The rules are the following:
Apprentice wrote:Gann Swing indicators
1.Two consecutive Higher High candles indicate Upswing.
2.Two consecutive Lower Low candles indicate Downswing.
3.Swing lines connect either Highs or Lows of individual bars - never Open or Close.
4.If the next bar has a higher high and a higher low (or the same low) when compared to the previous bar, then the swing line goes up connecting the high of the next bar.
5. If the next bar has a lower high (or same high) and a lower low when compared to the previous bar, then the swing line goes down connecting the low of the next bar.
6.If the next bar is an inside bar (lower high and higher low), ignore it and don’t plot a line on it at all – wait for the next bar.
7.If the next br is an outside bar (higher high and lower low), plot a swing line on the high of an outside bar if the following bar (one after the outside bar) is lower, OR plot a swing line on the low of an outside bar if the following bar (one after the outside bar) is higher.
8. Market growth over the previous peak marks the beginning of Uptrenda (Solid line).
9. Markets fall below the previous valley marks the beginning of Downtrenda (Dash line).
- Code: Select all
-- initializes the indicator
function Init()
indicator:name("Gann Swing");
indicator:description("");
indicator:requiredSource(core.Bar);
indicator:type(core.Indicator);
indicator.parameters:addColor("clr", "Color of the line", "", core.rgb(255, 0, 0));
end
local first = 0;
local source = nil;
local high = nil;
local low = nil;
local out = nil;
-- initializes the instance of the indicator
function Prepare()
source = instance.source;
high = source.high;
low = source.low;
first = source:first();
local name = profile:id() .. "(" .. source:name() .. ")";
instance:name(name);
out = instance:addStream("GSW", core.Line, name, "GSW", instance.parameters.clr, first);
end
local swingNone = 0;
local swingUp = 1;
local swingDown = -1;
local swingDir = nil;
local _previousPeak = nil;
local _previousDrawn = nil;
-- calculate the value
function Update(period)
local i, us, ds;
if (period <= 3) then
swingDir = swingNone;
_previousPeak = nil;
_previousDrawn = nil;
end
local previousPeak = nil;
local previousDrawn = nil;
if _previousPeak ~= nil then
for i = period, 0, -1 do
if (source:date(i) == _previousDrawn) then
previousDrawn = i;
end
if (source:date(i) == _previousPeak) then
previousPeak = i;
break;
end
end
end
if (previousPeak == nil) then
swingDir = swingNone;
previousDrawn = nil;
end
period = period - 1; -- calculate for the previous period
if previousPeak ~= nil and previousPeak == period then
return ;
end
if (period > 3) then
-- check for swing high and swing low conditions
us = false;
ds = false;
-- 1.Two consecutive Higher High candles indicate Upswing.
if high[period] > high[period - 1] and high[period - 1] > high[period - 2] then
us = true;
end
-- 2.Two consecutive Lower Low candles indicate Downswing.
if low[period] < low[period - 1] and low[period - 1] < low[period - 2] then
ds = true;
end
-- 4.If the next bar has a higher high and a higher low (or the same low) when
-- compared to the previous bar, then the swing line goes up connecting the high of the next bar.
if not(us) and high[period] > high[period - 1] and low[period] >= low[period -1] then
us = true;
end
-- 5. If the next bar has a lower high (or same high) and a
-- lower low when compared to the previous bar, then the swing line goes down connecting the low of the next bar.
if not(ds) and high[period] <= high[period - 1] and low[period] < low[period -1] then
ds = true;
end
if us then
if swingDir == swingUp then
core.drawLine(out, core.range(previousPeak, period), out[previousPeak], previousPeak, high[period], period);
previousDrawn = period;
elseif swingDir == swingDown then
-- direction was changed
core.drawLine(out, core.range(previousDrawn, period), out[previousDrawn], previousDrawn, high[period], period);
swingDir = swingUp;
previousPeak = previousDrawn;
previousDrawn = period;
else
-- no direction yet
swingDir = swingUp;
previousPeak = period;
previousDrawn = period;
out[period] = high[period];
end
elseif ds then
if swingDir == swingDown then
-- continue the gann line from the last peak
core.drawLine(out, core.range(previousPeak, period), out[previousPeak], previousPeak, low[period], period);
previousDrawn = period;
elseif swingDir == swingUp then
-- direction was changed
core.drawLine(out, core.range(previousDrawn, period), out[previousDrawn], previousDrawn, low[period], period);
swingDir = swingDown;
previousPeak = previousDrawn;
previousDrawn = period;
else
-- no direction yet
swingDir = swingDown;
previousPeak = period;
previousDrawn = period;
out[period] = low[period];
end
else
-- 7.If the next br is an outside bar (higher high and
-- lower low), plot a swing line on the high of an outside bar if the
-- following bar (one after the outside bar) is lower, OR plot a swing
-- line on the low of an outside bar if the following bar (one after the
-- outside bar) is higher.
if (high[period - 1] > high[period - 2] and low[period - 1] < low[period - 2]) then
-- outside bar was before the current bar
if (high[period] > high[period - 1] and low[period] >= low[period - 1]) then
-- plot to low
if swingDir == swingDown then
-- continue the gann line from the last peak
core.drawLine(out, core.range(previousPeak, period), out[previousPeak], previousPeak, low[period], period);
previousDrawn = period;
elseif swingDir == swingUp then
-- direction was changed
core.drawLine(out, core.range(previousDrawn, period), out[previousDrawn], previousDrawn, low[period], period);
swingDir = swingDown;
previousPeak = previousDrawn;
previousDrawn = period;
end
elseif (high[period] <= high[period - 1] and low[period] < low[period - 1]) then
-- plot to high
if swingDir == swingUp then
core.drawLine(out, core.range(previousPeak, period), out[previousPeak], previousPeak, high[period], period);
previousDrawn = period;
elseif swingDir == swingDown then
-- direction was changed
core.drawLine(out, core.range(previousDrawn, period), out[previousDrawn], previousDrawn, high[period], period);
swingDir = swingUp;
previousPeak = previousDrawn;
previousDrawn = period;
end
end
end
end
if (previousPeak ~= nil) then
_previousPeak = source:date(previousPeak);
end
if (previousDrawn ~= nil) then
_previousDrawn = source:date(previousDrawn);
end
end
end
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gannswing.lua- (7.25 KiB) Downloaded 2581 times
Many thanks to user Apprentice who prepared the excellent specification and walked an extra mile with us in testing of this indicator.
Mq4 version can be found here.
viewtopic.php?f=38&t=63884&p=108195#p108195
The indicator was revised and updated
