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Open Feature request MC-1496 » Open Feature request MC-1701

Point bars do not stay true to range if span a session close

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Description

This is essentially the feature request of the MC-1700 bug issue. It technically isn't a bug in the code but I am surprised the code functions as designed in this manner.

I heavily utilize point bars in my trading. Often I select ranges that are much smaller than the daily range, however, there are times when I need to expand the range. When the point resolution is expanded to a value that is greater than the daily range, the bar still prints at the session close, which Alex and Andrew confirmed is the correctly coded logic.

Ideally, if one were trading the user-offline.png  @YM , and had a point resolution of 100, all of the bars on the chart should equal the 100 point range, without regard to the session close. Currently, if the session price range is inside the 100 points, the bar will close with something less than the 100 point setting. I am requesting the logic be changed so the session close is not factored in and the bar will remain open, even across sessions, until the point resolution is met.

I am finding the smaller bars do not represent the reality of this chart type and my indicators get all screwed up as a result. I greatly appreciate a consideration to change the current logic for this bar type.

Steps to reproduce this issue

To reproduce this feature, select any chart and set the point resolution to a value of the average range. In this case, I selected the @YMU14 chart with a point resolution of 100. Many of the bars are 100 points, as expected, but there are also a significant number with values less than this.

Comments (2)
#0
user-offline.png  Brian Adler (brianadler)
Jul 28, 2014 - 18:26

I don't understand why point bars were designed this way. It is impossible to create high range point bars (larger than the range of one session) without bars existing that aren't actually point bars of the desired range. That means that MC only has an imperfect implementation of range bars. I would be much like to see this corrected.

#0
user-offline.png  Guest (Guest)
Jul 28, 2014 - 18:46

The current implementation of point bars makes them less useful to anyone swing trading with point bars and makes them therefore only useful for daytrading (lower ranges).

History
Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    MultiCharts 11.0 (RELEASED)
  • Status
    Released
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
    Critical
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