NinjaTrader’s Swing Indicator, one of many pre-installed indicators included with every download of NinjaTrader, plots horizontal lines that represent the swing high and low points for a charted instrument. This intuitive lagging indicator offers a quick and easy method to determine when price moves out of a range based on a user defined “lookback period”.
Out of the box, this versatile indicator can be applied to NinjaTrader Charts, the SuperDOM and Market Analyzer windows, plus it offers a number of customizable options!
By definition, the Swing indicator will plot horizontal lines that represent the swing points based on the “Strength” (number of bars to the left and right of the swing point) parameter provided. This indicator is largely a tool used to visually represent potential support & resistance areas, and not intended to be predictive in nature.
When configuring the Swing indicator, the first option in the Properties Menu, under the Parameters dropdown, is “Strength”. By default, Strength is set to 5, indicating that NinjaTrader will look back 5 bars to find a swing high and low within the defined look back period. When a new swing high/low is identified, NinjaTrader will draw the new horizontal plot up to the newest high/low.
Watch the above video tutorial to see the Swing indicator in action on NinjaTrader’s Chart, SuperDOM and Market Analyzer windows! Additionally, learn how Traders can personalize the high low plots with custom colors, dash/plot styles and width!