# Converting a EOD system to intraday

Questions about MultiCharts and user contributed studies.
evanscje
Posts: 34
Joined: 11 Dec 2009
Location: Arizona

### Converting a EOD system to intraday

I want to use open next bar +- to enter and exit the market. That means I need to convert a normal daily bar chart and .... Is the easiest way to just stick with a daily chart and add a new data series = the 1 minute chart and substitute "open next bar" with opend(0) of data2 ??

Will that work?

TJ
Posts: 6869
Joined: 29 Aug 2006
Location: Global Citizen
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### Re: Converting a EOD system to intraday

evanscje wrote:I want to use open next bar +- to enter and exit the market. That means I need to convert a normal daily bar chart and .... Is the easiest way to just stick with a daily chart and add a new data series = the 1 minute chart and substitute "open next bar" with opend(0) of data2 ??

Will that work?

the process works in this order:
2. analyze data (current bar)
3. send order (next bar or next tick)

In this case, it is the bar that provides the opening price.

You can still use daily chart for trading...
just bear in mind that all calculations are done on the current bar.
For backtesting, you will need to use bar magnifier. (ie you will need a finer resolution second data series).

evanscje
Posts: 34
Joined: 11 Dec 2009
Location: Arizona

### Re: Converting a EOD system to intraday

so to be clear - will this work?
.. D1= daily data and D2 = 1 minute data
If close >Average(close,10) then Buy 1 contract next bar at opend(0) of data2+
.5*Avgtruerange(20) stop;

TJ
Posts: 6869
Joined: 29 Aug 2006
Location: Global Citizen
Has thanked: 984 times
Been thanked: 1976 times

### Re: Converting a EOD system to intraday

evanscje wrote:so to be clear - will this work?
.. D1= daily data and D2 = 1 minute data
If close >Average(close,10) then Buy 1 contract next bar at opend(0) of data2+
.5*Avgtruerange(20) stop;

no

TJ
Posts: 6869
Joined: 29 Aug 2006
Location: Global Citizen
Has thanked: 984 times
Been thanked: 1976 times

### Re: Converting a EOD system to intraday

evanscje wrote:so to be clear - will this work?
.. D1= daily data and D2 = 1 minute data
If close >Average(close,10) then Buy 1 contract next bar at opend(0) of data2+
.5*Avgtruerange(20) stop;

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