Article/Author: Omega Research Inc., 1997

Download: ACC_SWING.ELA

Category: Indicator > Trend Identificator

Description:

The Accumulative Swing Index plots a running total of the Swing Index value of each bar. The Swing Index is a value from 0 to 100 for an up bar and 0 to -100 for a down bar. The Swing Index calculation is made using the current bar�s Open, High, Low, and Close as well as the previous bar�s Open and Close. The Accumulative Swing Index is used to give a better long-term picture than the Swing Index, which uses data from only 2 bars.

Usage:

If the long-term trend is up, the Accumulative Swing Index is a positive value. Conversely, if the long-term trend is down, the Accumulative Swing Index is a negative value. If the long-term trend is sideways (non-trending), the Accumulative Swing Index fluctuates between positive and negative values. This indicator is primarily used to analyze futures but can be applied to stocks as well.

PLOT1(ACCUMSWINGINDEX, "ACMSWGIDX");