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Open Feature request MC-1711

better support and resistance tools and zones on multiple charts

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Description

The current tools in MC for drawing support and resistance are very limited; they basically invovle drawing a trend line or a horizontal line on every chart you are using. I believe most traders trade on multiple time frames and so have multiple charts of the same instrument open.

That means we have to draw the same lines on each chart (very tedious, especially when you have 3 or 4 charts of the same instrument) or draw them on one chart and constantly compare that chart to the others. 

Also, many traders (myself included) like to think of S/R levels as zones, not just lines at a specific price, and I know of no way to create a shaded S/R zone. Also, I don't know if it's possibly to create a Ichimoku cloud indicator (which basically shades the area between two lines) like you can on almost every other charting platform. 

So first, I think there should be a new drawing tool that lets you draw two lines and then shade the area between them. 

Second, there really needs to be someway to easily draw the same levels or zones on multiple charts. One idea would be to have an indicator that just reads a text file of numbers and then draws lindividual lines or zones based on the numbers in the file.

example lines from a text file:
 
ESU4
1912,dashed line, blue, "Hi of day"
1900-1902, zone, opacity=3, green
1890-1893, zone, opacity=5, style=diagonal lines, "High Volume Node"

So you could load the indicator on each chart and then specify the name of the file to read. Then you'd only have to update the file once when your levels change. 

Perhaps you could just build the functionality into MC directly by having a little editor that lets you type in values and settings for S/R lines for different instruments.

Steps to reproduce this issue

N/A

Comments (1)
#0
user-offline.png  mobelby (mobelby)
Sep 26, 2014 - 13:58

I ended up having to get assistance to create a line sending tool to achieve the ability to send lines to other charts using globalavariable. This only works with horizontal lines and can cause some CPU issues so it is not ideal.
I also agree with the idea of zones. My suggestion is to have an option or button on the existing horizontal line tool to extend it vertically (up or down) into a zone with user options to change the colour of the lines and the shading type and colour

History
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  • Type of issue
    Feature request
  • Category
    Usability
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