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PriceActionSwing discussion

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  #1 (permalink)
Germany
 
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Any comments and suggestions are welcome!

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 PriceActionSwing.cs script). Discussion about the newest version started here (last update 05.06.2014).

Download PriceActionSwing

Market analyzer template
You can download a market analyzer template in this post. It contains ABC signals, swing trend direction and divergence signals.

Strategy development
In this post you find a strategy sample code snippet which shows how to use the swing trend in a strategy. Start reading at "strategy development".

Versions

The PriceActionSwing calculates swings in different ways and displays all kind of information about the swings above and below them. If you just want to visualize swings then you should use this version.

There is also a PriceActionSwingPro version that contains in addition to the normal version some features which are all off at default. The features are:
- Draw automatically Fibonacci extensions and retracements
- Calculate a swing statistic
- Calculate and visualize ABC patterns
- Risk management (automatically for ABC patterns)
- Calculate and visualize divergence based on an indicator
- Use @gomi's most outstanding cumulative delta work for swings

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".

Visualize swings/patterns:

Here you can choose your own look and feel for the visualization of the swings and the patterns.

Swing 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.

Risk management:
You can use this feature for to calculate the your trade quantity and see the risk reward ratio and/or you can use it to trade the ABC pattern. Set your trading capital in "Account size" and your risk in "Account risk per trade".

Divergence:

Here you can set all settings to display a divergence 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.

GomCD:

To use cumulative delta for the swings or divergence you have to uncomment all GomCD regions in the source code. Press "ctrl + F" or the "Find/Replace" button and search for "region GomCD" and uncomment all the regions and compile it. Of course you have to install the Gom package before.

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,

New NT7 statistic panel


Swing labels



Any comments and suggestions are welcome!

dorschden

Tip

BEST OF TRADING 2011 AWARD

PriceActionSwing was nominated for the Best Indicator Of The Year for 2011, and won 1st place (Gold).





Tip

BEST OF TRADING 2010 AWARD

PriceActionSwing was nominated for the Best Indicator Of The Year for 2010, and won 3rd place (Bronze).




You can see all the results here: Best Of Trading 2010 - Big Mike Trading

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  #2 (permalink)
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Great Job!

I really like it !

i dont know if its possible but can you add the ABCD pattern and fibs to this indicator?

Ban.

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  #3 (permalink)
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Nice dorschden
Look here if you are an elite member...https://futures.io/elite-circle/1254-swing-temp-order-use-harmonic-patterns-2.html

a combination of the two might be interesting. I cross linked them.

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  #4 (permalink)
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Very nice! I have been trying to program an improved swing indicator myself, but this one looks great! How have you been using this in your trading strategy?

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  #5 (permalink)
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I uploaded a new version in the download section with Fibonacci retracements, Fibonacci extensions and an visual entry area for the AB=CD pattern.

With NinjaTrader 7 it's easy to set draw objects in the future and with this feature it's possible to visualize the AB=CD pattern in a better way. But for now the Fibonacci tools must reach.






websouth View Post
Look here if you are an elite member...

a combination of the two might be interesting. I cross linked them.

I'm not an elite member. When I should add some stuff to PriceActionSwing write this in this thread and I'll see what I can do. Otherwise you can use my code (many comments, I think easy to read) and add some snippets in the other swing indicator.


Dusty909 View Post
How have you been using this in your trading strategy?

For my trading style a good swing indicator is essential. Because I often trade price pattern. Next step is to automate the pattern recognition.

I also create a strategy that trades double bottoms/tops with this indicator. As entry trigger you can use almost everthiny: a stochastic cross, MA cross, 3 bar reversal,... the stop is 2 ticks below the double bottom and profit target is the last swing high or let it run with an atr stop, PSAR, TSSuperTrend. Short vice versa. The results are good, but not extraordinary.

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  #6 (permalink)
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Dorschden,

First off, thanks for this wonderful indicator. I've been working with ZigZagUTC to use in my strategies with little luck (due to my poor c# skills). Your indicator would seem to do exactly what I need with the PriceSwingRelation dataseries.

This is probably a very basic C# question, so pardon my lack of coding knowledge. Can you provide an example of calling this indicator by a strategy to determine the values held in the PriceSwingRelation dataseries?

i.e. if (PriceActionSwing(SwingMode, dtbStrength, span).PriceSwingRelation == #
&& ...
&& ... )
{ do something }

What is the required syntax for the "SwingMode" variable when calling the indicator? I've tried many variations such as "SwingMode.Standard", but no luck yet.

Thanks!

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  #7 (permalink)
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Pepperdog,

you have to add this lines in your strategy

 
Code
#region Using declarations
...
using PriceActionSwing.Utility;
#endregion 

#region Variables
...
private SwingMode pAS_SwingMode = SwingMode.Standard; 
private int pAS_DtbStrength = 15; 
private int pAS_Span = 8; 
#endregion

protected override void Initialize()
{
   …
   // Add the indicator to the chart - not necessary
   Add(PriceActionSwing(pAS_SwingMode, pAS_DtbStrength, pAS_Span));
}

protected override void OnBarUpdate()
{
   …
   // If the last high and  low was higher high and higher low and a short sma cross above the long sma enter long
   if (PriceActionSwing(pAS_SwingMode, pAS_DtbStrength, pAS_Span).PriceSwingRelation[0] == 1 && CrossAbove(SMA(3), SMA(7), 1))
   (
      EnterLong(DefaultQuantity, "");
   )
   ...
}

#region Properties
[Category("Parameters")]
public SwingMode PAS_SwingMode
{
   get { return pAS_SwingMode; }
   set { pAS_SwingMode = value; }
}

[Category("Parameters")]
public int PAS_DtbStrength
{
   get { return pAS_DtbStrength; }
   set { pAS_DtbStrength = Math.Max(1, value); }
}

[Category("Parameters")]
public int PAS_Span
{
   get { return pAS_Span; }
   set { pAS_Span = Math.Max(1, value); }
}
#endregion
For the 1 in "PriceSwingRelation[0] == 1" you can set the following values
-2 for double top
-1 for lower high and lower low
0 nothing
1 for higher high and higher low
2 for double bottom

Hope this helps.

