Variable Range Bar PlotPB Indicator

Hello,

I would like to plot a paint bar indicator that has variable range bars. The paint bar will generate and build independent bars for each new bar. It is a newly formed indicator bar and not just painting of the instrument bar. The length of each range bar is user variable and corresponds to the H-L range chosen for each individual indicator bar.

A tick bar time frame is used, although the original instrument ticks are hidden or No Plotted.

Can independent Plot Bars be generated and displayed in an indicator?

Thanks,

Rick

Hello,

I would like to plot a paint bar indicator that has variable range bars. The paint bar will generate and build independent bars for each new bar. It is a newly formed indicator bar and not just painting of the instrument bar. The length of each range bar is user variable and corresponds to the H-L range chosen for each individual indicator bar.

A tick bar time frame is used, although the original instrument ticks are hidden or No Plotted.

Can independent Plot Bars be generated and displayed in an indicator?

Thanks,

Rick

can you draw a diagram(s) to illustrate your vision?

I'm not sure I can draw a diagram or if the idea lends itself to a diagram. I'll try to be a little more specific. Ordinarily, an EL instrument reference frame (can be any form of frame) that is chosen. This reference frame sets the bar interval for all subsequent indicators and signals. This bar frame cannot be varied.

The whole crux of this idea is to create a variable reference frame that is controllable with a variable input. This would involve building a reference from a lower fractal data source such as real time tick data. Any reference frame (including the initial reference) may be chosen and produced within an indicator or signal.

Ordinarily, indicators display points or lines. An indicator producing an OHLC bar would be the goal.

Richard

The whole crux of this idea is to create a variable reference frame that is controllable with a variable input.

In theory it's possible to make variable range bars depending on certain conditions (say after 50 tick a new bar, then after 125 tick, then 25 tick), but you'll still will have the problem that the x axis is fixed.

For example, if your chart is a 5 minute chart and your variable range bar indicator says it needs to plot 2 bars on that x axis point, how should that need to be done? There are probably more difficulties with this idea - that's why drawing a diagram/flowchart might be an helpful idea.

I'm not sure I can draw a diagram or if the idea lends itself to a diagram. ...
Richard

if you cannot draw a diagram, how do you suppose to create a chart of the same vision?

In theory it's possible to make variable range bars depending on certain conditions (say after 50 tick a new bar, then after 125 tick, then 25 tick), but you'll still will have the problem that the x axis is fixed.

For example, if your chart is a 5 minute chart and your variable range bar indicator says it needs to plot 2 bars on that x axis point, how should that need to be done?
______________________________________________________________________________

Thanks JoshM,

Josh the X axis is not fixed. The indicator varies the X axis reference frame for each individual bar. The indicator will never plot more than one X axis point for any individual bar.

Richard

In theory it's possible to make variable range bars depending on certain conditions (say after 50 tick a new bar, then after 125 tick, then 25 tick), but you'll still will have the problem that the x axis is fixed.

For example, if your chart is a 5 minute chart and your variable range bar indicator says it needs to plot 2 bars on that x axis point, how should that need to be done? ...
Richard

If you can imagine it,
if you can visualize it,
if you can quantify it,
if you can articulate it,
it can be coded.

If you can imagine it,
if you can visualize it,
if you can quantify it,
if you can articulate it,
it can be coded.

Thanks for the encouragement. I am at the coding stage now. I have coded an indicator with an OHLC array. The input is tick data. Next is plotting an OHLC data bar from the OHLC array. Anyone with thoughts about coding this last step?

Thanks,

Richard

Coding is progressing. Using an intrabar array indicator I am able to plot both the "synthetic" bar opening and close. By synthetic I mean there is no direct connection between the instrument plot and indicator plot.

I'm now coding intrabar highest high and lowest low for the synthetic bar.

Richard

Hello,

Here is what a "synthetic" OHLC bar looks like. The top panel is OHLC plot from the instrument itself. The second panel is a synthrtic OHLC plot from an array indicator. The plots are exactly alike.

Richard