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Registered User
Joined: 2/26/2005
Posts: 15
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I am trying to put a 6 months moving average line in my volume window but I want to double it (line indicates the average 6 months volume times 2).
When I put the standard 6 months M/A it works fine, the line appears to be approximately level.
However when I try to add a custom indicator an use the formula
AVGV126 * 2 OR (AVGV126*2) or ((AVGV126)*2)
I get a line that is obviously in error. It has extreme highs and lows, unlike the almost level
M/A line.
I have tried to put both M/A's in the middle window and also put each in its own window.
The M/A times 2 is inaccurate in both windows.
Your assistance would be greatly appreciated.
Thanks,
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Administration
Joined: 9/30/2004
Posts: 9,187
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Your custom plot is on its own scale. That's why it looks so different than the moving average you plotted on volume. The high and low points on the Volume plot flatten out the moving average because they're on the same scale. But your custom AVGV126*2 doesn't plot on the same scale as volume.
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Registered User
Joined: 2/26/2005
Posts: 15
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Thanks for the prompt reply.
The line I have generated with the above procedure is not a 6 months ave. volume times
2. When examining the volume bars, either the standard M/A line or the line I have generated
is in error. Obviously it is my line that is incorrect.
I would like to move the moving average line (6 months volume) up to twice it's present height.
I want to build a reference line that shows very clearly when a volume bar exceeds twice
the past 6 months volume. This line should be more or less horizonal like the normal
M/A line. I just want to move the M/A line up to twice it's present height.
How do I accomplish this?
Thanks for your help.
Jim
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (jimmecom) The line I have generated with the above procedure is not a 6 months ave. volume times 2.
Yes it is. It just isn't being plotted on the same scale as Volume.
QUOTE (jimmecom) When examining the volume bars, either the standard M/A line or the line I have generated is in error. Obviously it is my line that is incorrect.
It is possible that they are actually different, but if one is "incorrect" (from a value and not a visual standpoint), it would probably be the standand Moving Average Line. The reason I say this is that the standard Moving Average Line is based on the Moving Average Bars as plotted. The plotted Moving Average can actually be different than the actual Volume if Truncate tops of Volume Bars on spikes greater than the average volume is checked under Tools | Chart Display Options.
Try this experiment if you need to prove it to yourself.
- Uncheck the Truncate tops of Volume Bars on spikes greater than the average volume option under Tools | Chart Display Options if it is currently checked.
- Plot Volume Bars in the Top Pane.
- Add 126-Period Simple Moving Average as a Child Indicator to Volume.
- Create a Custom Indicator in the Top Pane with AVGV126 as the Indicator Formula.
- Select the period key (.) on your keyboard twice to bring up the Pointer Mode Data Box.
- Compare the values of the Moving Average applied to Volume and the Custom Indicator. While they may not match exactly, they are going to be very close (I haven't found a case where rounding to four significant digits doesn't produce the same result).
QUOTE (jimmecom) I would like to move the moving average line (6 months volume) up to twice it's present height.
I do not know of a practical automated method of doing so using TeleChart. Custom Indicators are always plotted on their own scale. It is possible to do so using Blocks because you can select and adjust the Scales used by each Plot.
-Bruce
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