Gann 2-Bar Swings

Posted on February 9, 2012

CH Choong: Despite Ganns reputation for the many esoteric studies that he used to make his trading
decisions, here is one study, the Ganns mechanical trend indicator that is easy to understand and
straightforward that works across all time frames. Recently, a couple of traders who are interested in Gann
Swings asked me to share with them the basic of x-Bar Swings rules and I felt compelled to highlight some
basic qualifications of Gann x-Bar Swings that is available in Ensign Windows and Ensign 10. While the rules
govern the x-bar Swings may be slightly different, the results are virtually the same over the long term.

What is a Gann Swing Chart?

One of the simplest of Ganns methodologies is the use of a swing chart pattern as a study of market swings
that takes advantage of the tendency for prices to ebb and flow in the short-term. The construction of a swing
chart results in what Gann called a trend line indicator that is based on price movement on a bar-by-bar that is
constantly evolving. And I have this to say that it is a good and simple price based method for objectively
defining market short-term price direction, whether the trend in force is likely to continue or is there a sign of
a reversal are present and for any pullback analysis with noticeable price pattern (between 1 and 3-days/bars
or periods) in an underlying strong trend. Using the high and low for the price bar or period, whichever
exceeds the previous x-bar or x-period becomes the trend line indicator.

In a nutshell, market swings are the true reflection of price movement and that means we can all know that
Price tells the trend. Its the simplest way to keep our mind focused on market direction at the beginning of
a new swing and exiting at or near the end of that swing to await the development of a new swing trading
opportunity. And finally, swing charts help filter out market noise with significant swing pivot highs and
swing pivot lows as peaks and valleys on the chart for easier identification of support and resistance,
especially with price levels traders.

I have listed the qualifications of a 2-Bar Swings below and I hope it helps you re-discover this simple and
effective method for defining market trend that is purely based on price behaviors without any optimization.

Qualifications of 2-Bar Swings.

From downswing to upswing: Two-consecutives bars or periods of higher highs will start the upswing.
From upswing to downswings: Two-consecutives bars or periods of lower lows will start the downswing.
Inside bar: All inside bars, including equal high or equal low inside bars, are neutral and they are not counted.
We are only interested in price making x-bar higher highs for upswing and price making x-bar lower lows for
downswing.
Outside bar: From downswing to upswing: Outside bar close must be above prior bar high to be valid as 1st
upswing.
From upswing to downswing: Outside bar close must be below prior bar low to be valid as 1st downswing.
Special Case with breakout of nearest swing pivot high or swing pivot low:
This option takes large price movements into consideration if the high or low of a swing pivot is broken before
the set number of x-bars has occurred.
For example, with 2-bar Swings, an extreme price range occurs on the 1st upswing or 1st downswing.
Normally this would not be considered until the 2nd bar/period had formed to make a complete swing pivot
where as the breakout rule takes this extreme price movement into consideration straight away. If not, we will
missed the significant swing pivot high or low.

Examples of 2-Bar Swings and 3-Bar Swings

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A Trading Strategy Using Gann Swing Charts

SEPTEMBER 24, 2009 BY JAMES HYERCZYK

http://tradingmarkets.com/recent/a_trading_strategy_using_gann_swing_charts-677667.html

Several months ago I wrote an article about the Gann Swing chart or Gann Trend Indicator. This article will be
about one of the exceptions to the rules laid out for the trend indicator. While the swing chart helps to identify
where the trend will turn up or down, knowing when to use exceptions to the swing chart can help a trader enter
and exit before an actual change in trend takes place.

Click here to order your copy of The VXX Trend Following Strategy today and be one of the very first traders to
utilize these unique strategies. This guidebook will make you a better, more powerful trader.

One of the issues that comes up when trading with a long-term trend indicator is dealing with the giving back of
open position profits. Proper use of an exception to the swing chart can help a trader move a stop before the
market gives back a substantial amount of an open position profit. In addition, counter-trend traders can use one of
the exceptions to enter the market before the trend actually turns to up or down. It should be noted that using an
exception to the swing chart can often increase the frequency of trading.

