Description

• Swing Charts are rising and falling trend-line indicators displaying the essence of market movement
• Swing chart is plotted by connecting the points on the input line where trend begins or ends

Interpretation

• Swing chart allows viewing the essence of market movement without the time-factor
• The actual swing or movements the market has made over the considered time period is obtained

Default Parameters Used/Inputs

• High Line
• Low Line
• Reversal Pcnt

Returns/Output

Swing price values of the stock

Formula

In uptrend, if L[X]<=(1-P)*Hi[X], downtrend starts
In downtrend, if H[X]>=(1+P)*Lo[X], uptrend starts
L[X] and H[X] indicate high and low lines
Where Hi[X]=Highest(H[X],1..X) and Lo[X]=Lowest(L[X],1..X)