PROTECTED SOURCE SCRIPT
Single Swing Low
🎯 Summary of Indicator: Single Swing Low
📌 Purpose of Indicator
✅ Find the Swing Low point that is the lowest point of the price
✅ Used to analyze the support level to see the market's turning point
✅ Suitable for traders who use Price Action and trend analysis
⚙ How does the Indicator work
🔹 What is Swing Low?
👉 The lowest point that occurs when the price goes down and recovers
👉 Calculated from 5 candlesticks, left (leftBars) and right (rightBars)
🔹 Swing Low calculation
📌 The indicator uses the function ta.pivotlow(low, leftBars, rightBars)
📌 When the lowest point of the candlestick (5 left bars & 5 right bars) is found → It is displayed as a yellow line
🔹 Usage
✔️ When you see the Swing Low point → It may be a buying opportunity
✔️ If the price goes back to test the Swing Low and does not break → It may be a strong support level
🚀 This indicator helps traders see the lowest point of the trend and analyze the support level more easily! 🎯📊
This indicator works on
#crypto #forex #gold and all assets.
📌 Purpose of Indicator
✅ Find the Swing Low point that is the lowest point of the price
✅ Used to analyze the support level to see the market's turning point
✅ Suitable for traders who use Price Action and trend analysis
⚙ How does the Indicator work
🔹 What is Swing Low?
👉 The lowest point that occurs when the price goes down and recovers
👉 Calculated from 5 candlesticks, left (leftBars) and right (rightBars)
🔹 Swing Low calculation
📌 The indicator uses the function ta.pivotlow(low, leftBars, rightBars)
📌 When the lowest point of the candlestick (5 left bars & 5 right bars) is found → It is displayed as a yellow line
🔹 Usage
✔️ When you see the Swing Low point → It may be a buying opportunity
✔️ If the price goes back to test the Swing Low and does not break → It may be a strong support level
🚀 This indicator helps traders see the lowest point of the trend and analyze the support level more easily! 🎯📊
This indicator works on
#crypto #forex #gold and all assets.
Script protegido
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script protegido
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.