Anyone interested in programming this:
Constructing a Swing Chart A swing chart is constructed by using Gann's Trend Indicator Line (TIL). A TIL is usually applied to a daily chart and is based on the highs and lows. The TIL moves up to the high of the day's range if the range has a higher high than the previous day. If the next day's range has a lower low and then TIL moves to the bottom of that range. Inside days and outside days are the exception.
Outside Day
An outside day occurs when the day's high is higher than the previous day and the day's low is lower than the previous day. If the outside day occurs after a series of higher high days, and the high occurs before the low during the day, then connect the TIL to the high and draw down to the low. The converse is true for outside days following lower low days.
Inside Day
An inside day, as the name suggests, is a trading day with a range where the high is lower and the low is higher than the previous day's range. Inside days are generally ignored all together. However, if an inside day occurs after a lower low and is then followed by a higher high, the TIL moves to the new high. If the inside day is followed by another lower low, which does not exceed the existing TIL low, the TIL does not move. Only when the existing TIL low is exceeded can the TIL continue down. The converse is true for inside days following higher highs.
Constructing a Swing Chart A swing chart is constructed by using Gann's Trend Indicator Line (TIL). A TIL is usually applied to a daily chart and is based on the highs and lows. The TIL moves up to the high of the day's range if the range has a higher high than the previous day. If the next day's range has a lower low and then TIL moves to the bottom of that range. Inside days and outside days are the exception.
Outside Day
An outside day occurs when the day's high is higher than the previous day and the day's low is lower than the previous day. If the outside day occurs after a series of higher high days, and the high occurs before the low during the day, then connect the TIL to the high and draw down to the low. The converse is true for outside days following lower low days.
Inside Day
An inside day, as the name suggests, is a trading day with a range where the high is lower and the low is higher than the previous day's range. Inside days are generally ignored all together. However, if an inside day occurs after a lower low and is then followed by a higher high, the TIL moves to the new high. If the inside day is followed by another lower low, which does not exceed the existing TIL low, the TIL does not move. Only when the existing TIL low is exceeded can the TIL continue down. The converse is true for inside days following higher highs.