Swing Trade & Scalp Signals is a TradingView indicator for active day and swing traders that prints buy and sell arrows when multiple signal conditions align on a single candle. Three modes (scalp, swing, and long swing) let you dial in how many signals fire based on your timeframe and style.
The indicator includes volume weighted moving average clouds for trend identification, auto fibonacci levels, a risk detection system, buy and sell pressure candle coloring, live percentage updates, and the ability to filter signals using up to 3 external indicators for added confluence.
The best markets to use this indicator on are high-volume tickers with a lot of price action. It works across all markets including stocks, crypto, forex, and futures and across all timeframes.
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What It Does
Core Features
Buy & Sell Signal Arrows
When the algorithm detects all required parameters lining up on a single candle, signal arrows appear on the chart. Buy arrows (green) indicate upward price action is expected. Sell arrows (red) indicate downward price action is expected. You can choose between small and medium arrow sizes in settings.
Three Trading Modes
Scalp Mode: Early entries with lots of signals. Designed to catch every move quickly
Swing Mode: Fewer signals with longer holds. Filters out some noise for cleaner trades
Long Swing Mode: The fewest signals with the longest holds. Catches extended moves
Each mode also has a “Less Signals” option that provides a more conservative version, giving you 6 variations to match your trading style. For more signals on any mode, go to a lower timeframe. For fewer signals, go to a higher timeframe.
Risk Detection System
Each signal comes with a risk level label:
Low Risk: The trend is in the same direction as the signal. Safest trades
Medium Risk: The trend is neutral. Expect choppy price action
High Risk: The trend is in the opposite direction of the signal. Most dangerous
Wait for low-risk signals before entering trades. An “Only Give Low Risk Signals” setting filters out everything except low-risk signals automatically.
The risk detection system on the bottom right corener tells you how strong the trend is so you can wait for low risk signals.
Volume Weighted Moving Average Clouds
Two VWMAs with configurable lengths (default 100 and 500) and a configurable-length RMA serve as dynamic support and resistance with color-coded trend clouds. Clouds turn green when price is above the moving average and red when below.
The safest long trades are when the shorter VWMA is above the longer VWMA and a buy signal comes in near one of the VWMA lines. The safest short trades are the reverse.
External Indicator Signal Filtering
Filter signals using up to 3 external indicators as confluence requirements. Select any indicator that outputs a 1 (bullish), -1 (bearish), or 0 (no trade) value. When an external filter is enabled, signals only fire when the external indicator agrees with the signal direction.
Other Trend Friend indicators with a “Trend Direction To Send To External Indicators” output like the Trend Trading Indicator are designed to work with this feature.
Note: You cannot use “Only Give Low Risk Signals” and external indicator filters at the same time. Enable one or the other.
Trade Direction Output
The indicator outputs its own trade direction value (1 = bullish, -1 = bearish, 0 = no trade) that other indicators on the same chart can use as a filter. This lets you combine multiple signal indicators together for cross-confirmation.
Auto Fibonacci Levels
Automatically populates fibonacci retracement and extension levels calculated from the previous high and low. The source can be switched between daily, weekly (default), monthly, quarterly, and yearly. The percentage update table shows the distance to the next fibonacci levels above and below.
The indicator auto populates Fibonacci levels derived from the previous session length that you set it to.
Percentage Update Table
A live table showing: percentage from closest fibonacci levels, percentage from VWAP, percent gain or loss from the last signal entry, and percentages from your custom entry prices. A margin multiplier applies your leverage to all percentages.
Buy & Sell Pressure Candle Coloring
Candles are colored based on close-to-close price movement. Green when the candle is up with a higher close than the previous candle. Red when down with a lower close. Blue when neither condition is met (neutral). You must turn off your chart’s built-in candle coloring for this to display.
Bounce Zone
A purple cloud made from two very long-term moving averages (EMA 1000 and EMA 2000). When price approaches this zone from above, expect support. When approaching from below, expect resistance. Breakouts from this zone often produce fast, large moves.
Chop & Low Volume Warnings
Warning labels appear when choppy price action or unusually low volume is detected. Stay out of trades during these conditions or watch existing positions closely.
