is it possible to program my own BAR TYPE ?

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ecarlino
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is it possible to program my own BAR TYPE ?

Postby ecarlino » 21 Jan 2016

many people use volume or range bars because with time based bars big moves show up as spikes and technical indicators tend to get out of phase with the action -

however, using range bars can miss when price action is 'fighting' at a price level where a lot of volume is going through - so you may only get 1 bar during that tug of war and not pick up on the fact that this is a significant price point.

depending on time of day, volume bars may only print one bar even though there is a big move, perhaps outside of RTH.

is there a way to create a new type of bar that would generate the next bar based ANY on 3 criteria being met: time elapsed, volume exceeded, price range exceeded ?

thank you.

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JoshM
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Re: is it possible to program my own BAR TYPE ?

Postby JoshM » 21 Jan 2016

is there a way to create a new type of bar
You can make a feature request for adding such a new bar type to MultiCharts, but programmatically creating your own bars isn't possible unfortunately. There's a request for that here however.

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TJ
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Re: is it possible to program my own BAR TYPE ?

Postby TJ » 21 Jan 2016

::

is there a way to create a new type of bar that would generate the next bar based ANY on 3 criteria being met: time elapsed, volume exceeded, price range exceeded ?

thank you.
The chart's bar interval has to be either "Time-based", or "Non-time-based".

On "Time-based" charts, the X-Axis will increment based on a pre-defined passage of time
(eg. sec, min, day, etc).

There are 2 types of "Non-Time-based" charts: Volume/tick-based, or price/range-based.

On "Volume/tick-based" charts, the X-Axis will increment based on a pre-defined passage of volume/ticks.

On "Range-based" charts, the X-Axis will increment based on a pre-defined range of price.

ecarlino
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Re: is it possible to program my own BAR TYPE ?

Postby ecarlino » 21 Jan 2016

i know the existing formats that are supported and apparently it is already a 'feature request' to allow custom bars to be programmed.

i have added a new feature request that the menus allow for a new type of bar that combines time, volume and range so that all 3 could be set and if any of the 3 thresholds are met, a new bar is triggered and all 3 counters are reset.

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TJ
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Re: is it possible to program my own BAR TYPE ?

Postby TJ » 21 Jan 2016

What you can do is to use one of the chart types as the base,
then piggyback your other logics on top of it.

There is an indicator called "Point & Figure Simulator". You can take a look and see how to it's done.

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MAtricks
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Re: is it possible to program my own BAR TYPE ?

Postby MAtricks » 26 Jan 2016

I put a thread together requesting something along these lines. Check it out:

viewtopic.php?f=1&t=45831

JoshM already posted my feature request.


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