Manipulating the Arc

Questions about MultiCharts and user contributed studies.
bowlesj3
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Manipulating the Arc

Postby bowlesj3 » 28 Jan 2010

Inside a prior post I mentioned that it would be handy to be able to clear the Arc off a chart but I had no use for placing them. I am using them to mark breaks on the charts (what has been broken and where it was broken - the 1/2 arc). It can be used to mark the location any type of break (I do not use straight lines by the way). It works great since it has that curved shape. It actually would not be that bad to have full control of both anchor points just like the trend line because I am starting to have my code more and more issue notices of a break. So the logical next step is to have it actually put the arc out there where the break took place just incase the popup goes away too quick. Right now there is only the show-me but it does not mark exactly where the prior bounce/barrier was and where the break has occured as well as the connection between them. I suppose if the break continued to the end of a wave point the 2nd end/anchor of the arc could be dragged until that wave tip ends.

Something for the future maybe.

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TJ
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Postby TJ » 28 Jan 2010

I have no ideas for additional drawing objects now...

but if the rectangle, triangle, oval, arc, etc can be keyword driven...
I can dream up a whole lot of indicators for them !

I will turn MultiCharts into psychedelic charts...

bowlesj3
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Postby bowlesj3 » 28 Jan 2010

What do you mean by "keyword driven" TJ?

For me my use of the arc is nothing more than a marker of a line break (basically a reminder just incase I might get busy and forget the break is there - kind of like the students using a highlighter when studying - fairly thick and red). It has nothing to do with Art. Purely practical.

As I find waves in the market and mark them creating projections, that EL code could put some of the arc on for me just incase I don't notice them. Yep, MC is a great assistant and new ideas for this keep coming it seems. However I will never entrust it to find the interlink of the waves for me nor make the FULL trigger decision.

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TJ
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Postby TJ » 28 Jan 2010

What do you mean by "keyword driven" TJ?....



keyword driven simply means the drawing object can be managed by a keywrod,
just like a trendline or an arrow.


example:

ARC_New (
sDate, sTime, sPriceValue, eDate, eTime, ePriceValue, mDate, mTime, mPriceValue)


where:
mPriceValue - a numerical expression specifying the ARC mid-point price value.

bowlesj3
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Postby bowlesj3 » 28 Jan 2010

Keyword is basically what I meant. Just like the Trend line commands since they have two anchor points.

The arc allows you to place the one end at the break and the other end at the subsequent wave tip and the curve keeps it from interfering with the plot of prices, etc. A line is not as good since it is straight and can get in the way. Each end of the arc acts as a pointer to exactly where the information is on the chart. It is perfectly suited for highlighting two related locations on the chart.

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Postby bowlesj3 » 29 Jan 2010

Now if there was a custom tool bar to store about 3 or 4 arcs by colour code then these (if detected on the chart) could serve as input into a study and at least partial criteria for a trade. In effect an interactive interface where the trader provides some of the input that MC's EL code is not all that suited to do (complex multi-wave-level analysis). However the trader needs to have a function to clear these arcs off the chart before searching for the next opportunity.

It would not matter if code put the arc out there or the trader decided that indeed a break had occured and the trader decides to put the arc out there manually since the EL code is not smart enough to figure out that market formation properly. Either way another section of code detects the arc.
So what you have is a partially or maybe even fully automated system with hooks for manual override (or insertion of trading criteria components).


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