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Beta is Released, BidAskVol Template,New Markers, New Bar Marker, New DYO Conditions |
December 14 , 2005
16:33 @Ensign_HA: Welcome to our class today.....
16:33 @Ensign_HA: Earlier this week we released the version that for the previous 15 weeks had been in Beta testing status. I thank the several dozen users that assisted in the beta testing of the new features in the program. Please consult the What's New page on the Ensign web site for a lengthy listing of the changes to the program over the past 3 months.
16:33 @Ensign_HA: The primary changes are:
BETA Released
Implement IB as a refresh source for IB users.... still have the DTN source and can select which to use
Reworked the chart properties form to clean up properties that were scattered on other forms.
Chart properties can also manage the market hours being used by the chart which is easier than going to the Setup Symbol Properties form to make the edits.
16:33 @Ensign_HA: and there are are a host of selections added to the DYO lists.
16:33 @Ensign_HA: The 12-14 version can be downloaded now and it implements another 25 DYO selections and 7 new markers which we will utilize and illustrate in today's class.
New Template for plotting BidAskVol
16:34 @Ensign_HA: A clever template named BidAskVol can be downloaded and will be demonstrated in class as well.
16:34 @Ensign_HA: Lets begin with this template as an example of some 12-14 features.
16:35 @Ensign_HA: The template can be used on any chart, and will sum the volumes when trading is at the Bid, and keep a separate sum of the volume when trading is at the Ask. These two sums can be plotted to see which is getting the action. Let me show the DYO that implements this idea.
16:36 @Ensign_HA: The first line of the DYO is a test that is True only when the evaluation is on the current bar of the chart. This flag is used to prevent adding to our sums when the chart is recalculating across all bars when it is opened or resized. The current bar flag is used on Lines D and F so we known when to allow the summation lines to count tick volumes.
16:39 @Ensign_HA: Line B is a flag that is true for the first tick of a new bar and it is used by line C to erase our counter GVs.
16:39 @Ensign_HA: Line C reads the flag in [250] and will zero out the next 3 GVs, namely [251], [252], and [253] This resets our volume counters to zero at the start of each new bar.
16:40 @Ensign_HA: [251] will be the GV where we sum the volume for trades at the Bid.
16:40 @Ensign_HA: [252] will be the GV for tracking the volume at the Ask.
6:41 @Ensign_HA: [253] was planned on being the sum for volumes for trading between the bid and the ask, but it is RARELY ever anything but zero so I have abandoned tracking inside volume.
16:42 @Ensign_HA: Line E is the expression that Read the current sum from [251] and adds to it a look up value from the quote page which is the Volume at the Bid.... this look up tag is [^G]
16:42 @Ensign_HA: Now that is one of the new features for the DYO. The number field can look up quote record fields for the symbol of the chart that owns the DYO.
16:43 @Ensign_HA: the web page documentation for DYO-Properties has been updated to show a table of the available quote page fields that can be used in the Number field and in the Text message field.
www.ensignsoftware.com/help/dyo-prop.htm
16:44 @Ensign_HA: Scroll half way down this page to the documenation on the Message Text and see a table with the quote record values.
16:44 @Ensign_HA: The Tick Vol at Bid is the [^G] reference.
16:45 @Ensign_HA: The Tick Vol at Ask is the [^E] reference.
16:45 @Ensign_HA: Now back to our DYO design.
16:46 @Ensign_HA: Line G is the summation expression for the Ask Volume.. it reads current value from [252], adds TickVol at Ask, and resaves back in [252]. The logic for what volume value to return is part of the [^G] and [^E] look up, so it is being done inside of Ensign.
16:47 @Ensign_HA: The volume returned will be zero if the trade was not at the Bid or at the Ask that was being asked for. When trade is at the Bid, then the trade tick volume is returned as the Tick Vol at Bid. Now that we have the values in [251] and [252], all that is left to do is to plot them.
6:48 @Ensign_HA: We use the Plot Study Transfer in GV expression becuase these selections will retain the values that are given to them and know that when the chart recalculates, there are no current bar by bar values with which to recalculate. So prior calculations or entries are preserved rather than recalculate.
16:49 @Ensign_HA: Now I am pleased to introduce one of the new Markers on Line H, which is the Blue and Red histogram marker drawn from the bottom.
6:50 @Ensign_HA: There are 4 new TWO color histogram markers being introduced, one for a fill down from the top, one for a fill to mid-range, one for a fill up from the bottom, and one for a dual color spread.