Trading Guide
How to Use
Trading with Signal Arrows
Take signals that line up closely with fibonacci levels, VWMA lines, the VWAP, or any combination. Only take trades in the direction of the trend and wait for low-risk signals. Check the percentage update table to verify the expected move to the next fibonacci level is worth the risk-to-reward ratio.
Watch for signals when the VWMAs squeeze together after a wide gap and price breaks out with a corresponding signal. These often produce large, quick moves.
Trading the VWMA Clouds
When price is between the two VWMAs, treat them as support and resistance and only take signals near one of the VWMAs with the plan of price returning to the other. If the VWMAs are close together and moving sideways, expect choppy price action. Wait for price to hold above or below both VWMAs before trading.
Trading the Bounce Zone
When price enters the purple bounce zone cloud, expect a reversal or accumulation. If price was trending above the cloud, expect support. If trending below, expect resistance. When price breaks out of this zone, expect fast and large moves in the breakout direction.
Using External Indicator Filters
For maximum confluence, add the Trend Trading Indicator or another compatible indicator to your chart and select it as an external filter source. This ensures you only get signals when multiple indicators agree on direction, significantly improving win probability.
Stay Notified
Alerts
Available alerts:
Buy Signal
Sell Signal
Low Risk Buy Signal
Low Risk Sell Signal
Price Crossing VWMA (short length)
Use these alerts to get notified of signals on markets you’re not actively watching. Alerts can also be used to send orders to trading bots.
Markets & Timeframes
Compatibility
The indicator works across all markets (stocks, crypto, forex, futures) and all timeframes. Best results come from high-volume tickers with active price action. On very long timeframes, the indicator may not generate signals due to insufficient historical data for the algorithm’s calculations.
CONFIGURATION
Settings Overview
Main Settings
Setting
Default
Description
Trading Mode
Scalp
Choose Scalp, Swing, or Long Swing mode
Less Signals
Off
When enabled, gives fewer signals for a more conservative version of whichever mode is selected
Arrow Size
Small
Choose between small and medium signal arrows
Only Give Low Risk Signals
On
Only generates signals when the VWMA trend agrees with the signal direction. Cannot be used simultaneously with external indicator filters
VWMA Short Length
100
Length of the shorter volume weighted moving average
VWMA Long Length
500
Length of the longer volume weighted moving average
RMA Length
10
Length of the RMA moving average
Fibonacci Source
Weekly
Source period for auto Fibonacci calculations: Daily, Weekly, Monthly, Quarterly, or Yearly
External Indicator Filters
Setting
Default
Description
External Filter #1–#3
Off
Enable and select an external indicator source that outputs 1 (bullish), -1 (bearish), or 0 (no trade). Use the "Trend Direction To Send To External Indicators" output from other Trend Friend indicators
Trend Direction Output
Always On
Outputs 1 (bullish), -1 (bearish), or 0 (no trade) for other indicators on the same chart to use as a filter source
Display Toggles
All visual elements can be independently enabled or disabled:
Buy/Sell signal arrows
VWMA lines and clouds
VWAP and cloud
RMA line
Auto fibonacci levels
Bounce zone cloud
Buy & sell pressure candle coloring
Percentage update table
Trend detection label
Chop and low volume warnings
Portfolio Settings
Long/Short Entry Price: Enter your actual entry price to see live P&L in the percentage table
Margin Multiplier: Multiplies all percentages by your margin level (e.g., 5x = all percentages × 5)
IMPORTANT
Important Notes & Limitations
⚠Signals may repaint before the candle closes. Either wait for the candle to close with a signal before entering, or only take signals on candles with good volume and technical analysis backing them.
⚠Turn off your chart's built-in candle coloring so the indicator's buy/sell pressure candle colors are visible. Go to chart settings → Symbol tab → turn off body, wicks, and border.
⚠"Only Give Low Risk Signals" and external indicator filters cannot be used at the same time. Enable one or the other. If both are on, you will get an error and no signals will appear.
⚠External indicator filters require a compatible source. The external indicator must output 1 (bullish), -1 (bearish), or 0 (no trade). Use the "Trend Direction To Send To External Indicators" output from other Trend Friend indicators.
⚠
Markets with low volume and little price action may produce poor signals since the algorithm requires many parameters to align on a single candle. Use on high-volume tickers for best results.
