- Displays indicated tops & valleys on the chart.
- Shapes can be changed to squares or any other amibroker shape through the parameter window.
- The smaller shapes are generated 2 bars after a top or bottom is detected.
This is possible because of a different algorithm than the one used with the swing charts.
- Fractals can be used to display potential support and resistance levels.
- Scanning for entries at support or breakouts is also possible.
- The shapes can be used for moving a trailing stop along previous support and resistance levels.
- Can be useful to view and count waves.
- The swing chart with the large shapes uses percentage change calculation to detect potential tops and valleys. Typically there is a delay before these shapes are displayed (because of the algorithm), therefore backtests are not possible and only current(last bar) signals can be used for trading.
- Additionally the close price can be selected instead High & Low to draw and detect trendlines.
- Audio and email alerts are available.
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