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File Name: RealTimeSwings.efs
Description:
This formula identifies swing points on a daily or intra-day basis. On intra-day intervals, the developing legs (last two legs) will update in real time. This type of study is also referred to as the Zig Zag. The main difference with this study is that the user can define swing points with a combination of user-defined inputs.
Formula Parameters:
Swing: # of Bars - 5
(Number must be greater than 0. Determines the number of bars to either side of the swing point that must not exceed the swing bar’s max or min value).
Swing: Wave Type - % Retracement
(options are: % Retracement or % Change in Price. % Change in Price requires the price to move a minimum percentage from the previously identified swing point. % Retracement requires the price to move a minimum percentage of the distance between the 2 previously identified swing points.)
Swing: Wave Percentage – 30
(The percentage requirement for the selected wave type.)
Swing High Price Source – High
(options are: Open, High, Low, Close)
Swing Low Price Source – Low
(options are: Open, High, Low, Close)
Line Thickness – 2
Confirmed Swing Line Color – Blue
Developing Swing Line Color - Red
Confirmed Swing Line Color - Blue
Developing Swing Line Color - Red
Display Swing Labels - True
Display % Retracement Label - True
Number of Historical Labels - 100
Notes:
To replicate the more common Zig Zag study on a 30 min chart of INTC for example, enter 1 for # of Bars, select % Change in Price and 1.5 for Wave Percentage. Another combination that works well across various intra-day intervals is a # of Bars of 10 with % Change in Price and a Wave Percentage of 0. The chart image below is using the default values above.
Download File:
RealTimeSwings.efs (Version 1.1 – Updated 4/8/2004)
EFS Code:
Description:
This formula identifies swing points on a daily or intra-day basis. On intra-day intervals, the developing legs (last two legs) will update in real time. This type of study is also referred to as the Zig Zag. The main difference with this study is that the user can define swing points with a combination of user-defined inputs.
Formula Parameters:
Swing: # of Bars - 5
(Number must be greater than 0. Determines the number of bars to either side of the swing point that must not exceed the swing bar’s max or min value).
Swing: Wave Type - % Retracement
(options are: % Retracement or % Change in Price. % Change in Price requires the price to move a minimum percentage from the previously identified swing point. % Retracement requires the price to move a minimum percentage of the distance between the 2 previously identified swing points.)
Swing: Wave Percentage – 30
(The percentage requirement for the selected wave type.)
Swing High Price Source – High
(options are: Open, High, Low, Close)
Swing Low Price Source – Low
(options are: Open, High, Low, Close)
Line Thickness – 2
Confirmed Swing Line Color – Blue
Developing Swing Line Color - Red
Confirmed Swing Line Color - Blue
Developing Swing Line Color - Red
Display Swing Labels - True
Display % Retracement Label - True
Number of Historical Labels - 100
Notes:
To replicate the more common Zig Zag study on a 30 min chart of INTC for example, enter 1 for # of Bars, select % Change in Price and 1.5 for Wave Percentage. Another combination that works well across various intra-day intervals is a # of Bars of 10 with % Change in Price and a Wave Percentage of 0. The chart image below is using the default values above.
Download File:
RealTimeSwings.efs (Version 1.1 – Updated 4/8/2004)
EFS Code:
PHP Code:
/*********************************
Provided By : eSignal. (c) Copyright 2004
Study: Real Time Swings
Version: 1.1
Formula Parameters: Default:
* Swing: # of Bars 5
This is the minimum number of bars required to define a
swing point. This number is for both sides of the swing
point (i.e. 5 bars on the left and right of the swing bar).
* Swing: Wave Type % Retracement
(% Retracement, % Change in Price)
* Swing: Wave Percentage 30
The number 5 will be treated as 5.0%. The number 0.05 will
be treated as 0.0005%.
* Swing High Price Source High
* Swing Low Price Source Low
* Line Thickness 2
* Confirmed Swing Line Color Blue
* Developing Swing Line Color Red
* Display Swing Labels True
* Display % Retracement Label True
* Number of Historical Labels 100
Notes:
1.1 3/24/2004
* Added labels to display point value, % retracement, number of bars
and price level of swings. The number of historical labels is set
to 100 for performance reasons. Increase this number to view more
historical labels.
* Added labels to display current swing's % retracement.
Description of Swing Labels:
At Swing Highs - Points (% Retracement)
Price (Number of Bars)
At Swing Lows - Price (Number of Bars)
Points (% Retracement)
*********************/
// Code is too large for display. Use the Editor (Tools-->EFS-->Editor) to view the code.