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Price
Histogram Lines, Zero Volume Bars, New DYO options for Auto Trends
and chart type and TF, QnA, Showing Spread between two Symbols |
October 19 , 2005
16:30 @Ensign_HA: Welcome to the training class today.
16:30 @Ensign_HA: I will cover a couple items and then open it for questions and answers.
16:31 @Ensign_HA: I continue to make changes to the Beta version, and continue in Beta status for lack of any progress on the issue that for some IB users the program disconnects from the feed. However, for users with other data vendors, I do not know of any reason not to be using the Beta to have the improvements being added in the Beta, such as...
Additions to Price Histogram
16:32 @Ensign_HA: THis is an eample of a couple new option boxes on the Price Histogram property form.
16:33 @Ensign_HA: The new options are Extend POCs and Virgin POCs. The Extend POCs will draw a POC all the way to the right margin of the chart, and if the Maker is the $ it will label the price in the margin. The option for Virgin POCs, also does an extending, but will continue the POCs that have not been revisited by prices yet, thus still being virgin. Let me show the two options separately, and then together for yet a 3rd effect.
16:35 @Ensign_HA: Here is an example of just the Extend POCs option being enabled.
16:37 cc_k: nice
16:37 virt: great
16:37 @Ensign_HA: In this example of the Virgin POCs extended, note that the POC is extended rightward until it is visited by price and then it stops. So the POC from 10-14 runs rightward until it is visited by price on the 18th and the POC for today at 1178 will continue rightward until it is visited by price which might be tomorrow, or a week from now.
16:37 virt: Howard...does the new properties window allow for different "styles" for control point and range band?
16:39 @Ensign_HA: yes virt, the styles is still present as it was before, that did not change
16:39 virt: thanks
16:46 virt: what I meant, tho, is that in the old version...one cannot select different styles for control point and range band...using "price" formula...one defaults to the other...the style of the range band dominates/determines the style of the control point
16:47 @Ensign_HA: virt, it is the same in Beta
16:39 @Ensign_HA: I happen to have a thick line for the POC selected
16:47 virt: thanks...
16:39 scooter: that is awesome
16:39 @Ensign_HA: Now, when Extended and Virgin are BOTH selected, then you get the following effect.
16:40 @Ensign_HA: The Virgin POC continues to draw in THICK until it is touched by price, and then it will continue to be extended because Extended is checked, but will draw in a dotted line so you can see the difference between POCs that are virgin and those that are not.
16:41 cc_k: wow
16:41 virt: thanks
16:41 scooter: great
16:42 @Ensign_HA: This is the mode I kind of like because all the POCs are showing extended and the POC is drawn thick while it is still a virgin line. So the POC from the 14th drew as a virgin line until it was touched on the 18th, and thereafter it was drawn as a dotted line. Hopefully Enthios will have a article to publish in this month's Trading Tips newsletter in 2 weeks.
16:43 @Buffy: very very nice
16:44 @Ensign_HA: The other subtle changes to the Price Histogram are two fold - The number of bucket counters was increased, thus increasing the resolution being watched, or you can think of each bucket spanning a smaller portion of the chart scale.
16:43 scooter: is it possible to put the date of the virgin poc by the price so we can see from how long ago a poc is a virgin?
16:45 @Ensign_HA: scooter, enthios asked for the same thing and I do not have an easy way to do that, but may yet figure out how to give it to you.
16:45 scooter: okay thanks Howard, the older a poc gets the less chance of it being hit it seems ,that is why it would be nice. Thanks!
16:46 @Ensign_HA: The other subtle change was to show the range band and POC prices in the units the chart trades in. So in the examples you see nice ES prices for the $ labels
16:46 virt: that's great
16:47 scooter: that is good
16:47 @Ensign_HA: the POC extend line is the style set on the Range row
16:48 @Ensign_HA: In this property form, the line Style on the Control Point will be used in the histogram. The POC extended is using the Range Band style which for the example is the long dash line.
16:49 @Ensign_HA: so the virgins are now show using long dashes, and the non-virgins default to using dotted style
16:49 @Ensign_HA: OK, any questions about price histogram improvements?
16:49 virt: very nice
16:49 cc_k: great job
16:50 @Ensign_HA: In summary the improvements are
16:50 @Ensign_HA: 1) Extended option
16:50 @Ensign_HA: 2) Virgin option
16:50 @Ensign_HA: 3) more resolution, more buckets being watched
16:50 @Ensign_HA: 4) show $ labels in price units for the chart.
16:50 scooter: Howard can you put in the initial balance in the histogram? It is of great value
16:51 @Ensign_HA: where initial balance is the open price?
