A transmit-received (TR) switch is designed such that the receiver-side shunt PIN diode acts as a switchable shunt diode while the switch operates in transmit mode and acts as a limiter while the switch operates in receive mode. This is achieved using a DC Schottky diode between the receiver-side shunt network and the biasing network. While the switch operates in receive mode, received radio frequency (RF) signals that exceed a power threshold cause the Schottky diode to become forward biased, causing the shunt PIN diode to act as a limiter that protects the receiver from excessively high RF signal power. This approach affords a high level of protection using a small number of components and without adding insertion loss to the RF signal path.