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Very good. As to enhancement suggestions (!):

wouldn't it be nice to be able to keep a running average of upswings and downswings and either simply print that out in a stats panel or actually project it onto the chart once a new swing has formed. It would also be nice to keep track of the av number of bars and project the same - esp. good with minute charts.

A further embellishment to the above would be to track upswings in bull markets, downswings in bull mkts, downswings in bear, downswings in bull to better hone the anticipated swings. When the market falls short of a projection it indicates weakness, when greatly exceeds indicates strength, but also helps to provide context of what is likely once a new swing has formed.

Only problem is that with this method of calculating swings there might often be considerable 'lag' between when the swing/high/low formed and the code recognises it as such. But I for one would love to be able to see this on a chart and I think you are more than halfway there with the underlying code.

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  #9 (permalink)
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Good suggestions and I'm already working on a statistic add on with almost the same stuff you mention. There is the average up-/down swing length and duration in bars and the same for the last x swings. Furthermore I differ this in up trends with higher high/low and down trends. An with this values I plan to visualize an exit area, so it should be possible to enhance the exits.

It is not so much work, but at this moment I'm very busy and next week I'm on vacation. So I can release the statistic primary in some days.

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Dorschden,

Thank you very much for the code snippet. I am working on a strategy/dot/bar painter very similar to what you have in your code. It is basically a combination of the triple EMA dots along with PriceSwingRelation from your indicator to further qualify the MA signals (although I have been moving towards using a Jurik MA versus the triple EMA). Only paint/draw a "long" signal after a HH/HL or DB, and "short" signal after LH/LL or DT when the MA changes slope in the direction of PriceSwingRelation. But I have run into an issue, in that sometimes it will paint, sometimes it does not. Attached is a quick example from today's YM. It most certainly could be a problem with my "dots" code, and I will be working with it tonight to try and sort it out. Any suggestions? (I will run some replays and have my code Print the PriceSwingRelation dataseries as the bars and swings form.)

My basic code logic for longs is (opposite for shorts):

if (MA slope changes from falling to rising)
and (PriceSwingRelation > 0)
{ Paint blue Dot / Go Long }

Also, I see an isTrend() around line 426 of your indicator. Can you shed some light on this?

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  #11 (permalink)
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Pepperdog,

the problem is the logic for the PriceSwingRelation. Tomorrow I'll upload a new version, which should resolve this issue.

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  #12 (permalink)
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Dorschden,

Thanks for checking into it. After playing back some replays and Printing PriceSwingRelation [0], [1], [2], etc. I saw that using [0] was causing some problems for my if statement logic, so I first changed it to [1] which appears to have corrected the problem. Next I decided to code a temp variable in my strategy/indicator which tracks only when PriceSwingRelation changes from + to - or vice-versa, which also appears to correct the issue. But I look forward to any future versions!

I'd also like to add, your planned statistic add-on and cclsys' suggestions would be wonderful to see sometime in the future. While I am no great coder, I would offer to lend any help that I am able to.

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Pepperdog,

I'm glad that you resolved this issue for yourself, because I haven't found any time today to program the new logic. The next version comes in two weeks when I'm back at home.

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  #14 (permalink)
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dorschden View Post
Use this thread to discuss the PriceActionSwing indicator.

Download:


Feel free to write criticism or suggest improvements and modifications.

Attachment 4862

A small and a big PriceActionSwing
Attachment 4863

Dorschden,

Thanks you very much for this tool. It looks like a nice one. There are some things that I wanted to ask you about though. Would you please be kind and show me an example of an AB=CD plotted on the chart. I really can't find one.

And, would it be possible to only implement these four fib numbers:

0,618
0,786
1,270
1,168

(+ additional 0,38 and 0,85) These numbers are needed in case a swing only retraces 0,38 meaning that the move was fast, and 0,85 which can be used as the last retracement point, in order to validate if we're still in a retracement of the former move or, if we're on our way to change trend of the former swing.

I'll show you a picture of a nice AB = CD with these numbers:





So, in order to get a valid AB = CD, then the rules would be like this. (I lack programing knowledges, so I'll write it like an if and then rule)

If retracement of former swing = 0,618
then
Plot extension of 1,618


and the same would go for 0,786

If retracement of former swing = 0,786
then
Plot extension of 1,270

Now when I observe this indicator, while I'm writing these lines, (which is quite nice, because it has a very valuable ground to built further on) I see that the ABCD entry is based on plotting the retracement of the former Swing. I just came up with one idea, in case it woun't be possible to make it plot ABCD the correct way. Maybe if the plot would remain on the chart, then it would function as an visual aid, so that one can count the ABCD's manually. Meaning that it will be easier because we get to know the value of BC. That by itself means that we know what to expect from D.

Anyhow, this are just my thoughts on this indicator, in order to get it closer to Harmonic Trading.
Oh and one more thing, would it be possible to make the fib colors changeable?


Thank you!

/George

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  #15 (permalink)
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George View Post
Would you please be kind and show me an example of an AB=CD plotted on the chart. I really can't find one.

George,

the Fibonacci retracement/extension and the AB=CD entry area are only plotted for the last swing. Here is an example for the AB=CD pattern. You can see the Fibonacci Retracement and the entry area for AB=CD.

And here you see the target zone which is visualize with the Fibonacci extension.