The 2-Bar Swing Chart Recap

To recap what was covered in a previous article, creating a Gann Swing Chart is an important first step in using
Gann analysis because it identifies the trend and the important tops and bottoms from which to draw the Gann
angles which is more advanced Gann analysis. In addition, the chart provides valuable information to the trader
such as size and duration of the swings. This information helps the trader find price and time targets and to identify
when the market is ahead or behind target.

Gann Swing Charts can be created for the minor trend or the main trend. Some analysts prefer the minor,
intermediate and main trend outlook. For this article we will use the 2-bar swing chart as our main trend indicator. A
2-bar swing chart measures swings only after the market has made two consecutive higher-highs or two-
consecutive lower-lows.

A minor or 1-bar swing chart would follow the one day swings of the market.

The main trend swing chart, or 2-bar chart, follows the 2-bar movements of the market. The combination of a main
trend line from a main bottom and a main trend line from a main top forms a main swing. This is important
information, because when stop placement is discussed, traders will be told to place stops under main swing
bottoms, not under lows, and over main swing tops, not over highs.

Figure 1

Once the first main top and bottom is formed, the trader can anticipate a change in the main trend. Starting from
the first day of trading, if the main trend line moves up to a new high, this does not mean that the main trend has
turned up. Conversely, if the first move is down, this does not mean the main trend is down. The only way for the
main trend to turn up is to cross a main top, and the only way for the main trend to turn down is to cross a main
bottom.

In addition, if the main trend is up and the market makes a main swing down that does not take out the previous
main swing bottom, this is a correction. If the main trend is down and the market makes a main swing up that does
not take out the previous main swing top, this is also a correction.

A market is composed of two types of up and down moves. The main swing chart draws attention to these types of
moves by identifying trending up moves and correcting up moves, as well as trending down moves and correcting
down moves.

An Exception to the Swing Chart

The two most important exceptions to the trend indicator rules are the signal top and the signal bottom. I have
studied this formation extensively and have concluded that these are universal patterns. In other words, it does not
matter which market is traded: at some point they all post either a signal top or signal bottom at major tops or major
bottoms.

Signal Top

A signal top can be defined as follows: following a prolonged move up in terms of both price and time, a market has
a higher-high than the previous time period, a lower-close, a close below the time periods mid-point, and a close
below the opening. If this occurs, consider it as a sign that the market has topped and that the trend is getting
ready to turn down.

Figure 2

This signal alone may not be enough to trigger a sell, because often there is no follow-through break, and the
uptrend resumes. The follow-through break is necessary, as it confirms the signal top formation.

The signal top is often called a closing price reversal top or a key reversal top, but these terms are not as specific
as a signal top, as neither mentions the close below the days midpoint, the close below the opening, or the follow-
through break, nor the prolonged move in price and time.

Signal Bottom

A signal bottom is defined as follows: following a prolonged move down in terms of both price and time, a market
has a lower-low than the previous time period, a higher-close, a close above the time periods midpoint, and a
close above the opening. If this occurs, consider this a sign that the market has bottomed and that the trend is
getting ready to turn up.

Figure 3

Like the Signal Top, the signal bottom needs to be confirmed by follow-through buying. This usually takes place
during the next time period after the bottom when the market takes out the previous time periods high.

Conclusion

These two exceptions, signal tops and signal bottoms, to the standard stop rule are designed for aggressive
traders who want to lock in profits before the market retraces all the way up over a swing top or through a swing
bottom. It should be noted that these stops when executed do not represent a change in trend, but are often
important indicators of changes in trend that are going to take place in the very near future. These stops are also
very effective in active, fast-moving markets when the market makes several large swings over a short period of
time.

James A. Hyerczyk is a registered Commodity Trading Advisor with the National Futures Association. Mr.
Hyerczyk has been actively involved in the futures markets since 1982 and has worked in various capacities from
technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk
incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis.

