Greatest Swing Value: Comparing Open-to-High and Open-to-Low Moves

Summary

Greatest Swing Value (GSV) compares recent upward and downward price movement measured from each session’s open. The indicator concept sums or averages moves from the open to the high and from the open to the low over recent periods, then flags a swing from the open that exceeds the reference average as a possible signal. The underlying idea is that the close’s direction relative to the open indicates which side dominated that session, while the accumulated open-to-extreme moves describe typical directional pressure.

The page identifies the method with Larry Williams and describes a multi-timeframe implementation. By default, daily values are interpolated onto lower-timeframe charts; changing a setting recalculates the indicator on the chart’s current timeframe. The description does not specify a complete entry, exit, or risk-management rule, and it provides no backtest or performance evidence. GSV is presented as a possible signal based on unusually large swings, so traders would need to define confirmation and test the indicator in their own market and timeframe.

Key ideas

• GSV measures price excursions from the session open toward the high and low.
• Recent directional swings establish a typical range for comparison.
• A swing larger than the reference average may be treated as a possible signal.
• The indicator can use daily data on lower-timeframe charts or recalculate on the chart timeframe.
• The document gives no tested trading rules or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.