Working with Studies

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Studies can be added, formatted, removed, and customized.

A study script can be accessed directly from the Scanner.

It is possible to change settings for multiple studies at once.

Indicated plots of a study can be hidden or displayed when necessary. Audio, visual and E-mail alerts can be enabled.

Adding Studies

  1. Open the Insert Study window.
    • Press the F7 button, or
    • Select Insert in the main menu and select Study, or
    • Right-click on any cell in the Scanner window and select Insert Study.
  2. Select either an individual study or multiple studies. To select multiple studies, hold down the CTRL button and select each study.

A study's color is defined in its PowerLanguage Script.

To edit the colors, use the reserved words SetPlotColor and SetPlotBGColor.

Formatting Studies

To format a study:

  • Double-click on the symbol's cell in the study's column, or
  • Right-click on the symbol's cell in the study's column. Select Format Study.

The Format Study dialog window will appear. If a study has two or more plots, then formatting will be applied to all the plots for that particular study.

Setting Inputs Values

An Input is a constant used in the study's calculations. Studies can have one or more inputs, or none at all. Each input is assigned a name.

There are three types of inputs: Numeric, True/False, and String. Studies can be modified by changing the input Values. Most, but not all, studies use input values.

Learn more about Default Studies Inputs.

One of the main advantages of using inputs is that the study's logic can be changed by simply changing the input values. Editing the study's code is not required. The inputs can be modified before and after the study has been inserted.

Setting the Symbol Properties

Study properties can be different for all symbols in the Scanner window. Study properties include Number Format and Update On Every Tick sections. To define the number of decimals to display for all the study plots of the specified symbol,

  • Select Same as Symbol radio button to use the same number of decimals as the symbol, or
  • Select Show radio button and enter the number of decimals.

To recalculate study on every tick, select the Update On Every Tick check box.

Note: Even with this check box checked, updates are still limited to two updates in one second.

Note: If the Use as Default check box is selected, then the current Properties settings will be used for every newly added symbol.

Enabling the Alerts

Visual, audio, or e-mail alerts can be sent when market conditions meet the criteria specified in the study.

To enable alerts,

  1. Select the Enable Alerts check box under the Alerts.
  2. In the Alert Conditions Check section, select whether the alerts will be triggered On Bar Close, Every Tick or Once per bar.

Audio Alert

To enable Audio alerts,

  1. Select the Audio Alert check box.
  2. Select the Beep radio button for a standard beep sound, or select the Sound radio button to play a custom sound. If Sound is selected, select the .wav sound file.
  3. Press the Test button to test the sound.
  4. Select Play Once to play selected sound once or Repeat to play it continuously.
Note: The computer must be equipped with a Sound Card to support the Audio Alert function.

Visual Alert

To enable Visual alert:

  1. Select the Visual Alert check box.
  2. In the Display Notify Window for drop-down list, select the period of time for the alert message to be displayed.

E-mail Alert

To enable E-mail alert:

  1. In the E-mail Alert section, select the E-mail Alert check box.
  2. Press the Settings button to access to the E-mail Alert settings window.
  3. Enter the email addresses of the sender.
  4. Enter the email address of the recipient. To send the email to multiple recipients, separate each email address with a semi-colon.
  5. Enter the SMTP Server Name or IP address, and Port number into the textboxes. Please get this information from your email provider.
  6. Check the SMTP Server authentication data checkbox if your SMTP server requires authentication to send emails. (Usually, if your email account requires a login and password, you need to check this box.)
  7. Enter the User name and Password. (This is usually your email login and password.)
  8. Press the Test button to send a test email.
    If the sending process has been successful a message will appear in the pop-up window:
    If the sending process has been unsuccessful a message will appear in the pop-up window:
  9. Press OK to close the E-mail Alert window.

Example of Email Alert Message
01.10.2008 17:48:50 (alert time and date)
Source: Bollinger Bands (study that triggered alert)
Symbol: ESZ8 (traded symbol name)
Resolution: 1 Tick Bar (resolution used)
Price: 1157,5000 (price value at the moment when defined conditions has been met)
Message: Price crossing over lower price band (Message carrying information about the study condition that has been met)

Note: To use these alert settings as the default for all new indicators, select Use as Default check box.

Displaying Studies with Two or More Plots

It is possible to hide/display plots of studies, in case a study has more than one plot. To hide/display plots of a study,

  1. Right-click on a cell in the study's column or on the study title.
  2. Select Show Plots.
  3. Select or deselect the plots to be displayed/hidden.

Formatting a Study for All Symbols

Formatting a Study for All Symbols makes it possible to modify settings for all symbols at the same time.

To format a Study for all symbols:

  1. Right-click anywhere within the Study's column, excluding the header.
  2. Select Format 'Study Title' Study for All Symbols. The Format Study window will appear.

The settings for all existing studies will be changed. However newly added symbols will not inherit these settings.

Learn more about Formatting Studies.

Settings a Study Style in the Real-Time Market Scanner

From MultiCharts 8.8 beta 1 it is possible to change the style of the studies applied to the Real-Time Market Scanner. Color, Alignment, plot format and number of decimals can be changed.

To change the style of the plots:

  1. Right-click anywhere within the Study's column, excluding the header,
  2. Select Format Study. The Format Study window will appear,
  3. Turn to the Style Tab.

Alignment types available:

  1. Right,
  2. Center,
  3. Left.

Format types available:

  1. Same as instrument,
  2. Number,
  3. Currency,
  4. Percentage,
  5. Date,
  6. Time,
  7. Text.

Removing Studies

To remove a study:

  1. Right-click on any cell within the Study's column, excluding the header.
  2. Select Remove 'Study Title' Study.

Accessing Scripts

To access a script from a Scanner window:

  1. Right-click on any cell within the Study's column, excluding the header.
  2. Select Open 'Study Title' Script. A PowerLanguage Editor window will appear.
  3. Customize the study script in the PowerLanguage Editor.

Learn more about Working with Studies in PowerLanguage Editor.