PST.I-SWING
Disclaimer: Titles and notes intended to give a general idea of a trading concept or analysis tool. You are solely responsible for the results of the trading approach or strategy that you use.
A Swing point indicates strong price reversal chart pattern. This indicator plots swing high above the moving average and swing low below the moving average. Combined with moving average, you can control the location of the swing, which allows you to focus on strong swing moves by filtering out weaker swings.
With PST.I-SWING, you can plot lines at the top of the swing high and at the bottom of the swing low. The length of the plotted line uses the RightStrength parameter.
PST.I-Swing comes with following parameters, with certain default values. When using it, play with different values of the parameters on your charts, and see what you see. You find strong reversal, and filter our weak ones.
|
Name |
Expression |
Default Value |
Description |
| Avg_Len | Numeric |
30 |
Length of periods for moving average. |
| LeftStrength | Numeric | 3 | Sets the required number of bar before the swing point. |
| RightStrength | Numeric |
30 |
Sets the required number of bar after the swing point. |
| Swing_Low | Numeric |
0 |
0 value indicates that you want low swing plotted. Any other value will not plot swing low. |
| Swing_High | Numeric |
0 |
0 value indicates that you want high swing plotted. Any other value will not plot swing high. |
| color_swingHigh | String |
Magenta |
Color of the indicator for swing high. |
| color_swingLow | Numeric |
Cyan |
Color of the indicator for swing Low. |