Using Studies: Difference between revisions
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making trading decisions. | making trading decisions. | ||
Over 270 pre-built, customizable studies, covering the most popular trading concepts and indicators, are already included with the | Over 270 pre-built, customizable studies, covering the most popular trading concepts and indicators, are already included with the platform, and additional studies can be imported from a variety of sources. Basic adjustments to studies' logic can be made by simply changing the '''Input Values'''. | ||
platform, and additional studies can be imported from a variety of sources. Basic adjustments to studies' logic can be made by | |||
simply changing the '''Input Values'''. | |||
Studies can be fully customized, or entirely new studies created, using PowerLanguage® scripting in '''PowerLanguage Editor'''. | Studies can be fully customized, or entirely new studies created, using PowerLanguage® scripting in '''PowerLanguage Editor'''. | ||
To learn more see [[ | To learn more see [[Using_Studies_(PowerLanguage_Editor)#Creating Indicators|Creating Studies]]. | ||
Studies can be divided into Indicators and Signals: | Studies can be divided into Indicators and Signals: | ||
* An '''Indicator''' is a visual technical analysis tool, used to analyze market conditions and identify and forecast | * An '''Indicator''' is a visual technical analysis tool, used to analyze market conditions and identify and forecast trends and market patterns. An indicator is a visualization of a mathematical formula, and consists of one or more '''Plots''' – lines, histograms, series of points or crosses, highs and lows, left and right ticks, or a combination of the above. Indicators are computed using only price, volume, and (occasionally) open interest data. | ||
trends and market patterns. An indicator is a visualization of a mathematical formula, and consists of one | * A '''Signal''' is a mechanical technical analysis tool, used to systematically specify market entry or exit points according to a set of trading rules implemented in the signal's algorithm. The trade points are indicated on a chart by ticks and arrows. Signals can be viewed as the basic building blocks of strategies. | ||
or more '''Plots''' – lines, histograms, series of points or crosses, highs and lows, left and right ticks, or a | |||
combination of the above. Indicators are computed using only price, volume, and (occasionally) open interest data. | An indicator is applied to a particular data series and can be displayed either in the same chart as the series or in another SubChart. A signal can only be applied to the series with the Data #1 and is displayed in the same chart as the series. | ||
* A '''Signal''' is a mechanical technical analysis tool, used to systematically specify market entry or exit points | If a parameter, such as symbol or resolution, of the data series on which the study is based, is changed, the study will be recalculated and redrawn. If the series, on which a study is based, is deleted, the study will be turned off. | ||
according to a set of trading rules implemented in the signal's algorithm. The trade points are indicated on a chart by ticks and arrows. | Studies can be '''Inserted''' (added) into, or '''Removed''' from a chart, and turned '''off''' and '''on'''. A list of all studies, inserted into a Chart Window, can be viewed according to type. Indicators can be '''Hidden''', '''Redisplayed''', and '''Moved''' between SubCharts. The '''Visual Order''' in which the indicators are displayed on the chart can be changed. | ||
Signals can be viewed as the basic building blocks of strategies. | |||
SubChart. A signal can only be applied to the series with the Data #1 and is displayed in the same chart as the series. | |||
If a parameter, such as symbol or resolution, of the data series on which the study is based, is changed, the study will | |||
be recalculated and redrawn. If the series, on which a study is based, is deleted, the study will be turned off. | |||
Studies can be '''Inserted''' (added) into, or '''Removed''' from a chart, and turned '''off''' and '''on'''. A list | |||
of all studies, inserted into a Chart Window, can be viewed according to type. Indicators can be '''Hidden''', | |||
'''Redisplayed''', and '''Moved''' between SubCharts. The '''Visual Order''' in which the indicators are displayed on | |||
the chart can be changed. | |||
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# Open the '''Insert Study''' window.<br><span>{{InsertStudy}}</span> | # Open the '''Insert Study''' window.<br><span>{{InsertStudy}}</span> | ||
# Select the tab corresponding to the type of study to be added. | # Select the tab corresponding to the type of study to be added. | ||
# Select a study from the list of available studies; the list can be sorted by any column, in ascending or descending order, by clicking on the column header; several studies can be selected at once by holding down '''Ctrl''' or/and '''Shift''' keys on the keyboard while making the selection. | # Select a study from the list of available studies; the list can be sorted by any column, in ascending or descending order, by clicking on the column header; several studies can be selected at once by holding down '''Ctrl''' or/and '''Shift''' keys on the keyboard while making the selection.<br><div style="background-color: #E3FBE5;">Note: Only the compiled (these with the '''Ready Status''' of '''Yes''') studies can be inserted. To learn more see [[Editing Study Scripts#Compiling Scripts|Compiling Studies]].</div> | ||
<br><div style="background-color: #E3FBE5;">Note: Only the compiled (these with the '''Ready Status''' of '''Yes''') studies can be inserted. To learn more see [[Compiling Studies]].</div> | |||
# To format the selected studies prior to inserting them into a chart, check the '''Format''' check box; uncheck the box to insert studies without formatting. To learn more see Default Studies Properties and Default Studies Inputs. | # To format the selected studies prior to inserting them into a chart, check the '''Format''' check box; uncheck the box to insert studies without formatting. To learn more see Default Studies Properties and Default Studies Inputs. | ||
# Double-click the selected study or click '''OK'''. | # Double-click the selected study or click '''OK'''. | ||
<br> | |||
== Removing Studies == | == Removing Studies == | ||
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Studies can also be removed by one of the following methods: | Studies can also be removed by one of the following methods: | ||
