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Swing Bias NT8
Part of the Harmonic Trader Platform
Swing Bias for NT8
Based on the old adage, “An up trend has higher highs and higher lows; and a downtrend has lower highs and lower lows.”
The Swing Bias tool helps by highlighting swings by drawing a green or red box indicating that the swing made a new high or low.
Gray bars show that price is retracing within a move that recently made a new high or low (this is the area where a trend trader would look for an entry with the expectation that the trend may continue).
Other features include:
- Continuation Lines to show where swing/bias will be continue
- Reversal Lines to show where swing/bias will be broken
- Reversal lines also indicate potential reversal times based on Fibonacci Time (customizable)
- Optionally color bars or output rectangle highlighting the Swing Bias
Easy to Use!
It’s easy to turn this feature on or off via the icon on the Harmonic Trader Platform Toolbar. Within the parameters, you can turn the rectangles on/off, the colored bars on/off, and other customization options.
Out Swing Bias indicator highlights the swings making “higher highs and higher lows” and “lower highers and lower lows”.
In the example below, the added texts highlights the steps and logic that this tool is showing you.
As a trend trader, if the latest colored continuation swing is green (bullish), then you look to buy the dips. If the latest continuation swing is red (bearish), then you look to sell the rallies. The gray bars are merely the bars during a pullback, where you are looking for a potential entry into the existing trend.
Thus, when a pullback is happening, you are looking for a place to enter long within the range of the latest swing block. If price goes below that swing (below the reversal line), then it would indicate a potential bias change. The location within that range is where we are looking for support/resistance using the other tools at our disposal, such as the Harmonic Pattern Analyzer™ and AB=CD Symmetry tools.
Note: A bias rectangle is not drawn until a bias is broken or continued. It’s not a tool for entry or trigger, but merely bias. The Harmonic Pattern Analyzer and AB=CD Symmetry tools are some ways used for finding support and resistance during a pullback.
Here is another example of bullish swings broken, giving way to bearish swings, which was again broken to the upside:
Here is the same chart with the “boxes” hidden and only having the bar coloring enabled. All customizable! (and a bearish Gartley thrown in there…)
Here is a quick look at the parameters, which highlight the customizability of this tool.
Many features can be disabled to simplify your chart once you determine what works best with your trading style.
The boxes around continuation swings, the coloring of the bars, the lines indicating where a trend can continue or reverse, the Fibonacci time percentages, and all the applicable colors can all be configured!
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Trading contains risk of loss and is not for all investors. The information on this site is meant for educational purposes only. There is no guarantee that you will profit from the information contained herein. Past performance is not necessarily indicative of future results. The information contained on this site is meant to be used as just another tool to assist you in arriving at your trading decisions.
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