16:50 @Ensign_HA: Here is the new cleverness of these dual color markers. The marker on Line H will use as its 2nd color the color on the next line, and it will use as the 2nd value to plot the values from the next line. So line H needs two colors and two data sets, and the two data sets and colors will be LIne H and Line I. The two colors in the example are Red and Green. The two data sets are the Line H values for Bid volume and Line I values for Ask Volume.
6:52 @Ensign_HA: The marker wil plot both simultaneously, using two colors, and do a fill on both. THe clever part of the dual histograms is it will keep the fill for the smaller value IN FRONT of the fill for the larger value. Thus the bigger value will not HIDE the smaller value. The front back arranement will switch automatically, which does give a cool visual effect as shown in the chart. Let me show an example again.
16:54 @Ensign_HA: In the 16:00 time area the Green fill is bigger and so the Red is plotting in front of the green so it is not hidden. Now look as the 1545 area to the left, green was plotting in front of the red, and then it switched to have the red in front of the green for a couple bars, and then it switch back to green on red at around 15:59\15:49
6:55 @Ensign_HA: This powerful new marker should find useful application when you have two similar data sets plotting in the same sub window as in the case for our Bid and Ask volumes. You are wanting to compare the two volumes to see which is the stonger.
16:56 @Ensign_HA: Now on the right hand side of the sub-window I show the volume values using the DYO Labels of [H] for the line H value..... I also used a little trick of putting with the label the ` character because this character modifies the number format to be an integer and then pops on the little degree symbol.
16:58 @Ensign_HA: True this is not a degree, but I like seeing an integer of 222 more than I am annoyed by having the degree character follow the 222. Without this trick, the number would be formated as 222.00 because the chart has a quote format with 2 decimals.
16:59 @Ensign_HA: Anyway, I am explaining what I have done because it might be of some use and purpose to a user who reads this class transcript.
16:59 @Ensign_HA: Any questions about the DYO for the BidAskVol ??
16:59 tt2: Can the plotted history on the chart be saved as part of a template, like the way drawing tools and notes currently are?
17:00 @Ensign_HA: No tt2, we do not have a way for a DYO to save or load data to any of its Lines
17:00 TOC: Howard, does the symbol need to be on any specific page in the Quote Table
17:00 @Ensign_HA: it expects the data to be calculated from other sources like chart bar data but in the case of this bid/ask volume, it is coming from a quote record which is a live update from now onward and has no history of what happened before.
OPTIMIZE SPEED must beUNCHECKED for BIDASKVOL TEMPLATE
17:00 christophe: Howard, will it keep the history collected since DYO applied please ? thx
17:01 @Ensign_HA: Yes christophe, it will keep the history of what is collected while the chart is open. That is how I got the chart example in my pictures.... I kept this chart open through the afternoon7:02 christophe: Does it need "Optimize Speed" unchecked?
17:02 @Ensign_HA: EXCELLENT Point chrisophe.... thanks for mentioning it.
17:02 @Ensign_HA: Yes, Optimize Speed MUST be unchecked for this chart so that it evaluated on EVERY TICK and not just when the price changes
17:03 @Ensign_HA: For most charts, the Optimize Speed can be employed, which is to skip updating studies when the tick price is unchanged from the prior tick.
17:03 @Ensign_HA: However, this chart works with volume, and needs to evaluate on every tick so it knows which counter is to get the trade tick volume.
17:03 tt2: Can you display a running avg of the bid/ask as a ratio for the entire day? or as long as the chart has been open oc
17:08 @Ensign_HA: yes tt2, you can add logic to calculate a ratio and plot it as well
17:04 @Ensign_HA: Let me illustrate adding an average to the plot.
17:08 @Ensign_HA: and average of Line H data is plotted in cyan by line J
17:09 tt2: thank you for the example. i'm dyo iliterate
17:10 @Ensign_HA: always a starting point, and these are good examples
Another Use of new markers
17:10 @Ensign_HA: now let me shift gears slightly to show another use of the new markers.
17:10 christophe: Illiterate question: Howard, what is the Bar Index please ? thx
17:11 @Ensign_HA: On this moving avergage form, note the use of the dual color spread marker. What this marker will do is fill the area between two study values with the 1st marker color (green] when the 1st data value is above the 2nd data value. When the 2nd data value is higher, the 2nd marker color from the 2nd average will be used [red]
17:12 @Ensign_HA: Now many of you were alreading doing this kind of thing with the black bow-tie marker
17:13 @Ensign_HA: this new marker is the same, except it will do a dual color as in this example.
17:13 @Ensign_HA: Look at the plot of the moving average on the top part of the chart.
17:13 @Ensign_HA: When 1st average is above the 2nd average the fill between them is green. When the 1st average crosses below the 2nd average the fill color changes to red. Many of you will make good use of this new dual color spread fill to get cool effects. I could have outlined the fill with the moving average lines being drawn.
