Swing Tops

Last modified 14:39, 5 Nov 2012

Swing Tops

swingtops.gifThe Swing Tops Hi-Lite displays the location and details of the point of reversal for each upward swing.

The details that can be displayed include price range, time (intervals), price at reversal and date information.

Users can change the method of calculating the swings. This allows for multi-interval swing analysis, for example 3 day swings, and swings based on time or price.

It's functionality is the exact opposite of the Swing Bottoms Hi-Lite.

Swing Detection setting

To change the manner in which a swing is detected, double-left mouse-click on the Swing Tops' Hi-Lite's label to open the Swing Hi-Lite Properties dialog box, and click the Parameters tab.

Swing Type

There are two detections types available in the drop down box - Time or Price/Points.

Different parameters are required for each type:

  • Time - users set the number of Periods (intervals) by which the swing is calculated. The default is one.
  • Price/Points - users set the number of Points by which the swing is calculated. The default is one (1.0), but users should manually setth is to the point size appropriate for the current symbol, for example 0.01 for a security trading at $9.75, and then set the desired value, for example 0.05. 
Gann's Exception Rule

Gann's Exception Rule applied to multi-interval Time Swing calculations, i.e. periods greater than one.

For top swings this rule applies where there is an interval's high that exceeds the last swing top, regardless of the fact that the high occurred within the time period set to calculate the swing chart (i.e. a large one day move may turn a 3 day swing chart). For more information, go to the Gann's Exception Rule topic.

When the swing detection settings have been properly altered, click OK to apply the new setting to the Hi-Lite.

This new setting can be saved as the new default by clicking the Defaults button.

Display Settings

The swing top details display settings are changed on the Settings tabbed page of the Swing Hi-Lite Properties dialog box.

Color and Display

The color of the indicator dash and the text of the details can be changed using a standard color selector.

The following information can be turned on or off by checking/un-checking the check-boxes following the descriptions:

Swing Range

This number indicates the value of the range between the last swing upward and the current swing top. This value is expressed in the point size of the symbol.

The swing range is expressed as - R:"point size of range"

Trading Periods

This number indicates the number of trading periods (intervals) that passed before the swing change criteria was met. Obviously, when more periods are included in the swing calculation (see above), the swings take longer, and this number becomes greater.

The number of trading periods is expressed as - T:"number of intervals"

Date of Swing

This date is the date of the change in direction, or last day of the interval (e.g. week, month, etc.) at which the swing direction changed.

The date of the change in swing  is expressed as - dd/mm/YYYY"

Price of Swing

The price of swing bottom is the Low of the Date of Swing for daily swing charts, or the price of the lowest low for weekly, monthly, etc. swing charts.

The price of swing bottom is expressed as - $.$$ or $.$$$, depending on the point size of the symbol.

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