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You are absolutely correct about me having an
opinion on
how to define a swing.
As far as I am concerned the only way to do so is
with the technique
which I use in the old "Swing_Lee"
function. Here we simply look
backward a certain number of bars and if the number
of bars back
to the highest high over that period is less than
the number of bars
back to the lowest low of that period then we are
in an uptrend and
when this relationship changes then we know we have
a pivot.
<A
href="http://groups.yahoo.com/group/swingmachine/files/OMEGA_ELA-ELS_FOLDER/";>http://groups.yahoo.com/group/swingmachine/files/OMEGA_ELA-ELS_FOLDER/
This URL contains an .ela which uses
this principle for computation
of pivots and also allows the user to output to an
ASCII files the
points at which pivots occur and the prices.
There is a catch, you will
have to join the SwingMachine list and Yahoo! to
have access to this
files area but it may be worth it.
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