Different Realtime Datasources  [SOLVED]

Questions about MultiCharts and user contributed studies.
Guest

Different Realtime Datasources

Postby Guest » 01 Dec 2006

Hi Alex

I am not quite sure where to post this topic because I am using your
Beta Version but anyways.

Is there any way to merge the bid and the ask price and mabe also the trade price of one instrument into one "Quote stream" so that the charts especially the range Bar charts are going to be drawn by these 2 or 3 inputs.

I know that one can insert a chart into an existing chart. But this is not what I am looking for. What I would like to see is one datasource consising of the BID/ASK and mabe the TRADE price.

Many Thanks!

User avatar
Stanley Miller
Posts: 556
Joined: 26 Jul 2005
Has thanked: 3 times

Postby Stanley Miller » 01 Dec 2006

Would you like to send bid and ask prices as trades in a single stream? Could you please confirm? Which data source do you use?

Guest

Postby Guest » 01 Dec 2006

Yes Bid and Ask into a single stream. That is exactly what I am looking for.

I use Esignal and for a few Forex Markets I use the TWS (interactive).

Guest

Postby Guest » 01 Dec 2006

Just to make it precise:
You said: bid and ask prices as trades in a single stream

That is the exact formulation of what I would like to do!

User avatar
Stanley Miller
Posts: 556
Joined: 26 Jul 2005
Has thanked: 3 times

Postby Stanley Miller » 01 Dec 2006

Could you please explain us your final goals? Why you don't want to plot a bid chart and ask chart and then overlay them?

User avatar
Stanley Miller
Posts: 556
Joined: 26 Jul 2005
Has thanked: 3 times

Postby Stanley Miller » 01 Dec 2006

You can also create two subcharts with bid and ask data, and then create a custom indicator which displays a merged data on the third subchart.

Guest

Postby Guest » 01 Dec 2006

If I overlay 2 Point Range Bar charts they do not look "homogen"
They will create also Bars with 3 or 4 Points in it.
A 2 Point Range Bar will chart a new Bar the very moment the spread between the Bid and the ASK exceeds 2 Points.

In the "Overlay scenario" the single bid or the single ask has to exceed a move of 2 points to create a new bar.

That is why I thought you choosed the perfect explanation. bid and ask prices as trades in a single stream.

Also if you have markets with a huge bid and ask spread the overlay method will create a gap between both charts.

Guest

  [SOLVED]

Postby Guest » 01 Dec 2006

Can the Indicator be a bar chart or will it be a line chart?

Guest

Postby Guest » 01 Dec 2006

Also if you have markets with a huge bid and ask spread the overlay method will create a gap between both charts.

If the BID amd ASK are merged int one Stream there will be huge Bars between the Bid and ASK Price.........

Guest

Postby Guest » 01 Dec 2006

[quote]Also if you have markets with a huge bid and ask spread the overlay method will create a gap between both charts.

If the BID amd ASK are merged int one Stream there will be huge Bars between the Bid and ASK Price but no gaps. wich makes the chart better readeble.

User avatar
Stanley Miller
Posts: 556
Joined: 26 Jul 2005
Has thanked: 3 times

Postby Stanley Miller » 01 Dec 2006

Can the Indicator be a bar chart or will it be a line chart?


Yes, it can be a bar chart.

Guest

Postby Guest » 01 Dec 2006

besides the indicator is there any way to merge the BID and ASK into one Single stream?

I am used to this function on CQG. It creates theoretical Trades at the Bid and ask Levels.

The indicator will not be able to match the precision of the merged stream.
Especially on Rangebars.

Anyways if not this could be a feature for your next versions.

Thank you

User avatar
Stanley Miller
Posts: 556
Joined: 26 Jul 2005
Has thanked: 3 times

Postby Stanley Miller » 01 Dec 2006

Unfortunately there is no way to do it right now without custom study. We'll consider the possibility to add this option to the future versions.

denizen2
Posts: 125
Joined: 17 Jul 2005

Postby denizen2 » 02 Dec 2006

The desired 'feature' being discussed in this topic is something that I have also identified as being VERY desirable. Namely, the ability to create a 'synthetic symbol' (and data-stream) that can be accessed and used just the same as Data#1 and Data#2, etc., are currently used.

