Drawing/Plotting Multiple Horizontal Lines

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teamaster
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Drawing/Plotting Multiple Horizontal Lines

Postby teamaster » 01 Sep 2010

Hi all,

Just wondering if there is an indicator/drawing function that allows plotting of multiple horizontal lines on charts for cash sessions. I already have pivot indicators, but want more customised and configurable settings.

Essentially, i calculate my own support/resistance/pivot levels pre-session, then manually plot 10-20 lines on each chart in question, with lines grouped in pairs to mark a buy/sell zone. What i would like is a tool, like the Fibonacci Retracement Lines Drawing tool, where I can enter the price level, or upper and lower price, and then choose how the line plots (eg -style, weight, color).

Ideally i'd also like the ability to "shade" areas between these lines, but from my reading understand that this is not yet possible (except in the case of plotting thicker lines in the background with plotting bar hi lo's per Tams with Bollinger Band Shading,etc). Not as essential though.

If anyone could point me in the direction I need to look, it would be much appreciated. I haven't yet started with Easy Language formula, but am willing to learn. Does anyone know if the drawing tools such as the Fib Retracement tool is accessible and editable?

Thanks in advance,

Tman

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TJ
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Re: Drawing/Plotting Multiple Horizontal Lines

Postby TJ » 01 Sep 2010

... Does anyone know if the drawing tools such as the Fib Retracement tool is accessible and editable?

Thanks in advance,

Tman
drawing tools are not accessible by PowerLangugage.

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TJ
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Re: Drawing/Plotting Multiple Horizontal Lines

Postby TJ » 01 Sep 2010

there are 2 ways to make lines on the chart:

1. PLOT

2. TL_NEW


PLOT is easier to program,

TL_NEW is easier to make changes on the fly.

both can change color or thickness on the fly.

TL_NEW can change style on the fly.

TRENDLINE_NEW are always on top of the price bar.

PLOT can be layered on top, or underneath the price bar.

teamaster
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Re: Drawing/Plotting Multiple Horizontal Lines

Postby teamaster » 02 Sep 2010

Thanks for the quick response TJ, much appreciated, and from what i've seen on the MC forums, they're definitely indebted to your services.

I'll check out your suggestions and see what I can work out.

Cheers,

T

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Re: Drawing/Plotting Multiple Horizontal Lines

Postby TJ » 02 Sep 2010

Thanks for the quick response TJ, much appreciated, and from what i've seen on the MC forums, they're definitely indebted to your services.

I'll check out your suggestions and see what I can work out.

Cheers,

T
Thanks for the good words.

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Re: Drawing/Plotting Multiple Horizontal Lines

Postby TJ » 03 Sep 2010

you can take a look at this code for reference:

Half Gap
http://www.traderslaboratory.com/forums ... -7738.html

The first code uses the TL_NEW keyword.

the code in post #12 uses the PLOT keyword.

Image

48.25.14

teamaster
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Re: Drawing/Plotting Multiple Horizontal Lines

Postby teamaster » 03 Sep 2010

Thanks TJ,

Your help is appreciated yet again...

I managed to work out my first code (ever, as must be evident through my questions) using the Plot statement as you mentioned, so a point in the right direction definitely helped. I've basically got S/R lines plotted at levels I manually input, my next step is to enter one price on the indicator, and for it to plot an upside and downside (eg, the specified price is essentially the midpoint, but not shown...), using 5-6 pairs of plots on the upside and 5-6 pairs on the downside. I'm just trying to wrap my head around the point data reference, etc. and trying to base the upside and downside on the instruments tick/point level so it can be applied to futures and fx.

Then it'll be on to making another indicator that plots vertical lines per specified time, and adding text descriptions to this if possible. I know it can be done manually, but perhaps an indicator will save me some time in the long run. I'm still trying to work out the whole TL drawing and time integration. Nothing many hours reading won't fix though. I hope, hehe.

Thanks again,
T

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Re: Drawing/Plotting Multiple Horizontal Lines

Postby Nick » 10 Sep 2010

Just a couple of quick tips how to get round the lack of a shading function. The easiest way is to use the high low plot (selected by selecting bar high type for the top of the range and bar low type for the bottom range in the indicator style tab). You then set the bar width as wide as it will go so the bars merge into a pseudo 'range'. Secondly you can plot a rectangle rather than two horizontal lines. The first way is actually the easiest usually.


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