|
tradermike
 |
How do you plot an indicator from a different timeframe?
I would like to calculate something based on "daily" bars, but then view that result in different timeframes - such as on hourly or 5min charts. To make the example simple, lets say that I want to calculate the 15 period SMA based on the daily close, then see that plotted on a 5min chart.
I'd appreciate any help/input here. Thanks in advance,
--Mike
|
|
Matthew Greenslet
 Idol
    Posts: 2077
Joined: 2/27/2006
User Profile |
Currently this functionality does not exist in the software however it would be a great feature request. You may want to make the suggestion in our Feature Request thread on this forum.
|
|
tradermike
 |
Thanks for responding. I'll do that.
--Mike
|
|
Jim Dean
 Sage
       Posts: 3433
Joined: 3/13/2006
Location: L'ville, GA
User Profile |
Actually, you could write code in OmniLanguage for this indicator, yourself. For example, if you wanted to simulate weekly bars on a daily chart (without slavishly sticking to Mon-Fri = a week), you could just write code that plots the highest high of the prior five days, holding it fixed for the next five days, then changing its value to a new HH on the fifth day following. Also, do the same for the lows.
It would sort of look like a "channel". I can't envision a good way to plot the open and close ... could do the same thing, but it would not be the extremes of a five day period, rather it would be the Open of the first day of the five, and the Close of the last day of the five.
You'd get four "stairstep" lines on the chart.. could be different colors or styles, I suppose.
If you think this would be helpful, if I get some time I'll take a stab at writing the core logic out for you ... but I'll leave it to you to add the plot colors, etc.
Give it a try yourself, first, eh?
Jim Dean
|
|
tradermike
 |
Hi Jim,
Thanks for taking to time to respond, and for your offer of help. That is very nice of you.
Don't worry about spending time writing up some core logic for me. I am comfortable with doing some coding, after all it's kinda fun.
As for your suggestion, I understand the algorithm that you are proposing, but for my specific application I don't think it will work exactly as desired. (i.e. would need slightly different formulas to look at the indicator across hourly, 15min, 5min charts, etc. And getting it to start on the desired bar may be a challenge.) At the end of the day, I believe one needs to know both the date and time of a given bar in order to do this correctly.
Once again, thanks for your input.
--Mike
|
|
Bill Graves
 Veteran
    Posts: 184
Joined: 3/22/2006
Location: Phoenix, Arizona
User Profile |
This would be a nice enhancement to OT. This capability is a built-in function in Trade Station and very easy to plot almost anything from one time frame on any other time frame.
Regards to all,
|
|
tradermike
 |
Thanks Bill.
If you think this would be a useful feature then perhaps you could reply with your opinion to the feature request post located here:
http://www.omnitrader.com/omnitrader/proforum/thread-view.asp?threadid=713&posts=2
I assume that the more people who reply in support of feature requests, the more likely Nirvana will listen.
Regards,
--Mike
|
|
THOMAS HELGET
 Elite
  Posts: 610
Joined: 3/22/2006
Location: BALDWINSVILLE, NEW YORK
User Profile |
Jim:
I want to plot an indcator in a higher time frame along with the indicator in the current timeframe (daily and weekly). Were you ever successful in generating any code for this?
Thanks,
Tom Helget
|