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"Highlight" and "Symbol" the Monthly High/Low Bars on the Daily chart.
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Hi,
I would like to build an Expert that can "Highlight" and "Symbol" the Monthly High/Low Bars on the Daily chart for each calendar month.
For example, the 8th and 15th bars are the HIGH and LOW bar in June 2009 respectively, so the 8th and the 15th bars will be highlighted and the word '8' and '15' will be marked above the bars respectively. This will be done for each calendar month on Daily chart. Is that possible??
PS: I am willing to pay a little fee for this expert.
Thank you!!
Raymond
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Rank: Advanced Member
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Hi Raymond,
MS cannot dynamically add text to a chart, so you'd need to have 31 expert symbol codes for the highs and another 31 expert symbol codes for the lows. If you also consider the possibility you could have the monthly high and low on the same bar you might want some way to differentiate these signals from the others, so you'd need another 31 expert codes, for a potential total of 93 expert symbol codes! This will be very slow on your system. You might reconsider the need to have the date shown on the chart or accept the use of highlights only might be sufficient for your needs?
How are you going to deal with the situation where the same monthly high/low value is made on several bars? Do you intend to just highlight the (hindsight) first instance? The (hindsight) last instance? Every instance?
If you just wanted the highlights, this is easy enough to do with hindsight codes, but you have to provide a lot more information about precisely what you want to achieve.
Hope this helps.
wabbit [:D]
P.S. Incidentally, your problem was the subject of the MS programming competition a few years ago. (Do a search through the forum) Although there were solutions offered and prizes awarded, most of the codes have some "unusual" behaviour at the extreme left hand side of the chart due to initialisation of the Zig() function and its inherent limitations. Like always, when confronted with a time-sapping exercise in MSFL, I just use the MDK to bypass these limitations and do the job faster and more easily.
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 5/27/2008(UTC)
Posts: 7
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Hi wabbit,
I have another idea, how about if we build TWO indicators/experts.
1. That will add '1', '2', '3', etc... to each bar for indicating the trading day number (on daily chart), this will be counted and reseted from the first trading day of each month. NOTE: I mean the day number, not the DATE, e.g. 3 July is the first trading day, it will mark '1' above the bar, not '3'.
2. This will highlight the Highest bar (considering the HIGH position) and the Lowest bar (considering the LOW position) of each month separately.
So when we attach these two indicator and expert to the chart, we can get the same result, namely I can see the HIGH and LOW was happening in which trading day of each month.
Do you think this is possible?
Thanks.
Raymond
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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Even if you have two experts, you can only have one expert attached to a chart at one time.
Showing the trading day of the month instead of the date will save some coding, but you'll still need 23 symbol codes for each high and low for the maximum trading days per calendar month i.e. 46 total. You can still use the expert highlight; using indicators for the day of the month is a better alternative, but I am not sure if the graphical display of this information is going to be that useful?
Also, you still need to address the issues identified in my earlier post, regarding multiple instances of high prices/low prices etc.
wabbit [:D]
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 5/27/2008(UTC)
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Hi,
>>regarding multiple instances of high prices/low prices etc.
One month only has one HIGH price and one LOW price, that means only one HIGH bar and one LOW bar for each month.
Can you help me to do this?
Thanks.
Raymond
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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What if the same high price of the month, say $1, was reached on the 1st, 5th and 20th trading days of the month? Which one do you highlight? The first? The last? Each instance?
wabbit [:D]
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 5/27/2008(UTC)
Posts: 7
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Oh, I see what you mean. Actually I am going to apply these expert/indicator to the index, so it is less chance to have the issue you mentioned. But in case it occurs, I want each one, if not possible, I want the first.
Thanks.
Raymond
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 5/27/2008(UTC)
Posts: 7
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Hi wabbit,
Can you help me?
Thanks.
Raymond
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"Highlight" and "Symbol" the Monthly High/Low Bars on the Daily chart.
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