Creating swing Index indicator

Creating swing Index indicator
Creating swing Index
Overview
Accumulation Swing Index is a cumulative total of the Swing Index. Accumulation of Swing Index was developed by Welles Wilder.
Interpretation
Mr. Wilder said: "Somewhere amidst the maze of open, high, low and close prices is a phantom line that is the real market." Accumulation Swing Index attempts to prove the phantom line. The accumulation Swing Index attempts to show the "real market", it looks like the prices themselves. This allows you to use classic support / resistance analysis of the index itself. Typical analysis involves looking for breakouts, new highs and lows, and differences.
Bum notes the following characteristics of the reservoir Swing Index:
• It provides a numerical value that quantifies price swings.

• Defines the term swing points.

• It passes through the maze of high, low and close prices and shows the true strength and direction of the market.
You can see that the breakouts of the price trendlines labeled "A" and "B" were confirmed by the accumulation breakouts Swing Index trendlines labeled "A" and "B". "
Calculation
Accumulation Swing Index is a cumulative total of the Swing Index. Index of Swing and accumulation Swing Index require opening prices.
Step-by-step instructions for calculating the Swing Index are provided in the Wilder book, New Concepts in Technical Trading Systems.