Studies typically calculate on a bar's Close price. But Ensign studies provide the flexibility to calculate on other values such as a bar's High or a bar's Volume. Studies can also calculate on other studies, which is referred to as a Study on Study.
Open the property form for a study. The Data Point portion of the property form for a Moving Average is show here.
 
The Moving Average study, for example, can draw two average lines whose data points are independent of each other. This independence could be used to have the first average calculate on the bar Highs, and the 2nd average calculate on the bar Lows, creating a channel like this example.
Data Points
Close, High, Low, Open - These are bar values. 'Close' is the default bar price that most studies use in calculating.
(High+Low)/2 - The bar's midpoint.
(H+L+C)/3 - The average of the bar's High, Low and Close price.
(H+L+C+O)/4 - The average of the bar's High, Low, Close and Open prices.
Volume - The bar's volume.
Open Interest - Daily futures charts have open interest, and it can be used in study calculations.
Net - The change in the Close price from the prior bar, ie. Close - Prior Close.
Range - The bar's High minus the bar's Low.
True Range - Similar to the bar's range, but use yesterday's Close for the high if it is higher, or use yesterday's Close for the low if it is lower.
100*(C-L)/(H-L) - This is the 1 bar Stochastic formula of 100*(Close-Low)/(High-Low).
(Close+Open)/2 - The midpoint of the bar's candle body.
Tick Count - For intra-day and tick based bar charts, tick count is the number of trade ticks received during the bar's construction. See note #1.
Ask Volume - This is the sum of the tick volume for trades received on an up-tick. Prices received at the same price will be presumed to be at the Ask if the last price change was an up-tick. See note #1.
Bid Volume - This is the sum of the tick volume for trades received on a down-tick. Prices received at the same price will be presumed to be at the Bid if the last price change was a down-tick. See note #1.
Ask Ratio - This is the Ask Volume / Volume.
Bid Ratio - This is the Bid Volume / Volume.
Buy Pressure - This is a proprietary calcalation designed by Ensign Software based on a combination of factors including prior the bar values, current bar values, and the current bar volume. Buy Pressure can be an acceptable substitute for Ask Volume when Ask Volume is not known because the data source is refreshed intra-day, daily, weekly or monthly data and trade volume on up-ticks in unknown.
Sell Pressure - This is a proprietary calcalation designed by Ensign Software based on a combination of factors including the prior bar values, current bar values, and the current bar volume. Sell Pressure can be an acceptable substitute for Bid Volume when Bid Volume is not known because the data source is refreshed intra-day, daily, weekly or monthly data and trade volume on down-ticks in unknown.
Buy Ratio - This is Buy Pressure / (Buy Pressure + Ask Pressure).
Ask Ratio - This is Ask Pressure / (Buy Pressure + Ask Pressure).
Accum/Distrib - Formula: If High=Low then DataPoint=0 else DataPoint=(Close-Open)(High-Low).
Chaikin - Formula: If High=Low then DataPoint=0 else DataPoint=(Close - (High+Low)/2)/(High-Low).
Other studies present on the chart ahead of this study will show on the list for use in Study on Study calculations. Example shows a DYO study.
Global Variables - Studies can calculate on Global Variables 0 through 20, or a combination of Global Variables as offered in the companion drop down list.
Note #1: This data item is a collected piece of information that is not available from any of the data vendors when they refresh intra-day bars.
read more » Study on Study
read more » Zones Study Mode
read more » Properties Form
read more » Ask/Bid Volume Flutes
read more » Volume at Bid or at Ask
Last modified 11/2/09 2:45 PM
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