George View Post
If retracement of former swing = 0,618
then
Plot extension of 1,618


and the same would go for 0,786

If retracement of former swing = 0,786
then
Plot extension of 1,270

In the next version I will add the letters above the swings and the retracement value. Furthermore I'll see whether I can visualize the AB=CD rules you mention. BTW thank you for the Harmonic Trading rules!


George View Post
Oh and one more thing, would it be possible to make the fib colors changeable?

The Fibonacci tools have the default settings from your NinjaTrader and for the entry area you can change the color in the Xtras category.

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  #16 (permalink)
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dorschden View Post
George,

the Fibonacci retracement/extension and the AB=CD entry area are only plotted for the last swing. Here is an example for the AB=CD pattern. You can see the Fibonacci Retracement and the entry area for AB=CD.
Attachment 5209
And here you see the target zone which is visualize with the Fibonacci extension.
Attachment 5210



In the next version I will add the letters above the swings and the retracement value. Furthermore I'll see whether I can visualize the AB=CD rules you mention. BTW thank you for the Harmonic Trading rules!



The Fibonacci tools have the default settings from your NinjaTrader and for the entry area you can change the color in the Xtras category.

Dorschden,

Thank you very much for the explanations, and the examples. The more I play with it, the more beautiful the tool gets. I like it very much! And thank you for the great work you've done with it.

If there's anything ragarding to HR, please let me know, I'll be happy to contribute within the content of my knowledges.

I look forward to the next version of this tool.

Happy Trading!

/George

PS: Regarding to the fib numbers, (,786 etc) I guess it's impossible to edit the defaults then, right?

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George View Post
PS: Regarding to the fib numbers, (,786 etc) I guess it's impossible to edit the defaults then, right?

George,

you must double click on a Fibonacci retracement then you get the "Fibonacci Retracement Properties" window and there you can set your personal settings for the retracement. After that you must push the "Set Default" button and then all your Fibonacci retracement have your personal settings. You can do the same with the Fibonacci extension.

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  #18 (permalink)
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dorschden View Post
George,

you must double click on a Fibonacci retracement then you get the "Fibonacci Retracement Properties" window and there you can set your personal settings for the retracement. After that you must push the "Set Default" button and then all your Fibonacci retracement have your personal settings. You can do the same with the Fibonacci retracement.
Attachment 5225


Dorschden,

Thanks a lot. I did that, but unfortunately it doesn't keep the changes to the next plot. I guess it's because NT, doesn't keep the changes as default, making the indicator keep on plotting the NT default fibs each time it plots a new swing.

But thanks anyway!

/George

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  #19 (permalink)
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Dorschden,

Can you explain to me how/when the swing becomes "fixed" at its location. i.e. if you want to link the swing indicator into a strategy, it becomes difficult as it can continue to move lower/higher after painting an initial marker - any thoughts on how this can be handled at a automated level or any indications in the values etc?

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Dorschden,

I've been having the indicator under observation for a while now. My impression of it is that it's a great tool. I would though like to ask you if it would be possible to make it plot the fib retracement as soon as the dot is plotted at the end of the swing.

The way it works now is by plotting the FIB retracement when the new swing is plotted. So, would it be possible to make it plot the FIB as soon as the swing is finished and the dot appears instead of waiting for the next swing to be plotted.

The advantages of this is that, you filter away a lot of clutter when the market is moving fast, and you get the FIB retracement on every swing.

Thank you in advance!
/George


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  #21 (permalink)
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Dorschden,

I asked Cory who was kind enough to do that for me! He implemented into his indicator (created and developed in the Elite Circle forum) FIB retracements in progress, which is exactly the solution I was looking for. His indicator also draws upper and lower lines connecting the dots together.

I like your AB-CD solution a lot, because it plots the square (it gives less clutter).
Now, Cory was kind and posted that Elite Circle indicator in the Download area in order to have his code used, in order to get that if needed.

Would you please have a look, and implement the ABCD square in progression.
Here's the link :


Thank you in advance!
/George

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  #22 (permalink)
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I'm assuming the square being plotted is the projected target area. If so, is the top of the square one of the pre-defined percentages while the bottom is another?

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  #23 (permalink)
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How can i get your swing H/L indicator with fibs ? I am not an elite member.(sorry)

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Market Wizard
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pravadacorp View Post
How can i get your swing H/L indicator with fibs ? I am not an elite member.(sorry)

Become an elite memeber.
It will be the best $20 you spend for a Christmas Gift for yourself.


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  #25 (permalink)
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quick question...wonderful indicator! it does seem to be repainting itself (when bar move progressively higher/lower). is there anyway to prevent this? any insight would be appreciated!
happy 2010 everyone!
regards
quasar

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  #26 (permalink)
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Nice Indicator - how many bars make up the swings 5??

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  #27 (permalink)
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It takes a long time for the new version, but I was in the vacation and after this I was very busy. But now the new version is ready. I uploaded it to the download section. (here).

I fixed some bugs in the standard version, now it works fine. For this reason I'll not support the ZigZag version any more. The new version have a nice statistic.


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Pepperdog View Post
Dorschden,

But I look forward to any future versions!

I'd also like to add, your planned statistic add-on and cclsys' suggestions would be wonderful to see sometime in the future.

Pepperdog,

the PriceSwingRelation data series with the information where price is in relation to the swings now works like it should and I add the statistic.



dnof View Post
Dorschden,

Can you explain to me how/when the swing becomes "fixed" at its location.

dnof ,

the swings become fix after the next low/high swing. The swing high is not fixed until the next swing low is find, because it is possible that the swing high rise higher.



George View Post
Dorschden,

So, would it be possible to make it plot the FIB as soon as the swing is finished and the dot appears instead of waiting for the next swing to be plotted.

George,

I added a fast Fibonacci retracement.

