Can this be done in EasyLanguage?

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geizer
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Can this be done in EasyLanguage?

Postby geizer » 30 Jan 2009

Hello,

I would like to use a visual indication of the pre- and after-market trading hours on the charts in the form of vertical stripes of different background color.

Thinking to plot a rectangular during extended market hours.

Would be very grateful for the insight from experienced EasyLanguage programmers.

Thank you,
Pavel

miltonc4
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Postby miltonc4 » 30 Jan 2009

Hi Pavel and TS Support
Many of us have been asking for a long time now, for the addition of being able to color chart background,(?????),also based on inputs(Color background if price > MAvge etc,etc
Marina...any news on this great feature

Regards
Milton

bowlesj3
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Postby bowlesj3 » 30 Jan 2009

I guess the closest you can come at the moment is to have the EL code put out a vertical trend line a certain amount of time ahead of whatever you want to be notified of. I do that for the end of the trading day, 9:30 etc. I have the line vanish just as that minute arrives. Its fairly easy to do.

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geizer
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Postby geizer » 31 Jan 2009

bowlesj3,

Thank you for sharing your experience.

I am new to Easylanguage, but willing to learn along the way.
Do you think your method can be applied to rectangular drawn in place of vertical line? They are both drawing objects.
I will try what you're suggesting, this would be a good start.

Warm Regards,
Pavel

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geizer
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Postby geizer » 31 Jan 2009

Hi Pavel and TS Support
Many of us have been asking for a long time now, for the addition of being able to color chart background,(?????),also based on inputs(Color background if price > MAvge etc,etc
Marina...any news on this great feature

Regards
Milton
Similar festure is implemented by NexaTechnologies in their trading platform offered through many discount brokerages at no cost.

NEXA trading software have a button built into an interface of a chart window. The button allow you to collapse extended trading hours into a single line on each chart individually. This line maintains the color of the extended hours background color, when collapsed, so you still see the boundaries.

I miss this feature in MC to monitor the market sentiment before it opens. Once the market opens, you collapse the thing.

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Postby bowlesj3 » 01 Feb 2009

You would have to put out 4 trend lines to create the box.

I am very surprised you want to hide the overnight market (unless it is excessively thin - but even then no). The information from the formations at that time in my market is critical to the rest of the trading day many times. I would start taking losses (above and beyond normal human errors) if I did such a thing. My other symbol does not trade overnight and it gaps (often very large gaps un unexpected directions). You have to be very careful with it. It can surprise you. You end up loosing at least an hour in the morning because of this because you can't trust it. Having a very liquid overnight market is just great. I would never hide it.

Your idea is probably a wish to see the big picture. IMO this is a better way in that it accomplishes that but does not loose valuable info. Have all charts up and enough screen space to handle it. (10sec, 1min, 5min, 10min, 30min, 60min, daily, weekly is pushing it unless you are trading really large and long hold positions). Minimum two 20 inch monitors. I need to get a 27.5 on the right. If you watch it long enough (a few years) you start to notice more and more things and you would seriously miss it once you do become aware of these things. I guarantee it.

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Postby geizer » 01 Feb 2009

You made a good point,
I can't trust the opening if I did not follow the sentiment in pre-market precisely to get in sync with the market. And liquidity is the key.

You pointed it right - the main reason I hide extended hours is to get more screen space, which is never enough. When I trade earnings announcements, overnight formations are critical. For other strategies they are less important, and I try to get more out of my monitors by hiding the extended hours. With overnight holds my Risk/Reward is different - so I need a bigger picture, then turn the extended hours off.

I accustomed to have extended hours turned on/off with a click of a mouse. This is what I miss in MC. Now I will have them on all the time since there is no choice. But then I want to have them standout visually with different background color, since there is less volume there.

Now, I see the reason to have these vertical lines you use - because you have the overnight hours displayed all the time - it make sense.

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Postby bowlesj3 » 01 Feb 2009

Interesting strategy. Myne is purely technical. I trade bounce points. Often they occur in the 10 minute bars or higher and occur overnight. The repeat can be at 2pm in the afternoon. So for me there are days I just could not do without the overnight waves and bounces (in fact I have no reason to eliminate the overnight from my chart). For the SXF futures which does not trade overnight I use the same technique but I have to wait for confirmation. It can gap right past the bounces. It is a lot harder.

I use to trade stocks. At one time scaned 1,000s. When I started day trading I tracked 8 at a time and 2 futures. I could not scalp and keep up so bit by bit I eliminated all the stocks and went down to 1 futures only. I only added the other futures for curency reasons. I wish I could eliminate it. When you specialize as I do you get a really intimate knowledge of the patterns of your specific symbol and it generally leads to a much higher win loss ratio. In theory it should allow you to trade much larger size. I am not there yet but I am working toward that goal.


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