About Swing Pivots
Swing Pivots — part of the DS Essentials package — is a price swing measurement tool that is implemented as an overlay in Technician. It is similar in many ways to the popular ZigZag indicator with some useful features added.
With Swing Pivots you can define swings using a minimum percent move or a minimum point move. It also has an ATR Multiple option (the default mode of operation) which automatically calculates the correct swing size for the security and bar interval that you are using based upon current volatility which makes the indicator very flexible. In this mode you can fine-tune the swings by adjusting the ATR Multiple value (the default is 2.5 ATRs). For each swing, additional information is provided:
- Price: The price value of the swing high or swing low.
- Volume: The total volume accumulated during the swing move.
- Bars: The number of price bars that comprise the swing.
- Retracement: The percent retracement of the swing relative to the prior swing.
Swing Pivots will run on any bar interval/custom period available in Technician.
The full Swing Pivots user guide can be found on the Divergence Software website here: http://www.sr-analyst.com/ChartIQHelp/index.html
It should not be assumed that past performance is any guarantee of future results. Results obtained from the use of the DS Essentials Indicator Collection for ChartIQ indicators or any information provided in this User Guide are not guaranteed to be profitable. It should be understood that investing or speculating in the financial markets involves risk and may result in either a partial or total loss of one’s investment capital. The information presented in this User Guide is believed to be reliable, but cannot be guaranteed as to its accuracy or completeness.
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