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Technical Studies Reference


Greatest Swing Value

This calculates and displays the indicators for the Greatest Swing Value, a concept developed by Larry Williams in his book Long-Term Secrets to Short-Term Trading.

Let Open, High, Low, and Close Prices at Index \(t\) be denoted as \(O_t\), \(H_t\), \(L_t\), and \(C_t\), respectively. We denote the Buy Swing and Sell Swing at Index \(t\) as \(BS_t\) and \(SS_t\), respectively, and we compute them for \(t \geq 0\) as follows.

\(\displaystyle{BS_t = \left\{ \begin{matrix} H_t - O_t & C_t < O_t \\ 0 & C_t \geq O_t \end{matrix}\right .}\)

\(\displaystyle{SS_t = \left\{ \begin{matrix} O_t - L_t & C_t > O_t \\ 0 & C_t \leq O_t \end{matrix}\right .}\)

Let the Length Input be denoted as \(n\). We denote the averages of the Buy Swing and Sell Swing as \(\overline{BS}_t(n)\) and \(\overline{SS}_t(n)\), respectively, and we compute them for \(t \geq n - 1\) in terms of a Simple Moving Average - Skip Zeros as follows.

\(\overline{BS}_t(n) = SZMA_t(BS,n)\)
\(\overline{SS}_t(n) = SZMA_t(SS,n)\)

Let the Multiplier Input be denoted as \(v\). The two indicators of the Greatest Swing Value are the Buy Price and Sell Price, denoted respectively as \(B_t(n,v)\) and \(S_t(n,v)\). We compute them for \(t \geq n - 1\) as follows.

\(B_t(n,v) = O_t + v\cdot\overline{BS}_{t - 1}(n)\)
\(S_t(n,v) = O_t - v\cdot\overline{SS}_{t - 1}(n)\)

It is the subgraphs of the Buy and Sell Prices that are displayed in this study.

Inputs

Spreadsheet

The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.

Open it through File >> Open Spreadsheet.

Greatest_Swing_Value.437.scss


*Last modified Monday, 26th September, 2022.