I welcome any feedback, comments and suggestions for improvement.
Please discuss the PriceActionSwing (PAS) indicator in this thread. Any comments or suggestions are more than welcome here. If you have a more private issue send me a PM or better an Email (you'll find the address in the top of the PriceActionSwingPro.cs script). Discussion about the newest version starts
here (last update 31.08.2022).
Download PriceActionSwing
Market analyzer template
You can download a market analyzer template in this
post. It contains ABC and
divergence signals as well as swing trends and relations.
Versions
The PriceActionSwingPro indicator calculates swings in different ways and displays all kind of information about the swings above and below them. PriceActionSwingPro contains also some features:
- Draw automatically Fibonacci extensions and retracements
- naked swing lines
- Calculate a swing statistic
- Calculate and visualize ABC patterns
- Calculate and visualize divergence based on an indicator
Settings
Every setting in the NinjaTrades's indicator menu has a short description. Here is a short list of the more important ones.
Parameter:
Double top/-bottom strength:
Represents the
double top/-bottom strength. Increase the value to get more double tops and -bottoms.
Swing size:
Represents the swing size. e.g. 1 = small swings and 5 = bigger swings. Which size you use depends on your trading style. There is no best setting for everybody.
Swing type:
Represents the swing type. In the "Standard" swing type a new swing is found when price is above or below the high or low of the last N bars and N = Swing size. The "
Gann" type is calculated based on Gann's rules for swings.
Swing values:
Here you can choose which information the swings should display.
Information:
- Duration (in bars)
- Labels (HH, HL,…)
- Length (in ticks,
points,…)
- Percentage (in relation to the last swing. e.g. 100% = DT/DB)
- Time
- Volume (Absolute and relative. Relative is the average volume per bar)
Swing visualization type:
Represents the swing visualization type. Dots | Zig-Zag lines | Dots and lines | Gann style. E.g. if you want only dots to visualize the swings choose "Dots".
Visualization:
Here you can choose your own look and feel for the visualization of the swings and the patterns.
Features:
Here you can turn the features on and off.
Statistics:
Swing Length shows the up and down swing length in ticks. The "Last Length" column is the average of the last N swings and N = "Statistic number of swings".
Swing relation for a specific swing (first column) the percentage amount of swings that follow this specific swing. E.g. the values of the first row (Higher High) are:
Swing Count Higher High Lower High Higher Low Lower Low
48 47,9% 52,1% 72,9% 22,9
Then you can interpret this as a Higher High is followed in 72,9% of all cases by a Higher Low and only in 22,9% by a Lower Low. 72,9% + 22,9 % = 95,8%. The remaining amount is for a
double bottom.
Divergence:
Here you can set all settings to display
divergences in the chart.
Div indicator:
Represents the indicator for the divergence calculations. You can add one or more indicators in the source code under the value "custom".
Here you find instructions how to create divergence signals based on a freely chosen indicator.
Param1, Param2, Param3
Represents the first parameter for the indicator you choose. E.g. the standard MACD(12,26,9) would be
Param1 = 12
Param2 = 26
Param3 = 9.
The PAS indicator is very useful to see and trade pure
price action with HH, HL in up trends and LL, LH in down trends and you can easily identify swing patterns like M, W, wedged, HS,…
NT7 statistic panel
[img]https://nexusfi.com/attachment.php?attachmentid=34431&stc=1&d=1300730439[/img]
Swing labels
[img]https://nexusfi.com/attachment.php?attachmentid=15050&d=1275941399[/img]
Any comments and suggestions are welcome!
Dorschden
Tip
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BEST OF TRADING 2011 AWARD
PriceActionSwing was nominated for the Best Indicator Of The Year for 2011, and won 1st place (Gold).
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Tip
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BEST OF TRADING 2010 AWARD
PriceActionSwing was nominated for the Best Indicator Of The Year for 2010, and won 3rd place (Bronze).
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You can see all the results here:
Best Of Trading 2010 - Big Mike Trading