Kagi charts are believed to have been created around the 1870's in Japan.
Kagi charts, as with Gann Swing charts, display rising and falling vertical lines to indicate price action while ignoring the time element. The lines created by Kagi charts are usually displayed as thick or thin depending on price action, direction and the point at which prices penetrate a previous high or low. Optuma, however, distinguishes between the thick and thin lines using colour. Blue represents thick lines and Green represents thin lines.
A Kagi Swing chart is created when price continues to move in the same direction (up or down) creating a vertical line. If price reverses by a set amount (point or percent) a new Kagi line is drawn. When prices penetrate the previous high or low the colour of the Kagi line changes.
Scripting Function: KAGISWING()
Actions & Properties
Copy Colours to Toolbar: Copies the bar colour scheme and creates a custom toolbar button. Use the button to apply the colours to other charts.
Copy Data to Clipboard: Copies the raw data values (Open, High, Low, Close, and Volume) to your clipboard, which can then be used in other programs (such as Notepad, MS Excel, etc). Note that the values copied will be in the timeframe of the chart, so a weekly chart will copy weekly values.
Apply Settings to All: Any changes to the chart's setting can be applied to all the other charts on the page or in the workbook. For example, change the colour scheme or line width of the chart and click this option to automatically change all the other charts in the workbook.
Move to Back: If the lines of the chart are displaying in front of other tools or indicators clicking this action 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 chart, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the chart's properties (such as the Colour Scheme or line thickness, for example) you can save the adjustments as your new default setting. Each time you open a new chart it will display using the new settings.
Delete: Deletes the chart from the page.
Tool Name: Allows you to adjust the name of the chart, as it's displayed in the Structures Panel.
Chart Style: Allows you to change the Kagi 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 when applied to the selected chart. For example, setting the Default Price Unit to 0.01 will set any Gann Fan applied to the chart to use 0.01 as its price unit. For more information on the Price Unit, please see here.
Kagi Style: Allows you to set the basis for calculating a reversal - can be set to Points or Percent by selecting the drop down arrow.
Percent / Points Movement: This field will change depending on the Kagi Style selected. This specifies how many points or percent are required in the reverse direction of the current Kagi line in order for a new line to be drawn.
Note: if the Kagi Calculation Type is set to Percent and 10 is entered in the Swing Points/Percent field, it means that price must move by 1 percent in the reverse direction in order for a new Kagi line to be drawn. One point is (Point type only). Clarifies what one point is equal to. e.g. for 10 cents to be equal to one point then set this field to 0.1.
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 withing a Kagi Swing Label. These are:
- Calendar Days
- Bar Date
- High/Low Date
- Price Retracement
- Time Ratio
- Last Swing Price
Text Size: Use this slider bar to increase / decrease the size of the text labels displayed on the Kagi Swing Chart (if enabled).
Text Colour: Allows you to change the colour of the text.
Blank Bars: The number of blank bars to the right of the current price action. After the last bar, there will be an area of blank charting space used for plotting tools and indicators into the future. Increasing this 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. By default, all data contained in the data file is displayed. However, you can also choose one of the following options:
- Last Week
- Last fortnight
- Last Month
- Last Quarter (3 Months)
- Last Year
- Last Five Years
- Last 10 Years
- Year To Date
- Date Range (Specifically select a date the chart will plot from).
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 existing bar, such as weekends and public holidays.
- Show Blanks - When enabled a dash will be added for weekdays where no trading activity is recorded (public holidays for example), however, no dashes will be added for weekends.
- Ignore Dilutions - Optuma data is adjusted for share splits, capital adjustments etc. When this option is ticked, any historical adjustments on the chart are ignored.
- Allow Zero Close Prices - There are codes in Bloomberg that are binary plots i.e. 0 and 1s only. This filter allows the zero values to be displayed.
- Ignore Out of Session Ticks - Any data coming in outside of the designated session times (assigned to the 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, Session 2 = Night). Ticking this checkbox will allow you to view only one of those sessions on the chart, 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 a downward swing.
Unconfirmed Colour: Allows you to change the colour of an unconfirmed swing.
Show 50% Mark: This option allows you to display two 50% horizontal lines on the last two swings of the chart.
50% Mark Line Style: Expands to give you the options to change the Line Style and Colour of the 50% Markers (when enabled).
Line Width: Use this slider bar to increase / decrease the width of the Kagi Swing chart lines.
Data File Properties: This field can be expanded to display information on the data file being used to generate the chart. Items such as the Data File's name, Exchange, physical location on your system are all displayed here. Generally, this information is only required for trouble shooting purposes 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 the slider to the left will increase the transparency of the chart. Moving the slider to the right will increase the opacity of the chart.
Visible: Unticking the checkbox will hide the swings of the chart.
Show In Price Scale: When selected the current end swing value will be displayed in the Price Scale.