Time Counts and Swings

As per this Twitter chart: https://twitter.com/Optuma/status/1689085580372836352?s=20

To count the bars since the last swing high or low can be tricky as we only know the swing values when they have been confirmed, so when a swing hasn’t been confirmed we need to use a trick to convert SwingList data to BarList (see Mathew’s post here for a dive in to SwingLists and BarLists).

Also, with swings - whether Gann, Percent, or Volatility - the direction of the current swing is important so we know whether to count from a high or low. This will count from the previous confirmed swing high or low:

//Setup Swing parameters;
//Get swing direction and convert SwingList to BarList;
Up1 = SWINGUP(S1) and CLOSE()>0;
//Get Swing values and timecounts;
//Display values depending on swing direction;
IF(Up1, SwingHi, SwingLo)

In the example below, $KO has not moved more than 10% from the most recent swing high of $64.99 in 73 days, or since April 24th, and is currently 6.26% below that high. $CVX is currently in a downswing, so the timecount is 46 days from the last swing low, and is currently trading at 6.6% above (or 3.4% below the level required to turn the swing upward.

Workbook attached.

Time-Counts-and-Swings.owb (36.4 KB)

It is probably my inexperience with scripting, but how does the column use the script. I do not not see a script attached to the column

Hi Paul,

After right-clicking on the column header, click on the Edit Script option to open the Script Editor window. Check out the scripting tutorial videos here to learn more about the power of scripting: