MT5 Swing High Low Indicator
- Indicadores
- Muhammad Shamsuddeen Muhammad
- Versão: 1.0
- Ativações: 5
This indicator plots any and every swing high or swing low on your chart.
A swing high or low candle formation comprises of a minimum of 3 candles whereby the middle candles high/low is the highest or lowest point amongst the three candles.
The direction (bullish/bearish) of the middle candle is irrelevant.
Swings are very useful patterns that can be used to determine market structure as well as potential price reversal points on a chart.
This indicator is derived from the Bill Williams Fractal indicator native to the Metatrader platform, but unlike that one, this requires only 3 candles for the formation to appear, whereas the other requires 5 candles.
Enjoy!!!