* Position the mouse pointer over the study that is to be removed; once the '''Pointer''' | * Position the mouse pointer over the study that is to be removed; once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]] , right-click and then click '''Remove Study'''; or: | ||
* Position the mouse pointer over the study that is to be removed; once the '''Pointer''' | * Position the mouse pointer over the study that is to be removed; once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]] , click on the study and then press the '''Delete''' key on the keyboard. | ||
<br> | <br> | ||
== Study Status Switch == | |||
Since MultiCharts 8.7 beta1 all the studies applied to the chart can be toggled on and off by a single click on [[Understanding Chart Window|their names]] in the status line. | |||
== Removing All Studies == | == Removing All Studies == | ||
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# Open the '''Format Objects''' window.<br><span>{{FormatObjectIS}}</span> | # Open the '''Format Objects''' window.<br><span>{{FormatObjectIS}}</span> | ||
# Select the '''Signals''' tab. | # Select the '''Signals''' tab. | ||
The columns display the following information: | The columns display the following information: | ||
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<br> | <br> | ||
== Moving Studies between SubCharts == | == Moving Studies between SubCharts == | ||
An indicator in one SubChart can be moved to another existing or a new SubChart within the same Chart Window. Each SubChart can contain a number of objects. To learn more see Using SubCharts. The | An indicator in one SubChart can be moved to another existing or a new SubChart within the same Chart Window. | ||
Each SubChart can contain a number of objects. To learn more see Using SubCharts. | |||
The indicator's Base Data # will not be affected by moving the indicator to another SubChart. | |||
A signal can only be applied to the SubChart containing the data series with the Data# 1, and can not be moved to another SubChart. | A signal can only be applied to the SubChart containing the data series with the Data# 1, and can not be moved to another SubChart. | ||
<br> | <br> | ||
== Moving Indicator to Existing SubChart == | == Moving Indicator to Existing SubChart == | ||
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# Position the mouse pointer over the over the indicator or the Status Line of the indicator to be moved; | # Position the mouse pointer over the over the indicator or the Status Line of the indicator to be moved; | ||
# Once the '''Pointer''' | # Once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]], hold the left mouse button and drag the indicator to another SubChart. | ||
a '''Hand''' | |||
# Release the mouse button to complete moving the indicator. | # Release the mouse button to complete moving the indicator. | ||
<br> | <br> | ||
== Moving Indicator to New SubChart == | == Moving Indicator to New SubChart == | ||
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# Open the '''Format Indicator''' window.<br><span>{{FormatIndicator}}</span> | # Open the '''Format Indicator''' window.<br><span>{{FormatIndicator}}</span> | ||
# Select the '''Properties''' tab. | # Select the '''Properties''' tab. | ||
# In the '''SubChart''' section, in the '''SubChart''' scrolling list box, select the '''Show On Top or Show On Bottom''' to move | # In the '''SubChart''' section, in the '''SubChart''' scrolling list box, select the '''Show On Top or Show On Bottom''' to move the indicator to a new SubChart at the top or at the bottom of the Chart Window, respectively. | ||
the indicator to a new SubChart at the top or at the bottom of the Chart Window, respectively. | |||
An indicator can also be moved by the following method: | An indicator can also be moved by the following method: | ||
# Position the mouse pointer over the indicator or the Status Line of the indicator to be moved; | # Position the mouse pointer over the indicator or the Status Line of the indicator to be moved; | ||
# Once the '''Pointer''' | # Once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]] , hold the left mouse button and drag the pointer to the upper or lower border of the Chart Window, or of another SubChart. | ||
a '''Hand''' | # Once the pointer changes into the '''Create New SubChart''' [[File:Subgraph_New.gif]] symbol, release the mouse button to create a new SubChart. | ||
the upper or lower border of the Chart Window, or of another SubChart. | |||
# Once the pointer changes into the '''Create New SubChart''' | |||
the mouse button to create a new SubChart. | |||
<br> | <br> | ||
== Hiding Indicators == | == Hiding Indicators == | ||
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An indicator can also be hidden by one of the following methods: | An indicator can also be hidden by one of the following methods: | ||
* Click the '''Hide Object''' [[File:Hide_Indicators_new.png]] icon on the '''Control''' toolbar; or: | |||
* Select '''Format''' in the main menu and click '''Hide Object'''. | |||
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# Select the study that you want to turn off or on, and click the '''Status''' button. | # Select the study that you want to turn off or on, and click the '''Status''' button. | ||
# The study's status, displayed in the '''Status''' column of the '''Format Objects''' window, will change. | # The study's status, displayed in the '''Status''' column of the '''Format Objects''' window, will change. | ||
== Recalculating All Studies in One Click == | |||
* For '''Indicators''' right-click on an empty area of the chart and then click '''Recalculate All Indicators'''. | |||
* For '''Signals''' right-click on an empty area of the chart and then click '''Recalculate Strategy'''. | |||
<br> | <br> | ||
== Changing Visual Order == | == Changing Visual Order == | ||
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* Right-click on the chart area and then click '''Visual Order'''; in the Visual Order window that appears, select an object and use the order buttons to change its visual order; or: | * Right-click on the chart area and then click '''Visual Order'''; in the Visual Order window that appears, select an object and use the order buttons to change its visual order; or: | ||
* Position the mouse pointer over an object; once the '''Pointer''' | * Position the mouse pointer over an object; once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]] , right-click, then point to '''Visual Order''' and use the shortcut menu order commands to change the visual order of the object. | ||
Visual Order commands/buttons: | Visual Order commands/buttons: | ||
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<br>'''Send Backward''' – the object will be moved one layer back | <br>'''Send Backward''' – the object will be moved one layer back | ||
<br> | <br> | ||
[[Category:Studies]] |