TradingView
Patternsmart
25 oct. 2016 14:12

Swing high low support & resistance 

FX:USDCAD60
U.S. Dollar/Canadian DollarFXCM

Description

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The Swing indicator will plot dot lines that represent the swing 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.

Notes de version

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Update the title of plot, it's easier to set custom alert now.

Notes de version

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Minor update

Notes de version

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Upgrade to Ver 4.

Notes de version

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Add 2 new inputs as the source date of Swing high and low.
Now we can use open/high/low/close/hl2/hlc3/ohlc4/hlcc4 to get Swing high and low.
Support and ResistanceswinghighLOWsupport
Commentaires
ora89
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Hi there, thank you for sharing this. I would like to ask, what would you think is the best Swing Length value when day trading support and resistance? I'm looking at 15m or 30m charts.

Looking forward to hearing back from you.
Best.
ghattas360
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@ora89, 50 on 30 min
Mandar_G
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@ora89, 15
beavis
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//@version=2
study("Core Pivot",shorttitle="CPIVOT", overlay=true)

leftBars = input(6)
rightBars = input(6)

running_ph = running_ph[1]
running_pl = running_pl[1]

ph = pivothigh(leftBars, rightBars)
pl = pivotlow( leftBars, rightBars)

if (ph)
running_ph := ph

if (pl)
running_pl := pl

plot(running_ph, style=cross, linewidth=1, color= blue, offset=-rightBars)
plot(running_ph, style=cross, linewidth=1, color= blue, offset=0)
plot(running_pl, style=cross, linewidth=1, color= red, offset=-rightBars)
plot(running_pl, style=cross, linewidth=1, color= red, offset=0)
Cashtagpat
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@beavis, how do i get this to work? Please when i copy and paste the code in pine it gives bunch of errors:( need this badly to enable alerts. Will tip btc for working script that i can set alerts on.
djmad
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@Cashtagpat,

not forget the tabulators line below the if conditions

//@version=5
indicator("Core Pivot",shorttitle="CPIVOT", overlay=true)

leftBars = input(6)
rightBars = input(6)

var float running_ph = na
var float running_pl = na

running_ph := running_ph
running_pl := running_pl

ph = ta.pivothigh(leftBars, rightBars)
pl = ta.pivotlow(leftBars, rightBars)

if (ph)
running_ph := ph

if (pl)
running_pl := pl

plot(running_ph, style=plot.style_cross, linewidth=1, color= color.blue, offset=-rightBars)
plot(running_ph, style=plot.style_cross, linewidth=1, color= color.blue, offset=0)
plot(running_pl, style=plot.style_cross, linewidth=1, color= color.red, offset=-rightBars)
plot(running_pl, style=plot.style_cross, linewidth=1, color= color.red, offset=0)
MR_IRVINGSANTIAGO-TRADERSCLUB
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@djmad, thank you so much
RealDOGE2022
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@MR_IRVINGSANTIAGO-TRADERSCLUB,running_pl := pl do not work
RNavega
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@RealDOGE2022, try this shorter version:

// @version=5
indicator("Core Pivot",shorttitle="CPIVOT", overlay=true)

leftBars = input.int(6, "Left Bars", minval=1)
rightBars = input.int(6, "Right Bars", minval=1)

ph = fixnan(ta.pivothigh(leftBars, rightBars))
pl = fixnan(ta.pivotlow(leftBars, rightBars))

plot(ph, style=plot.style_cross, linewidth=1, color= color.blue, offset=-rightBars)
plot(ph, style=plot.style_cross, linewidth=1, color= color.blue, offset=0)
plot(pl, style=plot.style_cross, linewidth=1, color= color.red, offset=-rightBars)
plot(pl, style=plot.style_cross, linewidth=1, color= color.red, offset=0)
aljustun
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@RNavega, can you combine 3 indicators into 1 indicator?
Plus