The swing indicator is a standard Ninja indicator that plots swing highs and swing lows. These are very useful for marking strong swing points for swing trades. It can also be used for a point to put your stop. The screenshot below illustrates how the swing indicator plots…as a line of dots, green for high and orange for low.
I’ve had this indicator on my charts lately and do find it helpful. There are a few things that I’ve noticed that others may find useful:
You can make the price markers show up similar to other indicators. You can find the price level manually of course but it’s handy if placing an entry order to just glance at the marker and + / - the ticks you need. It shows the most recent swing levels if they haven’t been broken. I did turn off the markers on my other indicators so I could tell what was what.
You can change the size of the dots. I made mine smaller to help keep the chart a bit cleaner.
The strength parameter determines what is considered a swing bar. The default is set to 5 which means that a swing high was higher than the previous 5 bars as well as the next 5 bars.
This topic was automatically closed after 4 days. New replies are no longer allowed.