OPEN-SOURCE SCRIPT
Swing Catcher Day
The "Swing Catcher" indicator identifies swing points on a daily time frame by combining Simple Moving Averages (SMA) for trend direction, Momentum to gauge price strength, and Average True Range (ATR) to confirm volatility. It marks potential swing highs and lows, validates them using trend and momentum alignment, and filters out noise with ATR-based volatility checks. This makes it an effective tool for spotting and trading significant price movements.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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