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Hiding bar data panel and study data window The Bar Data panel and the Study Data window can be displayed or hidden by checking or unchecking their menu item on the pop-up menu. When a chart is displayed, click the right mouse button to display the pop-up menu. The menu items are Show Window | Bar Data and Show Window | Study Data. Also, these two display areas can be hidden by clicking on them on the chart. Back to TopQuick display of study property window Click on the Object List button, which is the right most button on the button panel. The property window is displayed when you double click on a name in the list. Or you can click on the study's line to display its property window. Back to TopColor bar trend tool The color bar trend tools paint the bars from one turning point to the next. The yellow bars at the end of the chart are not colored until the next turning point has been identified. Then the bars in this latest trend will color from the prior turn to the new turn. You can think of the yellow as a trend 'In progress'. Usually the trend in progress will be a reverse of the previous trend. Occasionally it will be determined that the bars are a continuation of a previous trend, and the supposed prior turning point was not a turning point after all. Back to TopStudies in workspaces Ensign Windows is flexible, and I think everyone should find a method of use that suits their preference. Let me explain the principles. A) In a workspace, the charts are dressed with studies and draw tools remembered by the workspace. B) When a chart is not displayed in a layout window, it dresses itself with a study list that is owned by the chart. C) When you change the chart in an existing window, the Lock Studies check box on the Charts Panel will determine whether the new symbol uses its private study list or retains the current window's study list. Can you see and appreciate the difference between these facts? Understanding these principles is critical to this discussion. If you don't understand them, you will be confused as to which study list is being used to dress the chart. Now for an example: Assume I have a chart with a 10-bar Stochastic. If I use the T button to change to a 1-minute chart, the chart is dressed with the 10-bar Stochastic if the Lock Studies check box is checked on the Charts Panel. The Charts Panel is displayed by clicking the 2nd button on the main button bar. Now, if I use the quote page and open a new 1-minute chart, that chart will be dressed with its own personal study list, which might include RSI, MACD, and let's assume a 7-bar Stochastic. Can you see the difference here? For those of you who want the same study list applied to all charts, rotate your charts in a window with the Lock Studies box checked on the Charts Panel. For those of you who want a 1-minute chart to have unique study parameters, and a 5-minute chart to have a different set of parameters, open these charts from a quote page. Once a chart is open, you can scroll other charts through this window and have each chart load its personal set of studies when the Lock Studies box in unchecked. Back to TopStochastic forecast Ensign Windows shows a forecast of the next bar's closing price that would cause the two Stochastic lines %K and %D to cross. Since Stochastic can be calculated using either Simple or Exponential averaging, the implementation required working the math for both formulas. But that complexity is all transparent to the end user. What you will see is a 3rd value posted in the Study Panel. The 1st value is %K, the 2nd value is %D, and the new 3rd value is the forecast price that would cause %K to equal %D. As %K nears %D, the forecast price moves closer to the current price as expected. Back to TopVolume studies Ensign Windows has the following indicators that are based on Volume:
1) On Balance Volume Also, several of the other studies can use Volume as the data input instead of price. For example, you can do an RSI on the Volume. My recommendation is that you study the six trading tips that are published on my web site. I would use chart patterns to get an idea of what the bars will do as they approach the middle band. I would pay attention to Fibonacci Price Levels, wave counts, number of bars in a wave, trend lines, and parallel slopes. I would print out a chart and mark it up using a straight edge. I would study it for pennant, flag, and gap formations. I am not saying you cannot continue to find value in using Bollinger bands as you presently do. But, my approach to your question would be to use the tips talked about on my web site rather than try to find the 'feel' for the market in a volume-based indicator. Back to TopPoint and figure Our implementation is correct, and all that is needed is a bit of explanation of Point and Figure charting. I will refer to this example image:
1st principle: The boxes are centered on prices that are multiples of 25 because the box size is 25. Therefore, a box that straddles a price of 140150 means the market traded at that price or higher for an ascending column. If a box does not straddle the next multiple of 140175, as is the case in the image, it means the market did not make it to 140175. It might have gone to 140170, but you cannot tell because the box size is 25 points. All you know is it made it to 140150 or higher, but not to 140175. 2nd principle: The reverse count of 3 means the market will have to trade three boxes lower from the price of a high box before a reverse column is drawn (green color). If the high column covers 140150, then the reverse will have to go to 140075 (=140150-3x25). 