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Gann Swing
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=294
Forum: 17 · Topic 294 · 14 post(s)
Gann Swing
Nikolay.Gekht · Tue Feb 09, 2010 2:53 pm
Gann swing is an analogue of the ZigZag indicator can be used to detect market’s figures.
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.
- 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.
Market growth over the previous peak marks the beginning of Uptrenda (Solid line).
- 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`
Download:
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
Re: Gann Swing
sedraude · Thu Nov 04, 2010 8:29 am
Hi Nikolay,
Can you make it in bigger time frame, too?
Thank you in advance
Re: Gann Swing
Apprentice · Thu Nov 04, 2010 8:35 am
Added to developmental cue.
Re: Gann Swing
Apprentice · Fri Nov 26, 2010 10:42 am
Style Update
Re: Gann Swing
deltayod · Thu Jan 06, 2011 12:23 am
As it is illustrated on bullet points 8 and 9 of the original post, it would be very beneficial to have the indicator either change from solid to dashed/dotted or better yet to change color when changing from uptrend to downtrend (and vice a versa) as per the conditions already explained in detail. For example, blue for uptrend and red for downtrend, with the color selected by the user. Could this enhancement be added to the indicator
Thanks in advance
Re: Gann Swing
Apprentice · Thu Jan 06, 2011 5:00 am
Adding this capability is now quite complicated, gives me a headache. Just wait a few days to release a new version of the platform.
Re: Gann Swing
Apprentice · Wed Nov 30, 2011 3:46 am
Bigger time frame version is now unnecessary. It is possible to have this, by changing the time frame of the data source.
Re: Gann Swing
Rachid · Tue Sep 24, 2013 12:25 pm
Hi Nikolay,
Thank you for all great work you did.
Is it possible to combine the 2 here attached indicators in order to have a Gann Retracement based on the last zig or zag instead of the last N candels?
Thank you in advance
Re: Gann Swing
Apprentice · Wed Sep 25, 2013 4:25 am
Your request is added to the development list.
Re: Gann Swing
Apprentice · Wed Sep 25, 2013 6:16 am
Try This version. viewtopic.php?f=17&t=59571
Re: Gann Swing
volnmar · Tue Dec 02, 2014 4:52 am
can you please update it with option for 3 consecutive bars? Not only 2.
Re: Gann Swing
volnmar · Tue Dec 02, 2014 6:04 am
Or like it is described here: http://www.ino.com/blog/2009/07/using-gann-swing-charts-in-futures-trading/#.VH2OPzGG-9E
However, in the real world, it is very rare that you will see “3 consecutive” down candles without one, or sometimes even two up candles in between, which would mean normally, even if price moved a significant distance, one wouldn’t be able to class it as a Gann price swing. For example:
Observe diagrams A & B. (Assume trend is up). The “standard” Gann 3 candle pullback is shown in diagram A. A swing low is established at point X. According to W.D. Gann, point Y in diagram B would not qualify as a swing low, because down days are not consecutive. In reality I suggest there is little difference between diagram A and B, so little in fact, one can suggest they are substantially the same. Consequently, I have chosen to modify a traditional Gann 3 period swing chart by relaxing the requirement for there to be 3 “consecutive” days in order for a Gann swing to be formed. I use the definition of 3 lower lows (without there being a new higher high – i.e. higher than “Z” in-between).
Re: Gann Swing
Apprentice · Tue Dec 02, 2014 6:44 pm
Your request is added to the development list.
Re: Gann Swing
Apprentice · Sat Jul 01, 2017 5:26 am
The indicator was revised and updated.