16:51 scooter: no initial balance is the range of the first 2 time periods ,ususally 60 minutes on a 30 minute bar histogram
16:52 @Ensign_HA: I have made a note for the initial balance request and will consider as time permits.
16:53 scooter: Thank you,it would also be great if we could access these initial balance numbers to do extensions off of them :)
16:53 @Buffy: what you have done already will be used by many
16:53 @Ensign_HA: thx
16:53 dblue: very nice
6:54 scooter: yes knowing these poc's is great
ZVB - Zero Volume Bars
16:54 @Ensign_HA: The next item worth mentioning is a change to the Zero Volume Bars such that ZVBs will be inserted after a chart is refreshed. Previously, the chart was to have had ZVBs already present by having been on-line to insert them from the live feed, but such is not always the case. So ZVBs will be inserted following a refresh in case one was off-line at the time. Inserting ZVBs is an option on the Setup | Charts form.
16:58 pw: thanks for the zvb update Howard, that will save alot of time and effort
17:01 @Ensign_HA: welcome pw
16:56 @Ensign_HA: yes, CW, the light gray is a percent of the range and is an adjustable parameter on the Price Histogram form.
16:56 CW: could have a moving average of upper bounds and lower bounds (value area) and trade retracements when price exceeds?
Added DYO selections for Auto Trend, chart type, and time frame
16:56 @Ensign_HA: Either last week or the week before there was a request for more selections for Auto Trends in the DYO and that was added that day.
16:57 @Ensign_HA: Also, in the same class was a request for the DYO to identify the chart type and chart time frame, and those were added as well.
16:59 @Ensign_HA: CW, you can try some of your ideas about price exceeding Range boundaries by using the DYO Study Value category as shown above because the control point, range high price, and range low price are exposed for your use. However, these may be static values for the chart and not bar by bar values but you can try to work with them and see what you can come up with.
16:59 CW: tks
QnA
17:01 @Ensign_HA: I guess I am ready to field your questions now.
17:02 pw: I have 2 questions when you have time
17:02 @Ensign_HA: ok, pw you go first - perhaps those with questions can change the color on their nickname on the nickname list and I will call on you. You do a color change on the nickname list by right mouse click over the nickname list, and select a color on the popup menu
17:03 @Buffy: thanks Howard
Increase Size of Alan's Box
17:02 pw: the first is regarding the limitation of bars going into an alan box, I think it is currently set at 500 bars. Is there any way to increase that size? I have been using longer timeframe boxes, specifically weekly, and it would be useful to look at a weekly box with 5min bars for example.
17:05 @Ensign_HA: ok I see the square width has a 500 limit and that is unnecessary and will be changed in Beta for next release
17:05 pw: thanks alot, I have one other item -
Disable Keyboard Hotkeys
17:06 pw: Is there any way to disable the hotkeys in our charts? I suffer from this daily, typing in echat and bang, I find I have scrambled a chart with typing
17:07 @Ensign_HA: go to Setup | Charts, Keyboard tab, and uncheck the Enable Keyboard for Charts option
17:07 pw: ok so I should have enable keyboard unchecked?
17:07 @Ensign_HA: yes
17:07 pw: thank you very much!!!
17:07 @Ensign_HA: welcome
Ideal Time for Price Histogram
17:07 @Ensign_HA: ok, TOC, your turn
17:08 TOC: @Ensign_HA, To your knowledge, has anyone done any studies to determine how closely the PH study mirrors Market Profile, and what settings are best to do that?
17:08 @Ensign_HA: Market Profile is typically for 30 min chart - our Price Histogram can be used on any chart time frame. I do not know of anyone doing comparison studies and our PH has more options such as to weight price by volume, or only consider the candle body part of the bar. So those obviously would be new creatures that differ from MP
17:09 TOC: so PH on a 30M should mirror Market Profile?
17:09 scooter: I watch it toc and the mp_0223 template is pretty close on a 30 minute chart of the ES
17:09 @Ensign_HA: thanks scooter
17:10 TOC: scooter, TY
17:10 @Ensign_HA: TOC I think the 70% for the range is pretty typical
17:11 TOC: @Ensign_HA, Thanks for all your hard work
17:09 Tricky: Howard can I ask Q, regarding this histogram ?
17:10 @Ensign_HA: yes, tricky
17:11 Tricky: tried to explain, in post Howard
17:11 Randy1: NOW THATS A DYMANIC HISTOGRAM....
17:11 dblue: chART
17:12 tt2: looks like a volume at price with decreasing weight as the days pass
http://www.paccharts.com/aboutpac.php
17:17 Randy1: Click S&C Link...
