Swing Index
Welles Wilder developed the Swing Index to provide a line "which cuts through the maze of high, low and close prices and indicates the real strength and direction of the market." (For a detailed description refer to Wilder's book New Concepts in Technical Trading Systems.)
The Swing Index is used primarily as a basis for Wilder's Accumulative Swing Index (ASI) indicator.
Mr. Wilder summarizes the significance of the Swing Index as follows:
- Swing Index gives one numerical value that always falls between +100 and -100, while incorporating current and previous opening and closing prices and true range in its complex calculation.
- Swing Index provides a line which gives definitive short-term swing points.
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Swing Index
Linear Mode
