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.