Major Swing Levels

swing_lvls

Function Name: swing_lvls

Tags: None

Category: Swing

A Minor Swing Level is defined by a number of lower/higher bars before and after the bar. Hence, a Swing Level can only be found retrospectively. The Major Swing Levels, called Major Resist/Support, determine a trend-break of Minor Swing Levels. Interpretation: Not every Swing Level has a special meaning or should be used for technical analysis, as they may be originate in insecure markets, or too less information. The indicator searches for Swing Levels that are validated by the market. A trend of rising Major Swing Levels indicates a healthy situation and an up-trend in the market, and vice versa a trend of falling MSL.

 

Parameters

nBars

 

Default Value: 2  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

ShowMinorSwingPoints

 

Default Value: 0

 

Type: Boolean

ShowMajorSwingPoints

 

Default Value: -1

 

Type: Boolean

ShowTraderMark

 

Default Value: -1

 

Type: Boolean

ShowTraderBar

 

Default Value: 0

 

Type: Boolean

ShowLine

 

Default Value: -1

 

Type: Boolean