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Ensign
Corners, Zebras, Rockets and Flutes, Marking Candle sticks, Study Degrees
(dependent and independent) QnA |
Feb 16 , 2005
16:31 @Ensign_H: Welcome to today's exciting class on the latest features in the Beta version of Ensign Windows.
16:32 @Ensign_H: the features demonstrated today have been added since the last class, so you will need to upgrade to the Beta version in order to do the things we demonstrate today.
16:33 @Ensign_H: Sorry, if some of the DYO selections have shifted a bit as we have added several new selections and at times it seems logical and important to group like items together.
16:33 @Ensign_H: To start with, the most exciting new features may be a possible 'hit' with candlestick users. Ensign (Howard) has invented four new candlestick types that can be used with any chart type. These new types are selected on the Setup | Charts form and on the private chart property form using the new dropdown box that replaces a bullet selection frame.
16:37 @Ensign_H: This is the list of chart types supported by Ensign. Possibly some of this new creative innovation will be adopted by the Industry and I hope credit is given to the creator of the innovation.
16:37 @Ensign_H: Let me define each of the chart types:
6:38 @Ensign_H: Bar: is the regular bar with a high/low range, close hash mark on the right side and an optional open hash mark on the left side.
16:38 @Ensign_H: Line: is a line connecting bar close prices, like a one period moving average of the close.
16:39 @Ensign_H: Close Ticks: shows just the close tick as a dash.
6:39 @Ensign_H: Candlesticks: this is the standard candle format with a frame, and a hollow body for an Up candle, and a solid body for a Down candle. Up candle is close>open and a Down candle is close < open.
6:41 @Ensign_H: Solid Candle: is the first variation of candlesticks and this will fill the up candle with a color instead of being solid. On the Setup | Charts | Candlesticks form one can select the up and down fill colors, and the color of the frame.
16:41 @Ensign_H: This is the mode many of you have been using for the candlesticks.
16:41 @Ensign_H: now for the new innovation....
16:42 @Ensign_H: the need for new innovation comes from the frequent request to be able to fill the candle body with any color, such as the Dunnigan bar coloring, or the Major Trends bar coloring.
16:42 @Ensign_H: in the past to do Color Bars with candles, we resorted to coloring the frame and retaining the hollow or solid format to indicate close/open relationship. The new innovation has found a new way to indicate close/open relationships so that the body can be filled with any color.
16:43 @Ensign_H: so for the first new style, we have named it Ensign Corners
6:44 @Ensign_H: The idea here is a blend of a bar and a candle body
16:45 @Ensign_H: the bar open and bar close are shown as markers in the body corners - hence, the format is named Ensign Corners.
16:45 @Ensign_H: the candle body can be filled with any color, and the example is using the Dunnigan color bars study
16:46 @Ensign_H: a variation of this format is to remove the open corner mark on the left side by unchecking the Show Open Hash check box option on the Setup | Charts property form.
16:47 @Ensign_H: This example shows the Corners format without the open hash mark. It is still the basic candle, but the corners show the open /close relationship so the candle body can be colored.
16:48 @Ensign_H: The next variation is called Ensign Zebras because the format looks like Z-bars or bars with Zs on them.
16:49 @Ensign_H: Again this is a basic candle, and the open/close relationship is shown by a diagonal line from the left side open to the right side close..... so in ascending bars/trends you have the / slashes and in descending bars/trends you have the \ slashes.
16:50 @Ensign_H: it kind of gives you the impression of an overlaid one period average that zig-zags up and down the bars.
16:50 @Ensign_H: The 3rd variation is called Ensign Rockets.
16:51 @Ensign_H: Here the open/close relationship is indicated by a different thickness of the tails and a different thickness of the edge that has the open price.
16:52 @Ensign_H: the thicker tail is on the open and the skinny tail is on the close.
16:52 @Ensign_H: together they look like a rocket that is thrusting in the direction of the open to close move. The thick tail is the thrust part of the rocket. The thin tail is the direction of the bar, or the nose of the rocket
16:53 @Ensign_H: look at the turning point top bar on the chart, it is a rocket thrusting downward.
6:54 @Ensign_H: 4th format is a bit more radical in its presentation.
16:54 @Ensign_H: it is called Ensign Flutes
6:55 @Ensign_H: In the Flute format, the rectangle marks the High/Low range, and the open and close are show with two hashes inside the rectangle.
