Question: A customer asked, “How do I make OHLC bars with my indicator?”
Answer: This can be accomplished with real time data. Your indicator needs to track Open, High and Low values with intrabarpersist variables. It also needs to track when the bars of source data streams close. That way your indicator can determine when the opening tick occurs, and when to reset the high and low variables.
Here is an example EasyLanguage indicator, creating bars for (Up Volume – Down Volume) values:
{
DEMO
By: David O’Dell
[email protected]
!QCL Solutions
P.O. Box 2304
Palm City, FL 34990
347-746-1725
For intraday and tick bars only.
.iat MyRTHighLow
}
Input:
DataNum(1),
AvgLength(50),
NumDevs(1),
ShowBaseline_ok1(1),
Baseline(0);
Const: int BogusValue(9999999);
Variables:
MyValue(0), MyAvgValue(0), MyStDevValue(0),
vShowBaseline(ShowBaseline_ok1=1),
intrabarpersist Op(BogusValue),
intrabarpersist HH(0),
intrabarpersist LL(BogusValue),
intrabarpersist OnPriorBarClosed(True);
MyValue = UpTicks – DownTicks {example calculation};
MyAvgValue = Average(MyValue, AvgLength);
MyStDevValue = StandardDev(MyValue, AvgLength, 2);
if (GetAppInfo(aiRealTimeCalc) = 1) then
begin
if OnPriorBarClosed then
begin
Op = MyValue;
HH = MyValue;
LL = MyValue;
end
else
begin
HH = MaxList(MyValue, HH);
LL = MinList(MyValue, LL);
end;
if Op <> BogusValue then
Plot1(Op, “RTOpen”);
Plot2(HH, “RTHigh”);
Plot3(LL, “RTLow”);
end;
Plot4(MyValue, “RTClose”);
Plot5(MyAvgValue, “AvgClose”);
Plot6(MyAvgValue + NumDevs * MyStDevValue, “UpperBand”);
Plot7(MyAvgValue – NumDevs * MyStDevValue, “LowerBand”);
if ((GetAppInfo(aiApplicationType)=cChart) and vShowBaseline) then
Plot11(Baseline, “Baseline”);
OnPriorBarClosed = (BarStatus(DataNum) = 2);
Note that property settings for this indicator are important.
Regards,
David O’Dell
