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Knowledge Base

Percent Swing Chart Overlay

Overview


The Percent Swing Chart Overlay is used to superimpose a Percent Swing Chart over a bar based chart (bar, candle, range or line). The swing lines are drawn as straight lines joining swing highs and lows, and change direction when the required percentage value has been met. For example, with a percentage swing value set to 10% on a $100 chart in an uptrend, the swing overlay will change direction if the price falls to $90, and will swing up again when the price reaches $99.

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To apply a Percent Swing Overlay, select the tool from the Swings Tool group. Once selected, left-click once on the chart.

Actions & Properties


Actions


Add to Toolbar: Click this action to add the selected Percent Swing Overlay to your custom toolbar.

Apply Settings to All: When multiple Percent Swing 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 Percent Swing Overlay tools in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected Percent Swing Overlay, 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 lines 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 lines to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the Percent Swing Overlay, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the Percent Swing Overlay Properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Percent Swing Overlay to a chart, the tool will display using the new settings.

Delete: Delete the Percent Swing Overlay from the chart.

Properties


Tool Name: Allows you to adjust the name of the tool, as it's displayed in the Structure Panel.

Bar: Sets how many time periods (bars) are used in the calculation of the Percent Swing.

Percent: Sets the percent value to be used in the swing calculation.

Calculate Using: This option allows you to select from either the 'High/Low' or 'Close' value for the calculation of the Percent Swing.

Show Labels: When this check box is selected, nominated Swing labels will be displayed on the swing chart.

Visible Labels: This expands to display a list of available labels that you can select from to display on the Gann Swing overlay. There are 10 labels available: Price, Bars, Calendar Days, Bar Date, High/Low Date, Range, % Change from previous swing, Price Retracement of previous swing, Time Ratio of previous swing, Last Swing Price.

Text Size: 
Use the slider bar to adjust the size of the text displayed in the expanded section of the Chart Annotation. Moving the slider bar to the right will increase the size of the text.

Text Colour: Allows you to adjust the colour of the label text.

Text Angle: Allows you to choose whether the label text appears on horizontally (0 degrees) or vertically (90 degrees).

Up Colour: Sets the colour of the Percent Swing Chart Overlay when the swing is moving up. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.

Down Colour: Sets the colour of the Percent Swing Chart Overlay when the swing is moving down. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.

Line Width: Allows you to adjust the width of the Percent swing lines. Moving the slider bar to the right increases the thickness of the line.

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 Percent Swing value will be displayed in the Price Scale.

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