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QnA #1530, TTM Trend #1512, TTM 2 HA #1520,RSI Trend, DYO (A and B) or (A and D) |
February 28 , 2007
16:33 Ensign Howard: Welcome to today's training class on designing studies with the DYO feature in Ensign. The theme for today's lesson will be that of Trend Indicators. I have a few to share with you.
16:36 Ensign Howard: One of the e-mail I helped a new user with was how to use the relationship of 2 moving averages to color bars. Perhaps he is using a faster and a slower moving average to indicate a trend.
http://www.ensignsupport.com/email/1530.mhtml
16:38 Ensign Howard: The Color Bars marker can be used directly on the Moving Average property form to accomplish this. This example shows having 2 moving averages, and the Study Mode selection on Above..Below.
16:39 Ensign Howard: When the 1st average is above the 2nd average, the 1st average line will be plotted using the Above row's color, line style and marker and marker color. The marker is the color bars selection and would color the bars a blue color.
16:40 Ensign Howard: When the 1st average is below the 2nd average, the Below row's settings are used, and the color bar marker would color the bars the plum color. So this example is a simple example of using 2 average to indicate a trend, and color the bars.
16:42 Ensign Howard: As stated in the Q&A article, there is the potential for conflict if you have a Color Bars study selected on the Color Bars panel, so on the Color Bars drop down list, one needs to deselect any Color Bar study by changing the selection to Normal.
16:42 Ensign Howard: Now the only thing coloring the bars is the color bar markers on this moving average study.
16:45 Ensign Howard: The average parameters I used in the example chart just posted are 15 and 30. This chart illustrates some of the challenges with using moving average cross over as a trend indicator..... and the problem is primarily one of lag. The bigger the average parameter, the slower the average line is to react to price action, i.e. increased lag.
16:47 Ensign Howard: This can be beneficial as in the avoidance of a whip saw that might have occurred just prior to 14:48 on the chart. However, an adverse characteristic then comes into play at how slow the averages are to cross after a turn, such as occurred at 15:10 and then in a non-trending period such as for most of the 28th, the averages are close to each other and they cross frequently.
16:47 Kongfuzi: Would be interesting if the bars were painted on the basis of slope
http://www.ensignsupport.com/email/1512.mhtml
16:50 Ensign Howard: kongfuzi, here is an example of using the slope of the moving average
16:51 Ensign Howard: So that is a good example from our Q&A Knowledgebase, and could have been found by searching the keyword Slope.
16:52 Ensign Howard: Lets move on to the 2nd example for today's class and that is to show a formula implemented in a DYO.
http://www.boogster.com/blog/?p=2830
16:53 Ensign Howard: The link I just posted will not auto show, but you can click on the link to view the page of interest in the viewer above.
16:54 Ensign Howard: I ran across this web page while researching the TTM Trend Indicator, and the purpose of showing the page is to show the formulas for the color bars being implemented in the medved program. So scroll down on the blog post to see the formulas in item #2. The formulas look lengthy, but they really are not that complex or hard to understand.
16:56 Ensign Howard: Basically, the midpoint of the current bar is being compared to the average of the midpoints of the prior 6 bars, and if the current bar midpoint is above this average the bars are colored Green, and when below the average, color them Red.
16:56 Ensign Howard: So, lets use a DYO in Ensign Windows to implement the same formulas and concept.
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16:57 Ensign Howard: This is the implementation of the formulas on the blog for the medved TTM Trend Indicator for color bars.
16:57 Ensign Howard: Line A is going to use the Bar Value category, and the selection for (H+L)/2 which is the bar's midpoint. Save this value in GV[1] for use later on in this DYO.... so the Write GV spinner has a 1 setting. I will discuss the color selections a little later... let's continue with the formula implementation.
16:59 Ensign Howard: Now we also want a moving average of the midpoints of 6 prior bars, and since we already have Line A as an array filled with the midpoint of every bar on the chart, we can use for Line B the category DYO Value and the selection of Ave Line A[#]. This line is going to perform an average function on another line in our DYO, which is this case is the Line A values.