His published works include articles for Futures Magazine, Traders World, SFO Magazine, Forex Journal, and
Commodity Perspectives (Commodity Research Bureau), and, his book Pattern, Price & Time published by John
Wiley & Sons, Inc. in 1998.

THE GANN SWING CHART

http://www.pricetime.net/free_gann/GN_INTRO_swing.html

The vast majority of new traders, and even a few old timers, believe that W.D. Gann's
major contribution to the art of speculation was one of his many "calculators," like his
Master Mathematical Formula, or his ever so elusive "Square of Nine", actually the
SPIRAL CHART, or one of the other exotic methods he "dabbled in" from time to
time...but they couldn't be more wrong!

The real master trader delivers his best product in the form of a diverse dossier of
common sense strategies to identify the trend in a stock, or commodity, and the rules for
riding that trend to it's fullest profit potential. In the world of W.D. Gann, the tortoise who
sees the true value of these simple but time proven trading methods should easily outpace
the hare who chases that always elusive magic formula for "the one big score."

Of course, the majority of old timers already know that, or they wouldn't be old timers, or
at least not in the art of speculation and trading.

While it's been reported that Gann could "day trade" with best "tape readers" of his
time, it should be clear to anyone who has seriously studied his literary works that W.D.
Gann's primary trading strategy was "swing trading, "trend trading," and "position
trading". While the modern definition of swing trading does not include the computer
generated "swing chart," it is the "key chart" which we, at the Price-Time Review, use to
trade. It is a very important part of our metrology to determine the current trend, with
Elliott Wave counts applied, and when a reversal is most likely to occur...or has already
occurred.

The graphic below shows a good, and up to date, example of how we use these Swing
Charts in our analysis, eventhough, we are not what some would call "swing chart
traders."
IF you are an Elliott Waver, and you have not been using Mr. Gann's Swing Charts, or the
Point and Figure chart as shown above, to "reduce" the noise of intra-day and inter-week
trading, so as to get a better view of the current wave count, or at least a 2nd opinion of it,
then that chart has probably knocked your socks off. Enjoy it, but please don't forget who
showed it to you, as we need the monthly clients and this is not a non-profit business.

<Example #2: Using Gann Swing Charts for wave and pattern analysis. >

W.D. Gann's "primary" trading tool was the--GANN ANGLES--used in conjunction with
the his "Rules of Eighths" to divided the "price range" of prior" corrections, or rallies,
which he called bull and bear campaigns, and the "Geometric Square" of those prior
prices, times, and "ranges" to future price and time.

At PTR, we call the "square" of the price range to TIME of a decline down simply "the
Bear Square," and the square of the price of that decline to future TIME--going back up
and positioned at the major CIT low--as "the Bull Square," and they are the cornerstone
AND foundation of our Gann analysis.

What he was doing is very cleaver, well thought out, and obviously "back tested" on many
real world charts. A cursive overview of his trading method can best be defined as: 1)
identifying the major trend by first identifying a "reversal," then 2) "estimating" the
strength of the new trend based on it's trend angle in relation to a few "standard" angles he
applied to the daily, weekly, or monthly charts...if set to the correct "scale."

While Mr. Gann did maintain a yearly and hourly chart for some stocks and commodities,
the monthly chart was his "Master Square of 12," and I concur that this is "usually" the
most important chart to define the scale, or "frame of reference," for INDIVIDUAL
STOCKS, STOCK INDEX PROXIES, AND EVEN THE STOCK INDEXES
THEMSELVES.

As part of his key trading strategy, he needed to actually "observe the ACTION" of
volume and price, or index values, as they "reacted" with his key angles, and since there
are no guarantees in this business, Mr. Gann always maintained a stop loss to protect the
trade in case his "estimation" proved incorrect. A the PTR, we follow this exact same
method, but we also use many other indicators to confirm a trend and or a reversal.