6:56 @Ensign_H: this example has the Show Open Hash option unchecked, and now will repost with open hash shown.
16:57 @Ensign_H: Via these 4 new format choices, one can have the best of both worlds, the ability to show color bars vividly and still be able to know the open/close relationship.
16:57 @Ensign_H: So, please give them a try and see what talks to you.
16:58 @Ensign_H: You have the same candlesticks and solid up candles as before, but now you can investigate the 4 innovation.
16:58 amg: will there be keyboard shortcuts (like J, L or c & n)?
16:58 @Ensign_H: yes, color bars was the motivation to find a way to indicate open/close in the frame
16:59 @Ensign_H: The bars and candle keys will toggle between Bars format and the last candle format you used on this chart and the two buttons for Bars or Candles will do the same toggle from or to the last used candle format on this chart
17:00 @Ensign_H: Each chart can have its own chart type format, so you can have simultaneously every one of the formats in use in your workspace.
17:01 @Ensign_H: Whatever you want to use on Setup | Charts as the default will be the format used by new charts or adopted by the Reset button on the chart property form.
17:01 @Ensign_H: any questions about the innovations?
17:02 cherokeeruby: no you have provided all the stuff I have dreamed of, thanks
17:02 @Ensign_H: welcome
17:03 @Ensign_H: ok, I am sure some of you will jump on this new graphical presentation possibilities and have some excellent charts to show utilizing it all very soon.
17:03 @Ensign_H: to change the format for the current chart, press CTRL-P keys for the chart property form and select the Chart Type on this private property form.
17:03 packard: I think I like the flutes best. when I need to quickly know the low or high of previous bar. should help
17:04 @Ensign_H: also, on the Setup | Charts | Candlesticks form you can increase the weight of the frame line selection.
17:05 @Ensign_H: my examples all used a single pixel line for the frame.
17:05 @Ensign_H: let me post a couple examples with thicker frames
17:10 @Ensign_H: Solid up candle is now a selection option in the Chart Types list
17:07 @Ensign_H: ok, lets move on to other things some of you have been waiting for,.
17:07 @Ensign_H: I was working on this next material on Saturday when I has a house fire to put out and that was an unpleasant disruption.
17:12 @Ensign_H: in this example we have used the new Bar Flags in the DYO to identify some of the candle formations.
17:13 @Ensign_H: the Doji is when close = open..... and that is Line A which labels the bars with a D
17:14 @Ensign_H: Line B is marking a Hammer, which is a bar where both the Open and Close are above a percent level of the bar range... the percent level is the number field, and in this example is 67%. These formations are marked with an H.
17:15 @Ensign_H: The Gravestone is the inverse formation of the hammer, open and close are in the lower % of the bar range. Line C marks these with a G letter.
17:16 @Ensign_H: LInes D and E look for bars where open and close are at the ends of the bars, within 10% of the extremes. These bar types are called Marubozu candles. Open and Close are on opposite ends of the range.
17:17 @Ensign_H: Line F is marking a spinner, where the open and close are in the middle of the bar. The parameter example of 30 means both are above 30% from the low and below 30% from the high. - to me 'inner' implies the opposite of 'outer'
17:19 @Ensign_H: and then lines G, H, and I were just an example for someone who wanted to see increasing body size for a couple bars in a row, and this relationship is marked with the digit 2 above the 2nd candle.
17:20 @Ensign_H: NOW, with the new candle innovations from Ensign, you could Color the bodies using the color bar marker and a color for the marker instead of using letters for markers.
17:20 @Ensign_H: this will make for a great quick visual of the candle formations....give me a minute to post an example.
17:24 @Ensign_H: this example can serve as an illustration of doing the color bar color with alerts or DYOs
17:25 @Ensign_H: so the bar coloring will talk to you too and jump out on the chart example is using the Rockets format
17:25 @Ensign_H: ok, lets move on to the final subject for today, and that is study Degrees.
7:29 @Ensign_H: in this example I have used lines G,H and I to add the Degrees label to the study line.
17:30 @Ensign_H: Line G is getting the 34 EMA average which is plotted as a blue line by an EMA study on the chart.
