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OPEN-SOURCE SCRIPT

Vietnamese: Swing Low Detection with SMA Bands & Background

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This script detects **swing lows** using a dynamic SMA-based logic and visually highlights them on the chart.

Features
  1. Customizable Moving Averages: Supports multiple MA types (SMA, EMA, WMA, RMA, HMA, DEMA, TEMA, VWMA).
  2. Swing Low Visualization: Identifies swing lows when price closes below the SMA of lows and exits once price trades above the SMA of highs.
  3. Smart Rectangles: Marks detected swing lows with labeled boxes for clear visual reference.
  4. Background Highlights**: Dynamically shades the chart background when price breaks below recent swing lows, helping traders spot potential breakdown zones.
  5. Configurable Parameters: Period length, rectangle length, and MA source can all be tuned.

Use Cases
  1. Spot breakdown/bearish continuation signals when price closes under recent lows.
  2. Combine with higher timeframe trend analysis for confluence.

Notes
* This tool is designed for **visual analysis** and is not a standalone buy/sell signal.
* Works best when combined with broader trend analysis, support/resistance levels, and volume.

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

doqkhanh
MikeJSaylor @ telegram
Also on:
Bands and ChannelsBOSchochPivot points and levelsSimple Moving Average (SMA)structure

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Bands and ChannelsBOSchochPivot points and levelsSimple Moving Average (SMA)structure

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

doqkhanh
MikeJSaylor @ telegram
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.