Inputs:
HiPrice( close ), // price field for high swings
LoPrice( close ), // price field for low swings
RetraceMethod( 1 ), // 1=Pnt, 2=%, 3=
ATR, 4=UTC
Period( 2 ), // number of bars over which ATR or UTC is calculated
Retrace( 0 ), // retracement in Pnt, % or ATR multiple
PlotVolume( true ), // plots swing volume histogram
PlotSwings( true ), // plots ZigZag lines
PlotVolumeText( true ), // plots swing volume text of up/down swing at swing high/low
AvgVolume( false ), // shows average swing volume text in stead of cumulative swing volume text
ScaleVolumeBy( 1 ), // divides cumulative volume text by the number of this input
PlotPriceText( false ), // plots price change of up/down swing at swing high/low
PlotTimeText( false ), // plots duration of up/down swing at swing high/low
LineWidth( 0 ), // line width of ZigZag lines: 0,1,2,3,4,5,6
LineStyle( tool_solid), // line style of ZigZag lines: tool_solid, tool_dotted, tool_dashed, tool_dashed2, tool_dashed3
UpColor( red ), // line color of upswings: PowerLanguage colors
DnColor( red ), // line color of downswings: PowerLanguage colors
TextColor( white ), // text color: PowerLanguage colors
dis(3); //distance of text frome the high/low, added by Qin H Jia 20171213
Vars:
dailyTF( false ),
dir( 0 ),
hi( HiPrice ),
lo( LoPrice ),
lastLoBar( 1 ),
lastHiBar( 1 ),
lastHi( HiPrice ),
lastLo( LoPrice ),
swingHiCondition( false ),
swingLoCondition( false ),
vol( 0 ),
volUp( 0 ),
volDn( 0 ),
barsBack( 0 ),
x( 0 ),
tl( 0 ),
plotText( "" ),var1(-99),var2(-99),
waveTxt(0 );
// Initialize variables
dailyTF = BarType >= 2 and BarType < 5;
hi = iff( RetraceMethod = 4, Highest( HiPrice, Period ), HiPrice );
lo = iff( RetraceMethod = 4, Lowest( LoPrice, Period ), LoPrice );
vol = iff( dailyTF, Volume, Ticks );
// set initial trend direction (dir will become non-zero after the first couple of bars)
if dir = 0 then
begin
if hi[0] > lastHi then // higher high
begin
lastHi = hi[0];
lastHiBar = CurrentBar;
if lo[0] > lo[1] then // higher low
dir = 1; // initial trend direction is up
end;
if lo[0] < lastLo then // lower low
begin
lastLo = lo[0];
lastLoBar = CurrentBar;
if hi[0] < hi[1] then // lower high
dir = -1; // initial trend direction is down
end;
end;
// look for swing
points and draw lines
if dir > 0 then // trend is up, look for new swing high
begin
if RetraceMethod = 1 then swingHiCondition = lo[0] < lastHi - Retrace; // condition for swing high pnt
if RetraceMethod = 2 then swingHiCondition = lo[0] < lastHi * (1 - Retrace * 0.01 ); // condition for swing high %
if RetraceMethod = 3 then swingHiCondition = lo[0] < lastHi - ( Retrace * AvgTrueRange( Period ) ); // condition for swing high ATR
if RetraceMethod = 4 then swingHiCondition = hi[0] < lastHi and lo[0] < lo[1]; // condition for swing high UTC
if not swingHiCondition then
begin
if hi[0] >= lastHi then // found an equal high or higher high
begin
lastHi = hi[0];
lastHiBar = CurrentBar;
end;
// update cumulative volume of upswing
volUp = 0;