Get Access
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Scalp mode gives the most signals with early entries and exits, designed to catch every move. Swing mode gives fewer signals and holds positions longer by filtering out noise. Long Swing mode gives the fewest signals for extended position trades. Each mode also has a "Less Signals" variation for a more conservative version. Use a lower chart timeframe for more signals on any mode, or a higher timeframe for fewer.
Signals can repaint before the candle closes. For confirmed signals, wait for the candle to close with the signal still present before entering a trade. Alternatively, you can take signals before the close on candles with strong volume and technical analysis supporting the move, but understand the signal could disappear if conditions change before the candle closes.
Add a compatible indicator (like the Trend Trading Indicator) to the same chart. In Swing Trade & Scalp Signals settings, enable one of the External Filter slots and select the "Trend Direction To Send To External Indicators" output from that indicator as the source. Signals will only fire when the external indicator agrees with the signal direction. You can use up to 3 external filters simultaneously, but cannot use them at the same time as "Only Give Low Risk Signals."
Take profit labels were removed in the June 2025 update because they were cluttering the chart. Instead, use opposite direction signals as your take profit trigger. When a sell signal appears during a long trade (or a buy signal during a short trade), that is your cue to take profits or exit.
Low Risk means the VWMA trend agrees with the signal direction. These are the safest trades. Medium Risk means the trend is neutral and choppy price action is expected. High Risk means the trend opposes the signal direction. These trades are against the trend and are the most dangerous. For the best win rate, only take low-risk signals, which you can automate with the "Only Give Low Risk Signals" setting.
CHANGELOG
Release Notes
Pine Script v6 Upgrade, External Filtering & Signal Arrows
Major update upgrading to Pine Script v6 with new features including external indicator filtering, signal arrows replacing text labels, adjustable moving average lengths, and a low-risk-only signal mode.
What Changed
•
Updated to Pine Script v6 with code improvements throughout
•
BULL/BEAR text labels replaced with signal arrows (small and medium sizes selectable in settings)
•
Take profit labels removed. Use opposite signals to take profit instead
•
VWMA and RMA lengths are now adjustable in settings
•
New "Only Give Low Risk Signals" default setting filters out everything except signals where the VWMA trend agrees with the signal direction
•
External indicator signal filtering. Use up to 3 other indicators as directional filters (requires 1/-1/0 output)
•
Trade direction output added. Other indicators can use this indicator's direction as a filter source
Alert Updates
Updated alert options for better signal filtering.
What Changed
•
Removed alert for price crossing VWMA 500
•
Added alerts for low risk buy signals and low risk sell signals
Show older updates
Signal Rejection Parameters & Candle Color Update
Added signal rejection parameters to hold trending positions longer and changed candle coloring logic to close-over-close comparison.
What Changed
•
Added 2 signal rejection parameters to hold trending positions longer
•
Candle coloring changed from DMI-based to close-over-close: green when up with higher close than previous, red when down with lower close, blue when neutral
Less Signals Option Added
Added a "Less Signals" checkbox that provides a more conservative version of each trading mode.
What Changed
•
New "Less Signals" checkbox affects scalp, swing, and long swing modes, giving 6 total mode variations
Signal Parameter Improvements
Multiple rounds of signal parameter improvements through October 2022.
What Changed
•
Improved signal parameters across multiple updates (Oct 4 and Oct 17)
Initial Release & Early Updates
Initial release followed by rapid improvements including bug fixes, signal parameter tuning, and new rejection patterns.
What Changed
•
Added support for tickers with limited historical data (May 10)
•
Removed short-term take profit trigger on 1H+ timeframes (May 12)
•
Added bounce zone toggle, signal rejection patterns, and signal trigger patterns (May 17 – June 21)
•
Various bug fixes for lower timeframe outputs and candle rendering
Designed for fast scalping on the 1-minute chart with quick entry and exit signals. Pairs naturally with Swing Trade & Scalp Signals in scalp mode. Use external indicator filtering to chain them together for high-confluence scalp entries.
Automatically detects supply and demand zones where price is likely to reverse. Take Swing Trade & Scalp Signals arrows at supply and demand zones for higher-probability entries with clear stop loss placement at the zone boundary.
Plots automatic support and resistance levels based on volume analysis. Combine with Swing Trade & Scalp Signals to confirm signal arrows at volume-validated price levels for stronger entries.
