What's happening with SWING indicator?

[jjwint]

I have two issues that I'm curious about.

#1 Please refer to the attached image. Note the bars the arrow is pointing to.

I'm using the "SWING" indicator to automatically identify "fractals." In this case, I define a fractal as a High with two Lower Highs on either side. (Of course, the reverse is also true . . . a Low with two Higher Lows.) As you can see, the SWING indicator is set to a value of "2."

But where the arrow is pointing, the indicator appears to be telling me that there is a Fractal High . . . however, there are no lower Highs to the right.

I have seen other example of this. Can someone interpret what this means? Is this a "glitch" in the indicator? Conversely . . . what don't I understand?


#2 I would like to find a script that identifies FRACTALS with just a small arrow. I've downloaded several scripts and none do that. If anyone knows where there is one, please let me know. The SWING indicator draws a line to the right only, as far as I can tell. I just want to identify the High (Low) bar of the fractal.

Thanks

John

[NinjaTrader_AlanP]

Hello jjwint,

Thank you for writing in.

Going to Control Center>Tools>Edit NinjaScript>Indicator and selecting the Swing indicator, you can see in the code that a swing high can be greater than or equal too, and that a low can be less than or equal to, thus it would not be a glitch but rather how the indicator is coded. You could right click in the editor>Save as, and modify the code as you like.

Regarding a swing indicator with a small arrow, I’m unaware of one that exits however I would encourage you to check the indicator section of our forum if you have not done so already.

http://ninjatrader.com/support/forum/local_links.php?catid=7

If you’d like I can have someone from business development reach out regarding third parties that would be interested in developing an indicator for you.

Please let us know if you need further assistance.

[jjwint]

OK . . . got it. In a previous thread, someone said that the SWING indicator could be used to identify FRACTALS. But obviously if the indicator is scripted to identify a High with a "Lower High or EQUAL HIGH" then the poster was wrong. The SWING indicator can not be used . . . or at least you have to be very careful when using it.

However . . . I completely disagree with you when you say: "thus it would not be a glitch but rather how the indicator is coded."

It's absolutely a coding error . . . or perhaps better said a "design error" . . . because your "Swing Indicator" is not properly identifying swings!

Evidence to support my contention can be found just by looking at the Parameters for the indicator. Why would it allow you to select a "strength" if it's going to identify equal Highs/Lows? Doesn't make sense, does it?

It's like asking me if I want my coffee decaf or regular . . . and then serving me a cup of tea instead. LOL

Yessssssss . . . I suppose I could pay someone. Or, here's an alternative . . . why not have the guy who coded this go back in and fix the mistake?

A Swing High means the High will have Lower Highs on either side of it. How many should be a user-selected function. A Swing low means that the Low has a Higher low on either side of it. Again, the user should select the number of bars.

Whether called FRACTALS or SWING HIGH/LOW this is a common trading tool. I can't believe that NINJA would allow its indicator to be improperly designed. You guys are better than that!

I think this is a necessary fix and one that, if you advertise it, will pull in a lot of people to use this indicator.

[NinjaTrader_AlanP]

Hello jjwint,

Thank you for the suggestion.

So, I can best present your suggestion to development, could you provide documentation on the swing indicator which suggests the current logic is incorrect? Sample code, an article, etc? Or perhaps a link to another vendors swing indicator which nullifies a swing high if a bar to the right of the newly set swing high, has the same value?

I look forward to your reply.

[jjwint]

Alan, I couldn't find a way to attach a Word document to this response. So I responded via email and put PLEASE FORWARD TO ALAN P as the subject line.

Tell your Ninja developers that while I'm easy . . . I'm not cheap. :-)

I expect to be paid with some terrific improvements to the Ninja indicator set.

Thanks for your assistance.