In his book “Long Term Secrets to Short Term Trading”,Larry Williams introduces the concept of Greatest Swing Value or GSV.The technique trys to catch the reversal day of a short term trend.

The basic idea involves volatility breakout and it is about the concept of failed swing.The critical element is to only take a buy signal after down days and sell after up days.

Example for uptrend:

(i)If today close is greater than the close of five days ago(uptrend),we look at those previous “n” days where C>O(updays) and then for each day with that characteristic we calculate the down swing(the difference between Open and Low)

(ii)Then we calculate the average down swing(“avds”),multiply it for a factor(1.8),and subtract it to tomorrow open:

a:=O-1.8*Ref(avds,-1)

(iii)If tomorrow price drop down “a” level,we’ll sell

Example for downtrend:

(i)If today close is minor than the close of five days ago(downtrend),we look at those previous “n” days where C<O(downdays) and then for each day with that characteristic we calculate the up swing(the difference between High and Open)

(ii)Then we calculate the average up swing(“avus”),multiply it for a factor(1.8),and add it to tomorrow open:

b:=O+1.8*Ref(avus,-1)

(iii)If tomorrow price break up “b”,we’ll buy

I hope I was clear and I hope to find someone that can translate in BC language this technique.

Thanks