The obvious objective for the synthetic symbol is to define a price-data-stream that is half-way-between the Ask and Bid prices. This would make the price-charts and sub-graph indicators much more accurate, because now they are always 'offset' by the spread amount, one way or another. :cry:

Whenever any indicator is inserted in a plot-graph you can select any available Data# as a parameter to define which data-stream to use, but you can NOT choose to use more than one data-stream, nor can you use a calculated-function using two different data-streams. I believe that only in Strategy-code can the user include more than one data-stream, right?

I believe that such a feature would need to be somehow made available as a 'global' feature, i.e., not specific to a particular plot-chart. That means the synthetic-symbol becomes a global-var that can be inserted into any plot, just as we already do for the normal symbols.

The 'logical' extension of this 'idea' would be to provide a 'data-centric' database that could be written-to by the user, from any charted indicator, strategy, or function, AND then could ALSO be read back and 'used' the same as any 'local' vars. Better yet, would like to have something equivalent to 'name-space' control that allows user to specify whether any synthetic data-stream is 'visable' to all charts, in all workspaces, or just one chart, or one workspace, etc.

There is already an EasyLanguage-based 'extension' called "All Data Everywhere (ADE)" that was intended to give TS users multi-time-frame plots (a feature that is built-in already to MC :D ). The ADE add-on can be used to add the 'global vars' aspect to MC, BUT it is not very easy to learn and use AND it uses text-files as the 'database'.

A much better implementation of that idea might be possible if MC included user-created global and semi-global vars based on the high-speed database that is already used for the QuoteManager, right?

Perhaps there are other contributors to this forum that might like to express their opinions on how/why they would envision a data-centric facility be added to the existing chart-centric appraoch. :idea:

Guest

Postby Guest » 03 Dec 2006

It is a simlple matter of fact that there is no way that a Indicator can do this job. You cannot programm a indicator to do the job.
And you cannot simply combine two charts into one to do the job.

There is a reason why the above mentioned Datavendor CQG has implemented this function as a Menupoint.

the Dataseries that combines two streams and creates a tickchart out of it has to make a difference wich prices are coming in first . The one of the first or the second Dataseries. Out of this combined Dataseries true and realistic rangebarcharts,Tickcharts, Point and Figure Charts, Renko Charts Kagicharts can be created. Nothing similar can be created with any Indicator not to mention the impossibility to combine them into one chart with the insertfunction.

If you choose a 50 point RangeBar chart, the programm must count the outer edges fom the highest ask price (If the stream combines the Bid and Ask prices) and the Lowest Bidprice and create a new Bar if this spread exceeds 50 points!


Stanley has not fully understood what was asked for. Anyways
combining Dataseries into one stream should be a standard for high level charting programms.

Guest

Postby Guest » 03 Dec 2006

It is a simlple matter of fact that there is no way that a Indicator can do this job. You cannot programm a indicator to do the job.
And you cannot simply combine two charts into one to do the job.

There is a reason why the above mentioned Datavendor CQG has implemented this function as a Menupoint.

the Dataseries that combines two streams and creates a tickchart out of it has to make a difference wich prices are coming in first . The one of the first or the second Dataseries. Out of this combined Dataseries true and realistic rangebarcharts,Tickcharts, Point and Figure Charts, Renko Charts Kagicharts can be created. Nothing similar can be created with any Indicator not to mention the impossibility to combine them into one chart with the insertfunction.

If you choose a 50 point RangeBar chart, the programm must count the outer edges fom the highest ask price (If the stream combines the Bid and Ask prices) and the Lowest Bidprice and create a new Bar if this spread exceeds 50 points!



combining Dataseries into one stream should be a standard for high level charting programms.


Return to “MultiCharts”