barsBack = ( CurrentBar - lastLoBar - 1 );
for x = barsBack downto 0
begin
volUp = volUp + vol[x];
{if PlotVolume then
begin
NoPlot[x]( 2 );
Plot1[x]( VolUp, "Volume Up" );
end;}
end;
// update current upswing line and text from lastLoBar
if PlotSwings then
begin
{if AvgVolume and ( lastHiBar - lastLoBar ) <> 0 then volUp = volUp / ( lastHiBar - lastLoBar );}
if tl_exist(tl) then TL_SetEnd( tl, date[0],time[0], lastHi );
end;
plotText = NumToSTr( volUp / ScaleVolumeBy, 0 );print;
if text_exist(wavetxt) then Text_SetLocation( waveTxt, date[0],time[0], High[0]+dis);
if text_exist(wavetxt) then Text_SetString( waveTxt, plotText );
end
else if swingHiCondition then // found a swing high
begin
// update cumulative volume of upswing
volUp = 0;
barsBack = ( CurrentBar - lastLoBar - 1 );
for x = barsBack downto ( CurrentBar - lastHiBar )
begin
volUp = volUp + vol[x];
{if PlotVolume thena
begin
NoPlot[x]( 2 );
Plot1[x]( VolUp, "Volume Up" );
end;}
end;
// update current upswing line from lastLoBar
if PlotSwings then
begin
{if AvgVolume and ( lastHiBar - lastLoBar ) <> 0 then volUp = volUp / ( lastHiBar - lastLoBar );}
if tl_exist(tl) then TL_SetEnd( tl, date[CurrentBar - lastloBar],time[CurrentBar - lastHiBar], lastHi );
end;
plotText = NumToSTr( volUp / ScaleVolumeBy,0){NumToSTr( volUp / ScaleVolumeBy, 0 )} ;
if text_exist(wavetxt) then Text_SetLocation( waveTxt, date[CurrentBar - lastloBar],time[CurrentBar - lastHiBar], High[CurrentBar - lastHiBar]+dis );
if text_exist(wavetxt) then Text_SetString( waveTxt, plotText );
dir = -1; // trend direction is now down
lastLo = lo[0];
lastLoBar = CurrentBar; // now seeking new lows
volDn = 0;
barsBack = ( CurrentBar - lastHiBar - 1 );
for x = barsBack downto 0
begin
volDn = volDn + vol[x];
{if PlotVolume then
begin
NoPlot[x]( 1 );
Plot2[x]( VolDn, "Volume Down" );
end;}
end;
if PlotSwings then // start new trendline from new swing high to most recent low
begin
{if AvgVolume and ( lastLoBar - lastHiBar ) <> 0 then volDn = volDn / ( lastLoBar - lastHiBar );}
tl = TL_New( date[CurrentBar - lastloBar],time[CurrentBar - lastHiBar], lastHi, date[CurrentBar - lastloBar],time[CurrentBar - lastLoBar], lastLo );
TL_SetExtLeft( tl, false );
TL_SetExtRight( tl, false );
TL_SetSize( tl, LineWidth );
TL_SetStyle( tl, LineStyle );
TL_SetColor( tl, DnColor );
end;
plotText =
iffString( PlotVolumeText, NumToSTr( volDn / ScaleVolumeBy, 0 ), "" ) ;
waveTxt = Text_New( date[CurrentBar - lastloBar],time[CurrentBar - lastLoBar], Low[CurrentBar - lastLoBar], plotText );
Text_SetStyle( waveTxt, 2, 0 );
{Text_SetSize( waveTxt, 8 );}
Text_SetColor( waveTxt, TextColor );
end;
end
else
begin // dir < 0, trend is down, look for new swing low
if RetraceMethod = 1 then swingLoCondition = hi[0] > lastLo + Retrace; // condition for swing low pnt
if RetraceMethod = 2 then swingLoCondition = hi[0] > lastLo * (1 + Retrace * 0.01 ); // condition for swing low %
if RetraceMethod = 3 then swingLoCondition = hi[0] > lastLo + ( Retrace * AvgTrueRange( Period ) ); // condition for swing low ATR
