Greatest Swing Value.
The indicator is based on the GSV concept from Larry Williams’ book “Long-Term Secrets to Short-Term Trading”.
Unlike the concept of Larry Williams, not the maximum and minimum of the day are involved in the calculations, but the extrema of a particular bar.
The indicator represents a channel, inside which the price can move.
The indicator view in the chart.
The indicator has the following parameters:
Period - set the indicator period.
Multiplier - set the coefficient of the indicator channel width.
Panel - selection of the indicator location in the chart:
- New panel
Show value - display of the indicator value on the price scale.
Show zero values - display of zero values.
Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.
Visual type - visual setting of the indicator display in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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