17:00 Ensign Howard: The notation of [#] implies we are dealing with a set of values, and the set size is to be provided as the Number parameter, which in our case is the number 6. So 6 has been put in the Number field on line B.
17:01 Ensign Howard: Now the Bar Offset specifies a boundary of where to start. Normally the Offset is zero which would include the current bar and 5 bars ahead of it. We do not want to include the current bar in the average. We want the set to stop at the prior bar, so the Bar Offset value is set to a -1, so the set stops 1 bar ahead of the current bar.
17:03 Ensign Howard: This average of the 6 prior values from Line A is stored in GV[2]
17:03 Ensign Howard: So we have in GV[1] the current bar's midpoint, and in GV[2] the average we want to test against.
17:04 Ensign Howard: Line C performs a comparison test where Value references the GV in the Read GV position, and # is the value in the Number field which is the contents of GV[2].
17:05 Ensign Howard: So Line C is the test Bar Midpoint < Average( Bar Midpoints, 6)
17:05 Ensign Howard: Now we need to discuss the Color boxes on the 4 lines.
17:06 Ensign Howard: LINE A, C and D are working together by controlling what we call a Paint Can owned by this DYO.
17:06 Ensign Howard: Line A initialized the paint can color to the color Green. This is done by having the Show box checked, an absence of any marker being selected, and the color box on Line A set to Green.
17:07 Ensign Howard: Since no marker is selected, all that happens is that the paint can color is changed to be Green. Nothing is being drawn.
17:08 Ensign Howard: Line C is on a boolean test line and so the results of the boolean test will conditionally execute the Show operation of changing the paint can color to Red.
17:08 Ensign Howard: If Line C is True, meaning the bar midpoint is below the average, the paint can color changes to Red.
17:09 Ensign Howard: If Line C result is a False, then nothing happens to the Show line, the paint can color initialized to Green remains Green.
17:09 Ensign Howard: Now Line D always executes because the selection is Always True.
17:10 Ensign Howard: The purpose of this line is to have the Show marker of the Color Bar selection execute, and since the Color box selection is BLACK, the color of the paint can will be used instead.
17:10 Ensign Howard: If the Line D had been any color OTHER than black, then the color bars would have used that color. To use the paint can color which was set by Line A or Line C, the color BLACK must be selected.
17:11 Ensign Howard: So this illustrates control of the paint can. Color is set in the paint can by having Show checked and No Marker selected. The paint can color is used when BLACK is the marker color.
17:12 Ensign Howard: Now Line B was thrown in the middle of our work with the Paint can, and it serves two both educate and to draw a curve line. The curve will be the trigger threshold that is the test for the bar's midpoint to be above or below.
17:13 Ensign Howard: Line B color of BLUE does not affect the paint can contents because line B has a Marker selection of a curve line. The key here is the fact it has a marker selection.
17:13 Zygote: Is it drawn as a right shifted MA?
17:14 Ensign Howard: You can think of it that way. It is the value being tested plotted in the current bar position. So you can think of the original average being forward shifted one bar if you want to.
17:15 Ensign Howard: Here is a sample chart with this TTM Trend idea for bar coloring. The blue line is the average of the prior 6 midpoints. When the midpoint of the current bar is below the line, the candle color is Red. And when the midpoint is above the line, the candle color is Green.
17:15 Zygote: Just to clarify, as I am not very familiar with this (as you know from my questions), is line C essentially the general way to compare two GVs? (in this case GV1 and GV2)
17:16 Ensign Howard: yes, Line C was a pretty generic way to compare the contents to any 2 global variables.
17:17 Ensign Howard: Now, our DYO implementation does not look anything like the formulas written for Medved product, however, we can understand the formula and accomplish the same coloring using our 4 DYO lines.
17:17 cos: Heard this is a great job on TTM. Fantastic job.