17:15 @Buffy: Can this be used in alerts and properties window also or just dyo
17:15 @Ensign_HA: Let me show example with the MA lines drawn and the bars hidden. I have it implemented for the price class of studies, and the DYO.
17:20 @Ensign_HA: Another example of the fill area of the smaller being brought in front of the other fill on the dual color histogram fill marker.
17:20 tiger: where is it getting the green color from?
17:21 @Ensign_HA: from line A
Scale
17:10 TOC: H...you have the Scale set for Fixed Range...can a variable scale be used that resizes the window based on the data present?
17:21 @Ensign_HA: yes, TOC, you can change to use a scale of Data set or zero to Data set.
17:21 TOC: ty
New Bar Marker
17:23 @Ensign_HA: Now this chart has its bars hidden to illustrate a point. There is a new marker for use on the DYO that is a Bar marker. So it is in use on Line D to draw bars in the marker color, which is white in the example.
17:24 @Ensign_HA: This marker needs 4 sets of values in a specific order of High, Low, Open, Close and they must be on 4 adjacent DYO lines because the marker will read the Close from its line and the Open from the prior line, and the Low from the line ahead of the open and the High from the line ahead of the Low.
17:25 @Ensign_HA: So follow the example shown
17:25 @Ensign_HA: Now the selections do NOT have to be the bar values I used in the illustration. They High and Low could have been something like moving averages of highs and lows, etc. This is kind of the principle of the Average Bar template, and of the Heikin Ashi study but the marker give a quick way for you to convert your 4 data sets to the presentation style of a bar using the marker.
17:26 @Ensign_HA: Now we have two more markers of a candle, and a rocket that use the same 4 line format.
17:27 @Ensign_HA: Let me switch example to a candle.
17:28 @Ensign_HA: In the post you can see the new markers on the Marker drop down list.
17:28 @Ensign_HA: Below the black bow-tie (study fill), we have the new Bar marker, candle (cyan), Rocket candle (green) and the dual color histograms from the top, middle, bottom and spread.
17:30 @Ensign_HA: I imagine some of you will invent new candles that are based on study values, such as a Stochastic candle, etc. Who knows, something might just jump out at you when presented in a new style instead of the old study curve.
17:30 @Ensign_HA: I present the tools, and you all will invent the building. Or build it and show it off.
17:31 dblue2: Nice work H
17:31 @Ensign_HA: thx
17:31 @Buffy: very nice Howard
17:31 @Ensign_HA: Go read the DYO Property Form documentation which has been updated on the web site to list the new fields you can read via a reference to the quote fields in the Number field of the DYO
17:31 TOC: TY Howard
17:31 cyndc: ;-)
DYO Additions
17:32 @Ensign_HA: And in the few minutes I have remaining, let me show you a HUGE new section of the DYO in the Global Action section.
17:34 @Ensign_HA: In the Global Action, we have added over 20 more IF tests that will really be useful in efficiency.
7:34 @Ensign_HA: The format of these IF clauses is to have the expression as the first parameter, and then return a value from 2nd parameter when True, or a value from 3rd parameter when False.
17:35 @Ensign_HA: So the first example on the list in the picture is IF( Flag, 0, #) and it would be understood this way.
17:35 @Ensign_HA: The Flag is the content of the GV reference : if the GV is True, return a ZERO if the flag is False return the contents of the number field.
17:36 @Ensign_HA: Now a clever use of this type of line, and this one in particular, would be to zero out a variable when a condition is true.
17:36 @Ensign_HA: Flag is the condition. When Flag is true you return a Zero and that can be written to the Write GV reference....such as write to GV[10]. Otherwise, when the flag is FALSE return the value from the number and number could be [10] reference
17:37 @Ensign_HA: So that reads [10] and writes it right back to [10]. Thus [10] is unchanged when Flag is false.
17:38 @Ensign_HA: A math expression in ESPL for this action would be IF Flag then GV[10] := 0;
17:39 @Ensign_HA: But by using the contents of # as the value to return when False, the statement is more generalized than how I just demonstrated and could be used to return a bar value, a quote record value, another GV value, a number constant, etc.
17:39 @Ensign_HA: any I have to run right now
17:40 MidKnight: thx H - see ya lataer
17:40 @Buffy: thanks Howard great class
17:40 amg3: thx, Howard...amazing stuff, much to disgest
17:40 dblue2: Awesome.. thanks
17:40 christophe: thanks Howard!
17:40 TOC: TY Howard
17:41 christophe: good night everyone!