Swing High/Low Indicator w/ MACD and EMA Confirmations by KaizenTraderB
I designed this indicator to be used with a market structure break strategy. It labels swing highs and lows that are confirmed by the MACD. It also displays a higher timeframe Fast and Slow EMA to determine directional bias. Also provides alerts that signal Swing Low breaks in downtrends and Swing High Breaks in uptrends. It draws a horizontal line on the last Swing High and Low.
Display this indicator on your entry timeframe and choose your Higher Timeframe in settings. You can also change lookback period for Swing Highs and Lows and EMA's.
When I use this I am looking for the Swing High/Low break in direction of HTF Trend Then look for pullback between price level of break and areas of liquidity (wicks, order blocks, price congestion) for entry in direction of EMA trend.
Sürüm Notları
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- Alert Fix
Sürüm Notları
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- Bug Fix - Alert Fix - Improved Higher Time Frame EMA's to eliminate repainting and gaps - Used for Higher Time Frame Directional Bias - Added Color to most Recent Swing High and Low lines to indicate preferred direction of trade based on HigherTimeFrame Directional Bias - In direction of Green
I love this to use as support and resistance on my 5 Min strategy l..can also use it for Profit targets and entries. Great indicator
SuzyKay6M
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Hi, thank you for this indicator. How long does it take for one of the inputs to appear? Is it by a certain amount of candlesticks? Thanks again!
KaizenTraderB
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@SuzyKay6M, The Swing Highs and Lows are calculated with a setting you can set that determines how many bars back and how many bars forward to use to determine if it is in fact a swing high or low. The default is 5. So, with this setting, for example, for a candle to be a swing high it must have five candles before it and after it that have highs lower than the candle in question. So in this case, it would take 5 candles after the candle before it would be determined to be a swing high. You can set it to 1 and then it will only look 1 candle before and after the current candle. The more bars in the lookback the more accurate. Does this make sense?