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hondo69 View Post
I'm assuming the square being plotted is the projected target area.

hondo,

the square is one of the possible entry areas for the AB=CD pattern. The targets can be set with the Fibonacci extensions.



pravadacorp View Post
How can i get your swing H/L indicator with fibs ? I am not an elite member.(sorry)

pravadacorp,

it is not necessary that you are an elite member. You can download the indicator with Fibonacci retracements in the download section, a link to this is in the first post of this thread. In the Xtras section of the indicator you have to set Fib retracement to true.



quasar View Post
it does seem to be repainting itself (when bar move progressively higher/lower). is there anyway to prevent this?

quasar,

I fixed the repainting in the new version. Thanks for reporting. I mainly use range bars and this problem never happen with range bars, because it is not possible with them to get a new high and low within one bar.



bsargent View Post
how many bars make up the swings 5??

bsargent,

a swing high is found, when the last x bars (Span parameter) are lower then the current bars high and for a swing low vice versa.

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dorschden View Post
Pepperdog,



George,

I added a fast Fibonacci retracement.

Dorschden,

Great work, especially the statistical stuff. Me myself I'm not going to get any use of this version because I'm using the zigzag version of it. But I just wanted to tell you that your work is impressive.

We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now.
Past performance is not indicative of future results.
/George
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  #31 (permalink)
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Thank you very much, Dorschden. This is the first visual tool I have added to my existing chart setup. I can see that it has already helped me a lot. I now have to maximize its potential use in my trading. I love zigzag based indicators and you have done a fantastic job with this PriceActionSwing.

YOU and :bmt-rocks:

Chris

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  #32 (permalink)
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Thanks for an interesting indicator. The statistics are especially interesting.. I think there could be some useful no-trade rules for stategies derived from them.

A question about the statistics... each type of HH, LH, etc is followed by a 4 statistics, which add up to more than 100% in total. How does this work exactly? Is it showing statistics for how likely that type is to be found in the next two swings?

Also would like to clarify what happens when the indicator repaints... what do the statistics show when a zig zig point is repainted and becomes part of a larger zig zag. Do the stats include these cases or are they only calculated from finished swings that are past the point of being repainted.

Thanks again

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  #33 (permalink)
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Hi Dorschden,

Can you explain to me what the 'DtbStrength' and 'Span' parameter settings do for the DT's and DB's?

I have tried playing around with them, but I am not sure which one is adjusting the changes on the chart.

I assume one of them is the minimum number of bars that have to occur between the two DT's or DB's - which parameter is doing this? And what does the other parameter do?

Thanks very much.

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  #34 (permalink)
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I'll upload in two or three weeks a new version with some new features and I'll re-add the ZigZagUTC version and a third mode to calculate the swings.


GoldStandard View Post
A question about the statistics... each type of HH, LH, etc is followed by a 4 statistics, which add up to more than 100% in total. How does this work exactly? Is it showing statistics for how likely that type is to be found in the next two swings?

Do the stats include these cases or are they only calculated from finished swings that are past the point of being repainted.

The new version should not add the statistics up to more than 100%. I think this happen now only when you add the indicator on a new empty chart. Press F5 to reload the indicator and than the statistic should work fine.
The 4 values after the HH, LH, etc show which swing is followed expressed in percentage.
The statistic only calculate from finished swings.


steve2222 View Post
Can you explain to me what the 'DtbStrength' and 'Span' parameter settings do for the DT's and DB's?

The 'Span' parameter represent how big the swings are and how often they occurred and the 'DtbStrength' property is for the DT's and DB's. With a smaller value it shows only swings as DT's or DB's that have the same swing price and with a greater value it shows swings as DT's or DB's also when the price is further away from the last swing.

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  #35 (permalink)
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Hello Dorschden,
Thank you for a lovely indicator. Unfortunately the Fib values on my chart seem to be be giving me the wrong values i.e. from top to bottom and I am also not getting values of extension of 1.27 or 1.618. I have tried all the alternatives of the Fib values in the indicator, but it does not show up correctly on the chart. What are your standard values

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perryg View Post
Unfortunately the Fib values on my chart seem to be be giving me the wrong values i.e. from top to bottom and I am also not getting values of extension of 1.27 or 1.618.

Hey perryg,
The Fib value parameters are only to visualize the AB=CD entry area which is normally between 61.8% and 76.4%. It represent the entry area from the last swing and not from the current swing. The Fib extension is the standard Ninjatrader drawing tool. To change the standard values of the fib extension see this post:


For example AB=CD Entry

Exit

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  #37 (permalink)
Rechovot
 
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Hi Dorschden,

Got it. I thought the extension was built-in into the indicator. Thanks. Looking forward to your new version. Good work

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  #38 (permalink)
Market Wizard
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Greetings,

I loaded the indicator in NT7.
It loads fine, however, it places it at the top of the indicator panel but does not put a name.

Is there a way to have the name display?
Kind of hard to know what it is with no name displayed.

Thanks

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DavidHP View Post
Is there a way to have the name display?

Hey DavidHP,

please delete in the PriceActionSwing.cs line 285.
 
Code
this. Name = "";

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  #40 (permalink)
virginia
 
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I have a suggestion for this fantastic indicator that you have created. Can you add volume count to the swings. For example: Up swing A = 3000 contracts/shares / Downswing B = 1000 contracts/shares. ?

I think the volume of swings can be used as a great measure of the strength of the swing. And warn us of potential trend reversals or pauses.

Here is a link to Ord Volume charts. That shows you sample charts of volume swings. You can also see how he uses this volume swing information in his trading. You might be able to implement some of these ideas in the NT7 version.

Ord Volume Chart Galleries

Thanks for all of your hard work on this indicator.

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  #41 (permalink)
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Here some additional information to help explain the concept of measuring volume in swings. And how one can use it to make trading decisions.

