Swing High Low indicator and screener for MultiCharts

This is a customized MultiCharts indicator, it works the same way as my Swing High Low extension indicator and screener on other platforms such as TOS and Tradingview.



The Swing high low extension indicator will plot lines that represent the swing high low points based on the swing strength input(number of bars to the left and right of the swing point).

Swing highs and lows can be used by traders to identify possible areas of support and resistance, which can then be used to determine optimal positions for stop-loss or profit target orders. If an indicator fails to create a new swing high while the price of the security does reach a new high, there is a divergence between price and indicator, which could be a signal that the trend is reversing.

Swing highs and swing lows are earlier market turning points. Hence, they are natural choices for projecting support and resistance levels. Every swing point is a potential support or resistance level. However, for effective trading, focus on major swing highs and lows.

This package includes Swing high low extension indicator and screener for MultiCharts. It works on any time frame(Tick, Minutes, Daily, Weekly, Monthly) and all markets(Stocks, Futures, Forex, Options, ETF, etc.)


Features and inputs:

• Using different value for swing high strength and swing low strength.
  strength is the minimum number of bars to the left and right side of the swing point.
• Using  different color for swing high and swing low extension lines.

There are 4 built-in alert types.

1. Close price Cross Above Swing high.
2. Close price Cross Below Swing low.
3. Close price Cross Below Swing high.
4. Close price Cross Above Swing low.

You need to enable the alert from the settings.



Whenever an alert is triggered, a pop up message will show up on right bottom corner like this:







The swing High Low screener is a standalone file, make sure you don't insert the Swing High Low indicator in screener.

The screener has 3 inputs as shown in below:


 
The default screener will display the following conditions:

1. Close crosses below the swing low.
2. Close crosses below the swing high.
3. Close crosses above the swing high.
4. Close crosses above the swing high.
5. Close is above the swing high.
6. Close is below the swing low.
7. Close is between swing high and low.

It can be applied more than once with different input you choose.







The screener also comes with 4 built-in alert types.

1. Close price Cross Above Swing high.
2. Close price Cross Below Swing low.
3. Close price Cross Below Swing high.
4. Close price Cross Above Swing low.

You need to enable the alert from the settings.










Whenever an alert is triggered, a pop up message will show up on right bottom corner like this:









Click an image to view at full size.