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Worden Discussion Forum » Customer Training & Support » Ask a Trainer - TC2000 version 7 » opening range indicator

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valtore
Posted : Friday, October 6, 2006 12:43:48 PM
Platinum Customer Platinum Customer

Joined: 1/23/2006
Posts: 26
 have been checking worden data base for this ..to noavail.. would like to const. an indicator for the average daily 30 minute opening range over that past 22 trading days . Any guidence would be appreciated. thank you..JA
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Craig_S
Posted : Friday, October 6, 2006 12:45:55 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 I am not sure what you mean... do you mean the trading range for the first 30-min of trading for the past 22 trading days?
- Craig
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valtore
Posted : Friday, October 6, 2006 12:48:35 PM
Platinum Customer Platinum Customer

Joined: 1/23/2006
Posts: 26
 the 30 day average of the 30 minute opening price range.sorry, maybe a senior moment..
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Craig_S
Posted : Friday, October 6, 2006 1:36:00 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 I don't know of a way to automate this information in TeleChart.

In theory, we could plot a Custom Indicator to capture a certain 30-min bar (with the time frame set to 1/2 hour) but you would have to edit the plot every 30 minutes. It is not very practical.
- Craig
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valtore
Posted : Friday, October 6, 2006 3:22:51 PM
Platinum Customer Platinum Customer

Joined: 1/23/2006
Posts: 26
 thank you for your help.!
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Craig_S
Posted : Friday, October 6, 2006 3:26:12 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 My pleasure.
- Craig
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diceman
Posted : Friday, October 6, 2006 4:24:02 PM
Registered User
Joined: 1/28/2005
Posts: 6,049
 I don't know how Telechart handles real-time data.

If there is a "fixed" amount of bars in the day this would
be doable. (or at least close)

If there are 6.5 Hours in the trading day. Using 30min bars

there would be 13 bars in a day.

So it would seem like something like:

((H-L)+(H13-L13)+(H26-L26))/3

Could work.

(This would have to be taken out to 22 days)


Thanks
diceman
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Craig_S
Posted : Friday, October 6, 2006 4:46:55 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 This would work only work during the first half hour of the trading day using Real Time Indicator sorting on 30-Minute per bar charts.
- Craig
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diceman
Posted : Friday, October 6, 2006 9:07:00 PM
Registered User
Joined: 1/28/2005
Posts: 6,049
 valtore

Keep in mind if you try this method.

Things like shortened "holiday" sessions
will throw off the values of this indicator.

thanks
diceman
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