| SwingTimer Indicator Page: 3 | |
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In the prior graphic you can find examples of most of the 10 patterns with which we deal in this method. Looking forward from the last chart we will find examples of those patterns which we did not find in the earlier chart.
These two charts are just to acquaint you with the concept of pattern identification which will be used in the application/indicator to aid in determining projections. Both of these charts show a series of pivot/turning points. These points and the determination of these points is not to be taken lightly. The SwingTimer Indicator uses a rather unique method of picking these points. In OmegaResearch products there are a couple of functions identified as Highest and Lowest and are commonly used to determine the highest high price and lowest low price over a given period. The SwingTimer Indicator uses these functions in "picking" of pivot/turningpoints. On each bar the method determines the bar on which the highest high and lowest low occur for the user selected number of bars. The method examines the relationship of these two bars on each bar as it occurs in time. When the relative position of these bars change (i.e. the days back to the lowest low becomes less than the days back to the highest high -- or vice versa) then the method specifies that a change in direction of market has occurred. The method then proceeds to determine the exact bar (and from that determination the date and time) at which this change in direction occurred. Once a new TP has been determined to have occurred, the indicator draws a completed leg and proceeds to label the end of the leg with the pattern number (ID). CLICK THE Add to Cart Button TO ORDER the |