17:19 Randy1: now that is a true histogram ... not that complicated for our DYO's
17:19 @Ensign_HA: well let me watch a few Raymond reruns and balance it with other priorities
17:19 dblue: lol
17:19 @Buffy: :-)
17:19 Tricky: graphics would be less important, but concept is powerfull , IMO
Price Multiple quote.com
17:19 @Ensign_HA: ok CW your turn for a question
17:19 CW: I have futures price for JY coming in as .00xxxx, need to multply by 100 to chart, possible? qcom doesn't for some reason
17:20 @Ensign_HA: CW, most data feeds have JY quoted * 100. IB does not, so Ensign intercepts the JY price and multiplies by 100 to show as .9880 instead of 0.009880 as example. We do the *100 already and do so internally
17:21 @Ensign_HA: CW, is this a quote .com issue?
17:22 CW: issue? I don't konw, I have a multiplier for TS here thru Dyna store - I see on your chart setup a duvsion by some thing. Just thought that maybe a multiplier was available.
17:22 @Ensign_HA: which data feed do you use CW
17:22 CW: qcom
17:22 @Ensign_HA: is qcom the same as quote. com ?
17:23 CW: y
17:25 @Ensign_HA: ok, what is the symbol you have on the Setup | Manager list and I will investigate. Will put fix if needed in the Beta version for JY for the quote. com feed
17:26 CW: jy05T, it is globex
17:26 Randy1: have a good one.. and thx... for your efforts H... good luck on the beta running for IB users... back to 10-5 here.. later
17:26 @Ensign_HA: the multiplier thing you mention seeing is for the IB users to adjust DTN Market Access prices if needed to match the IB decimal placement. There options are on the Data tab form of the chart properties and the list has both divide by and multiply by selections
17:27 scooter: gotta run,Thanks Howard..great additions to the program!!!
17:27 @Ensign_HA: it is not an item for a data vendor such as qcom because the live feed and the refresh being from the same vendor, the price formats alway agree
17:28 @Ensign_HA: welcome scooter, and Randy - I am about done with class as well and I have a 4 pm appointment to make.
17:28 @Ensign_HA: CW, I will investigate that symbol with my qcom feed tomorrow and see how it is quoted and charted and I too prefer .xxxx format over 0.00xxxx format
17:29 CW: thank you, bye
17:29 @Ensign_HA: welcome
Two ways to Display Spread between two symbols
17:29 @Ensign_HA: Kongfuzi, your turn and kongfuzi will be the final question
17:30 Kongfuzi: yes may I ask a conceptual q
17:30 @Ensign_HA: yes
17:30 Kongfuzi: is it possible to calculate and plot the difference between two symbol values in real time? or plot a formula that makes use of one or more symbol values?
17:32 @Ensign_HA: yes kongfuzi - could of ways to do the spread. Let me show both
17:33 @Ensign_HA: 1st way is to use menu Setup | Custom Symbols and on this form you can enter your new symbol and the formula for it. The Symbol Type selection changes the form for the picked formula. The Spread is shown and you would enter two symbols and 2 multipliers if you want to weight them. This new symbol will update with each tick of either symbol and will show on the quote page and be chartable like any symbol on the data feed. What is not present, however, is an ability to refresh your custom symbol to get back history.
To do the back history and refresh thing, we have another approach using chart overlays. Say you have 5 minute charts going back a few month for both of your symbols you want to spread
17:35 @Ensign_HA: put up a 5-min chart of the 1st symbol. Overlay the 2nd symbol and select Spread on the overlay form.
17:36 @Ensign_HA: lets do a quick example of say ES #F 5-MIN spread with NQ #F 5-min
17:36 @Ensign_HA: 1 moment
17:39 @Ensign_HA: THis is the spread of ES - NQ for 5-min chart, and thus you have history. The spread can be entered on the charts panel as ES #F--NQ #F. Note the double minus sign between the two symbols
17:40 Kongfuzi: ok
17:40 @Ensign_HA: This will open ES as the host, put on the NQ overlay, spread them, and hide the ES host bars
17:41 Kongfuzi: showing only the spread
17:41 @Ensign_HA: correct, so only the spread is showing and a new feature in the Beta version related to spreading is the ability to show the spread in bar format, or candlestick format
17:41 @Ensign_HA: let me demonstrate
17:42 @Ensign_HA: ok, that about wraps it up for today.
17:42 Kongfuzi: thx so much
17:43 @Ensign_HA: thanks for attending and see you all again next week, or sooner via e-mail
17:43 @Ensign_HA: bye
17:43 Tricky: bye Howard, thx
17:44 @Buffy: thanks Howard