Swing Failure Zones and Signals [AlgoAlpha]

- 🎨 Bullish/Bearish Color Customization: Easily set the colors for bullish and bearish signals to match your chart preferences.
- 🧹 Mitigated Zone Removal: Option to remove mitigated zones from the chart for a cleaner view.
- 🔍 Range High/Low Lookback: Adjustable lookback period for determining significant highs and lows.
- 🖌 Dynamic Zone Creation: Automatically draws zones based on swing failure criteria.
- 🔔 Alert Conditions: Set alerts for both bullish and bearish swing failure conditions to stay informed without constant monitoring.
Quick Guide to Using the Swing Failure Zones and Signals Indicator
- 🛠 Add the Indicator: Search for "Swing Failure Zones and Signals [AlgoAlpha]" in TradingView's Indicators & Strategies. Customize settings like lookback period, colors, and zone removal options to fit your trading style.
- 📊 Market Analysis: Watch for the appearance of the zones and the directional arrows for potential reversal signals. Use these signals to identify key market entries and exits.
- 🔔 Alerts: Enable alerts for bullish and bearish swing failure conditions to capture trading opportunities without constant chart monitoring.
How it works
The indicator calculates the direction and length of each candle to identify swing failure points by comparing current high and low prices with those from the lookback period. A bullish swing failure is detected when the current low is lower than the previous low and the close is higher than the previous high, while a bearish swing failure occurs when the current high is higher than the previous high and the close is lower than the previous low. Upon detection, the script creates zones on the chart to indicate these failure points and manages them by removing invalidated zones based on the user's settings. Visual signals are plotted on the chart as arrows, and alerts are set for these conditions to help traders capture potential entry opportunities efficiently.
Enhance your trading edge with this robust tool designed to spotlight critical swing failure points in the market! 💪📈
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
Code: ALPH4
🚨Get premium: algoalpha.io
🛜Get FREE signals: discord.gg/xCmqTVRexz
❓Do you have feedback or indicator ideas? Join our server to tell us about it!
Declinazione di responsabilità
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
Code: ALPH4
🚨Get premium: algoalpha.io
🛜Get FREE signals: discord.gg/xCmqTVRexz
❓Do you have feedback or indicator ideas? Join our server to tell us about it!