MTF Switch Level (Single TF)

前天

Multi-timeframe Switch Level (Single TF)

This indicator marks the most recent “switch level” created by breakout / breakdown behaviour on the current timeframe.

How it works
– After a bullish breakout (close above the previous bar’s high), the script sets a bearish switch level at that previous high.
– After a bearish breakdown (close below the previous bar’s low), it sets a bullish switch level at that previous low.
– A single horizontal line extends from the latest switch level.
– The line and “S” label turn bullish when price is above the level and bearish when price is below it.
– Optional alerts fire when price crosses the active switch level.

Use-cases
– Visualise where breakout traders are likely trapped.
– Define a simple “above = bullish / below = bearish” bias line.
– Combine with higher-timeframe analysis or other tools for context.

Inputs
– Enable/disable bullish and bearish switch conditions.
– Line length, colour, style, thickness.
– Label position and offsets.
– Alert conditions for crosses.

Disclaimer
This tool is for charting and educational purposes only and is not financial advice or a signal service. Always do your own research and risk management.

前天

版本注释

Bug fix: dynamic color logic now correct.

前天

版本注释

Improved switch-level accuracy and behaviour.
Line now anchors precisely to the breakout/breakdown candle.
Dynamic colour updates every bar based on price relative to the level.
General code cleanup, stability improvements and visual fixes