ChartSmarts

[MechanicalMethod]

Hey Scanman,

I'm interested in things that can be reduced to code. Particularly swing. I'm not sure I remember Krausz's strategy but think it goes something like this.

On a small level bar direction determines swing.

if H<H[1] and H[1]<H[2] then dir= -1
else if L>L[1] and L[1]>L[2] then dir=1;

There's lots of exceptions that make that buggy. Here's a fix for one.

if dir<>dir[1] then begin
if dir>0 and H<H[1] and H[1]<H[2] then dir=dir[1]
else if dir<0 and L>L[1] and L[1]>L[2] then dir=dir[1];
end;

Tracking swing extremes is the first step toward determining trend.

if dir<0 and L<myL then begin
myL=L; myBar=currentBar;
end else if dir>0 and H>myH then begin
myH=H; myBar=currentBar;
end;