AccumSwingIndex (Function)

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The AccumSwingIndex series function calculates the accumulation swing index based on a running total of the SwingIndex function value.

Syntax

AccumSwingIndex

Returns (Double)

A positive or negative number between -100 and 100 for the current bar.

Parameters

None.

Remarks

The SwingIndex function was developed to help cut through the maze of Open, High, Low and Close prices to indicate the real strength and direction of the market. The SwingIndexfunction looks at the Open, High, Low, and Close values for a two-bar period.

The Swing Index uses DailyLimit as a weighting factor to set the upper and lower limits of the calculation. Since DailyLimit is the most a futures price may fluctuate in a day, this calculation generally applies only to futures securities.

This is a cumulative calculation type function, meaning that the current bar’s value for this function is based on the values of all previous bars.

AccumSwingIndex is normally applied to a futures symbol.

Example

Assigns the AccumSwingIndex value to Value1, then plots Value1:

Value1 = AccumSwingIndex;

Plot1(Value1, "AccSwng");

Reference

Wilder, Welles, Jr. New Concepts in Technical Trading Systems. Trend Research. McLeansville, NC.