17:18 Zygote: Lots of applications for other things as well
17:18 Ensign Howard: cos, stay tuned, as we have more TTM Trend stuff to cover
17:18 Ensign Howard: Now, let me continue with a 3rd example.
17:19 Ensign Howard: The reason why I was Googling the internet for the topic of TTM Trend Indicator was because one of my users asked me for some help with a very complex DYO they were trying to write. The DYO was for a TTM Trend Indicator, and the description of the concept does not match the simple formula shown above. So, possibly there are two concepts both called TTM Trend Indicator. Let me show the next TTM Indicator which is really complex, and I apologize that our DYO example and discussion is going to a higher plateau
17:21 Zygote: Using (H+L)/2 is only a small tweak when comparing two MAs (one is very short here)
17:21 Ensign Howard: You are absolutely correct Zygote, and that is one reason why I started the class with the 2 move average cross example. The 2nd example is just a sub-set of the first. But we are also giving some DYO training while we are on the topic of Trend Indicators.
http://www.ensignsupport.com/email/1520.mhtml
17:23 Ensign Howard: This next DYO, also called TTM Trend Indicator is completely different theory, and is considerably more complex, so bear with me and we will make it through the discussion.
17:24 Ensign Howard: As stated in the Question of the Q&A article, this TTM Indicator uses Heikin-Ashi candle bodies, and checks to see if the current candle body happens to be inside of the candle body of any of the prior 6 candles. If so, the current candle body adopts the candle body color of the earlier candle. The candle bodies initially are colored based on the HA-Open versus HA-Close relationship.
17:26 Ensign Howard: An up candle would be colored Green and a down Candle would be colored Red. But this normal coloring is to be overwritten if the candle's body is inside a prior candle body.
17:27 Ensign Howard: The chart shows the results of the DYO as the red/green color band at the top of the chart. The DYO is not doing a color bar change, but rather showing the Trend via the color Band. This is nice, in that is lets us compare where the color bar coloring differs from the Trend bar colors.
17:28 Ensign Howard: Now lets look for a couple examples of the trend effect and think through the logic
1.7:29 Ensign Howard: Lets look at the Big down bar for the swing low at 13:35 on the chart. On the regular chart on the top this is a big red down candle, and the TTM Trend color at that point is also Red.
17:30 Ensign Howard: Now look at the next bar from this swing low, on the regular chart it is an Up candle, and is colored Green but the TTM Trend is showing Red,
17:31 Ensign Howard: This is because the TTM is looking that the HA-Open to HA-Close relationship and this is still a Down Candle on the HA bars which is shown in the bottom panel.
17:31 Ensign Howard: The candle style is the Ensign Rockets, and you have to look at the Open which is the thicker part of the candle frame on the top, and the Close is the thin frame on the bottom.
17:32 Ensign Howard: So this is a DOWN candle in the HA bars, and the TTM is correctly colored as Red. It is easy to see on the HA candle that this candle body is not inside of any of the prior candle bodies.
7:33 Ensign Howard: Now go to the bar following these two swing low bars.... this would be the 13:45 bar. On the regular chart this is a spinner bar. On the HA chart, this is a narrow range body, and when compared to its left side 6 neighbors, it is inside the candle body of its immediate neighbor to the left. So, in spite of this candle being an Up candle, the TTM logic says this candle is to adopt the color of its neighbor, which was a Red color. So the red color continues on the TTM color bar.
17:35 Ensign Howard: Same logic applies for the next 3 HA bars, who all have narrow range bodies, and they all fall inside the candle body of a left side neighbor who is already a Red color. So the TTM trend color continues Red through this sideways period on the HA candles and the few green up candles on the Regular chart.
17:38 Ensign Howard: Now that we have done a word walk through of the TTM logic about inside bodies, lets discuss the DYO implementation.
17:39 Ensign Howard: The DYO needs to process the HA Open and the HA Close values, so these are being passed in GVs 1 and 2 via the Heikin-Ashi property form. The article shows these GV settings.
