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Joined: 11/27/2007(UTC)
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Dear Forum,
I have been trying to create a formula to plot a momentum like line/indicator onto a real time candle chart and its scala. It there anything I can add to / change in the formula to make it plot with the correct scala.
{"Momentum - Close of Today minus Close of yesterday plotted on a real time chart."}
(CLOSE / Ref(CLOSE,1) - (CLOSE / Ref(CLOSE,-1)))
or
Sub(C,Ref(C,1)) / Ref(C,-1)
Comments on the above formulae plus suggestions are most welcome as I am still learning how to successfully creat formulas.
Thanks and best regards,
Magda
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Rank: Advanced Member
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Joined: 3/7/2005(UTC)
Posts: 1,346
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hey magda..... drag and drop your indicator onto the chart.... when the popup box comes up about scale, choose the option to overlay without scale..... that should allow your indicator to float on the chart.....h
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Rank: Member
Groups: Registered, Registered Users
Joined: 11/27/2007(UTC)
Posts: 15
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Hi There,
Thanks, I tried that already and it floats beautifully however.....
Questions:
* to which scala does the indicator conduct its calculations & plotting. Its own as per the info in its own inner window, or does it takes the values and scala of the main candle chart?
* Any comments on the 2 formulae?
Thanks for your kindness it is very much appreicated.
Best regards,
Magda
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 3/7/2005(UTC)
Posts: 1,346
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hey magda.... your indicator is using it's own scale but when overlayed without scale you just can't see it..... to see the scale, use the option display new scale on left.....
in reguards to your code,
{"Momentum - Close of Today minus Close of yesterday plotted on a real time chart."}
you might be able to code that,
c - ref(c,-1)
which is close - previous close ......h
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Rank: Member
Groups: Registered, Registered Users
Joined: 11/27/2007(UTC)
Posts: 15
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hayseed wrote:hey magda.... your indicator is using it's own scale but when overlayed without scale you just can't see it..... to see the scale, use the option display new scale on left.....
in reguards to your code,
{"Momentum - Close of Today minus Close of yesterday plotted on a real time chart."}
you might be able to code that,
c - ref(c,-1)
which is close - previous close ......h HI There, Thanks for your comments I take it on board as I am learning as I go along. Regards to the scale - does it mean that it is not possible to create an indicator that will plot inside the chart using its main scales. I think I understand from your comments that indicators can only be created in their own windows and scales? Thanks again for your patience and beat regards, Magda
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Rank: Advanced Member
Groups: Registered, Registered Users, Unverified Users
Joined: 9/13/2004(UTC)
Posts: 673
Location: Salt Lake City, UT
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The default price scale is on the right, so if you plot an indicator and choose "Merge with scale on right" they will both be tied to the same scale. However, for indicators with a value that is very different from the price, this is not recommended as it will really distort the scale. For these indicators, you should drag the indicator and drop it onto the title bar of the chart, which will create a new inner window specifically for this indicator.
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Rank: Member
Groups: Registered, Registered Users
Joined: 11/27/2007(UTC)
Posts: 15
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A big thanks to the both of you!! It is great to be able to find a place to pose questions and to find answers during a steep learning curve.
Best regards,
Magda
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