose the "any alert() function call" option for that one).
This indicator detects both, history-tested and potential swing highs and lows. It does so by comparing current high or low with the last X candles into history and if it finds at least Y candles with a high/low at the approximately same price level, it will mark this high/low on a chart.
This indicator is not based off any values that change over time with market, such as RSI, MACD or any other linear lagging indicators. Instead, it uses Price Action to calculate where a high/low is probable.
Every option has an explanation tooltip that should help you understand what exactly that setting does.
Indicator comes with various alert options, including one to serve them all (choose the "any alert() function call" option for that one).
Versionsinformation:
ability to change high/low line visuals