The Swing Index

[kenorb]

Swing Index: The Swing Index calculates a value based on four factors: opening price, closing price, high price, and low price. It ranges from -100 to +100, with higher values indicating stronger price swings.

#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 Red

//---- indicator parameters
extern int sw_length = 14;

//---- indicator buffers
double SwingBuffer[];

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int OnInit()
{
   // Indicator buffer
   SetIndexBuffer(0, SwingBuffer);
   SetIndexStyle(0, DRAW_LINE);
   
   return(INIT_SUCCEEDED);
}

//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int OnCalculate(const int rates_total,
                const int prev_calculated,
                const datetime &time[],
                const double &open[],
                const double &high[],
                const double &low[],
                const double &close[],
                const long &tick_volume[],
                const long &volume[],
                const int &spread[])
{
   int limit = rates_total - sw_length;

   for (int i = sw_length; i >= 0; i--)
   {
      double R = MathAbs(high[i] - close[i - 1]);
      double S = MathAbs(low[i] - close[i - 1]);
      double ER = MathMax(high[i] - low[i], MathMax(MathAbs(high[i] - close[i - 1]), MathAbs(low[i] - close[i - 1])));
      double K = MathMax(R, S);
      double SI = 50 * ((close[i] - close[i - 1]) + 0.5 * (close[i] - open[i]) + 0.25 * (close[i - 1] - open[i - 1])) / ER * K / sw_length;
      
      SwingBuffer[i] = SI;
   }
   
   return(rates_total);
}