Risk Disclosure

Futures, foreign currency and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. View full risk disclosure.

Swings and SwingsHighsLows



Swings


This indicator shows swing trends in a zig-zag pattern on top of price. It also draws higher highs(HH), higher lows(HL), lower lows(LL), and lower highs(LH) text to indicate the intermediate trend direction. This indicator was written by Dorschden, a user of bigmiketrading.com, and specific questions should be directed to the author.  It is provided free as-is with BloodHound.  Please note, this indicator does not detect reversal points in realtime.  Price must move in the opposite direction for a few bars before the indicator identifies a reversal point.

Parameters

Maximum price/vertical distance between two bottoms or tops to be considered a double top/bottom. IE: If the two consecutive bottoms are this close (or closer) in price, it is considered a double bottom or top.

The sensitivity for defining new swings. IE: 1 is very sensitive and will create lots of small swing points. 7 is less sensitive and will create less and larger swing points.

Visualization Options

Changes the color of swing up lines.

Changes the color of swing down lines.

 

Line style of the swing lines.

The width of the swing line in pixels.

Changes the color of the text for the double bottoms and tops label.

 

Turn on or off the swing point labels. (IE: HH, HL, LL, LH, DB, DT).

 


SwingsHighsLows


This indicator plots the swing high & low points. The highest high swing point, lowest low swing point, lower swing high point, and higher swing low point are each plotted separately for more control in BloodHound. The highest highs and lowest lows are identified by the Widest plots, and the intermediate swing high & low are identified by the Tightest plots.

Parameters

This sets the number of swing points to look back to find the highest high & lowest low swing points. The indicator must be given a limit to the number of swing points it will use to find the highest high & lowest low swing points. See the examples below.

The sensitivity controls the size of the swing points. IE: 1 is very sensitive and will create lots of small swing points. 7 is less sensitive and will create less and larger swing points.


Video



Examples


This image identifies the plot names.

Widest Plots

These images illustrate how the Widest plots work.
Number Swings = 3,  Swing Sensitivity = 3

Number Swings = 4,  Swing Sensitivity = 3

Tightest Plots

These images illustrate how the Tightest plots work.
Number Swings = 3,  Swing Sensitivity = 3

Number Swings = 4,  Swing Sensitivity = 3

Acknowledgement
These indicators were written by Dorschden, a user of bigmiketrading.com. We have been given permission to include with BloodHound for free. Their functionality is As-Is. Some unnecessary sections of the indicator’s code was commented out to improve its use in BloodHound.

Requests for changes to these indicators should be directed to the author Dorschden. We do not have permission to modify or resell these indicators.