Swing Index Indicator for MT5 Download – Free – [TradingFinder]

The Swing Index Indicator is designed to analyze market behavior and evaluate the intensity of price movements.

Based on a composite calculation of price data such as open, close, high, and low, this trading tool aims to provide an accurate view of realpriceshifts.

The output appears on the chart as colored bars, representing the market's strength and potential direction of price movements.

Swing Index Oscillator Specifications Table

The specifications of the Swing Index Oscillator are listed in the table below.

Bullish Trend Analysis

On the 1-hour Polkadot (DOT) chart, the consecutive rise of green histogram bars above the dashed line indicates a strengthening upward momentum in the market.

This increase in momentum and a price trend reversal are interpreted as a confirming signal for the start of a bullish phase.

Bearish Trend Analysis

Based on the 30-minute Silver to US Dollar (XAG/USD) chart, strong red histogram bars suggest a weakening bullish trend and a potential market reversal.

In this context, bars above the dashed line may be an early warning for entering short positions.

Swing Index Indicator Settings

The image below shows the settings of the Swing Index Indicator:

• Calculation Period: Index calculation period
• Signal Line: Signal line calculation
• Mode High/Low: Calculation based on high and low prices
• Alerts ON: Enable alert notifications
• Alert Sound ON: Enable sound alerts
• Alert Email ON: Enable email alerts
• Lookback: Number of past candles to analyze

Conclusion

The Swing Index Oscillator facilitates the identification of market direction and trend strength by accurately analyzing price fluctuations.

Using this tool, traders can determine suitable trade entry and exit points and significantly reduce risk levels.

This indicator is often used in technical analysis with other tools such as moving averages, various types of MACD indicators, and Bollinger Bands.