if RetraceMethod = 4 then swingLoCondition = lo[0] > lastLo and hi[0] > hi[1]; // condition for swing low UTC
if not swingLoCondition then
begin
if lo[0] <= lastLo then // found an equal low or lower low
begin
lastLo = lo[0];
lastLoBar = CurrentBar;
end;
// update cumulative volume of downswing
volDn = 0;
barsBack = ( CurrentBar - lastHiBar - 1 );
for x = barsBack downto 0
begin
volDn = volDn + vol[x];
{if PlotVolume then
begin
NoPlot[x]( 1 );
Plot2[x]( VolDn, "Volume Down" );
end;}
end;
// update current downswing line and text from lastHiBar
if PlotSwings then
begin
{if AvgVolume and ( lastLoBar - lastHiBar ) <> 0 then volDn = volDn / ( lastLoBar - lastHiBar );}
if tl_exist(tl) then TL_SetEnd( tl, date[0],time[0], lastLo );
end;
plotText =
iffString( PlotVolumeText, NumToSTr( volDn / ScaleVolumeBy, 0 ) + NewLine, "" ) ;
if text_exist(wavetxt) then Text_SetLocation( waveTxt, date[0],time[0], Low[0]-dis );
if text_exist(wavetxt) then Text_SetString( waveTxt, plotText );
end
else if swingLoCondition then // found a swing low
begin
// update cumulative volume of downswing
volDn = 0;
barsBack = ( CurrentBar - lastHiBar - 1 );
for x = barsBack downto ( CurrentBar - lastLoBar )
begin
volDn = volDn + vol[x];
{if PlotVolume then
begin
NoPlot[x]( 1 );
Plot2[x]( VolDn, "Volume Down" );
end;}
end;
// update current downswing line from lastHiBar
if PlotSwings then
begin
{if AvgVolume and ( lastLoBar - lastHiBar ) <> 0 then volDn = volDn / ( lastLoBar - lastHiBar );}
if tl_exist(tl) then TL_SetEnd( tl, date[CurrentBar - lastloBar],time[CurrentBar - lastLoBar], lastLo);
end;
plotText =
iffString( PlotVolumeText, NumToSTr( volDn / ScaleVolumeBy, 0 ) + NewLine, "" ) ;
if text_exist(wavetxt) then Text_SetLocation( waveTxt, date[CurrentBar - lastloBar],time[CurrentBar - lastLoBar], Low[CurrentBar - lastLoBar]-dis);
if text_exist(wavetxt) then Text_SetString( waveTxt, plotText );
dir = 1; // trend direction is now up
lastHi = hi[0];
lastHiBar = CurrentBar; // now seeking new highs
volUp = 0;
barsBack = ( CurrentBar - lastLoBar - 1 );
for x = barsBack downto 0
begin
volUp = volUp + vol[x];
{if PlotVolume then
begin
Plot1[x]( VolUp, "Volume Up" );
NoPlot[x]( 2 );
end;}
end;
if PlotSwings then // start new trendline from new swing low to most recent high
begin
if AvgVolume and ( lastHiBar - lastLoBar ) <> 0 then volUp = volUp / ( lastHiBar - lastLoBar );
tl = TL_New( date[CurrentBar - lastloBar],time[CurrentBar - lastLoBar], lastLo, date[CurrentBar - lastloBar],time[CurrentBar - lastHiBar], lastHi );
TL_SetExtLeft( tl, false );
TL_SetExtRight( tl, false );
TL_SetSize( tl, LineWidth );
TL_SetStyle( tl, LineStyle );
TL_SetColor( tl, UpColor );
end;
plotText =
NumToSTr( volUp / ScaleVolumeBy, 0 );
waveTxt = Text_New( date[CurrentBar - lastloBar],time[CurrentBar - lastHiBar], High[CurrentBar - lastHiBar], plotText );
Text_SetStyle( waveTxt, 2, 1 );
{Text_SetSize( waveTxt, 8 );}
Text_SetColor( waveTxt, TextColor );
end;
end;