For the greater part of his life, W.D. Gann searched for a "Holy Grail" formula,
"calculator" (look up table) or overlay that would DIRECTLY EQUATE price to time
AND across a wide spectrum of stocks and commodities.

Unfortunately, I'm "extremely confident" that he "finally" realized that there is no such
thing, and settled down with his time proven strategies for trend and reversal detection.
Also, I'm not sure whether he ever realized that his methods "usually" do not work on long
term charts, but it really doesn't matter since we now have the Fibonacci trend to take over
when (not if), Mr. Gann's linear lines and parabolic curves fail.

While W.D. Gann used a wide variety of other techniques to aid in his "forecasting" of a
stock or market trends, the underlying basis of his trading was just as I have described it
in the paragraph above. I have very little no doubt of this premise because it took me nine
years to arrive at that same conclusion, while it appears W.D. either arrived at that
conclusion a lot early then I did, or he had a darn good mentor.

Based on the strength of the 1909 Ticker Magazine article, it appears that Mr. Gann
either learned the art of speculation very quickly, or he had a natural intuition for the
business that guided his path. Regardless of how he came to be an expert trader, it is
apparent that by the nineteen twenties he was a highly experience professional capable of
formulating the rules for others to follow if they were seeking to speculate in the financial
or commodities markets.

At the PriceTime review, we only use those "methods" that W.D. Gann "clearly"
described, which are also the only ones we understand, and we apply them just as he
explained them in his trading courses. We make no effort to change what we don't like or
don't understand, and we do not use or support any of those "alternatives" that claim to be
part of Gann theory, but which, in reality, have little or nothing in common with W.D.
Gann's actual work except for the simple division of a range into one eighths.

Now, I know that many people use and believe in these "SIMPLE alternatives," and that
is just fine with me, but we don't and we have studied the three major alternatives in depth,
so we do not exclude these methods out of ignorance. To the contrary, we paid out
somewhere near $1,100 for all the programs, software, manuals, and books to test them
ourselves. If one reads a lot of W.D. Gann's work, you will soon realize that he
"projected" so many price points and cycle times "forward" that he said were "important to
watch for a change in trend" that it would be nearly impossible to miss one.
 Now, I'm not sure whether this was by design or it just came out that way, but one thing
is for sure, the alternative methods have more "targets" or SRL's (support-resistance lines)
then a full blow Gann chart, and I though that was impossible. So much for the reason for
the swing chart, now I'll quickly describe it and show a few graphics.

First of all, the GANN SWING CHART has no connection or association to his
ANGLES, his Geometric SQUARES, or his mathematical SPIRAL CHART, so don't get
them mixed in together. The main function of the swing chart is to "filter" out some of the
short term "noise" of trades. To accomplish this Gann devised a method to connect a trend
line along a series of higher-highs and lower-lows until this string was broken by a
reversal to a new string of lower lows and (not or) lower highs. He called this "string" a
"Trend Line Detector." During a transition in the direction of a trend a stock or index may
trade for many, or a least a few, time periods when it is not either advancing or declining,
and it's this "non directional noise" that is eliminated by the construction of the swing
chart.

Modern swing charts are not just a trend line drawn along only the tops or bottoms of
high-low bar charts as they were when Gann described them as his "mechanical system."
The software generated swing charts eliminate the individual bars and condense a "trend"
into a single vertical line who's height is proportional to the number of days (or other time
periods) in the trend.

In the IBM daily swing chart, below, you can see that the price went into a down trend
on 1/15/2003 from a high at 88. This down trend made lower lows and lower highs every
day for seven "calendar" days, dropping nine points to 79. It then made a reversal up for
two day to a higher high at 81. This "swing trend" was actually only five trading days plus
a weekend, which is the way the Gann Analyst program works, and it's the way Gann did
his, or so "they say." You have to be careful with this time scale difference if you're using
days to check ratios between ranges, and the best way to do this is don't, or at least don't
do it on the swing chart.

