Williams Swing Points for Short-Term and Intermediate Turns

Summary

This indicator marks short-term swing highs and lows with arrows and highlights selected intermediate swings with ellipses. It tracks candidate highs and lows as price extends beyond prior values, then changes its trend state when those candidates reverse. The short-term turn is plotted at the stored extreme. Intermediate highs and lows are identified by comparing a sequence of three swing points: the middle point must exceed its neighbors for a high, or fall below them for a low. Ellipse size is based on a fraction of the average range over a long lookback.

The description links the method to a trading book but does not explain complete entry, exit, or risk rules. It provides code rather than chart examples, performance results, or a discussion of parameter sensitivity. Because a swing is recognized after price has turned, the plotted point refers to an earlier extreme and should not be read as an immediately available prediction. The method is a visual structure tool, not a tested strategy in this document.

Key ideas

• Arrows mark short-term swing highs and lows after the tracked extreme reverses.
• Intermediate swing highs are local peaks among three successive marked highs.
• Intermediate swing lows are local troughs among three successive marked lows.
• Ellipse radius scales with a fraction of the average price range over a lookback period.
• The document gives indicator code but no trade 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.