Barros Swings Chart Overlay
Overview
The Barros Swing is a trend indicator and can be used much like Gann Swings. Trading methodology associated with the Barros Swings is accomplished through attending seminars hosted by Ray Barros. For further information on courses offered by Ray Barros, you can visit his website here.
To add the tool to your chart, select the tool from the Barros tool group, and left-click on the chart or indicator on which you wish to add the tool. Optuma will then draw the tool using the default settings.
Scripting Function: BARROSSWING()
Barros Swing Properties: as advised by Ray Barros
- Daily time frame: Initial swing: 3 Mid Swing: 5 Final Swing: 18
- Weekly time frame: Initial swing: 4 Mid Swing: 13 Final Swing: 52
- Monthly time frame: Initial swing: 3 Mid Swing: 12 Final Swing: 60
The Daily input of 3 is a 2.5-day swing and is generally not used for trading - it is merely a filter. The 5-day and 18-day correspond to the one-period swing on a weekly chart and a one-period swing on a monthly chart.
I use the 5-day and 18-day swing to identify the weekly and monthly charts.
The weekly inputs correspondence to the one-period swings on the monthly, quarterly and yearly. Those who have taken my courses know that I use only the 13-week swing to identify the quarterly trend.
The monthly inputs correspondence to the one-period swings on the quarterly, yearly and five-yearly charts.
I use the 12-monthly swing to identify the yearly trend.
It’s important to note that, you cannot change the inputs. If you do, you will distort the Barros Swing. For example:
- If you change the 5-period swing input, you will distort the 18-day swing.
- If you change the 18-day swing to another value, e.g. 73, then you are in effect asking the 5-day swing to act as the filter for the 73-day. The filter for the 73-day is the 18-day, not the 5-day.
If you want to place an approximation of the quarterly trend on a daily chart, use a 73-day Hart swing.
For more details on how to draw a Barros Swing, click here.
Actions & Properties
Actions
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Barros Swings Chart Overlay tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Barros Swings Chart Overlay tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Barros Swings Chart Overlay to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Initial Swing: Sets how many time periods (bars) must take place in the same direction for the initial swing to turn. For example, if set to three, there would need to be three successive higher bars before a down swing could turn up.
Show Initial Swing: Check this box to display the initial swing. Uncheck to hide the swing.
Mid Swing: Sets how many time periods (bars) must take place in the same direction for the Mid swing to turn.
Show Mid Swing: Check this box to display the Mid swing. Uncheck to hide the swing.
Final Swing: Sets how many time periods (bars) must take place in the same direction for the Final swing to turn.
Show Final Swing: Check this box to display the Final swing. Uncheck to hide the swing.
Show Labels: When selected the price value of the last bar where the Barros Swing overlay ends will be displayed.
Font Size: Adjusts the size of the Barros Swing labels. Moving the slider bar to the right will increase the size.
Initial Swing Style: This option expands to show the following:
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot and Stippled.
- Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Mid Swing Style: This option expands to show the properties of the Mid Swing plot style. The properties are identical to those listed for the Initial Swing Style.
Final Swing Style: This option expands to show the properties of the Final Swing plot style. The properties are identical to those listed for the Initial Swing Style.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show In Price Scale: When selected the current Barros Swing values will be displayed in the Price Scale.