Line Chart/Graph Based on High or Low and not based on Closed Prices

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krisnara
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Line Chart/Graph Based on High or Low and not based on Closed Prices

Postby krisnara » 11 Feb 2023

I would really appreciate if this can be done in Multicharts.I want plot a chart style like the Line on Close but instead using closing prices, I want to
plot the line based on High and Low prices Ie.Plot the High if the bar is an UP Bar and plot the Low if the bar is a Down Bar. I will good to have the
line color and width options and also for reference plot the regular line chart based on closing prices.

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TJ
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Re: Line Chart/Graph Based on High or Low and not based on Closed Prices

Postby TJ » 11 Feb 2023

You need to draw a mock-up, with notes on the diagram highlighting the salient points you are looking for.

krisnara
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Re: Line Chart/Graph Based on High or Low and not based on Closed Prices

Postby krisnara » 11 Feb 2023

Thank you for the suggestion and for looking into this. I have attached some pictures from an other platform in which this has been accomplished.In the picture the Yellow line is the High/Low line and the green is the traditional line graph based on closing prices.
A Line chart takes just the closing price of every OHLC and plots the line graph. However,in this process the high/low of the bar is ignored.
I feel the High/low is more important than the close .Hence I would like to plot the High or the low of the OHLC bar in a manner similar to how the
Line graph looks.So the logic is to check 1)If the bar is a UP bar or Down 2)If it is an Upbar then capture and plot the high and if it is a DownBar then
capture and plot the low and keep going .The end result would be a High/Low wave Chart which looks a Line Chart. Optionally,it would be nice to plot
the traditional line graph just for reference.
Attachments
line-chart high low instead of close.jpg
(90.3 KiB) Not downloaded yet
High or low line with ohlc.jpg
(111.1 KiB) Not downloaded yet
high or low line with closing prices.jpg
(90.08 KiB) Not downloaded yet

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TJ
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Re: Line Chart/Graph Based on High or Low and not based on Closed Prices

Postby TJ » 11 Feb 2023

You need to write some notes on the diagram, with arrows, pointing out the features of the graph. You need to write down why such point is important. You need to explain how each point is constructed. You need to show the transitions between points: why this point is changed but not the others.
No one is going to go back and forth between the empty graph and your description and try to guess which is what. If you need help, you must do the first step to allow people to help you.

krisnara
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Re: Line Chart/Graph Based on High or Low and not based on Closed Prices

Postby krisnara » 14 Feb 2023

Thank you for the suggestion. To keep very simple, I am looking for only one line to be plotted continously.You were asking to explain how the
points are to be constructed. The logic for this is like this :Check if the Bar is a Down Bar or an Up Bar. If the Bar is an UPbar ,then plot the High of the bar. IF it is a DownBar ,plot the low of the Bar.If it is a level bar,dont do anything. The end result will be a single wavy line which will look like a Line Graph.


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