A trader can add up the volume between the swing high and low and divide by the number of days in that swing to determine the average daily volume in that swing to determine the force in that swing. Then one would have to repeat that process with other swings and make a comparience to the other swings to determine which way the force is pushing.

To pick the strongest stock (in up-trend), average daily volume should shrink near 50% on correction phase compared to the rally phase.

To pick the weakest stocks (in downtrend) average daily volume should shrink near 50% on up phase compared to the declining phase.

A buy signal is triggered when a stock closes above a previous important low, where the current "AVG Volume" low shrinks near 50% or greater against the first important low. An "important Low" is when that low marks a bottom where the equity starts a sideways consolidation.

A sell signal is triggered when a stock closes below a previous important high where the current "AVG Volume" high shrinks near 50% or greater against the Important High. An Important High" is when that high marks a top where the equity starts a sideways consolidation.

Target price Projections:
An upside target for a buy signal will be the previous "Swing High". If volume is equal or great on the test of the previous high then the next higher swing high will be the target and so on.

A downside target after a sell signal will be the previous "Swing Low". If volume is equal or greater then the previous "Swing Low" then the next lower swing will be the target and so on.

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  #42 (permalink)
virginia
 
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Here is a link to an article that shows this concept visually in a chart form.

https://www.ord-oracle.com/pdffiles/PriceVolume.pdf

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FR5050 View Post
I have a suggestion for this fantastic indicator that you have created. Can you add volume count to the swings. For example: Up swing A = 3000 contracts/shares / Downswing B = 1000 contracts/shares. ?

I think the volume of swings can be used as a great measure of the strength of the swing. And warn us of potential trend reversals or pauses.

FR5050, Thank you for this great suggestion. I'll implement some of this volume stuff in the next version.

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  #44 (permalink)
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I uploaded a new version (here). The ZigZagUTC mode is included again and a new mode that based on the parabolic stop and reverse (PSAR) indicator also included.

Now it's possible to show the complete volume of the swing and the duration.

I also added a second indicator called PriceActionSwingRelation. It shows the relation between price and swings. You can use it for other indicators or strategies. If PriceActionSwingRelation value is above 0 look for long entries because price made higher highs and higher lows or a double bottom - short vice versa.

PriceActionSwingRelation values:
-2 = DT
-1 = LL and LH
0 = price is nowhere
1 = HH and HL
2 = DB

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  #45 (permalink)
virginia
 
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Dorchden:


WOW! the upgrades you made are just fantastic. Thank you very much for doing them. Thank you especially for including the volume swing. I also love the new swing relation indicator.

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  #46 (permalink)
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Very nice. I wonder how the High Volatility will fare with this method.

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  #47 (permalink)
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Hallo Doschden
First of all a great compliment to your indicator.
Where can I find a detailled explanation for the Xtras Statistic Explanation on the TopLeft? Also how can I hidden it?
Further how can I change the colors and numbers for the Fibs? Your indicator don't take my default settings from my NT chart.
You can explain it also in German, I live in Switzerland.
Thanks
Heinz

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Ganymed View Post
Where can I find a detailled explanation for the Xtras Statistic Explanation on the TopLeft? Also how can I hidden it?
Further how can I change the colors and numbers for the Fibs? Your indicator don't take my default settings from my NT chart.

Hello Heinz,

I updated the first post of this thread there are some information about the indicator and an explanation of the statistic. You can hidden the statistic in the parameter list in the category "Xtras" and set the statistic entry to false.

All Fibonacci retracements and extensions should have the settings of your default ones from Ninjatrader. Make sure you save your settings after you change them in the NT retracement/extension window. Works fine by me in NT 6.5 and 7. See attached screenshot.

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  #49 (permalink)
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Dorschden, thanks for the answer, how to you get the arrows?
Heinz

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  #50 (permalink)
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yeah, that's pretty sweet, i like it. the thing with this is that there will be a natural tendency to have lower volume with fewer bars, so I wonder what the implications are if it takes 15 bars with total volume of 1500 to create a swing high, but 25 bars with total volume of 2000 bars to return to the swing high when the price is in a horizontal channel. total volume is higher, but average volume is lower, so is a breakout more or less likely? or maybe an ema volume with the period set at the number of bars in the current swing would be more informative. or an sma volume based upon the range of movement regardless of the number of bars for when it is not moving in a nice channel. hmmm, lots to think about.

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  #51 (permalink)
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Hello dorschden :

I was wondering if in your next release you could provide an option to display the "average swing volume" in the swings. What I mean is this:

Your indicator calculates the "volume" in a swing. It also calculates the "number of bars" in the swing.

Can you add an option to display : "Avg Swing Volume" = Swing Volume / number of bars in the swing.

Thank you.

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Ganymed View Post
Dorschden, how to you get the arrows?

Hello Heinz,

this was only a quick screenshot of one of my trading charts, so this arrows are discretionary and only show points of interest for me.

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  #53 (permalink)
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vegasfoster View Post
maybe an ema volume with the period set at the number of bars in the current swing would be more informative. or an sma volume based upon the range of movement regardless of the number of bars for when it is not moving in a nice channel.


FR5050 View Post
Can you add an option to display : "Avg Swing Volume" = Swing Volume / number of bars in the swing.

Hello vegasfoster and FR5050,

I add an option to show the relative volume swing. Download the new version (here).

Edit: NT7 bug fixed - now it works fine in NT7

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  #54 (permalink)
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Thanks man! I have been using it today with pretty good results. Until I have more practice reading it I have only been using it to determine when not to trade as opposed to using it as an entry signal, but so far it has kept me out of 2 bad trades. Good work.

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  #55 (permalink)
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Excellent information and indicator!! thanks for the suggestion. I'm not a programmer myself but I know of a few that I can use to play around with this idea. Great to run into this!

