Gann Swing Chart

Gann Swing Chart

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Gann Swing Chart

Overview

Gann Swing Charts, as proposed by W.D. Gann, provide an excellent way to examine trends of themarket.

The Gann Swing Chart is constructed from Bar Chart data and a thorough examination of each barand how it compares to previous bars. When considering two bars, if the later bar has a higher Highand a higher Low, then it is called a Higher bar. If a swing was going down then it would require ahigher bar to make the swing turn up. As always, there are many properties that are adjustableallowing each analyst to set up the Gann Swing Chart to suit specific trading preferences.

Click to enlarge

The Gann Swing Chart takes the element of time out of the Bar Chart and represents only themovement of price.

Bar Types

There are four bar types with respect to the previous bar

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Up bar = higher high and higher low.lDown bar = lower low and lower high.lOutside bar = higher high and lower low.lInside bar = lower high and higher low.l

The Gann Swing Chart moves to the high for the period on an up bar and keeps moving higher until areversal is recorded. A reversal would come in the form of a down bar (or an outside bar). On a threebar swing count, a down-swing will be displayed following three consecutive lower bars. It will only bereversed after three consecutive up bars.

Kagi, Percent and Point Swing Charts are all available in Market Analyst. These charts are similar toGann Swings, however use different information to generate the swings.

Below is an example of how a Gann Swing Chart is displayed when drawn over a Bar Chart using theGann Swing Chart Overlay tool:

Videos

Gann Swings Part 1

Gann Swing Chart


Gann Swings Part 2

Actions & Properties


Actions

Apply Settings to All: Any changes to the chart's setting can be applied to all the other charts onthe page or in the workbook. For example, change the colour scheme or line width of the chart andclick this option to automatically change all the other charts in the workbook.

Copy Data to Clipboard: Copies the raw data values (Open, High, Low, Close, and Volume) to yourclipboard, which can then be used in other programs (such as Notepad, MS Excel, etc). Note that thevalues copied will be in the timeframe of the chart, so a weekly chart will copy weekly values.

Delete: Delete the Gann Swing Chart from the page.

Move to Back: If the lines of the chart are displaying in front of other tools or indicators clicking thisaction will move the lines view to the background.

Move to Front: If the lines of the chart are displaying behind other tools or indicators on the chart,clicking this action will bring the lines to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the GannSwing Chart, and wish to return to the standard properties originally installed with Market Analyst 7.

Save Settings as Default: If you have adjusted any of the Gann Swing Charts properties (coloursfor example) you can save the adjustments as your new default setting. Each time you open a newGann Swing Chart it will display using the new settings.

Properties

Gann Swing Chart


Tool Name: Allows for the name of the tool to be changed, as displayed in the Structure Panel.

Chart Style: Allows you to change the Gann Swing Chart to another chart style (such as Line Chart).

Default Price Unit: Used to set the Price Unit various Gann-based tools will use by default whenapplied to the selected chart. For example, setting the Default Price Unit to 0.01 will set any Gann Fanapplied to the chart to use 0.01 as its price unit. For more information on the Price Unit, please seehere.

Swing Count: Sets how many time periods (bars) must take place in the same direction for the swingto turn. For example, if set to three there would need to be three successive higher bars before adown swing would turn up.

Outside Bar Calc: Sets how outside bars are treated in the swing calculation. Click the drop downarrow to select the Use Outside Bar or Use Next Bar option.

Cluster Outside / Inside Bars: When the Outside Bar Calc property is set to Use Next Bar a newlcheckbox will be displayed for Outside / Inside Bar clustering. When unticked, the Gann Swing willuse the Market Analyst 6 ruleset for dealing with Outside / Inside bar clustering. For more


information please refer to this article.

Use Inside: When the Swing Count is greater than one this property appears to set how inside barsare treated in the swing calculation. Check the box to use inside bars in the swing count. Uncheck toignore inside bars.

