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The Accumulation Swing index, introduced in the New Concepts In "Technical Trading Systems" book by Welles Wilder, is an oscillator based on the SI or swing index, which is a technical indicator that compares the current asset prices (close, open, high and low) to the previous bar prices. The swing index can be applied to commodities, forex currencies and stocks. It is available for download here Swing Index Indicator.
The Accumulation Swing index is a cumulative sum of the swing index. It is calculated by adding the value of the swing index to the value of the previous accumulation swing index for each bar.
The Accumulation Swing index generates a buy or bullish signal when the daily high becomes higher than the previous important swing index peak. A sell or a bearish signal occurs when the daily low becomes lower than the previous important SI trough.
The function allows you to enter one parameter, which is the limit move for the asset. The limit move is the maximum price deviation from the previous day close allowed. In case, the security does not have any limit move, stocks or currency pairs for example, you can use a high value for the limit move parameter (Example: 10000). Limit value makes sense only when you apply this trading indicator to futures contracts. For any other asset, just set a high value.
Although, the Swing index and the accumulation swing index can be applied to any instrument, they are primarily used in the forex market.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
