This idea invented by Ron Black , in his article : Getting Clear With Short-Term Swings he showed the concepts behind his way
1- it identify the direction of short-term price swings
2- identifies the direction of the current price swing and the precise day when price direction changes.
3- it does not use the opening price or the closing price Instead, it uses the range (length) of the price bar
4- it borrows from a basic statistical concept , if two distributions do not overlap, they can be considered different.
Ref:
http://www.traders.com/Documentation/FE … s.html#TT4
It also has different names
SwingTrendLines indicator
SwingLineBar paint-bar
SwingLine
NB: It gives two types of signals
1- 1st swing clearing signal '' bar'' .
2- 2nd swing or swings they come after the 1st swing occurred and 1st swing must hold the price .
Ahmed, how do you use that histogram?
its the trend if red so sell is ok if green then buy is ok
]]>Any Luck to have it in FSB
regards
]]>