Hey fellow traders! Let’s dive into the concept of swing highs and lows, a key part of technical analysis in trading.
What is a Swing High?
A swing high is identified when a price peak has two preceding highs (indicating an upward trend) and two succeeding highs (showing a downward trend). In simpler terms, it’s like the top of a hill that you climb up before heading back down.
What is a Swing Low?
Conversely, a swing low occurs when there are two preceding lows (where prices are dropping) and two succeeding lows (where prices start to rise). Think of this as the bottom of a valley that you come down into before climbing back up.
Customizing Your Indicator
If you want to tweak the appearance of your indicator, you can change the color of the buffer directly from the code. To find a color that suits your style, check out the Webcolors guide.
#property indicator_colors 
Understanding these swing points can really help refine your trading strategy. Happy trading!
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