Gann Swing Detector
This indicator builds one-bar, two-bar and three-bar Gann's swings, which are an excellent tool to get rid of noise and more clearly see the movement of the market.
works on any timeframe, in addition, it allows you to build swings
from one timeframe on another, which makes it possible to conduct a
deeper analysis of the market.
Settings (the default values are given in brackets):
- Number of bars (two) — define one-bar, two-bar or three-bar swings to draw.
- Modification for external bars (on closing) — define the behavior on the external bars (that is, on bars, with the High being higher than the High of the previous one, and the Low being lower than the Low of the previous one). "On first breakout" takes into account what was reached before: high or low, and "on closing" takes into account the closing price relative to the opening price. For new bars, "on first breakout" will redraw the current swing every tick, and "on closing" will redraw only after closing the new bar.
- Bar history (1000) — how many bars from the history for the chosen timeframe will be drawn swings.
- Time frame (current) — by what timeframe swing will be built.
- Up line color (maroon) — color of the up swing.
- Down line color (teal) — color of the down swing.
- Line width (2) — width of the lines.