Greatest Swing Value

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:


Settings

Period - set the indicator period.

Multiplier - set the coefficient of the indicator channel width.


Drawing
Panel - selection of the indicator location in the chart:

  • New panel
  • Chart

Buys, Sells

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.

Color

Visual type - visual setting of the indicator display in the chart:

  • Line
  • Histogram
  • Hash
  • Block
  • Cross
  • Square
  • Dots
  • Up arrow
  • Down arrow
  • Axis label
  • Hide

Line style - setting of the line display style:

  • Dot
  • Solid
  • Dash
  • Dash - dot
  • Dash - dot - dot

Width - setting of the indicator line width.

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