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HIGH-LOW

Swing high low support & resistanceThe 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.
Pine Script™ indicator
by Patternsmart
264
High-Low Difference Channels r2About: I developed the original as an experiment to potentially replace or augment my BB and RSI based strategies. After some back-testing I could see some really interesting results but it wasn't quite where I wanted it, so after some tweaking and further back-testing, and adding in more MA options, here we are. Mostly tested on 1h and greater time-frames using default settings. Description / Usage: Adjust length and multiplier much the same way you would expect with Bollinger Bands. Multiplier of 1 gives you a base channel consisting of one high, and one low sourced MA The outer channels are increments of the base high-low channel width, away from the hl2 sourced MA r2 Changes: Increased amount of up/down channels to 5, and lowered multiplier default to 1 (previously 1.5) Tweaked default colour scheme. Pick your MA poison of choice! Added choices for all your common MA variants. Issues: VWMA bugs out and refuses to draw sometimes - no idea why. Additional Notes: All MA variants available in this script were derived directly from the sources of those available within the pine editor. I have been fairly diligent trying to ensure they all function correctly, but I can't 100% guarantee it, so if anyone gives the script a try, or dives into the code and see's something odd - don't hesitate to let me know! It would also be fantastic to hear feedback from anyone who finds use for this, to augment an existing strategy/idea, or develop something new. :)
Pine Script™ indicator
by JayRogers
2
High-Low Difference Channels - SMA/EMAI wrote this up as a potential replacement for my BB based strategies, and so far it's looking pretty nice. Description / Usage: Adjust length and multiplier much the same way you would expect with Bollinger Bands. Multiplier of 1 gives you a base channel consisting of one high, and one low sourced SMA (or EMA) The outer channels are increments of the base channels width, away from the median hl2 sourced SMA (..or EMA)
Pine Script™ indicator
by JayRogers
5