Hi, I am new to coding in Multicharts. Seems like it should be an easy script, I am trying to find a hints on what's the most efficient way of coding this. So here's is what I am trying to do.

In a 5-mins chart, I would to calculate the average of the previous 2 days price. So, say today is N, I want the 5-mins average of N-1 and N-2.

Can this be done easily? Anyone can give me any advice? Thanks in advance.

Appreciate any help!

hong615,

welcome to NexusFi (formerly BMT). Can you please clarify your request a little bit by giving an example? What exactly is the "previous 2 days price"? What would be the length of your average?
Do you want to compute the (High + Low)/2 price for every 5 minute bar of the preceding two days and then plot this result today as a straight line? Do you have an image of what you are looking for?

Regards,
ABCTG

ABCTG,

Thanks for nice welcome :-P

Here's a bit more details of what I wanted to do:

it's similar to a moving average, but instead i don't want it to be moving, say today is Mar 19, I want the average of Mar 18 and Mar 17 of all the closing price of a 5-min bar. So the value will be the same within a single date. and updated the next day. The blue line is similar to what i want, but it's using CloseD, will it be possible to use the average close of all the bars?

Thanks again!

hong615,

here you go, I wrote this script for you and it should do what you have in mind.
I didn't hard code the 2 days for the average, you can adapt the amount of days with the "DaysToAverage" input.
All days within the average have the same weight, so it doesn't matter if one of the days is longer than the others they will all have the same influence on the average.

Regards,
ABCTG

 

Code

Inputs: DaysToAverage (2); Variables: BarCounter (0), DailyAverage (0), XDayAvg (0), ArrayFull (false), DayCounter (-1); Arrays: DayAverage [] (0); once begin Array_SetMaxIndex(DayAverage, DaysToAverage-1); end; //store daily Average and compute new x day average for today if Date <> Date[1] then begin DayCounter += 1; if DayCounter >= DaysToAverage then begin once ArrayFull = true; DayCounter = 0; end; //store previous day's average if BarCounter <> 0 then DayAverage[DayCounter] = DailyAverage / BarCounter; //compute x day average if ArrayFull then XDayAvg = Array_Sum(DayAverage, 0, DaysToAverage-1) / DaysToAverage; //reset tracking variables BarCounter = 0; DailyAverage = 0; end; //increment counter and track value for daily average BarCounter += 1; DailyAverage += Close; //output x day average Plot1(XDayAvg, "XDayAvg");

thanks, ABCTG. That helps a lot!