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Registered User
Joined: 11/21/2004
Posts: 15
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Is it possible to construct a formula that will allow simple horiziontal lines to be drawn? I am trying using the price channels but that wont do it as far as I can see.. would like for example to be able to plot the highest high and lowest low of the last period.. say 60 days.. forming simple horizontal lines at those points across the visible chart...
Also trying custom indicators but same problem.. all the formulas I try give running results.. so that there is always a stepping element as it recalculates for each bar.. rather than plotting a constant simple horizontal line relating to the specified high or low..
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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You could plot MAXH60 or MINL60 but they too would be a running calculation. The only way to get the horizontal line is manually with the drawind tool. You can manually put it on the chart.
Press "D" on the keyboard and hold the SHIFT key as you draw the trendline on the chart. It will force the horizontal line. There is no automatic way of doing this that I can think of.
- Craig
Here to Help!
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Registered User
Joined: 1/1/2005
Posts: 2,645
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Please construct the following Custom Indicators in the Top Window:
1) C-C+1
Check "Center Zero Line".
2) C-C-1
Check "Center Zero Line".
The lines are on the highest high and the lowest low on the screen, not just for 60 days. If you copy the lines with extended horizontal trendlines as Craig suggested, the trendlines will stay fixed on that item as you change zoom or the right-edge.
If you hit the "-" key to get a clearer view of the lines, be sure you are on Arithmetic Scale.
Thanks,
Jim Murphy
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Daily bar chart on zoom 6 shows 65 bars...very close to the desired 60 day time period. I really like bustermu's solution...especially when you use the minus key to compress the chart on an arithmetic scale. Really gives a clear picture of the trading range for the 60 day period.
- Doug
Teaching Online!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Nice use of TeleChart's automatic fitting of a chart with the higest high and lowest low. I am a big FAN!
- Craig
Here to Help!
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Registered User
Joined: 11/21/2004
Posts: 15
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Posted this once but it got lost in the ether.. (problems here.. if multiple posts please delete excess ones)
Thanks very much bustermu... great solution! Very clever.. I spent ages trying to make my idea work and failing but this does pretty good.. not yet worked out how it works but it is very close to what I wanted.. thanks again! 
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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His solution is very clever and exploits how the charting module in the program works. For both price and the indicator, the program finds the highest high and lowest low (for the indicator with values of 1 and -1 they are all the high and low) and scales them both to the top and bottom of the screen. This puts your lines where the highest high and low are. You will need to mark them at some point with trendlines. Once a stock makes a new high or low the straight lines will follow the new high/low as the scaling will adjust.
- Craig
Here to Help!
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