Extending chart with padding area

[vrtrader64]

When padding is added to a chart, a couple things should be different (i think) :

 

1) Pivot line indicators should be extended into the padding area, to help visualize potential support and resistance levels.

 

Example of how Stockcharts.com does it:  http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=0&mn=7&dy=0&id=p37160368203

 

2) The time scale should extend into the "future" as necessary and display upcoming date/time values in the x-axis, accounting for the selected trading calendar.

 

3) When pivot line indicators are selected, if a chart has padding and the data permits, "future" pivots should be displayed. Example: a 15min intraday chart is padded with 3 hrs of extra bars; after the close of the session, tomorrow's pivots are available and could be shown.

 

 

[Jerry Medved]

1) Intraday chart pivots are extended into the padded area. Are you referring to historical?

 

2) On time based intraday charts, MT does show the "future" time scale up to the end of the current day. Can't do it beyond that.

 

3) Indicators are calculated on existing data.Pivots are definitely not going to show in the future. Not the way MT works.

[vrtrader64]

1) Yes, I was looking at a historical chart and noticed that pivots are drawn in for only a small part of the "padding" area - would be nice if they extended across all the way and to touch the Y-axis.

 

2) On time-based intraday charts, I don't see why you could not show time scale beyond current day (if padding selected). It would obviously not have data, but could serve as a useful place into which trendlines could be extrapolated; or pivot lines extended.

 

3) Intraday pivots are based on daily data, so it is clearly possible to calculate tomorrow's pivots after today's close. So if you allow padding to show future date's time values, intraday pivots can be shown for one day in the future, after the current day's close. 

[vrtrader64]

Here's a hand-modified chart showing how MT could project pivot lines into the future, and label x-axis with future dates if padding is enabled

 

 

I notice that there is not trouble extending hand-drawn lines into the padded area, so pivots could be drawn there too, right ?

[Mike Medved]

1) Yes, I was looking at a historical chart and noticed that pivots are drawn in for only a small part of the "padding" area - would be nice if they extended across all the way and to touch the Y-axis.

 

2) On time-based intraday charts, I don't see why you could not show time scale beyond current day (if padding selected). It would obviously not have data, but could serve as a useful place into which trendlines could be extrapolated; or pivot lines extended.

 

3) Intraday pivots are based on daily data, so it is clearly possible to calculate tomorrow's pivots after today's close. So if you allow padding to show future date's time values, intraday pivots can be shown for one day in the future, after the current day's close. 

 

1. Made pivots extend into padding space on hist charts. Next release.

 

2. It is problematic to show intraday time scale beyond current day. The chart literally doesn't know if tomorrow exists. It may not - maybe it is weekend or holiday. The chart doesn't calculate this going forward and it would take quite a bit of redoing things to do that.

 

Same thing with historical charts X tick markings on padded area - the hist chart literally has no idea on what days in the future the data should exist and on what days it shouldn't. The way lines are extended into padded area is that their anchor points' X coordinate is stored as "this day in the past plus N candles/days".

 

3. Some pivot systems depend on current day's data but for some yes it is true. The problem here is plotting the next day or period's X ticks as I explained above...

[vrtrader64]

1. Made pivots extend into padding space on hist charts. Next release.

 

2. It is problematic to show intraday time scale beyond current day. The chart literally doesn't know if tomorrow exists. It may not - maybe it is weekend or holiday. The chart doesn't calculate this going forward and it would take quite a bit of redoing things to do that.

 

Same thing with historical charts X tick markings on padded area - the hist chart literally has no idea on what days in the future the data should exist and on what days it shouldn't. The way lines are extended into padded area is that their anchor points' X coordinate is stored as "this day in the past plus N candles/days".

 

3. Some pivot systems depend on current day's data but for some yes it is true. The problem here is plotting the next day or period's X ticks as I explained above...

 

1. Thank you.

 

2. Maybe it's too hard to do, maybe not. Just consider it, so if inspiration strikes, you may upgrade chart padding to include future dates. 

 

3. Please refer to chart  below - it is a 3min bar intraday chart drawn today (before the open - with padding.) I believe it should have today's pivots (based on Friday, Jan 2's data) even during the premarket. They should be in the padded area instead of Friday's pivots, which are based on Wed 12/31 data. Friday's Pivots lines should end at 16:00 on Jan 2 since I am not showing extended hours for prior days. 

 

 

[Jerry Medved]

the picture you have shows a chart that does not have today on it. If the chart is not set to show extended hours, and today's regular hours did not start yet, today does not exist as far as the chart is concerned

[vrtrader64]

Right, that chart shows no Extended Hours - but that suggests a way to show intraday pivots in padding: treat padding as a pseudo-extended hours display. 

 

 

This is turning into a feature request more than a bug report.