When the "swing trend" was down, with lower lows and lower highs, day after day it had
to make a higher high with a higher low to get a "reversal." Needless to say, this starts a
vertical line going up until the new string of higher highs and higher lows is "reversed." In
the case of IBM, the new up trend only lasted two days before a new lower low and lower
high was made on 1/25/03. The chart then picked up two empty weekend days (1/25-1/26)
and made a temporary low on Monday 1/27/03 at $77.61. You only see 77 on the swing
chart, and that is because I had the decimal point settings at zero, other wise it would have
displayed the actual $77.61. These extra digits take up a lot of room when I'm trying to
keep the pic's as small as possible, so I don't usually carry the fractions.

This construction method for the weekly, monthly, and quarterly charts would follow the
same process and trace out a continuous series of "mini trends" in the same manner as
I just described. The only difference is that the high-lows are weekly extremes and the
mini-trend minimum time after a reversal is one week-month-quarter. In the Gannalyst
software program that we use, and which generated the IBM chart below , the "calendar
days" in a "mini-trend" are shown for this daily chart. In a weekly chart the "mini-trends,"
called "swings"are in block of seven calendar days, so if an up trend says 7d then it could
have been anything from one to five days. The same is true for months, and quarters, and
the time of the "swing" on the monthly chart will show as a minimum of 28d to 31d even
though the actual "swing" may have lasted only one day, when checked on the daily chart,
since the "reversal" could have occurred on the last day of that month. Once again, you
can see, comparing time on these charts can lead to trouble; however, since we are mainly
interest in the price levels, "reversal," and the overall swing chart pattern, this little
"caution" with time is no big deal.

The next graphic shows the construction and labeling on the IBM swing that was
generated by Gannalyst Professional, and then I continue the description below that.

The Swing Chart Construction

W.D. Gann drew his swing charts on chart paper by drawing a line alone the highs or lows
of his current high-low bars chart. He called this line a "Trend Indicator Line," or TIL as
abbreviated. The Trend Indicator Line can be applied to a daily, weekly. monthly,
quarterly, or even a yearly chart you have the historic data. In the following description, I
will use the daily chart as an example, but where I'm saying "today" or "previous day" you
can substitute "this week-month-or quarter," and, of course, "previous week-month-
quarter" The chart is based on the extreme inter day highs and lows, or extremes for the
week-month-quarter periods for those charts. The Trend Line Indicator moves up to the
high of today's candle if today's candle is a higher high than the previous day. If the next
day's candle has a lower low then the indicator line moves to the bottom of candle. The
exceptions to this process are the inside days and outside days.
A few things to note: Openings and closes are not important in developing of this chart,
only thing that is important is if the market makes a higher high and a higher low (up).
Also, inside and outside trading days are consider neutral bars and the main trend will
continue until the market makes "definite sign" of trend change. Gann connected the lows
together when the trend was down, and connected the highs together when the trend was
up. The basic process is called a one day trend line indicator. A two day line indicator
needs two consecutive bars (two days) of making higher highs and higher lows or lower
highs and lower lows.

Outside Day

An outside day occurs when the day's high is higher than the previous day and the day's
low is lower than the previous day. If the outside day occurs after a series of higher high
days, and the high occurs before the low during the day, then connect the trend line
indicator to the high and draw down to the low. The opposite would be true for outside
days following a lower low day. .

Inside Day

An inside day, as the name suggests, is a trading day with a range where the high is lower
and the low is higher than the previous day's range. Inside days are generally ignored all
together. However, if an inside day occurs after a lower low and is then followed by a
higher high, the TIL moves to the new high. If the inside day is followed by another lower
low, which does not exceed the existing TIL low, the TIL does not move. Only when the
existing TIL low is exceeded can the TIL continue down. The converse is true for inside
days following higher highs.

Applying the Swing Chart

Turning a bar chart into a swing creates a smoothed price chart where a series of higher
tops and bottoms translates into a clear and obvious uptrend and vice versa for a series of
lower tops and bottoms. The chart above is a daily charts to compare IBM as a bar
Candlestick chart and a Gann swing chart.

