daily, weekly, monthly bars

Can anyone update on these two PM's?

https://www.multicharts.com/pm/viewissu ... _no=MC-856
https://www.multicharts.com/pm/viewissu ... e_no=MC-79

For those that need to have, weekly and monthly charts from RTH period these features are a "must have".
Daily bars can be easily built using minute data (ES = 405min) but if this could be built in MC it would be much better and easier.

Can anyone update on these two PM's?
https://www.multicharts.com/pm/viewissu ... _no=MC-856
https://www.multicharts.com/pm/viewissu ... e_no=MC-79

Updated. Please duplicate the answers both to PM and here to let more users be involved in the discussion.

That would be possible only by building such custom daily bars out of minute data. It means the quantity of such daily bars would be significantly smaller than the quantity of server-side daily bars. If a date vendor doesn't support minute data, there is no solution in this case. The open questions:
1. Should the custom daily bars be saved to database?
2. Should it be a global setting for all data providers or for specific ones?

That would be possible only by building such custom daily bars out of minute data. It means the quantity of such daily bars would be significantly smaller than the quantity of server-side daily bars. If a date vendor doesn't support minute data, there is no solution in this case. The open questions:
1. Should the custom daily bars be saved to database?
2. Should it be a global setting for all data providers or for specific ones?

1. This would facilitate the loading period of the charts since all data would be already saved in the proper format, although you would need to have daily, weekly and monthly settings.

2. Isn't this something similar to what is happening with volume profile? Since we need tick data to build proper volume profiles, there will be data providers that will not be able to feed the profiles.
Is there any real time data provider that don't have minute data available?

Yes, the quantity of daily bars would be significantly smaller, but than again, it's a similar situation regarding to volume profile. If a data provider only offers 5 days of tick data, the user will only have 5 days of profiles, at least every time it needs to reload the data.
So the quantity of data available it's a non issue here.

Multicharts can only load the data available on the data providers servers. We can't ask you guys more than that.

The ideal would be building D/W/M bars based on our own session templates.



So if I select US Equity Futures - Globex, there would be on the resolution box an option for daily/ weekly and monthly minute based bars which would assume our session template.

For TY/ZN, a daily bar RTH based is a 400 min bar. This is the most used one.



ETH (globex) based is a 860 min bar, although we rarely use daily bars based on ETH alone. For this it's more useful looking at the 24h chart (ETH+RTH).



The problem is when we decide to look at weekly and monthly bars.
There's no way to build such bars.

Also, for volume profile this ends up being an issue since we can't build profiles using "true" daily bars. We are always forced to use tick (and in the near future, minute) data to build them so if MC has this built in would allow a much more accurate charts.

I like Arnie's proposed solution. I might suggest something like "Day (session time)" instead of "Day (minute)." Perhaps there's a better way to phrase it.

Currently, I create RTH "daily" bars for the ES. To do this, I add a minute bar with 405 minutes, and select the appropriate session ("CME Equity Index Futures: Open Outcry").

This proposed solution would simply be a shortcut for doing the same thing. I wouldn't have to do the math to know how many minutes are in a trading session, and it would adjust automatically if I change the trading session.

I don't see a need to store these in the database, since they are just based on minute data. Also, I don't see a need to customize these for different data vendors. It would just be like any other bar -- if the data vendor doesn't provide much historical data, then there isn't much to display. However, most data vendors provide more minute data than tick data, so this wouldn't be as limited as tick-based bars. (E.g., IQFeed provides minute data going back several years, but tick data only going back several months.)