17:40 Ensign Howard: Line A of the DYO reads the HA Close in [1] and compares it to the HA open in [2] The True False relationship indicates an Up or a Down candle, and Line A will be our control array for doing the TTM band color. We will modify the T/F flags in the Line A array as needed to indicate the inside candle bodies adopting a prior bars' color (ie T/F flag).
17:42 Ensign Howard: Line B is the number 6 which is our look back distance, this needs to be saved in GV[1] for use by a powerful statement on Line C.
17:43 Ensign Howard: Line C is a specialized statement for the HA study that will return the Index position of a prior bar when it covers the current bar's body, and the look back distance is obtained from GV[1]. So internally in Ensign, behind the scene, this one statement is doing a loop through 6 prior bars to see if the current candle body is inside any of the candle bodies in the loop. Lots of things are being done by Ensign in order to return one value, which is the bar index of the covering candle.
17:45 Ensign Howard: If none of the prior candle bodies cover the current body, then a value of Zero is being return. That zero or non-zero value is our clue to whether the body is inside a prior body.
17:46 Ensign Howard: Line D will skip some other DYO lines when the value returned by Line C and saved in GV 3 is a zero. This Line D test says to jump execution down to Line G if the value in [3] is equal to Number 0, ie, the current candle body is not inside a prior body. However, when the current body is inside a prior body, we need to execute Line E and F.
17:47 Ensign Howard: Line E will calculate the distance between the current bar's position in the chart, or index, and the index returned by Line C. If the two bars are neighbors, the distance in the subtraction would be a value of 1. This distance is saved in GV 4 and will be used as the Bar Offset distance for Line G
17:49 Ensign Howard: Line F is going to move this distance value from 4 into the Bar Offset parameter of Line G and put it there as a negative number. So if the separation was 1, Line G Bar Offset is being changed by Line F to be a -1. This is a complex trick or manipulation I am doing here in the DYO
17:51 Ensign Howard: Now Line G has been primed to read either the current bar's Line A flag, or some prior bar's Line A flag via the offset being the initial zero value or the changed value form Line F.
17:51 Ensign Howard: The Flag from line A is read and put in GV 5
17:51 Ensign Howard: and Line H now takes the flag in GV 5 and puts it into Line A array in the current bar position.
17:52 Ensign Howard: If the body is not covered, Line G and H just read and write the same flag value from line A for the current bar. However, if the body is covered, some prior bar's flag was read and is now being written to the current bar's position as an override
17:53 Ensign Howard: Finally, the flag controls whether the green color is used (ie it is a True) by Line I. Or if the flag is a False, Line J uses the red color for the band marker.
17:53 Ensign Howard: If you want to color the chart bars instead of put on a color band, you would change the markers on lines I and J to be the color bar marker AND you would have to change the Color Bar selection to Normal on the Color Bar drop down list so that it does not compete with bar coloring being done by this DYO.
17:55 Ensign Howard: To help avoid typing entry mistakes, this complex DYO is available for download as a template from our web site through internet services in Ensign.
17:56 mikey in NH: How would an audio alert be triggered to signal a trend change?
17:56 Ensign Howard: Mikey, you could add a Study Alert to the chart following this DYO and you would have Panel A reference DYO Line A with bar offset 0 and panel B reference the DYO Line I with bar offset -1 selection would be Line I Goes True
17:59 Ensign Howard: Panel B can do the same reference with Bar Offset 0 and the selection Line A goes False and the condition would be A OR B. That would indicate that the trend changed from either green to red or red to green.
18:03 Ensign Howard: Shows the change it makes on the chart.
18:02 Ensign Howard: Shows the color bar markers as suggested
18:02 Ensign Howard: The last image shows I have changed the Color Bars selection to Normal so it does not conflict with bar coloring done by the DYO
18:03 Rice: Not having any luck finding the template on the site or Internet Services dropdown.
