- Topics: 66
- Replies: 594
- Posts: 660
You can create formulas for any swing value. When added to a watchlist column the following will give the % value of the current swing relative to the previous swing in the same direction (ie up swing or down swing).
//Define swing criteria;
GS1 = GANNSWING(SWINGCOUNT=3, METHOD=Use Next Bar);
//Get current swing range;
R1 = SWINGEND(GS1) - SWINGSTART(GS1);
//Get previous (same direction) swing range;
R2 = SWINGEND(GS1) - SWINGSTART(GS1);
So GS is currently 99.07% of the previous swing up (confirmed with the Price Extension P/X label on the overlay tool).
Make the formula into a true/false Boolean and you can then use it in a scan, eg swing ranges within a ±2% tolerance:
R3 = R1/R2;
R3 > 0.98 and R3 < 1.02
This scan of the S&P500 shows these 6 as of Monday’s close: