Swing Points [CrossTrade]

22 thg 8, 2024

The "Swing Points" indicator is designed to help identify key swing points, trends, and potential support and resistance areas on a trading chart. This indicator overlays on the price chart and offers several features for enhanced market analysis.

Swing Point Identification: The indicator identifies swing highs and lows (pivot points) over a user-defined period. These points are crucial in understanding market reversals and momentum.

Swing Points Display: Users have the option to visually display these pivot points on the chart. Swing highs are marked with a red "H" above the bar, and swing lows with a green "L" below the bar, aiding in quick visual identification.

Center Line Calculation and Display: A dynamic center line is calculated using the pivot points, providing a baseline that adapts to market movements. The center line's appearance changes based on its position relative to the current price, making it a useful trend indicator.

Support and Resistance Levels: The indicator plots horizontal support and resistance lines based on the swing lows and highs, respectively. This feature helps traders identify potential areas of price consolidation or breakout.

Customization Options: Users can customize the period for swing point calculation and choose whether to display the pivot points, center line, and support/resistance levels.

Alert Features
Swing High Break Alert: An alert is triggered when a new swing high is detected, signaling a potential upward momentum shift.

Swing Low Break Alert: This alert activates when a new swing low is formed, possibly indicating a downward momentum shift.

Center Line Trend Color Change Alert: Alerts users when the center line changes its trend color, which could signify a change in overall market trend direction.

27 thg 3

Phát hành các Ghi chú

Added bar coloring and alerts for the centerline change.

17 thg 6

Phát hành các Ghi chú

Updated to v6 and added in alertConditions for when the 'new H' and 'new L' get plotted