17:30 @Ensign_H: Line H is getting the slope of the line which is the change in value of the line and putting it in GV[1]
17:31 @Ensign_H: then line I is reading GV[1] and converting this change in value to Degrees
17:31 @Ensign_H: the example shown is using a straight protractor angle to report degrees. This means the answer is subject to the range of the chart prices and the bar spacing - changing either will change the result, however it is still a nifty little piece of information. If we held a protractor to the screen the tail end of the blue study line would be found to be ascending at a 5 degree angle.
7:33 @Ensign_H: now we also have a more involved method of computing degrees that is independent of the chart's price range and bar spacing.
7:34 @Ensign_H: this more involved method makes use of the Pyrapoint technology we licensed from Don Hall, author of the Pyrapoint book. When you put a Pyrapoint tool on a chart, it draw beautiful diagonal lines that represent 45 degrees. These may or may not happen to be at a protractor's 45 degree reading, depending on the chart scale range and the bar spacing. Changing either can make the diagonal lines either steeper or flatter. However they still represent the definition for a Gann 1x1 line or (45 degrees).
17:36 @Ensign_H: the other selection for the DYO is to calculate degrees based on the Pyrapoint tool technology
17:36 @Ensign_H: if you had both the degrees reading for the study and Pyrapoint on the chart at the same time, and the study line was crawling parallel to the diagonal lines, the degree reading would be 45 or -45 degrees.
17:37 @Ensign_H: when the study line degrees is greater than 45 degrees, the line is approaching a diagonal or when degrees is less than 45 degrees, then it is moving sideways to the next diagonal.
17:38 @Ensign_H: give me a moment to configure an illustration.
17:41 @Ensign_H: spend some time with this example as it has lots to teach you.
17:41 @Ensign_H: Lines C and D do the clever color bands for the sub window
17:42 @Ensign_H: we are interested when the degrees line plotted in Blue by Line E is above or below thresholds of 30 degrees.
7:43 @Ensign_H: The labels on lines E, F and H have the [ ] notation to substitute a value from a line, and notice the apostrophe character following which will cause the degree circle to be printed in the label after the value.
17:43 @Ensign_H: this character is the one on the top left side of your keyboard, shares the same key as the tilde character.
17:45 @Ensign_H: The Pyrapoint tool is using 1.4062 Degrees for its frame computation, and so we use the same reference in the Line E number field to make the same association (calculations) as the Pyrapoint tool.
17:45 @Ensign_H: you can see that when the blue study line is crawling up the diagonal, the degrees plotted in blue in the sub window is at the 45 degree level.
17:46 @Ensign_H: now, some of you patronize Woodies room and methods and he has a Degrees parameter for his 34 EMA. I do not know what he is using to make such a calculation, but my gut feel is that he is reading the value form a Protractor held to the screen, and the first example will do that reading or calculation for you.
7:48 @Ensign_H: You can try these innovations from Ensign and compare them with what Woodies's values are and see if I have an implementation that mirrors his calculations.
17:48 @Ensign_H: If there is a 10 bar limit on chart with Woodie's involved, then just change the momentum parameter in my example on Line B to be 10 instead of 1
17:49 @Ensign_H: anyway, that covers the new innovations of the past week, and they are a bit more significant for the week than most weeks.
17:50 @Ensign_H: enjoy and let me know if you find something that needs to be polished off better.
17:50 LB: thanks Howard!
17:49 TOC: @Ensign_H, is 1.4062 a constant, or could there be an occasion to change that number?..if so, what to and when?
17:50 @Ensign_H: TOC, 1.4062 is a subdivision of 45 - 45 to 22.5 to 11.25 to 5.625 to 2.8125 to 1.40625
17:50 Sportsrep2: Good stuff Howard - packard: great Howard and thank you
17:51 amg: Howard, will using Color Bars conflict if we have colored bars using the spinner?
17:52 @Ensign_H: amg, most color bars studies will not conflict with color bars done by DYO or by alerts. If there is a conflict, I think we detect those and change the color bars selection to Normal to disable the conflict - if you are doing both, the color bars will happen first and then be overwritten or changed by the DYO color bars.
17:54 @Ensign_H: let me illustrate with Major Trends and the previous example, 1 moment.
17:55 @Ensign_H: see amg, here is the Major Trends color bars on the new Rockets, and then the DYO is overriding some of the bars for the Spinner or Hammer or Gravestone colorings which I should change to colors other than red and green so they do not blend in with the color bars used
17:52 amg: great, thank you, Howard
17:57 @Ensign_H: let me take a short break and then we can continue with general Q&A....brb
18:04 Sportsrep2: so Howard..........if we have "auto scale" on .....the Pyrapoint degrees study will be placed on the chart just as your example illustrates....right?
