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Could you show an image of the setting values for this indicator, I´ve got the latest version but the image you show is diferent.
And can you explain the diferent setings?
THKS
I am using the settings provided in the attached pic...and looking for some answers also...
when SWING VOLUME is set to Relativ, does ?it displays the relative volume for the current swing AS compared to the relative volume of the LAST swing? 021M -- ?meaning total RELATIV volume?
when SWING PERCENTAGE is set to True, what does ?it represent? volume? 105.6% -- ?meaning RELATIV volume increased by that amount?
when SWING LENGTH is set to Price_and_Points, what does the "Points" represent?
426.7 / 72.46 --?meaning?
when SWING VOLUME is set to Relativ, does ?it displays the relative volume for the current swing AS compared to the relative volume of the LAST swing? 021M -- ?meaning total RELATIV volume?
when SWING PERCENTAGE is set to True, what does ?it represent? volume? 105.6% -- ?meaning RELATIV volume increased by that amount?
when SWING LENGTH is set to Price_and_Points, what does the "Points" represent?
426.7 / 72.46 --?meaning?
.....thx was able to re-READ thread and saw answers
I know that this has been around for a while and there may be no one watching but if there is! but I have just downloaded this indi so have no experience of it, I have looked thru the thread but can not find any information with regard to my question.
Could someone tell me please, the swing size default is set at 7, what time frame is this optimised for.
I have played around with it, just a little, and I have found that reducing this number to 5 for a five minute chart and 2 for a one minute chart appears to match the actuall swings at these time frames better.
Has anyone else any experience of this and if so could you tell me what swing size you use.
Hi, they will not tell you what time frame optimized for or anything, it is just an indicator given out as an indicator.
Like standard pivots indicator in Ninja.
One time frame one day, is different for the next day.
So it doesn't matter anyway.
You just have to play around more to find its use as a tool, I think its highlighting of higher highs/lows etc is a good handy tool.
But the rest is just eye candy, your eye deceiving you.
Hi Guys. I think this indicator deserves it's award and would like to express my sincere thanks to Dorschden for this indicator. I'd also like to share some research which maybe of interest to some people to show other ways of using this indicator.
I've analyzed the data in detail for all of the instruments I trade and if you know how to interpret the data it can provide an edge. For example the attached spreadsheet shows an analysis of all of the swings of CL since the beginning of 2010. This is based on a 20 Better Reno Chart using a swing size of 7. Relevant details as follows:
1. The count shows the number of swings for each HH to HL and HH to LL etc. For example there have been 239 swings from HL to HH and 104 from HH to LL.
2 The mean is the mean swing in ticks. For example the mean for a HL to HH is 221 ticks.
3. The median is the one to use as most of the distributions are asymmetric so the median is more useful. The median is only 199 from a HL to HH compared to the mean of 221 ticks. This is because extreme swings can skew the distribution and mean whereas the median ignores these outliers.
4. The % is important as it shows the % probability of swings that occur. For example going from a HL to a HH has occurred 63% of the time which is in the favor of the trader.
5. The percentile chart shows the number of ticks at each percentile. So for example the HL to HH 50th percentile which is the median the figure is 199 ticks. So when I'm trading a 20 Better renko chart on oil I know that out of 239 swings half have been over 199 ticks and half below. So I know when the swing has progressed to 285 ticks I'm at the 80th percentile know that there have been only 20% of occurrences above this. Obviously you want to be out of the trade at this point.
6. The count table shows the number of swing at each percentile.
7 The bars show the average number of bars per swing. For example I know that going from a HL to a HH is about 12 bars. If I'm at 12 bars and the price has hardly moved I'm out.
Based on this research I have been able to utilize a framework that gives me some statistically significant parameters to trade within. The obvious drawback is the data only goes back to 2010. I have analyzed ES back to 2004 and found that although there was a variation in the results from 2004 - current compared to 2010 to current I didn't feel they were statistically significant.
@David_R
Have appreciated your Wyckoff-related posts, thank you... occurred to me that Gabriyele's posting of a WeisWave indi for Ninja might be of interest <
