Wizard Swing Detector

Interpret the Indicator
Swing Detection:

Swing highs and lows are identified based on the Swing Length.
Bullish and bearish ranges are derived from these swings.
Trendlines:

Green trendlines represent bullish ranges (average range).
Red trendlines represent bearish ranges (average range).
Bar Highlights:

Green Bars: Close price is above both the bullish order averages.
Red Bars: Close price is below both the bearish order averages.
White Bars: Bars not strongly above/below the order ranges.
Dynamic Table:

Displays averages of bullish and bearish ranges.
Shows whether the current bar is above bullish, below bearish, or neutral.
Alerts:

Labels appear for the first bar above bullish (green), below bearish (red), or neutral (white).
Utilize Alerts for Trading Decisions
Buy Signals:

Bars highlighted in green indicate a potential bullish trend.
Look for confirmation from price action (e.g., breaking resistance) before entering.
Sell Signals:

Bars highlighted in red indicate a potential bearish trend.
Consider selling or shortening if price aligns with a bearish breakout.
Neutral Bars:

Bars highlighted in white suggest indecision or consolidation. Avoid making major trading decisions during these periods.
Combine with Other Indicators
This indicator is not a standalone strategy. It works best when combined with:

Volume Analysis: Ensure ranges signals align with high volume for confirmation.
Trend Indicators: Use moving averages, RSI, or MACD to confirm overall market direction.
Support/Resistance: Validate ranges locations with key support and resistance levels.
Customize for Specific Strategies
Adjust Swing Length and Max ATR Multiplier to match your trading style (e.g., scalping vs. swing trading).
Use table data to monitor average ranges levels for dynamic stop loss and take profit placement.
Alerts and Automation
Enable alerts for green and red bars to get notifications in real time.

"Disclaimer: This indicator is intended for educational purposes only and does not constitute financial advice. Trading involves significant risk, and users should perform their own research and consult with a licensed financial advisor before making any trading decisions."