Registered User
Joined: 12/5/2004
Posts: 10
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When writing a Custom Condition I am asked for the time frame. If I select one day, will this Custom Condition also be valid if I change the time frame on the chart to other than one day?
I.E will it work with one week, one hour. 15 minutes etc. or is it necessary to write the Custom Condition for each time frame I plan to view?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The formula itself is time frame agnostic. The formula calculates in bars.
So if the formula is used as a Custom PCF Indicator on the chart, then changing the time frame will change the time frame being used in the formula. In a daily time frame each bar will be a trading day and in a weekly time frame each bar will be a calender week.
If you just write the formula and save it, the time frame is the default time frame which is set when using it anywhere besides on the chart. So for example, if you save a formula with a daily time frame and add it as a WatchList Column later, the WatchList Column will be set to daily when added to the layout.
That said, you can generally go in and change the time frame anyplace where it is used. You can edit a WatchList Column to change the time frame being used by that WatchList Column. You can edit individual EasyScan Conditions to set different time frames for each EasyScan Condition.
You could add the same formula multiple times to the same EasyScan or WatchList for example and set different time frames for each instance of that formula without creating multiple formulas to do so.
But, if you are asking if changing the time frame of the chart will then change the time frame of a formula in a WatchList Column or EasyScan Condition to match, this is not the case. The time frame of the WatchList Column or EasyScan Condition is independent both of each other and the chart. So changing one time frame will not change another time frame frame (except in the case of multple charts linked using the Time Frame Linking Feature).
-Bruce
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Registered User
Joined: 7/29/2010
Posts: 417
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Bruce,
Your above post is a great reminder of the interrelatedness of the software components.
It is very useful to me to reread it periodically so I remember all of the options available for any given indicator or scan.
Could it somehow be saved as a sticky or put in some other easily accessible place so I and others can quickly retrieve it?
Thank you,
Don
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