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tradermike

 
Subject : Plotting indicators across multiple timeframes
Posted : 10/16/2006 5:22 PM
Post #3309

I would like to have the ability to create an indicator based on one timeframe, but then have that value plotted on a different timeframe.

Conceptually, this is similar to plotting daily & hourly support/resistance & trendline values on say a 15min chart.

For example, let’s say that you want to calculate the 15 period SMA based on the daily close, then see that plotted on a 5min chart. (If you think about it, this value would show up as a horizontal line during the shorter timeframes.)

Right now in OmniLanguage we refer to variables such as O H L C. We can also do things like use the value from the close of yesterday by using “C[1]”. The restriction is, this always refers to the current timeframe. I would like to have the ability to specify the value from a particular date and/or time. I’m not sure what the best implementation is, but here’s a generic example or two:

C[1, D] >> where “1” is the previous “bar” and “D” is the “bar” time or type (daily data in this case).
C[1, H] >> where “1” is the previous “bar” and “H” is the “bar” time or type (hourly data in this case).

It would also be of value to be able to specify a specific bar within a given timeframe. For example, the 9:00am bar on the hourly chart.

My first motivation for making this request is related to a previous request:
http://www.omnitrader.com/omnitrader/proforum/thread-view.asp?threadid=711&posts=1
It was requested that OT add some sort of Pivot Point charting capability. (Commonly used in the FOREX arena.) Then I thought that I could probably just code up this indicator myself. But now I learned that we currently cannot reference values from a different timeframe. So here I am.

I suspect that after one thinks about this request for a while, you will realize that there probably are several useful applications for this feature (plotting indicators across timeframes) and I suspect other people will be interested too.

Thanks for your consideration.
--Mike


[Edited by tradermike on 10/16/2006 5:22 PM]

Deleting message 3309 : Plotting indicators across multiple timeframes


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