These swings highlight changes in trend based on a price move that exceeds the minimum amount of Average True Range (ATR), eg a 1 ATR Volatility Swing would change trend direction each time the security retraced by 1 ATR. ATRs are a standard way of measuring volatility and by using this method, we have swings thresholds that are calculated on a per security basis and even adapt to new volatility in the security. For instance, in times of high volatility, a move up will require a greater retracement to signal a change in trend.
To add the tool to your chart, select the tool from the Optuma Extreme Tools tool group, and left-click on the chart or indicator on which you wish to add the tool. Optuma will then draw the tool using the default settings.
Scripting Function: VOLATILITYSWINGS()
Actions & Properties
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Volatility Swings tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Volatility Swings tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Volatility Swings to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structures Panel.
ATR Period: Number of bars to use to calculate the price level of the trailing stop.
Swing ATRs: Allows you to adjust the number of ATRs required for the swing to turn.
Draw Style: Allows you to adjust how the tool is presented on the chart. The options available are Point to Point and Boxed.
Colour Style: Select from Up/Down, Trend, or Unconfirmed.
Line Style: Allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows you to edit the width of the volatility swings. Moving the slider to the right will increase the width of the tool.
Up Colour: Sets the colour of the tool when the swing is moving up. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Down Colour: Sets the colour of the tool when the swing is moving down. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Unconfirmed Colour: When Colour Style is set to Unconfirmed, allows you to set the colour of the tool when the swing is unconfirmed. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Show Labels: When checked, this property will show the labels at the pivot points of the volatility swings.
Text Size: Use this slider bar to adjust the size of the label text. Moving the slider to the right will increase the size of the text.
Text Colour:** Allows you to adjust the colour of the label text.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.