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Custom Formula to Overlay on Candles Rate this Topic:
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traderlady
Posted : Friday, November 2, 2018 2:13:10 PM
Registered User
Joined: 10/7/2004
Posts: 1,178

Hi Bruce, 

Using a one-minute real-time chart, I've tried various overlay ideas for one-minute Histograms overlaid on candles.

The custom formula I am proposing would represent the typical contrast between yesterday's total volume divided by 390 minutes (to create a one-minute volume average for yesterday) with each one-minute volume bar today.

In addition, when working with one-minute candles, I find it's best to back up the custom formulas to base them not on the current bar (which is still calculating in real-time) but the previous bar in which the calculations are complete.

The purpose of the new custom formula I am proposing is the reduce the number of Anchors I am drawing on Gaps Up.  So, when the value of today's one-minute volume bar (previous to the one that is now calculating) is less than the Yesterdays Average One-Minute Volume, then I would not Anchor a One-Minute Gap Up.

I am most appreciative of your help, as always,

traderlady

 

 

 

 

 

 

Bruce_L
Posted : Friday, November 2, 2018 3:08:43 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

So do you want a condition formula like the following?

V1 < AVGV390.1

Or an indicator formula more like the following?

100 * (V1 / AVGV390.1 - 1)



-Bruce
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