Studies · Trend
Swing Index
swingIndex · Wilder's swing index — one bar's move against the limit move
Drawn in its own panelReads open, high, low, close
Hover the chart to read values · practice data: a seeded random walk with no overnight gaps
What it measures
Wilder's attempt at the "real" price change of one bar. It blends today's close-to-close move with today's candle body and a quarter of yesterday's body, scaled by the bar's range and by how big the move was compared with the instrument's daily limit move. The result stays within −100 to +100 as long as the limit is at least as big as the largest move; with a smaller limit it can go beyond.
How traders use it
- Mostly used through its running total, the Accumulative Swing Index, which is easier to read.
- Positive values mean the bar swung up, negative down; large values mark strong bars.
Parameters
| Name | Value | Default | Allowed | What it does |
|---|---|---|---|---|
| limit | 5 | any | The instrument's limit move: the largest price change allowed in one session (a futures concept). There is no natural default for stocks; pick a value larger than the biggest daily move you expect. It scales the whole reading. |