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PATSwing

This indicator is useful for Price Action traders.

Simply recognize valid swing high/low from noise to determine market status (uptrend, downtrend, range market).

If the market is uptrend and the last swing low breaks and the market accepts the new level, then the uptrend is terminated and the market status converts into the range market or the downtrend.

If the market is downtrend and last swing high breaks and the market accepts the new level, then the downtrend is terminated and the market status converts into the range market or the uptrend.

This indicator is very simple and has no inputs.


Attention

  1. In the demo version, the last 70 candles are not calculated.
  2. Consider that up and down arrows display swing high and swing low rather than direction of a trend.

Enjoy trading!

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Version 1.2 - 2017.01.17
- improve swing recognizing
Version 1.1 - 2017.01.10
-remove demo limit
-fix repaint