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Just out of curiosity guys , how do you take trades based on this indicator ? and what do all these values mean ?
Thank you for your time
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The average volume function is interesting... seems to sometimes work well for identifying low volume retracements. Similar concept to VSA but using swings instead of bars.

Looking back at a charts, low volume retracements seem to be worth noting, but since I'm looking at completed swings with 20/20 hindsight, I may be overestimating their usefulness.

A signal might go something like this:


1) a just-completed swing has a lower average volume than either of the previous 2 swings, and at least 30% less volume than the most recent swing in that same direction

2) the current unfinished swing has a higher average volume than the just-completed low volome swing

3) generate continuation signal in direction of current unfinished swing

Anyone else have thoughts or ideas about this?

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  #58 (permalink)
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I think sometimes you may get a clue about the potential trend reversal if you monitor volume at high nodes in uptrend (and vice versa for downtrend) ...... in the middle of your chart you have several highs with ~vol=4500 and the last high had 2800 .... at this point you may want to reconsider long trades until you get confirmation that uptrend is still live and kickin' .....

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Dorschden: Thank you very much for adding relative volume to the indicator. It looks great.


Goldstandard:

Check out my posts #41 and #42. Ord volume webisite has a lot of info on how to use the average volume of swings in trading.

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  #60 (permalink)
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Hi FR5050 - thanks for the reminder. Yes, Ord appears to be one of the first to talk about relative volume on swings. He doesn't seem to do a lot with the concept any more though, at least not in his recently posted charts and articles.

His criteria of re-testing an important hi/lo on less than 50% average volume seems to produce some OK setups according to the limited amount eyeball backtesting I have done reviewing charts, but it happens very infrequently.

I think measuring relative volume on swings could be useful in more situations, and on smaller timescales than Ord uses. Maybe not as a setup by itself, but perhaps as a filter in combination with other factors to identify good candidates for pullback trades.

I suspect that a low volume pullback swing followed by higher volume move in the trend direction would offer a measurable advantage, but it would take some coding to find out.

I was actually hoping I could entice Dorschden or another reader of this thread into adding this to PriceActionSwing so we could do some visual backtesting with it.

In any event, the volumes by themselves are useful. An extremely weak or strong average volume swing is definitely worth paying attention to.






FR5050 View Post
Dorschden: Thank you very much for adding relative volume to the indicator. It looks great.


Goldstandard:

Check out my posts #41 and #42. Ord volume webisite has a lot of info on how to use the average volume of swings in trading.


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  #61 (permalink)
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Paul Levine Midas system attached.

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  #62 (permalink)
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OK, attachment did not work. I have 15 PDF files. How do I do this?

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meyer99 View Post
OK, attachment did not work. I have 15 PDF files. How do I do this?

You can attach a PDF up to 20mb in size, and multiple PDF's per post. Make sure they are free (not commercial).

As for "did not work", you'll need to be more specific, such as an error message.

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Can I email them to you and you post them here?

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meyer99 View Post
Mike,
Can I email them to you and you post them here?

Why can't you attach them?

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I clicked on attachments, then I uploaded 5 files. Then I submitted the reply. Did I miss a step cause nothong got uploaded?

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meyer99 View Post
I clicked on attachments, then I uploaded 5 files. Then I submitted the reply. Did I miss a step cause nothong got uploaded?

Is each file less than 20MB? Is the extension .pdf? On the pop-up attachment box, it should either give you an error message when it's done --- which in that case we need that error msg --- or it will show the attached files and the file sizes next to them, underlined in blue. This means it worked. It's just like attaching a picture.

I can only assume:
1) The file isn't an allowed extension. All the allowed extensions are listed.
2) The file is bigger than what is allowed, although we have very generous limits so this probably isn't the case.
3) You didn't let it finish uploading.

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dorschden View Post
Hello vegasfoster and FR5050,

I add an option to show the relative volume swing. Download the new version (here).

Edit: NT7 bug fixed - now it works fine in NT7


Hello Dorschden,

This "here" link doesn't lead to the new version post location. Could you please check it?

Thanks,

Kirk

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zeller4 View Post
Hello Dorschden,

This "here" link doesn't lead to the new version post location. Could you please check it?

Thanks,

Kirk

After we split the Downloads section into NT 6.5 and NT7 sections, it unfortunately means old links to NT 6.5 indicators are broken. Sorry. I did everything I could think of to avoid it, but couldn't. You can find it using search.

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zeller4 View Post
Hello Dorschden,

This "here" link doesn't lead to the new version post location. Could you please check it?

Thanks,

Kirk

Hello Kirk,

try this one download PriceActionSwing.


Big Mike View Post
After we split the Downloads section into NT 6.5 and NT7 sections, it unfortunately means old links to NT 6.5 indicators are broken. Sorry. I did everything I could think of to avoid it, but couldn't. You can find it using search.

Mike

Hello Mike,

is it possible that you rename the zip file from ZigZagUTCSwing to PriceActionSwing? I know this is for updates, but it could confuse some people.

dorschden

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dorschden View Post

Hello Mike,

is it possible that you rename the zip file from ZigZagUTCSwing to PriceActionSwing? I know this is for updates, but it could confuse some people.

dorschden

Sure. Done.

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Big Mike View Post
Sure. Done.

Mike

Thanks a lot!

dorschden

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GoldStandard View Post
I suspect that a low volume pullback swing followed by higher volume move in the trend direction would offer a measurable advantage, but it would take some coding to find out.

I was actually hoping I could entice Dorschden or another reader of this thread into adding this to PriceActionSwing so we could do some visual backtesting with it.

Hello GoldStandard,

do you have some specific rules in mind for this? Or do you only mean if price makes HH and HL and the swing low have in comparison to the last swing low(s) a low volume then a signal should occur for a possible long entry?

