Gann Swing Retracement Scan

Optuma Forums Optuma Scripting Gann Swing Retracement Scan

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    Darren
    Darren
    • Topics: 24
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    The following formula will calculate when the current Gann Swing is at 50% of the previous swing (with a 2.5% tolerance either side). Because it will depend if the current swing is pointing up or down we will need a script for both conditions.

    50% retracement up from previous swing low:

    50% retracement down from a previous swing high:

    When executed as a scan (both criteria can be added in the scan setup using ‘Or’) the results can be exported as a watchlist, and custom columns added. In this example only two stocks in my universe have retraced down from a high (DIN & SHAK) whilst the others are 50% above the low:

    Capture

    To change the retracement levels adjust the values in R1 and R2 variables, so for 38.2% retracements you would change the tolerance to something like 0.588 and 0.648 (this is calculated by 1 – 0.382, + and – 3%).

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