Min/Max of indicators

[gidielle]

Now we can have the value of price indicators for close, open, high, low, etc etc ... so I can set high/low and I know relative max/min during a candle.

For volume indicators as Bav Trend or price/volume indicators as Chaikin/Twiggs Money Flow isn't possible, the max of volume doesn't match with high price.

Would be very useful to have the min/max value of these indicator for every candle.

if it is so heavy to calculate and plot, it would be calculate only in real time.

thx

[Mike Medved]

If I understand you correctly, this is not a conventional method of calculating or displaying indicators... Can you link to someone doing this?

[gidielle]

no, min/max would be displayed as all other indicators.

to calculate, think to Chaikin/twiggs Money Flow, when MT open the chart it would calculate the value tick by tick to have the min/max for every candle, this (I believe) could be very heavy for MT/processors so MT could calculate the indicator only in real time, using a pointer to save min/max, and dislay on the chart the indicators from that moment.

the same if you change the set of the chart/indicator, MT begin to display the indicator only from that moment

thx

[gidielle]

do you believe to add Min/Max in the future?

[Jerry Medved]

not in the near future

[gidielle]

Maybe I'm wrong but I believe min and max would be calculate easily:

 

If (Bar Close == Bar Open)

(

      Max = f(x);

      Min = f(x);

);

If (Bar Close != Bar Open &&  f(x) > Max)

(

      Max = f(x);

);

If (Bar Close != Bar Open &&  f(x) < Max)

(

      Min = f(x);

);

[Jerry Medved]

Most indicators are not computed on every tick, which is what would be needed for this.

[gidielle]

With the custom indicators can I create them as I have wrote and plot only in real time?

[Mike Medved]

Yes. Once we allow custom indicators. We need to provide the editor for it, with syntax detection, compile errors etc etc etc. Then deal with the security issues. But we're working on this.

 

The ticks will be available to you in the custom indicator to compute whatever you want... Still - computing an indicator on every tick (instead of on the candle's values) during a "full recalc" on initialization of the chart will be slow, so I would suggest doing that only on the partial recalcs (that is, as the data comes in).

 

I will address this in the manual when we release the custom indicators.