18:04 Ensign Howard: Rice, you click Internet Services button, wait for the download form to fill in the dates. Then you find the template on the Q&A Template list
18:07 Ensign Howard: HA should be on the chart and before the DYO in the chart objects list and its properties set like this.
18:10 mikey in nh: The template displays two panels, both with candles, and there is the TTM Trend bar along the top. As far as interpretation, how does correlate the two panels into a buy/sell signal?
18:16 Ensign Howard: Ok, time is running out and I have another example to cover.
18:17 Zygote: Isn't there a big risk of clashes between charts, using low numbered GVs? I always use the local "GV"s unless there is a reason to share data between charts.
18:17 mikey in nh: Thank you Howard. I'm a new user and I really like Ensign. Looking forward to getting to know it and the user community.
18:17 Ensign Howard: Feature was added a couple days ago, so Feb 26th should work as well
18:17 Zygote: In fact I find chart specific GVs much more often useful. It is a shame there are so many true GVs and not so many local ones.
18:18 Ensign Howard: zycote, your statement is your opinion and not a fact in my opinion
18:18 Ensign Howard: Local GVs have no bearing on being a risk for clashes between charts. It is improper use of the GVs that is the clash
18:18 Zygote: Well, if you use the same DYO on two charts, what happens? I thought GVs were genuinely global variables, that could pass from chart to chart?
18:19 Ensign Howard: Any GV that is written before it is needed can be a global GV and every GV used in today's examples do just that. Nothing in our examples today prevent the DYOs from executing correctly on multiple charts running simultaneously
18:19 Zygote: OK, so as long as it is made within the DYO, there are no problems. Great. That's excellent.
18:20 Ensign Howard: principle is written before it is read by a later line or a subsequent study
18:20 Ensign Howard: In today's example the HA study writes open and close to 1 and 2. Then the DYO which FOLLOWS that HA study uses the values being passed. They persist until they are changed. In our case they are rewritten on each calculation pass before they are read by the DYO
18:21 Ensign Howard: OK, on to final example for our DYO training today and it is another Trend example
http://www.ensignsoftware.com/tips/tradingtips59.htm
18:22 Ensign Howard: In our November 2004 issue we showed a Relative Strength Index Trend indicator implemented with 6 study alerts. This example has been rewritten using a single DYO and will be shown here. You can read the article to show the logic that is to be implemented.
18:23 Ensign Howard: The concept is that we will trigger a Long Trend mode by the RSI crossing above 70 and stay in this Long mode until RSI crosses below 40.
18:24 Ensign Howard: And vice versa, a Short Trend mode will be triggered by the event of RSI crossing below 30 and held short until RSI crossed above 60.
18:24 Ensign Howard: So the Up trend has a beginning trigger event and an ending trigger event. And the Down trend has a beginning trigger event and an ending trigger event. Now for the DYO implementation, which is a generic example of using trigger events
18:26 Ensign Howard: I can imagine some application of this concept to the B-Line template where certain behavior of the STO study would trigger a Trend mode to be activated or terminated. So, though the example is using trigger events in the RSI, the application of the example should promote further work on other templates with other studies.
8:28 Ensign Howard: This chart shows where we are headed. It has an RSI on the bottom of the chart, and the RSI crossing of various scale levels activates the Up trend (Long) or Down trend (short) modes. These duration of these trend modes is highlighted through the use of the red and green background coloring.
18:29 Ensign Howard: Here is the RSI property form and there is nothing special about it. Parameters are pretty ballpark parameters.
18:29 Ensign Howard: This is the DYO implementation, and each line will be discussed.
18:30 Ensign Howard: Line A, B, F and G are study flags that are True for a single bar when the RSI study line CROSSES above a selected level or crosses below a selected level.
18:31 Ensign Howard: The notation of RSI 7,3 X> 70 is for the RSI line to Cross Above 70. This is an event, and not a relationship. The event will happen on a single bar.
18:31 Ensign Howard: A relationship flag, on the other hand, such as RSI >= 70 would be True for several bars in a row while RSI is above 70. So the notation of a crossing above is X> and the notation of a crossing below will be X< and then the level value such as X< 40.