Use Breakout: This option can only be used with a swing count greater than one. If the turning pointof the previous swing is exceeded before the number of bars in the swing count has occurred this iscalled a 'breakout' and the new swing will be drawn. For example, with a two bar swing count a downday occurs on the first day that has taken out the previous swing low. Normally this bar would not beconsidered in the calculation until the second down day, but by selecting the Use Breakout option thethe next swing is drawn on the first bar. See this example using the Gann Swing Overlay tool:

Click toenlarge

Blank Bars: The number of blank bars to the right of the current price action. After the last bar therewill be an area of blank charting space used for plotting tools and indicators into the future. Increasingthis value will increase the amount of blank space.

Date Range: This setting allows you to choose how much historical data is displayed on the chart. Bydefault all data contained in the data file is displayed. However, you can also choose one of thefollowing options:

EverythinglTodaylYesterdaylLast WeeklLast FortnightlLast MonthlLast Quarter (3 Months)lLast YearlLast Five Yearsl

Gann Swing Chart


Last 10 YearslDate Range (Specifically select a date the chart will plot from).l

Filters: Mouse over this option to open the Filters panel:

Calendar Days: Ticking this option will add a dash for every day on the chart not filled by an existinglbar, such as weekends and public holidays.Show Blanks: When enabled a dash will be added for weekdays where no trading activity is recordedl(public holidays for example), however no dashes will be added for weekends.Ignore Dilutions: Market Analyst data is adjusted for share splits, capital adjustments etc. When thisloption is ticked, any historical adjustments on the chart are ignored.Ignore Out of Session Ticks: Any data coming in outside of the designated session times (assigned tolthe specific code in use) will not be added to the chart. Requires a real time datafeed.Show Single Session: For codes containing two sessions in a single day (e.g. Session 1 = Day,lSession 2 = Night). Ticking this checkbox will allow you to view only one of those sessions on thechart, with data from the other session being hidden from view. Requires a real time datafeed.

Up Colour: Allows you to change the colour of an upward swing.

Down Colour: Allows you to change the colour of an downward swing.

Show 50% Mark: This option allows you to display two horizontal lines at the 50% level of the lasttwo swings of the chart.

50% Mark Line Style: Expands to give you the options to change the Line Style and Colour of the50% Markers (when enabled).

Show Unconfirmed: Check this box to see when an up or down swing was confirmed. A change incolour distinguishes the swing confirmation. When this option is selected, the Unconfirmed Colourfield will automatically appear.

Show Labels: If this box is checked, then details regarding the swings will be displayed on the Chart.

Visible Labels: Expands to show the items available to display within a Gann Swing label. These are:

Price at the swing turnlBars since the last swing turnlCalendar Days since the last swing turn (in brackets)lDate of the swing turnlRange between swingslPrice Retracement of the previous swinglTime Ratio: the duration of the swing relative to the duration of the previous swing as alpercentage.

Text Size: Use this slider bar to increase / decrease the size of the text labels displayed on the GannSwing Chart (if enabled).

Text Colour: Allows the label text colour to be changed.

Line Width: Use this slider bar to increase / decrease the width of the Gann Swing chart lines.

Data File Properties: This field can be expanded to display information on the data file being usedto generate the chart. Items such as the Data Files name, Exchange, physical location on your


system are all displayed here. Generally this information is only required for trouble shootingpurposes and is not something you will use on a regular basis.

Tool Transparency: This slider bar is used to adjust the transparency of the chart itself. Moving theslider to the left will increase the transparency of the chart. Moving the slider to the right will increasethe opacity of the chart.

Visible: Unticking the checkbox will hide the swing chart from view.

Show In Price Scale: When selected the current end swing value will be displayed in the Price Scale.

More Information

The Educated Analyst

Getting into the Swing - Part 1 by Dale Gilham

Getting into the Swing - Part 2 by Dale Gilham

Gann Swing Charts by David Burton

Gann Swings by Alan Oliver

Gann Swing ChartOverviewBar Types

VideosGann Swings Part 1Gann Swings Part 2

Actions & PropertiesActionsPropertiesMore InformationThe Educated Analyst

Gann Swing Chart

Documents

Transcript of Gann Swing Chart