Wednesday, February 19, 2014

Indicator Copy

I use an indicator called Session Lines, it tracks the high, low, mid, VWAP, etc. of the active day trading session. Unfortunately, it works on bars (e.g. 1min, 5min), it does not work on tick charts (due to limitations of platform).

However, MarketScope supports a feature called "interop". This feature allows an indicator to access the output streams of another active indicator. Only the stream values are available (no colours, styles or graphic objects). However, it can still be pretty useful.

Here I show 2 charts. On the left is 5min chart of FTSE showing Sesion Lines. On the right is tick chart of FTSE, using the "Indicator Copy" indicator which "copies" the output streams produced on the other charts. The "Indicator Copy" uses the name of the source indicator as a parameter, in order to retrieve it from the list of active indicators. This particular implementation just displays the current value of the indicator, but the whole stream is available so it would be possible to re-plot the whole stream.

"Indicator Copy" works with any indicator that produces an output. The source indicator (Session Lines in this case) does not need any modification to support this.

No comments:

Post a Comment