Swing Bottom

A bottom occurs when the TIL has gone from the high price on the range to a low price
and then back to the high price on the next day's range. Although this implies it would
occur over a three-day period, it could take longer. The trend is up when there are higher
swing bottoms after a swing top has been broken.

Swing Top

A top occurs when the TIL has gone from a low price on the range to a high price and then
back to a low price. As for a bottom, it can take longer then three days. The trend is down
when there are lower swing tops after a swing bottom has been broken.

The Entry Signal

According to Gann, when the trend is up, a buy signal is given when a new high is made
after the swing bottom is established. Conversely when the trend is down, a sell signal is
given when a new low is made after a swing top is established. Gann defined a pyramiding
technique where for instance a short position is added to at the break of a new swing low.

The Stop Loss Level

The stop loss level for Gann swing trading is based on the recent swing in the opposite
direction.

Needless to say, the software is the way to go, and if you have an couple of G's ($2000) to
spend, the HOT Trader program "looks like " a first class program to swing with, but I
have not used it myself. The URL can be accessed from the links selection on the home
page menu.

If you're looking to do just swing charts without all the other "goodies" that most programs
tack on, for a much high price of course, then Gannalyst Professional or even the
Gannalyst lite, which was free at one time, will do nice swing charts. The Profession
works with most date feeds but the Lite version only works from end of day ASCII data, I
think. Therefore, it's fine for a chart here and there, but would quickly become a problem
if your working with many charts or trading from it. For part timer traders that have not
used Gann before, I suggest you work with the Lite program before dropping $500 for the
Professional program and another $400 a year in data to feed it.

For The Price-Time Review

Andrew J. Quiggly
Editor
http://www.meta-formula.com/Metastock-Formulas-G.html

Gann High Low

{name: GANN-HiLo}

HLd:=If(CLOSE>Ref(Mov(H,3,S),-1),
{then}1,
{else}If(CLOSE<Ref(Mov(L,3,S),-1),
{then}-1,
{else}0));
HLv:=ValueWhen(1,HLd<>0,HLd);
HiLo:=If(HLv=-1,
{then}Mov(H,3,S),
{else}Mov(L,3,S));
HiLo;

(Go Top)
Gann Hi-Lo

colA
BUY
BarsSince(C< Fml("GANN-HiLo"))

colB
SELL
BarsSince(C> Fml("GANN-HiLo"))

filter
colA=1 OR colB=1

(Go Top)
Gann-Swing

{Market swing is defined as:

Up = 2 higher highs,
Down = 2 lower highs.}
Us:=BarsSince((H > Ref(H,-1)) AND (Ref(H,-1) >
Ref(H,-2)));
Ds:=BarsSince((L < Ref(L,-1)) AND (Ref(L,-1) <
Ref(L,-2)));
Sd1:=If(Us=0,
{then}If(Ref(L,-1)<>LowestSince(1,Ds=0,L),
{then}1,
{else}0),
{else}If(Ds=0,
{then}If(Ref(H,-1)<>
HighestSince(1,Us=0,H),
{then}-1,
{else}0),
{else}0));
Sd2:=If(Sd1=1,
{then} If(Ref(BarsSince(Sd1=1),-1) >
Ref(BarsSince(Sd1=-1),-1),
{then}1,
{else}0),
{else} If(Sd1=-1,
{then}If(Ref(BarsSince(Sd1=1),-1) <
Ref(BarsSince(Sd1=-1),-1),
{then}-1,
{else}0),
{else}0));
TD1:=ValueWhen(1,Sd2<>0,Sd2);
Td1;

(Go Top)
Gann Swing Update

This is an update to Gann-Swing indicators I had posted several months

back. Most of the code has been improved and I have modified the swing
definition slightly.

