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Jim Dean

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Posts: 3433

Joined: 3/13/2006
Location: L'ville, GA

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Subject : RE: Correlation angle System
Posted : 6/3/2020 7:06 AM
Post #31155 - In reply to #31152

It is already possible to do this, albeit not with fancy symbols. You can plot a short vertical dash above or below the candle, using a command like this:

Plotpricetrendline(“BullEntry”, bar, L-ATR()/10, bar, L-ATR/2, Green, 5)
… or for shorts:
Plotpricetrendline(“BearEntry”, bar, H+ATR()/10, bar, H+ATR/2, Red, 5)

Of course you can adjust the ATR divisors to make the dash closer or further, or make it longer or shorter. Adjust the final width to make it fatter or thinner. It depends on how you view your chart (ie 3 mo vs 12 mo or whatever) as to how thick the dash should be. It is possible but tricky to come up with a generic solution that works for all different symbols (volatility, price) and x-axis settings. This is the easy method. If you are using it on a bunch of different symbols and x axis settings, I suggest that you use an input param to define the width, and another one to possibly adjust the heights.

PS: I’ve been asking for OLang symbol and alphanumeric plotting for many years. Don’t hold your breath. That’s why I developed this method.

[Edited by Jim Dean on 6/3/2020 7:07 AM]

Deleting message 31155 : RE: Correlation angle System


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