18:05 @Ensign_H: yes sportsrep, the degrees in the Pyrapoint example will remain the same degrees value with chart on autoscale and independent of any change in scale range or bar spacing
18:05 TOC: @Ensign_H, I am trying to incorporate a "bars since true" in a study...counting the bars since an alert flagged...having trouble following a previous posted example...any thoughts?
18:06 @Ensign_H: toc, show example form for the bars since true challenge
18:14 @Ensign_H: toc, the answer is the Bars Since True is ONLY a feature of the Alert Object.
18:15 TOC: ok
18:15 @Ensign_H: So you would have to put on an alert object even if it is just one that watches this DYO LIne E or Line D flag
18:15 @Ensign_H: then you will have the Bars Since True value to use with the alert.
18:15 @Ensign_H: do not have a Bars Since True feature for the DYO
18:15 TOC: ty
18:10 Joe_90: Red, H is there anyway to highlight the price focus (in the price scale) according to last uptic or downtic ??
18:10 Joe_90: Howard that's a Q for u
18:12 riney: Howard - 3 questions when you get a chance
18:14 riney: the spread rising & falling choice for MACD in alert, (2) is the section option still in place somewhere (3) can a global variable number be used multiple times?
18:28 @Ensign_H: riney: the spread rising & falling choice for MACD in alert, (2) is the section option still in place somewhere (3) can a global variable number be used multiple times?
:30 riney: I'm still using the 2/11 version
18:31 @Ensign_H: riney, for the MACD in todays version, the category in DYO or in Alerts is Study Flag and the selection will be Study Rising or Study Falling, or Ave Rising or Ave Falling, or Spread Rising or Spread Falling.
18:32 @Ensign_H: perhaps you were looking in the Study Value category instead of the Study Flag category.
18:33 @Ensign_H: it all depends on whether the number you park there needs to be preserved for use by some other chart
18:33 @Ensign_H: if not, treat the GV as a very temporary parking spot and reuse if not needed later on.
18:34 @Ensign_H: MACD is the Study
18:34 @Ensign_H: 2nd line is the Ave
18:34 @Ensign_H: MACD-AVE is Spread
18:35 @Ensign_H: Study is a generic name for the 1st line of the study
18:35 @Ensign_H: Ave for the average of the Study
18:35 @Ensign_H: and spread is Study-Ave
18:36 riney: ahhh - thanks a bunch
8:41 @Ensign_H: ok, next question
18:41 @Ensign_H: and then lets call it a day
18:45 amg: Howard, thanks for the new options and explanations. Have a great week.
18:11 flor: thx for the prior bar.I have an other questions. Is it possible to create a 3 price break signal with Bar Flag in "design your own"?
18:46 @Ensign_H: flor, the 3Pb that you put on the chart as a study can be referenced by the DYO for study value as show above. These values you can use for possible other things you want to try to do. I do not think DYO can implement the complexity of a 3pb from scratch. Our Ensign code for 3pb is pretty lengthy
18:48 swade: I also would like to see 3pb on charts expanded to bars - thank you
18:49 TOC: thanks Howard
18:56 @Ensign_H: yes they do toc, I checked HA before posting today's version - let me show HA bars toc
18:57 @Ensign_H: here is example with HA and chart using the Solid Candles type selection.
18:58 @Ensign_H: and now with the Type selection changed to Rockets and the HA is the yellow and cyan coloring in my examples
9:00 @Ensign_H: toc, what is the Color Bars selection, what is the Chart Types selection - have Color Bars be Close vs Open and the Chart Types be Solid Candles
19:01 @Ensign_H: here is HA by itself with bars hidden with the B key using Rockets format
19:01 @Ensign_H: well I have to go now.... thanks for attending class.
19:02 TOC: k...have a nice day...thanks Howard
19:02 @Ensign_H: will be around tomorrow to offer further help for things you cannot figure out yourself
19:02 @Buffy2: thanks for all the additions - enjoy the evening
19:02 @Ensign_H: welcome
19:05 @Ensign_H: ok gn, and thanks to all for attending and for using Ensign Windows
19:05 @Ensign_H: bye
19:05 @Buffy2: night - virt: thanks Howard - JSOB: night Howard
19:06 christophe: night Howard, thanks again!