18:33 Ensign Howard: The key to the Up trend is for a crossing above 70 to NOT be followed by a crossing below 40.
18:33 Ensign Howard: so LIne C and D test to see when the event on Line A and the event on Line B last occurred.
18:34 Ensign Howard: If Line B event is more recent than the Line A event, then the Up trend mode has terminated.
18:34 Ensign Howard: Line E is the test to see which event is more recent.
18:34 Ensign Howard: The number of bar since Line A was true is saved by Line C in GV 1
18:35 Ensign Howard: And the number of bars since Line B was true is saved by Line D in GV 2
18:35 Ensign Howard: As long as [1] is a smaller number than [2] then the Up trend has not been completed and should be colored with the green zone marker.
18:37 Ensign Howard: Similar logic is implemented for testing the conditions of the down trend by lines F through J, and understanding A through E is identical logic.
18:37 Ensign Howard: So one of the events enables the trend mode, and the other event turns it off. Which ever is most recent affects the coloring of the zone or trend. Again, you could use color bar markers instead of the zone markers, but I kind of like the zone coloring to show which mode you are in, and that leaves the color bars available for Color Bar studies or other indications.
18:38 cos: Howard so if we want to use this template now RSI trend, we have to add this DYO to it to complete it?
18:39 Ensign Howard: cos, complete it, but I can add it later today. I will call it RSI Trend when I upload it
18:40 Ensign Howard: More important then the DYO is the principle I am trying to teach of the events and testing which is most recent.
Help menu of DYO Library
18:40 Ensign Howard: One last thing, in the current version we added a new Help menu of DYO Library
18:42 Ensign Howard: This menu will take you to the valuable DYO resource page with 100 examples that have been cross referenced for the statements they use.
18:42 Ensign Howard: The TTM Trend indicator is on the list of examples. You can get to the same web page using the DYO Library of Example link on the Help page of our web site.
18:42 zbullzbear: H do you have a chart example with the RSI Trend?
18:43 @Buffy2: thank you so much Howard
18:44 Ensign Howard: I hope you all enjoyed the review of 4 trend indicators
18:44 @Buffy2: the line by line really helps me to understand how DYO is working
18:44 Zygote: Lots of great content, Howard
18:44 Ensign Howard: They are varied and 3 of them used DYOs for their implementation, and in the process of discussing the trend concepts and their implementation in DYOs, you have learned more about using DYOs.
18:45 trendtrader: wasn't there once a Bradley template for download?
18:45 Rice: Great class. Since the subject is Trends, has anyone asked about Fractal Trend or Fractal Efficiency (or some such nomenclature) indicators of trend strength?
18:45 bl: Thank you Howard - great class as always
18:46 Ensign Howard: rice, from my last exposure to Fractal trend I found it to be identical to the Minor Trends color bar study already built into Ensign
18:47 Rice: I think what I'm talking about is different. In brief, ((y2-y1)/(x2-x1)) /total path taken by price between points one and 2.
18:46 Ensign Howard: Search the Q&A Knowledgebase for Fractal and I think you will find an article on it.
18:46 zbullzbear: Thanks Howard..examples of using alerts and dyo to do RSI Trend..am I right?
18:46 Zygote: Very fancy name - fractal trend - I assumed it was very sophisticated!
DYO (A and B) OR (A and D)
18:44 FuturesTrader: Howard, I am having a problem getting a DYO Boolean OR function to work. The ANDs work fine. Could you see if you could quickly spot my problem? The OR on line F creates a solid signal
18:47 FuturesTrader: Line F makes the solid line second from the top instead of the following...
18:47 Ensign Howard: futures trader, lets discuss what you are trying to accomplish
18:47 Ensign Howard: Line A, B and C is a 2 condition coloring. Line D is a duplication of B, so why have it. I do not know why you have E, it is a duplication of C if you think about it.
