New Percent Swing Highs/Lows

Optuma Forums Optuma Scripting New Percent Swing Highs/Lows

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  • #62991
    Darren
    • Topics: 71
    • Replies: 880
    • Posts: 951

    The Percent Swing Overlay tool can be used to show when a stock has moved X% from a high or low, making it easy to see turns in the market. Using the PERCENTSWING() function we can create a scan to show when the current swing crosses above (or below) the previous swing value, ie making a new high or a lower low.

    This example is based on 10% swings:

    When this scan was run there were 14 new swing highs and only one new swing low (click here to see how to automatically update watchlists with scan results). ALK crossed above the previous swing high of $68.99, with a new swing high value of $72.62, up from $68.88 the day before:

    Capture

     

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    #66163
    Darren
    • Topics: 71
    • Replies: 880
    • Posts: 951

    This formula identifies when the percent swing changes direction (as see here: https://twitter.com/Optuma/status/1442816609656127493?s=20).

    Link the scan results to a watchlist (see this video) and add these for the columns:

    Swing direction:

    Swing Trend direction:

    Once added the columns need formatting to display the labels and colours:

    Capture

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