If you have some rules then I maybe can implement them.

dorschden

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  #74 (permalink)
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Hi Dorschden

Thank you so much for sharing this amazing indicator. Ive just started playing around with it. really enjoying it especially the fibo expansions and retracement.

Just a suggestion, is it possible to have on "Swing Length" price/ticks/and bar count.


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  #75 (permalink)
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alex5000 View Post
is it possible to have on "Swing Length" price/ticks/and bar count

Hello Alex,

the right number beside the swing length is the bar count. You can switch on/off bar count ("Swing duration") in the visualize category. If you only want the bar count then set "Swing length" to "Nothing".

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  #76 (permalink)
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I love the Duration function.

What I'm suggesting is displaying 3 values price/tick/bar count all on one line

Thanks in advance

Alex

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alex5000 View Post
I love the Duration function.

What I'm suggesting is displaying 3 values price/tick/bar count all on one line

Thanks in advance

Alex

Oh, I misunderstood you in the first place. I'll add this option in the next update.

dorschden

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  #78 (permalink)
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Thank you so much

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Hi Dorschden

I'm thrilled to find your thread tonight. Went through it once and will certainly read it again over the weekend. I started learning Price Action (incl labelling my charts) weeks ago. Your amazing indicators will certainly speed up my learning path! Thank You!

I will try to automate the PriceActionSwingRelation indicator .. seems do-able. Will knock at your door if I encounter any technical issues. My trillion thanks again for sharing your wisdom and trading tools with us.

Beth

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dorschden View Post
Oh, I misunderstood you in the first place. I'll add this option in the next update.

dorschden

Dorschden,

Thank you. Great work.

I think the last poster made an interesting suggestion in regards to tick/price/time.

Thank you again.

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Hi Dorschden

I followed Post #7 and tried to add your PA indicator to my strategy as Exit. Got an error message "No overload for method 'PriceActionSwing' takes '3' arguments" when I tried to compile. Appreciate your kind suggestion on how to fix my code (as follows) and what I did wrong. Thank you.

Beth

 
Code
 
//Exit Condition based on PA Swing
if (PriceActionSwing(pAS_SwingMode, pAS_DtbStrength, pAS_Span).PriceSwingRelation[0] == -1
&& CrossBelow(SMA(3), SMA(7), 1))
{
ExitLong();
}

if (PriceActionSwing(pAS_SwingMode, pAS_DtbStrength, pAS_Span).PriceSwingRelation[0] == 1
&& CrossAbove(SMA(3), SMA(7),1))
{
ExitShort();
}

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alex5000 View Post
Just a suggestion, is it possible to have on "Swing Length" price/ticks/and bar count.

Hello Alex,

I upload a new version and add your suggestion. Download the new version (here).

I also displaced the statistic from the chart to a text box panel. This works only in NT7. In NT6.5 the statistic is still on the chart.



dorschden

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  #83 (permalink)
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thank you so much dorschden

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wgreenie View Post
I will try to automate the PriceActionSwingRelation indicator .. seems do-able. Will knock at your door if I encounter any technical issues.


wgreenie View Post
Got an error message "No overload for method 'PriceActionSwing' takes '3' arguments" when I tried to compile.

Hello Beth,

the old code snippet isn't fully correct because I change the parameter number.

Try the following code (NT7 only). I didn't test it, but it should work. Don't hesitate to ask if you encounter some issues. I'll try to help if I can.

For you automatization you can also use the new UpFlip[0] series to get the information when the swing is change from low to high (DownFlip vice versa). For access use the same code and replace PriceSwingRelation with UpFlip.


 
Code
                            
#region Using declarations

using PriceActionSwing.Utility;
#endregion

#region Variables
private SwingMode calcMode SwingMode.Standard;
private 
int calcSize 8;
private 
int dtbStrength 15;
private 
double psarAcceleration    0.02;
private 
double psarAccelerationMax 0.2;
private 
double psarAccelerationStep0.02;

private 
IDataSeries     priceSwingRel;
#endregion


protected override void OnStartUp()
{
  
// Set the PriceActionSwingRelation value to to the priceSwingRel series
  
priceSwingRel PriceActionSwing(InputcalcModecalcSizedtbStrength,
    
psarAccelerationpsarAccelerationMaxpsarAccelerationStep).PriceSwingRelation;
}

protected 
override void OnBarUpdate()
{
  
//Exit Condition based on PA Swing
  
if (priceSwingRel[0] == -&& CrossBelow(SMA(3), SMA(7), 1))
  {
    
ExitLong();
  }

dorschden

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dorschden View Post
Don't hesitate to ask if you encounter some issues. I'll try to help if I can.

Hi Dorschden

Your prompt response has made my weekend. Thank you!

I tried the suggested code and did compile the strategy successfully. Unfortunately the revised strategy does not trigger any trades. FYI: Without the PA Swing code, the strategy does trigger trades. Well, I must have done something wrong ..

I will do some investigation first before bothering you again. For sure, you will hear from me if I have a big head after hours of getting no-where ...

Beth

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wgreenie View Post

I tried the suggested code and did compile the strategy successfully. Unfortunately the revised strategy does not trigger any trades. FYI: Without the PA Swing code, the strategy does trigger trades.

Hey Beth,

if you use NT7 then you can use the edited code above. You have to use the OnStartUp() method to initialize the priceSwingRel series. If you use NT6.5 then the following code works. It's not the best performance solution but it works.

 
Code
                            
if (PriceActionSwing(calcModecalcSizedtbStrengthpsarAccelerationpsarAccelerationMax,

    
psarAccelerationStep).PriceSwingRelation[0] == -&& CrossBelow(SMA(3), SMA(7), 1))
{
  
ExitLong();


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  #87 (permalink)
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Hi Dorschden

I used your latest suggestion to create a PA Swing strategy. Compiled successfully and it generated trades too. Thank you! Hey, You Rock!!

