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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.