BOA Swing Levels
- Indicators
- Version: 1.38
BOA Swing Levels finds swing highs and lows on the timeframe you choose and shows where the next breakout can start, where its targets and stop are, and how often such targets were reached on the history of your symbol.
📊 LEVELS
- Levels are found on closed bars of the level timeframe (M15 by default) by a price channel of N bars: a swing ends when the price leaves the channel on the other side, and its extreme becomes a level.
- Active breakout levels: the latest unbroken swing high above the price and the latest unbroken swing low below it, extended to the right and labelled with the price.
- Past levels are drawn up to the bar that broke them, with an arrow at the breakout.
🎯 TARGETS AND STOP
- Every active level gets three take profit targets (TP1, TP2, TP3) and a stop loss, measured in ATR of the level timeframe.
- Filled zones between the level, the targets and the stop, deeper towards the far target; they are drawn under the candles and blend with the chart background.
- The last breakout is tracked from its breakout bar: entry, stop and targets with prices, and which of them were reached.
- Previous breakouts (10 by default) are shown with their result: only the reached zone is filled and labelled TP1, TP2, TP3 or SL.
📈 WIN RATE PANEL
- Every past breakout in the analysed history (2000 bars of the level timeframe by default) is checked on the following closed bars: does the price reach the target or the stop first. A bar that touches both counts as a stop; breakouts without a result are not counted.
- The panel shows the win rate and the number of breakouts for every target, the active levels with distances in points, ATR, spread and the stop size.
- Default settings (stop 2 ATR, targets 1 / 1.5 / 2 ATR) favour a high share of reached targets. A tighter stop with farther targets reaches them less often, but each one is larger: compare both numbers.
- The statistics describe the history of the chosen symbol and settings and are not a forecast. Spread, commission and slippage are not included.
🔔 ALERTS
- Popup, sound and push notification when the price breaks an active level.
🧩 FOR DEVELOPERS
- Two buffers for iCustom: 0 - active level for a breakout up, 1 - for a breakout down (EMPTY_VALUE when there is none).
⚙️ INPUTS
- Level timeframe; channel length; bars for the drawn levels; past levels on each side; broken levels and arrows.
- ATR period; take profit 1, 2, 3 in ATR; stop loss in ATR.
- Targets of the active levels; the last breakout; previous breakouts with results; filled zones and their opacity.
- Win rate: bars of the level timeframe to analyse.
- Chart shift from the right edge; panel and its corner; alerts: popup, sound, push.
- Colours of breakouts up and down, targets, stop and broken levels; active level line width.
📝 NOTES
- Works on any symbol and chart timeframe; levels are built on the timeframe set in the inputs.
- Levels are found on closed bars: a confirmed level does not change afterwards.
- Dark and white chart backgrounds are supported: on a white chart the panel and labels switch to dark text.
- Three-digit gold quotes are converted to points automatically.
- The indicator does not trade and does not open orders.
🤖 An automated trading robot has been developed on the basis of this indicator.
⚠️ Risk warning: trading leveraged products carries a high risk of loss. Statistics on past data do not guarantee future results.