Gann Weekly Expert Instructions

1. First create a new expert and name it whatever you want.

2a. under "trends" tab put this code for bullish:
ut:=FmlVar("GANN-Trend","TDV");
uplot:=If(BarsSince(Ut=1)<
BarsSince(Ut=-1),1,0);
uplot=1;
2b. and this for bearish:
dt:=FmlVar("GANN-Trend","TDV");
dplot:=If(BarsSince(dt=1)>
BarsSince(dt=-1),1,0);
dplot=1;
Then click on the "ribbon" option and turn off "Display Vertical Lines", I
also turn off
the corner option.
3a. Under highlights tab create a new and call it "HiLo Change", choose
color, and enter this code:
HLd:=If(CLOSE>Ref(Mov(H,3,S),-1),
{then}1,
{else}If(CLOSE<Ref(Mov(L,3,S),-1),
{then}-1,
{else}0));
HLv:=ValueWhen(1,HLd<>0,HLd);
HLv<>Ref(HLv,-1);
3b. Create new and call it "Up-Trend", choose color, and enter this code:
ut:=FmlVar("GANN-Trend","TD");
uplot:=If(BarsSince(Ut=1)<
BarsSince(Ut=-1),1,0);
uplot=1;
3c. Create new and call it "Down-Trend", choose color, and enter this code:
dt:=FmlVar("GANN-Trend","TD");
dplot:=If(BarsSince(dt=1)>
BarsSince(dt=-1),1,0);
dplot=1;
4a. Under "Symbols" tab create new and call it " UpSwing", enter this code:
FmlVar("GANN-Swing","SD2")=1;
then under graphic choose "Buy Arrow", choose color (Dark Green), and small
size, then pick "Above Price Plot".
4b. Create new and call it "DownSwing", enter this code:
FmlVar("GANN-Swing","SD2")=-1;
then under graphic choose "sell arrow", choose color (Dark Red), and small
size, then pick "Below Price Plot".
As for the HiLo ....just plot it as a regular indicator and choose the last
"style" option under "color/style" tab.

Note: For daily bar charts ribbon use these formulas:

2a. ut:= FmlVar("GaW-Trend","TDV") ;

uplot:=If(BarsSince(Ut=1)<
BarsSince(Ut=-1),1,0);
uplot=1;

2b. dt:= FmlVar("GaW-Trend","TDV") ;

dplot:=If(BarsSince(dt=1)>
BarsSince(dt=-1),1,0);
dplot=1;

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Gann-Trend

{Swing Direction}
Sd:= FmlVar("GANN-Swing","TD1") ;
{Swing Change High}
Sch:=If(Sd=1 AND Ref(sd,-1)=-1,
{then}1,
{else}0);
{Swing Change Low}
Scl:=If(Sd=-1 AND Ref(Sd,-1)=1,
{then}1,
{else}0);
{Peak Value}
Pv:=If(Scl=1,
{then}HighestSince(1,Sch=1,H),
{else}0);
{Trough Value}
Tv:=If(Sch=1,
{then}LowestSince(1,Scl=1,L),
{else}0);
{Trend Direction}
Td:=If(H>ValueWhen(1,Pv>0,Pv),
{then}1,
{else}If(L<ValueWhen(1,Tv>0,Tv),
{then}-1,
{else}0));
{UpTrend=1 DownTrend =-1}
Tdv:=ValueWhen(1,Td<>0,Td);
Tdv;

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The New Gann Swing Chartist Plan (Robert Krausz)

http://www.x-trader.net/articulos/tecnicas-de-trading/the-new-gann-swing-chartist-plan-i.html

http://www.x-trader.net/articulos/tecnicas-de-trading/the-new-gann-swing-chartist-plan-ii.html
http://www.x-trader.net/articulos/tecnicas-de-trading/the-new-gann-swing-chartist-plan-iii.html

http://www.x-trader.net/articulos/tecnicas-de-trading/the-new-gann-swing-chartist-plan-iv.html

http://www.x-trader.net/articulos/tecnicas-de-trading/the-new-gann-swing-chartist-plan-v.html

http://www.x-trader.net/articulos/tecnicas-de-trading/the-new-gann-swing-chartist-plan-vi.html