Scaling Superimposed Indicators in MCFX Basic

Questions about MCFX and MCFX Data Feed.
yosnappyj
Posts: 112
Joined: 14 Feb 2007

Scaling Superimposed Indicators in MCFX Basic

Postby yosnappyj » 17 Apr 2007

One of my favourite indicators is the Detrended Price Oscillator, which I use with its Bollinger bands and simple moving averages in different time scales to generate buy and sell signals.

The way I have this set up in MCFX Basic is to superimpose a Custom
3-line study on a Custom 2-line study in one subchart window:


Custom 3 Lines

DETREND(close,12)
BOLLINGERBAND(DETREND(CLOSE,12),23,2)
BOLLINGERBAND(DETREND(CLOSE,12),23,-2)


Custom 2 Lines

AVERAGE(DETREND(close,12),12)
AVERAGE(DETREND(close,12),23)


If I set the scaling to automatic (screen), each of the two studies calculates its own different vertical scale. So I use a common user-defined scale to ensure that both studies are drawn to the same scale.

The problem is that the Detrended Price Oscillator (unlike RSI) isn't bounded between fixed limits, so that when the market is volatile I need to continually reset the scale to keep the signal on the screen.

Is there a way to display these five lines in the same subchart on the same scale and have MCFX handle the scaling automatically?

yosnappyj
Posts: 112
Joined: 14 Feb 2007

Postby yosnappyj » 19 Apr 2007

In case it's of interest to other users, I've hit on a rather obvious solution for this particular case. As the moving averages are always inside the Bollinger bands, and automatic scaling depends on the extreme values of an indicator, setting up two 4-Line Custom studies as follows displays all five lines on the same scale:


Custom 4 Lines

DETREND(close,12)
BOLLINGERBAND(DETREND(CLOSE,12),23,2)
BOLLINGERBAND(DETREND(CLOSE,12),23,-2)
AVERAGE(DETREND(close,12),12)


Custom 4 Lines

DETREND(close,12)
BOLLINGERBAND(DETREND(CLOSE,12),23,2)
BOLLINGERBAND(DETREND(CLOSE,12),23,-2)
AVERAGE(DETREND(close,12),23)


I'd still be interested to hear if there's a neater method of achieving the same result.


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