Super Swing Line

Creator: Definedge

Default percentage: 3%

The chart is plotted with a single line when we plot a super swing line

Bullish trends are indicated by a rising Super Swing Line (green line).

Falling Super Swing Lines (Red lines) indicate a bearish trend.

Similarly to the super trend or moving average, the super swing line is a trend following indicator.

To plot this indicator, trend following based on the risk appetite of the trader is considered instead of price trend or volatility.

As an example, if a trader doesn’t want to take a risk of over 3% he will use an indicator to ride the trend while keeping this factor in mind and also measuring the strength of the trend.

It is possible to use a super swing line as a trailing stop-loss mechanism. A trader or investor may adjust the parameters according to his or her preferences and style.

The indicator table value in TradePoint & RZone also provides you with a list of all values of this indicator for any group of stocks. This will allow you to compare the readings of this indicator across different stocks.

This indicator is also available in the System Builder of RZone & TradePoint for all charting methods. Using the system builder, you can develop various strategies based on the different conditions already present in this indicator. Additionally, it can be used with other indicators or price patterns to develop effective trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.

The indicator is applicable to all types of charting. Calculated based on the number of columns on P&F charts, bricks on Renko charts, lines on Line-break charts, candles on Heikin ashi charts, and lines on Kagi charts. While the formula and reading of the indicators remain the same, they become more dynamic on these charts.