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Arps Universal Swing Tool

The universal swing tool is a “Swiss army knife” tool for displaying and analyzing price swings of different magnitudes. This tool generates a series of zigzag lines connecting successive swing highs and swing lows. Thereby, we are able to filter out the random noise in price fluctuations and focus our attention on the magnitude and speed of the up moves and down moves of price and their relationships to one another.

As well as plotting the basic zig-zag line, this tool has the additional capability of displaying the following information about the price swings

1. The magnitude of each swing, in points and/or bars
2. The ratio of the magnitude of each swing to that of the preceding swing (swing ratios),
3. The longer-term trend direction.
4. The swing reversal price, that is, the price to which a current swing will have to reverse to constitute a reversal of swing direction.

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