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Indicators: Swing line - extended version

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Automated-Trading
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Automated-Trading 2016.11.10 14:43 

Swing line - extended version:

Extended swing line indicator

Author: Mladen Rakic

Mladen Rakic
54612
Mladen Rakic 2016.11.10 15:32  

A possible usage that is not as obvious ...


Swing line is very "fast" - but since it does not have parameters to "regulate" that "speed" (that is the way Ron Black, the inventor of it, has designed it in the first place), possible way to use is to combine multiple time frames. This example is using 3 time frames (15 minute, 30 minute and 1 hour) and can show us an overall trend


PS: when using multiple time frames, always keep in mind what multi time frame means, and that all the bars of the current chart belonging to higher time frame currently opened bar must be updated, and that the "signals" should be used according to that delay, not according to the delay of the current chart. Combinations like the above in general should be used for estimation, not for signaling

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