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📈 Swingmeter V3 – Indicator + Strategy | Backtesting, Automation, SL/Target & Intraday Exit Explained

Swingmeter V2 was a trend & momentum–based TradingView indicator designed to help traders identify swing direction, trend strength, and potential entry zones using non-repainting logic.
It was widely used for manual trading and alert-based trading, but it did not support proper backtesting, since TradingView indicators cannot generate performance reports.

Based on extensive user feedback and real trading usage, Swingmeter has now been upgraded to Swingmeter V3.

In this video, I explain Swingmeter V3 in complete detail.

👉 Watch the video till the end — important clarifications are shared towards the end.

🔥 What’s New in Swingmeter V3

✅ Custom Stop Loss & Target

You can now define Stop Loss (%) and Target (%) directly in the settings

In backtesting, exits are recorded at the exact SL / Target levels, not candle close

✅ Intraday Exit Time Option

For intraday traders, an automatic exit time window is available

This helps avoid carrying positions near market close (example: 15:15 – 15:30)

✅ Alerts + Automation Ready

Swingmeter V3 alerts can be connected to
AlgoTest / Quantiply / Webhook-based automation platforms

Fully automated trading is possible (broker & platform dependent)

✅ Backtesting Support (Most Requested Feature)

TradingView does not allow backtesting directly inside indicators

Hence, a separate Strategy script is provided using the same exact logic

Indicator → Analysis, alerts & automation

Strategy → Backtesting & performance evaluation

⚠️ Important Note
The indicator and strategy use the same internal logic.
The difference is only in usage, not in signals.

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