18:48 FuturesTrader: D is not a duplication, it is an 11-period MACD average instead of a 16
18:49 Ensign Howard: Not according to the DYO you posted. Both B and D use the same MACD study, which is a 3,10.
18:49 FuturesTrader: Look at the different subscript at the and of the MACD name -- t verse r One is a 3/10 MACD with a 16-period average (t suffix) and one is a 3/10 MACD with an 11-period average (r suffix)
18:50 Ensign Howard: ok, I was expecting 3,10 to differ. Anyway, if you are AND of the studies, then Line C is unneeded. You can eliminate C and the AND operation would be on a set of 3 instead of 4.
18:51 Ensign Howard: So you have A rising, B rising and C rising. So you have a 3 condition flag. Now why have Line F at all
18:52 FuturesTrader: I'm not sure I understand your question. I want to OR the result of two different AND operations.
18:52 Ensign Howard: your OR operator is for a set of 5 GVs. Working with the DYO you show, type out the logic you intend.
18:53 FuturesTrader: Because it will show the composite (Boolean OR) of the 11 and 16 period raising MACD averages
18:53 Ensign Howard: example ( A AND B) AND D which is A AND B AND D
18:54 Ensign Howard: so Line C is unneeded, show expression using A B D
18:54 FuturesTrader: (A AND B) OR (A AND D)
18:55 Ensign Howard: ok lets do it this way
18:55 Ensign Howard: 1 moment
18:58 Ensign Howard: A and B are same as you have now
18:58 Ensign Howard: Line C will duplicate [1] by copying into [3], which is quicker than repeating LIne A to store in [3]
18:59 Ensign Howard: line D is same as you have now, but puts flag in [4]
18:59 Ensign Howard: Line E is the And of 2 values, twice with a OR between them
18:59 Ensign Howard: Set size needs to be a Number = 2
19:00 Ensign Howard: So it accomplishes this sequence ([1] AND [2]) OR ([3] AND [4])
19:00 Ensign Howard: that is why [1] your A is repeated in the [3] position
19:01 FuturesTrader: I just tried it and I think it works!!!
19:01 Ensign Howard: It should, you got the answer from me....lol
19:01 FuturesTrader: You are the best!!
19:01 Ensign Howard: It was a good question, and exercise, and a worthy addition to today's training class on using Boolean logic in DYOs. Have a good evening, enjoy.
19:01 FuturesTrader: Does study rising only compare the last two bars? How does it handle flat lines?
19:02 Ensign Howard: Yes it compares 2 values of current bar and prior bar positions
19:02 FuturesTrader: Does it keep rising even if it goes flat? assuming rising to begin with.
19:02 Ensign Howard: good question.... when 2 values are equal, we look even earlier for a non-equal sequence.
19:02 Ensign Howard: Thus if a down trend and then flat, we return flag for still being in downtrend. If in uptrend and then flat, we return flat for still being in uptrend. So a flat will continue the rising or falling condition it was in previously.
19:03 FuturesTrader: GREAT. That is all my questions. Super help to me!!! Thanks a million!! Good assumptions to bias the flat line with the previous direction! That's perfect for me!!!
19:04 Ensign Howard: Excellent question whose answer is not obvious, so it needs to be answered by me to get it in the document such as this transcript.
19:04 FuturesTrader: Thank you again!!! I appreciate you staying after to answer my questions, Howard. Peace.
19:05 zbullzbear: Howard when using ZON as marker, it comes over the right and left edges of the chart and makes it messy..anything I can do to fix that?
19:06 Ensign Howard: zbullz, increase the right side margin and you might consider the tool using the zon marker to be Close Only if you do not need an update tick by tick
19:06 zbullzbear: k thanks
19:05 Ensign Howard: welcome, bye
19:05 FuturesTrader: G-Nite Howard.
18:47 cos: Thanks for the class Howard
19:06 @Buffy2: What a great class TY
19:07 Ensign Howard: ok, thx buffy, I think the class ended up being a pretty good one.
19:15 Ensign Howard: good night.