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.

Swing Trend and Swing Highs & Lows

(Formerly Swings and SwingsHighsLows)


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Swing Trend

(Formerly Swings)

This indicator identifies swing points and trends in a zig-zag pattern.  It also draws higher highs(HH), lower highs(LH), lower lows(LL), and higher lows(HL) text along with other swing data.  Most of the swing data is exposed as a Data Series so it can be used in BloodHound.  e.g.  Swing duration, height, and percentage.  Plus, various calculated price trends based on price action.
This indicator is derived from the PriceActionSwing indicator, and was written by Dorschden, a user of Futures.io.  Because we did not create this indicator, we are unable to answer detailed or specific questions about its internal functionality.  Those type of questions should be directed/asked on the PriceActionSwing discussion thread on Futures.io, where the author and community members can answer.  This indicator is provided for free, and As-Is.
Please note, this indicator does not detect reversal points in real-time as the zig-zag lines may appear to suggest.  Price must move in the opposite direction for a few bars before the indicator can identify a reversal point.

Properties

1. Parameters

These are the main settings that control how swing points are calculated.

2. Display Swing Data

The settings in this section determines what information is displayed as text on the chart, and the type of data displayed.
The Data Series output values (see the section below) are controlled by these settings.  EG.  If Show Duration is set to ‘in Bars‘ the DataSeries SwingDuration will output the number of bars the swing lasted.  If set to ‘as MM:SS” the DataSeries SwingDuration will output the total number of seconds the swing lasted.  If set to ‘as HH:MM” the DataSeries SwingDuration will output the total number of minutes the swing lasted.  All outputs are rounded to 1 decimal place.  e.g. If the output is in minutes, then 1.4 is approximately 1 minute and 24 seconds.

3. Visual Characteristics

These settings change the visual style and look of the indicator on the chart.  They have no effect when this indicator is used in BloodHound or BlackBird.

4. Gann Swings

These settings only apply when Swing calculation type is set to Gann.

DataSeries

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A DataSeries is a way to output data without plotting it on the chart. These DataSeries provide information about a swing as it is forming.
Please note:  The data from the four Swing??? DataSeries does not exactly match the zig-zag lines drawn on the chart.  The zig-zag lines are their to visually connect the swing point dots, but the lines do not tell you what bar a swing reversal was first detected.  A swing reversal is not know until price moves a certain amount in the new swing direction, which typically takes several bars, but the lines always start drawing from the swing dots.


Swing Highs & Lows

(Formerly SwingsHighsLows)

This indicator plots the swing points of the SwingTrend indicator, as horizontal price lines.  The highest high (HH) , lowest low (LL) , lower high (LH) , and higher low (HL) swing points are each plotted separately for more control in BloodHound.  The HH and LL are identified by the Widest plots, and the intermediate LH & HL swing points are identified by the Tightest plots.

Properties

1. Parameters

All the other parameter settings come from the Swing Trend indicator.  Please see the Swing Trend settings above.


Video



Examples


This image identifies the plot names.

Widest Plots

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

Number of Swings = 4,  Swing Strength = 3

Tightest Plots

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

Number of Swings = 4,  Swing Strength = 3


Acknowledgement

The Swings and Swing Trend indicator (from PriceActionSwings) was written by Dorschden, a user of Futures.io (formerly bigmiketrading.com).  We have been given permission to include with BloodHound as a free indicator.  The functionality is As-Is, per Dorschden’s design.  Some unnecessary sections of the indicator’s code is commented out to improve performance when used with BloodHound.
If either of these indicators provides value in your trading, please consider donating, per Dorschden’s request, to 

Requests for changes to these indicators should be directed to the original author Dorschden on Futures.io.  The original indicator name is PriceActionSwing.  We do not take requests to modify, nor do we resell, other sourced indicators.