Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Hey Chad, a couple of questions from new user here:
1. How may I retain intraday historical 60-min (or any other intraday period) pivot points in my charts within at least current session (please see an example attached)?
2. Is there the Vervoort crossover available for IRT? I've been using it for many years now on other platforms. Tried to code it myself in RTL but stuck with referencing Heikin-Ashi
Thank you.
Can you help answer these questions from other members on NexusFi?
Let's start with the 60 minute pivots. While this functionality is not currently available to our Pivot Indicator, I just did some work to enable it in the next release (version 12.1.6 which should be available very soon). See the image below. This is how you'll need to set it up once 12.1.6 comes out, and what you'll see as a result. You can use 60 minute bars as the basis of the pivots, or ANY other periodicity for that matter (30 min, 120 min, volume bars, range bars, weekly or monthly bars). And by checking the "Text on Right" checkbox, each level will be label accordingly on the right (R1, PP, S2, etc). I will get back to you soon on the Vervoort.
As far as Vervoort, let me 1st show you how to plot Heiken Ashii on Investor/RT charts and then you can help guide me where we need to go from there to get Vervoort. See the image below. Just double-click on the bars to bring up the instrument preferences. Check the "Layer" checkbox and choose Heiken Ashii. You can have the HA bars layered and built upon any periodicity (I've chosen 5-minutes here). Now, what do we need to do with this to build Vervoort?
I know how to plot HA in IRT but I do never apply the crossover to HA charts. The question is just how to reference HAopen, HAclose, HAmin and HAmax in a formula. With CQG I use this code
So, simply like (OHLC.1 + OP.2)/2 for HAOpen and so on? How to set parameter "period" in a formula in RTL? Or it will be pre-defined by token? Sorry my ignorance, I'm not familiar with RTL so far.
This should give you the 3 "Curve 1" values. You'll need to click the button at the top of the chart and enter your period. You can adjust period anytime with that button (Period is actually using V#31 user variable).
Blue line is TEMA1. Gold line is TEMA2. And Pink line is TEMA1 + Diff.
Let me know how those line up and we'll move on from there to the Curve 2.
In the end, if this is an important enough indicator, we could just develop it as a RTX Extension to simplify things.
Hi Chad,
thank you very much for your fast response to the inquiry. First off, as I understood, the script posted on Friday is slightly misguiding due to differences between systems. Below is a ToS script that’s clearly showing how the indicator has to be plotted. I dropped ToS couple of years ago, so I can't provide a screenshot.
I like your idea about applying the indicator to HA layer. The “curve1” (which is in fact just a “TEMA_Curve1”) seems plotting in the chart correctly.
Please also note, once periodicity and/or symbol of the chart are changed to anything else, additional elements will appear. Until I remove them manually, the study often will be plotted incorrectly. (Please see screenshot below; it's a modified chart, HA bars are hidden, standard bars are shown)
On our end, we currently don't offer the n options, we just hard code that as 1.
And then we compute as follows:
HAClose = OHLC/4; // just the OHLC average for current bar
HAOPen = (HAOpen[-1] + HAClose[-1]) / 2; // average of previous bars HAOpen and HAClose
So pretty significant difference from how we compute HA it appears. Upon searching the web I did find some sources that agree with how we're currently computing HA including this one: Heikin-Ashi [ChartSchool]
So in your experience, do other software platforms offer an option as to which way the method is used? Also, is it important to provide the user with an option for "n" or is 1 almost always used here?
No, it isn't a difference in HA calculation. The formula for HA calculation you referred to is absolutely correct. Everything is okay with HA itself.
HAclose is always (O+L+H+C)/4 which is equal to your OLHC/4 (or average OHLC)
HAopen is always (HAopen [previous] + HAclose[previous])/2 and this matches your calculation of HAOpen.
But calculation of HAOpen and HAClose for purposes of building that particular indicator differs from the standard HA formula. The reason behind that is to make the indicator as smooth as possible with "real" zero lag. I think option n isn't that important for an average user and it can be easily amended in the indicator formula (or in a source code of RTX extension). You can set [-1] for both n, but I would recommend to set [-1] for the first n and [-2] for the second one. It will slightly reduce false signals rate. Please also have a look at ToS script above. I believe it is more informative.