CM Gann Swing High Low V2

The CM Gann Swing High Low V2 indicator tracks market trend shifts by plotting dynamic support and resistance levels based on Gann-style moving average crossovers, providing clear visual cues for trend direction and potential breakouts.

Usage

The CM Gann Swing High Low V2 serves as a trend-following tool that identifies "Swing High" and "Swing Low" levels based on the relationship between price action and moving averages. When the price closes above a Gann High level, it signals a bullish shift; conversely, a close below a Gann Low level indicates a bearish shift.

The indicator offers several visual modes to interpret these shifts:

• Trend Identification: Traders can use the color-coded lines and shapes to determine the current trend bias. Green elements typically represent bullish conditions, while red elements represent bearish conditions.
• Breakout Signals: The script can highlight specific bars or the background when a price crossover occurs, making it easier to spot the exact moment a trend reverses.
• Sensitivity Adjustment: By modifying the moving average period, users can tailor the indicator to different timeframes or market volatilities. A lower period increases sensitivity to price changes, while a higher period smooths out noise.

Details

The script is a refined version of the original Gann Swing High Low logic, originally developed by Glaz and ChrisMoody. It functions by calculating a Simple Moving Average (SMA) of both highs and lows over a user-defined period.

The core logic determines the trend state (hld) by comparing the current close to the previous SMA values. If the close is above the previous high SMA, the state is bullish (1). If the close is below the previous low SMA, the state is bearish (-1). The indicator uses the linebr style for plotting, ensuring that lines only appear when specific conditions are met, preventing cluttered charts.

Settings

Main Settings

• Moving Average Period: Sets the lookback period for calculating the SMA of Highs and Lows. Adjusting this value changes the responsiveness of the indicator.
• Plot Up/Down Triangles at Top and Bottom of Candles/Bars?: Toggles the visibility of triangles directly above or below price bars when a swing level is active.
• Plot Circles at Top and Bottom of Candles/Bars?: Toggles the visibility of the primary Gann High/Low plots using a circle-based line style.
• Plot Triangles at Top and Bottom of Screen?: Displays directional triangles at the very top or bottom of the chart area to provide a constant indication of the current trend.
• Show Highlight Bars on Cross Up or Cross Down?: When enabled, colors the specific price bar (yellow) that triggers a crossover.
• Show Background Highlights at Cross Up or Cross Down?: When enabled, applies a background color (Green for up, Red for down) to the chart at the moment of a crossover.

FAQ

How do I interpret the different colors on the chart?

Green signals typically indicate a bullish environment where price is holding above the Gann Low, while red signals indicate a bearish environment where price is below the Gann High. Yellow highlights identify the specific transition bars.

Can I use this for intraday trading?

Yes, the indicator is versatile and can be applied to any timeframe. However, users should adjust the Moving Average Period setting to match the volatility of their specific timeframe.

How do I get access to CM Gann Swing High Low V2?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.