Category: Indicator > Swing Identificator
The Swing Index indicator assigns a Swing Index value from 0 to 100 for an up bar and 0 to -100 for a down bar. This indicator uses the current bar’s Open, High, Low, and Close as well as the previous bar’s Open and Close to calculate the Swing Index values.
If the Swing Index crosses over 0, a short-term price increase is likely. Conversely, a cross below 0 suggests a decline in market price. A larger or smaller swing index value indicates the severity of the market’s increase or decline in price.
IF PLOT1 CROSSES OVER 0 THEN
ALERT("THE SWING INDEX HAS CROSSED OVER ZERO")
IF PLOT1 CROSSES UNDER 0 THEN
ALERT("THE SWING INDEX HAS CROSSED UNDER ZERO");