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Open Feature request MC-1552

Custom Bar Type (user written bars)

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23
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Description

Please refer to this forum post:
http://www.multicharts.com/discussion/viewtopic.php?f=1&t=45831&sid=cd69efc005fd1b833311bdd9c96a7afc
Would the MC team be willing to create a Custom Bar where we can write our own code to forumulate our own bars?
This would remove complaints of how MC creates their unique bar types and remove the responsibility from the MC developers. I think that this would put MC a huge step ahead of most other platforms. If one took the time to scan through Ninja forums, TS fourms, Sierra forums, and even our MC forums they'd notice that a large percentage of complaints are from unique bar types being unreliable. I believe that MC would bring in many more clients with this feature!

Steps to reproduce this issue
Under Format Instrument -> Settings, we have a drop down box that has Regular, Renko, Point and Figure, and so on. I'd like a Custom Bar type on that list. We will then be able to write our own bar calculations as we see fit and use the Custom Bar which would then allow us to cache the bars, apply strategies on them, and use indicators on them.
Comments (8)
#0
user-offline.png  MAtricks (MAtricks)
Dec 13, 2013 - 04:12

The Custom Bar would be able to apply a script from the Power Language Editor where we would write our custom bars.

#0
user-offline.png  PatrickSocal (PatrickSocal)
Dec 13, 2013 - 07:07

I think this could be done in a very user-friendly way, assuming there aren't dealbreakers in the MC architecture. The CustomBar PowerLanguage Script would only need to define the closing criterion for the bar.  It would need to reference the quotes/trades that arrive after the Open of the current (unclosed) bar, plus possibly the close of the last one. It could be implemented as a logical function that returns true when the closing criterion is met, false otherwise.
User could choose to formulate a closing criterion based on some combination of price, volume, and time.  To keep things fast/simple, maybe series functions could be disabled for CustomBar scripts, if that helps.
An Essential feature would be the ability to work with multiple underlying data intervals.  1M data tends to have longer history.  Tick data is more accurate.  The user should be able to apply the CustomBar to both...  a long backtest using CustomBars based on years of 1M data, and a detailed backtest based on the last few months of tick data.
A nice-to-have feature would be the ability to base the closing criterion on the bid/ask in addition to the trade, but this may not be easy for you guys to do for architecture reasons.
If you can do it, this would be a very welcome an useful feature!

#0
user-offline.png  trdrbl (trdrbl)
Jul 12, 2014 - 17:25

I vote for Custom Bars for .NET version. The problem with standard bars, the time intervals are determined for bars. In case if one wants to receive bars according to some algorithm, similar to Renko, it does not seem feasible.

#0
user-offline.png  Guest (Guest)
Apr 13, 2016 - 01:32

I hope that the consideration of this feature is going favorably.  This would be one of the most powerful features that could be added to MC.

#0
user-offline.png  ecarlino (ecarlino)
May 03, 2016 - 02:21

i have requested a similar feature - this idea is interesting (i.e. to be able to force a new bar in code based on ANY critieria)
my idea would be a new bar type that would include 3 text boxes to enter a
price range
volume threshold
max time
whenever ANY one of the 3 limits is reached, a new bar would be started.
while not quite as flexible as programming your own, it may be easier to implement for the MC programmers and easier for users to take advantage of and probably covers 80% of the flexability sought.

#1
user-offline.png  Alex MultiCharts (Alex MultiCharts)
Mar 17, 2017 - 23:27
The implementation of Custom Bars will be split into 2 steps:
1) Custom bars calculation (that is, Custom Resolutions).
2) Custom appearance of the bars.
The first step should be available since MultiCharts 11, while the second step is still being worked on, but should be implemented in MultiCharts 13.
#2
user-offline.png  Alex MultiCharts (Alex MultiCharts)
Aug 11, 2017 - 04:01
Please find the description of the implemented functionality here:
https://www.multicharts.com/trading-software/index.php/Custom_Resolutions
History
Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    MultiCharts 11.0 (RELEASED)
  • Status
    Partially Implemented
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (2)
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
  • Severity
    Normal
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