Why is this important? As discussed in the other articles, swing charts make it easy to see trends and strength in the market, so these formulas can help you quickly and easily find particular setups based on changes in trend.

Let’s start off by finding the previous swing values using the SWINGSTART function and offsets. 

When looking at swing values it’s important to know the current swing direction.

This means that the same script can return different results if the current direction isn’t taken into consideration. If the current swing is up, then the SwingStart value will be a low, and if the swing is down then it will be a high. Likewise, the offset swing values will be different, so the previous swing start will be a high when the current swing is up, and a low with a downswing.

The image below shows the swing high and low values for ANZ on the left (current swing is up) and AMC on the right (swing down).

Click images to enlarge.

As you can see, the swing offsets on the left have an even number for the lows (ie S[2], S[4], and S[6]) versus odd numbers on the right (ie S[1], S[3], and S[5]).

Here are the scripts, based on a 3 bar Gann Swing:

Current Swing End:

Swing Start:

Previous Swing Start – S[1]

To get preceding swings start levels increase the offset value in the square brackets, ie [2], [3], etc.

Finding Swing Patterns

So now we know the swing values (and offsets) we can look for relationships between the swings. For example, you can scan for when a stock is in an upswing with at least two consecutive higher swing lows:

To find two consecutive lower highs with a swing down:

In this example of the ASX200 watchlist, SFR (and 8 others) has at least two higher swing lows, and WOW (and 14 others) with at least two lower highs.

This next example which shows in a watchlist when the latest bar has changed the 10% swing direction from down to up:

This is useful, but what is more interesting – and potentially shows more strength – is if the new confirmed swing low is higher than than the previous low:

The third column takes it one step further: not only a higher low but also a new higher high:

In the image below there were 21 members of the S&P500 whose 10% swing direction turned positive with the day’s price action, of which 11 formed a higher low, and only UHS formed a higher low and a higher high (albeit by only $0.12 – so if you wanted a percentage tolerance could be included in the formula):

Swing gaps

Finally, this will find instances when the last swing low is at least 2% higher than the previous swing high (which requires an offset of 3 in an upswing).

2% Swing Gap down:

If you have any questions about building your own formulas – not just on swings but on any other technical condition – please search the Scripting Forum and post queries there (provide as much information as you can – images are especially helpful). Alternatively, paid consultations can be arranged where we can build and test the formulas for you. Contact support for details.

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