Now I will go through the trades and see how can I improve the strategy so that it will be profitable.

Beth (grateful)

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Hi Dorschden

Need to pick your brains please. How can I add text label (HH/HL/LL/LH/DB/DT) in addition to the dots? Is it easy to learn how to code it? Appreciate your guidance. Thank you.

FYI: I succeeded in adding an Exit condition (PA Swing Rel = 1 or -1 and SMA crossover) to an existing strategy that I have been sim-trading. It really helps! My heartfelt thanks again for your sharing and assistance.

Have a Successful week.

Beth

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wgreenie View Post
How can I add text label (HH/HL/LL/LH/DB/DT) in addition to the dots?

Hey Beth,

I upload a new version and add swing labels (Download here). I thought the dot colors were enough, but the swing labels make it more visible.

Good to hear that the indicator help you with your exit conditions in the strategy.

dorschden


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dorschden View Post
I upload a new version and add swing labels (Download here). I thought the dot colors were enough, but the swing labels make it more visible.

Hi Dorschden

You're a "peach"!! I learned from my Western peers that it's a good compliment for one who's extraordinarily Nice - YOU!! Thank you.

For a PA newbie (me), the swing labels help a lot LOL!

Beth (grateful)

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the coin hunter
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looks like a gatley

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Hi Cory

Your "Clock Timer" indicator looks interesting. How does it work and where can I find it please? Thank you.

Beth

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Hi Dorschden

I really like your PA Swing indicators!!

I'm playing with it to create a DT/DB strategy, ie replacing the suggested code "PriceSwingRelation" with "DoubleBottom" and "DoubleTop". Instead of triggering minimal trades based on DoubleBottom and DoubleTop, lots of other trades were triggered!? Guess I must have coded it wrong and appreciate your guidance. Thank you.

Beth


 
Code
if (PriceActionSwing(calcMode, calcSize, dtbStrength, psarAcceleration, psarAccelerationMax, 
psarAccelerationStep).DoubleBottom[0] >0)
{
debug ("Entering Long");
EnterLong(longEntryID);
DrawArrowUp("Long" + CurrentBar, true, 0, Low[0] - (4*TickSize), Color.Lime);
}


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  #94 (permalink)
the coin hunter
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wgreenie View Post
Hi Cory

Your "Clock Timer" indicator looks interesting. How does it work and where can I find it please? Thank you.

Beth

the top line is a normal clock , the second line count time the time remain of a time bar you can adjust the font for them separately

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  #95 (permalink)
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cory View Post
the top line is a normal clock , the second line count time the time remain of a time bar you can adjust the font for them separately

Thanks Cory for your swift sharing of the Clock Timer indicator!!

Beth

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  #96 (permalink)
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cory View Post
looks like a gatley

Hey Cory,

it's almost a perfect gartley, but I think the first swing low have to be lower as the second one. Anyway you make some $ with it

I automate some pattern recognition with the PAS indicator. I really like to trade pattern like this one. Maybe I make the pattern recognition public, but for now I'm not sure about this.

dorschden

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  #97 (permalink)
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wgreenie View Post
I'm playing with it to create a DT/DB strategy, ie replacing the suggested code "PriceSwingRelation" with "DoubleBottom" and "DoubleTop". Instead of triggering minimal trades based on DoubleBottom and DoubleTop, lots of other trades were triggered!? Guess I must have coded it wrong and appreciate your guidance.

Hey Beth,

you must agian use the "PriceSwingRelation" and test if the value is "2" for a double bottom. You can then immediately enter the trade or you can wait until the double bottom is finished. For this you have to check for an upflip. Double top: "PriceSwingRelation[0] == -2" and "DnFlip[0] == true".
See the following code for a double bottom (not tested, but should work).

dorschden

 
Code
                            
if (PriceActionSwing(calcModecalcSizedtbStrengthpsarAcceleration,

    
psarAccelerationMaxpsarAccelerationStep).PriceSwingRelation[0] == 
    
&& PriceActionSwing(calcModecalcSizedtbStrengthpsarAcceleration,
    
psarAccelerationMaxpsarAccelerationStep).UpFlip[0] == true)
{
  
debug ("Entering Long");
  
EnterLong(longEntryID);
  
DrawArrowUp("Long" CurrentBartrue0Low[0] - (4*TickSize), Color.Lime);


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  #98 (permalink)
the coin hunter
virginia
 
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dorschden View Post
Hey Cory,

it's almost a perfect gartley, but I think the first swing low have to be lower as the second one. Anyway you make some $ with it

I automate some pattern recognition with the PAS indicator. I really like to trade pattern like this one. Maybe I make the pattern recognition public, but for now I'm not sure about this.

dorschden

i just eyeball them any pattern with 2 triangle looks like a gatley to me, here is one use fib ext, trigger a long when it passes 38%

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  #99 (permalink)
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dorschden View Post
Hey Beth,

you must agian use the "PriceSwingRelation" and test if the value is "2" for a double bottom. You can then immediately enter the trade or you can wait until the double bottom is finished. For this you have to check for an upflip. Double top: "PriceSwingRelation[0] == -2" and "DnFlip[0] == true".

Thanks Dorschden! I tried PriceSwingRelation[0] == -2/2 before the DoubleTop/DoubleBottom attempt. Did not work the way I wanted. Maybe the UpFlip/DnFlip will do the trick. I will try again. My trilion .. trillion .. thanks again for your super-mega prompt response.

Beth (grateful)

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  #100 (permalink)
Cambridge, Ontario
 
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Trading: 6E
 
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Thanks: 1,258 given, 1,202 received

Hi Dorschden

Just a crispy note confirming your suggested code works like magic (as always)! Thank you.

Beth

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