The Swing Index attempts to determine the real price. The numbers range from -100 to +100. It is difficult to interpret in its raw form, and is usually summed to form the Accumulation Swing Index.
It is important to use the correct limit move for the commodity you are analyzing (e.g. $3.00 for T-Bonds, $0.04 for Heating Oil, etc). For a stock, limit move should be a large number, such as $10,000.
The Swing Index was developed by J. Welles Wilder and is described in his 1978 book New Concepts In Technical Trading Systems.
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