Intermarket Swing Projection
By LuxAlgoDec 10, 2025
Intermarket Swing Projection is an indicator on Vela, our next-generation charting platform, written in Pine Script®.
Intermarket Swing Projection redraws the swing structure of any external symbol directly on your chart, rescaled so both markets share one price axis: intermarket analysis without leaving the active symbol. Each swing from the second market becomes a z-score, then is re-expressed through the average and standard deviation of your own chart's swings, so an index, metal, currency, or crypto series plots in levels your symbol understands.
How to Trade the Intermarket Swing Projection?
- ZigZag mode: follow the external market's swing highs and lows alongside your own to compare trend phase, timing, and volatility.
- Horizontal Levels mode: projected swing extremes extend forward, and the active symbol often treats them as support or resistance, confluence sourced entirely from another market.
- Average color mode: levels below the mean print bullish, above it bearish; Pivot mode colors swing lows bullish and swing highs bearish.
- Structural divergence: when the two structures stop confirming each other, look for leading or lagging behavior between the markets.
Pivot Length tunes how significant a swing must be, Show Last bounds how much structure stays visible, and Spread pushes the projected levels further from, or closer to, the average of your chart's swings (the zigzag is unaffected). Backpaint plots swings at their true historical location, which keeps past studies honest.
Intermarket Swing Projection Settings
- Ticker and Timeframe: the external market and the timeframe its swings are detected on.
- Show Last: number of swing points displayed.
- Pivot Length: swing sensitivity. Higher values keep only broader pivots.
- Spread: expands or contracts the projected levels without touching swing detection.
- Backpaint: anchors swings at their historical bars rather than at detection.
- Style: zigzag and level visibility, color mode, and colors.
Frequently Asked Questions
Free to use
Run it on Vela. Go further with a paid plan.
- Up to 500 strategy alerts, with webhook automation
- Up to 10× the chart history of Free
- Orderflow lookback up to full history
- More Quant usage to customize it, plus extra usage when you need it
- Futures data alongside crypto, stocks, forex and commodities
Also works on
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Open this indicator free on Vela, our next-generation charting platform. Then ask Quant, our coding agent built into Vela, to retune it or turn it into a backtested strategy of your own.