This indicator precisely calculates and plots swings that exceed a certain size.

Unlike the Zigzag Indicator, it does not have to wait a number of bars to determine a swing and it does not lag. As soon as the minimum swing size is reached it is plotted on the chart.

Optionally number of bars in the swing and the swing High/Low prices (extremes) can be viewed on the chart.

Changing Minimum Swing Size

The minimum swing size is changed easily from the panel on the bottom left of the chart. (You do not have to go to Indicator List/Edit Indicator road.)

Minimum swing size is manually edited on the chart, or better with the help of the Auto UP/ Auto DOWN buttons the indicator will instantly find the next swing size to eliminate/create swings.

Up/Down buttons will increase/decrease minimum swing size by 1 tick.

Auto UP/Auto DOWN buttons will increase/decrease minimum swing size automatically by 1 tick until a new swing is generated (Auto DOWN button) or the smallest swing is eliminated (Auto UP button). For practical purposes those buttons search for the last 4 swings.

Indicator parameters

The parameters are fairly easy to understand.

• Show_Price_Levels - when set to true, Swing extreme prices are printed on the chart
• Show_No_of_Bars - when set to true, the number of bars from the last swing extreme is printed on the chart
• Swing_Font - you can choose the font for the swing size, and the number of bars between swing extremes printed on the chart. Please make sure that you write the font name correctly and the font exists in your system.
• Swing_Font_Size - font size for the swing magnitude and number of bars between swing extremes
• Swing_Font_Color- select the color for the swing sizes and number of bars between swing extremes printed on the chart
• Price_Level_Font - you can select a different font for the swing extreme prices printed on the chart. Please make sure that you write the font name correctly and the font exists in your system.
• Price_Level_Font_Size - font size for the swing extreme prices printed on the chart
• Price Color - select the color for the swing extreme prices printed on the chart