Percent change tool

[HK~]

Percent change tool

 

Not sure if this is considered indicator.

 

Previously requested: Ref: Lines: Horizontal/Ray/Vertical - time & price 

 

Was not specifically addressed, so listing separately in the event it was on oversight.

 

Feature exists in Tradestation and Tradingview for reference

 

TS method [preferred]

 

 

Tradingview method

 

Thank you kindly,

 

HK

 

[Jerry Medved]

the feature that you are asking - do you want the % change to show only while you are drawing, or there all the time? Basically as a line with displayed values?

 

Horizontal line showing price - isn't that the Horizontal Line indicator now?

[HK~]

Ideally the % change is a feature of a trend line which remains displayed until either the trendline [freestyle] is deleted or % change is deselected in parameters [same as show current parameters check box on horizontal line parameters]  (display at start or end an option, not necessity)

 

As a stand alone tool, prefer remains displayed: "basically a line with displayed value"

 

The SS depicting the Horizontal line showing price was actually a tradestation chart, with horizontal line drawn, parameter selected to show price [display: left, center, right -- left was selected]

 

It was an old SS I had which I used to depict a price drop on VXX - vertical line showing date, horizontal line showing price, diagonal "trendline" displaying % change. 

 

I primarily used the SS to display the % change feature of the trendline, The vertical and horizontal lines just happened to be there, they were not relevant to the % change feature request. That was previously requested.

[Jerry Medved]

not crazy about adding stuff that always shows - that gets into the "too many options" situation. I know others throw everything and the kitchen sink into the charts but its a PIA to use.

 

What we are thinking is to do this:

1) When annotation is being drawn / moved, show the FREESTYLE Trace Cross-hairs (not the values box)... That gets you the date/time and Price at the mouse

2) add Change values to the values shown for the cross-hair on the X and Y axis 

 

This way while you are drawing the trendline, you can see the change values.  If you need to see or measure, just draw or move the line. 

[HK~]

I completely understand your position on keeping the platform light.

 

Not being a programmer I can not fully appreciate what it takes to add certain features and the subsequent cost in resources. I also desire a reliable program which is light and dependable. It is a fine balance between feature rich and bloat. 

 

Being a discretionary trader and TA chartist, one whom relies heavily on multi-time frame analysis and the confluence [convergence point] of multiple points of interest [POI's] I can only suggest those items in my basic toolbox which consists of:

 

Multi Time Frame analysis

Trend determination 

Horizontal lines [discretionary & pValues: pC,pH/L,glbxH/L, OR-60 (opening range 60min]

Diagonal lines [their support, failure and opposite or back tests]

Channels

Wedges

Megaphones

Price action [candlestick's, etc... very wide topic]

Pattern completion prediction

Measured Moves

Gaps 

pS=R, pR=S [relationship of previous support & resistance levels]

Fib 50/62% levels

9/20/50/100 EMA/SMA [dependant on timeframe]

Reversion to the Mean (RTM)

Volume

Volume exhaustion

etc.... 

 

I employ different strategies, each requiring a different combination of tools

Long term

Swing/intermediate

intra-day

Afterhours [AH] stop hunting

Volatily Events

Gaps

Earnings

Scalping

Trend/countertrend

etc...

 

[i do not use oscillators or any lagging indicator such as MACD] others may find value in them, no stones thrown, but if one must save resources.... 

 

With both Tradestation and Mutlicharts I employed custom written ELD's, which will not be available in MT

 

My desire in previous feature requests for "line values" is a direct result of my preferred tool set and regain some of the functionality which will be lost.

 

% Change is an important tool and I appreciate your consideration in including it in MT. I find it a very useful tool, especially during AH excursions [stop hunting].

 

How you implement this [and any other requests] is up to your discretion, as you described above is a viable solution.

 

I learned a very long time ago, the only bad question is the one that isn't asked. MT being in the development stage, I felt now is the best time to ask, much more efficient than once the platform is complete.

 

I like your program as it stands currently and see its potential. I see areas which may be enhanced to fit "my desires/needs", but not many, hence my interest in its development.

 

What ever you are able to do is appreciated. 

 

Thank you kindly,

 

HK 

[Jerry Medved]

HK - no need to explain. We know .  Will release the version that shows the stuff while moving and see how that goes. then see about the rest.  

 

ELD - Sorry, don't know the acronyms for other programs - that custom indicators, etc for Tradestation? If so, at some point that may be available in MT. Almost all the indicators you see today are dynamically compiled specifically with that in mind.

[Mike Medved]

It is actually very important for us to provide the tools that traders like you employ in their trading - but it has to be done without overwhelming more casual users.

 

We value your input, really. If you can think of a feature implementation that would help you, please put it here. Preferably one per post

[HK~]

It is actually very important for us to provide the tools that traders like you employ in their trading - but it has to be done without overwhelming more casual users.

 

We value your input, really. If you can think of a feature implementation that would help you, please put it here. Preferably one per post

 

Thank you Mike,

 

Most of the items I am suggesting are simple basic tools, which most casual users would also benefit from. My lengthy posts make them appear more complex than they actually are.

 

The list I posted above, "Basic tool set", was more techniques, than actual "Tools". I posted them primarily as reference for the application of the tools, annotations, drawings etc.

 

I believe in the KISS principle, but, that probably isn't very apparent by my recent list of feature requests   

 

I am currently clipping notes, feature requests, and will attempt to post them individually in a concise and organized manner.

 

There shouldn't be too many, My posts may be long, but my list will be short   

 

---

 

Thank you Jerry,

 

Appreciate it.

 

ELD = Tradestation Easy Language Document = custom indicators

[Mike Medved]

ELD = Tradestation Easy Language Document = custom indicators

 

Cool. We will make it possible to do custom indicators. In fact, every indicator in MT will be "custom" - there is no distinction in how system indicators are done vs. user-written ones.

 

I think I made the framework where you do the custom indicator as easy or easier than other frameworks I have seen. I do have to document it though before we release it

[elisa]

Is a tool that allows calculating the percent price change between two points in a chart present in MT? I was exactly looking for this. I've seen that when drawing a line this % change is displayed on the Y axis but I would have much more preferred to see it displayed on the line together with the angle........having to look on the very right to see this number is extremely annoying.

 

Thx
Elisa

[Hans]

upvoting the post from elisa above. I use the line drawing tool for price % measurements and would love to see the percentage next to the line right on the chart, rather than on the Y axis.

Edited September 20, 2023 by Hans