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Getting Clear With Short-Term Swings

In his article, “Getting Clear With Short-Term Swings”, Ron Black demonstrates an indicator that finds an effective way to identify and visualize short-term price swings. The method is simple and objective. It requires no calculation and has no delay.

Using Tradecision’s Indicator Builder, one needs to create the SWING LINE indicator:

var
hH:=H;
lL:=L;
lH:=H;
hL:=L;
upsw:=0;
upswprev:=0;
end_var

if HISTORYSIZE >= 1 then
begin
   upsw:=upsw\1\;
   upswprev:=upswprev\1\;
   hH:=hH\1\;
   lL:=lL\1\;
   lH:=lH\1\;
   hL:=hL\1\;

end;

       {Find Swing Direction}
if upsw=1 then begin
   if H>hH then hH:=H; {update hH, hL}
   if L>hL then hL:=L;

   if H<hL then begin {swing changes to down}
      upsw:=0;
      lL:=L;
      lH:=H;
   end;
end;

if upsw=0 then begin
   if L<lL then lL:=L; {update lL, lH}
   if H<lH then lH:=H;

   if L>lH then begin {swing changes to up}
      upsw:=1;
      hH:=H;
      hL:=L;
   end;
end;

if upsw\1\ = 1 and upsw = 0 then return Hl;
if upsw\1\ = 0 and upsw = 1 then return Lh;
if upsw=1 then return hL;
if upsw=0 then return lH;
return 0;



Download to import into Tradecision.

How to use this indicator in Tradecision:
  1. Click Download.
  2. Save this indicator in a safe location on your hard drive.
  3. Open Tradecision and in the Tools menu click Indicator Builder.
  4. In the Indicator Builder dialog, click Import, locate the saved file and then click OK.
The indicator will be added to the Custom Indicators list.
 
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