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Swing Charts are a rising and falling line indicator ( hence Trend Line Indicator ) displaying the essence of market movement with the time factor removed. This removal of the time element allows for large time frames of market movement to be 'compressed', removing the markets noise, revealing what is most important : the actual swings or waves that the market has made over the considered time period.
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As can be seen in the graphic on the left, the Gannalyst Software will allow for labels to be printed on the swing charts, highlighting the date of the Swing, the number of days, the price at which the swing occurred and the range of the swing in points.
These features as well as the color of the Up and Down swings can be altered by selecting 'Edit Swing Overlay' from the Overlay Drop Down menu on the Chart Page toolbar. |
The Gann Standard Swing Chart, takes the market information and concentrates solely on Price Action, that is, the Swing chart changes ONLY when an Up Day is followed by a Down Day or vice versa. When an inside day occurs then the trend can be considered neutral and nothing is done. When an Outside Day occurs then we have a possible change in trend which is usually confirmed by price action the following day.
As can be seen in the above graphic, only the price action is followed and price action ONLY changes direction when the underlying market confirms this direction. the chart bars have been highlighted in black to make it easier to follow the underlying market movement. It should be noted that the Standard Style is the most complex to construct. |
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