3rd principle: Because the reverse count is 3, each column will have a minimum of 3 columns. All down columns (green) plot starting 1 box lower that the previous up column (blue). All up columns (blue) plot starting 1 box higher than the previous down column (green). This is standard construction techniques for Point and Figure. So, considering these three principles, the example plot I show, and the plot you see with a box of 5, reverse 3, is correct. Computers have given you the freedom to stretch or compress your "graph" with great ease by changing the horizontal bar spacing and the vertical scale increment. If you want a consistent vertical scale increment to be used by a chart, such as SP0Z, then double click that chart's background to display a personal property form for the chart. On the right hand side are a few scaling choices. You will want to use the choice for a constant scale increment and enter an increment that is usable for the chart such as 100. Then Ensign Windows will do its best to accommodate your request and display the chart using that increment now and in the future. You can turn the bars off on the chart's personal properties form. Double click the chart back ground and uncheck the Show Bars box. Then the P&F study will display without the bars. Ignore the time grid on the bottom which still applies to the hidden bars, and not to the P&F. Some might want to have both the bars showing and the P&F, and use the Offset parameter on the P&F properties form to move the P&F vertically so that the current bars are not competing with the P&F. My reference for implementation of P&F was Technical Analysis of the Futures Markets, by John J. Murphy. This book has two chapters on P&F which I consider valuable. If the P&F is applied to a tick chart, then you have a pure P&F based on every tick. If the P&F is applied to a bar chart, then you have a simplified P&F that only uses the highs and lows of the bars. There are published rules to follow which basically amounts to: a reversal is not considered as long as the new bar is able to extend the P&F column under construction. In real-time construction you will notice that EW will extend a column as it happens, but must wait until the completion of the current bar's time period before posting the reversal column. Back to TopCCI study peaks When the CCI indicator goes out of the panel range, an adjustment can be done to get the peaks back on the graph for the CCI study. Go to the parameter form for the CCI study, and change the present multiplier (probably set at 150) to a smaller multiplier, such as 100. The value is this field is truly a multiplier that amplifies the plot. 150 is suggested, but 100 may get the peaks back on the chart for you. The study line pattern will be the same, it just will not be as amplified when it is plotted. Back to TopOverlay hidden I assume you are displaying a Nasdaq chart, such as AAPL.D, and then want to overlay another stock symbol on the Apple chart so you see both symbols simultaneously. Assume 2nd symbol is IBM, and we know you have IBM.D data because you can display IBM.D as a chart by itself. I think the problem is that you cannot see IBM overlaid on AAPL. The problem is probably in the parameters for the IBM overlay. On the AAPL chart, click the Chart Object button (rightmost button on main button bar) and in the drop down list select the Overlay, and click the Properties button at the bottom. On the Overlay Properties form the scale selection needs to be HIDDEN. If you use a HOST scale, and the overlay does not share the same scale range as the host, then you will not see the overlay because it is plotting off scale. By selecting a scale of HIDDEN, then the IBM uses in independent scale so its plot can be seen. I think this is the solution to your problem. When Host is the selection, the overlay will plot on the Host charts scale. This works well when the two items trade in the same price range. The scale will be set for the price range used by the Host. If the Overlay plots outside of that range, you will then not see the overlay. One can drag vertically down on the scale area to increase the scale range, and thus include the price range where the Overlay is plotting. When Hidden is the selection, the overlay will use its own scale and determine its own range. The scale that is being used is hidden, but can be displayed by double clicking on the scale area. The overlay will automatically size itself to maximize the chart area to display itself. While Hidden has the advantage of always showing, Host has the advantage is plotting the overlays in correct relation to the host (assuming they plot in the same price range to begin with). The overlays that are disappearing on you probably are plotting off the scale range used by the Host. If you will drag in the scale area vertically down to increase the scale range, you will probably see the overlay reappear as the scale increases to include where the overlay is plotting. Back to TopStudies, templates and layouts explained
Charts
Templates
Workspaces
Principles 2) Click the Template button, and the template panel is displayed. Click a template filename and then the Open button to apply a different study collection to the chart with the focus. The purpose of a Template is to quickly apply a different collection of studies to one or more charts. 3) If you click the Workspace button and save the current screen organization under a workspace name, then the workspace will remember how each open chart window is currently dressed. The current dressing might have originated from a chart's private study list, from a template, or from changes you just made to the chart to add or remove studies. The purpose of the workspace is to restore the screen to the way you currently see the screen. Back to TopDifference between Momentum and ROC Momentum is A-B. Rate Of Change is (A-B)/B The plot of these two studies will look the same, but the scale will be different. Back to TopTrend color bar studies The Small, Minor, and Major Trend color bar studies are all the same logic, which is implemented in 75 lines of programming code. The rules and programming code are a bit complicated, so I will try to explain in a simplified manner. Basically the trends identify a top pivot bar top and a bottom pivot bar, and then color all bars between two opposing pivots the same color to indicate a trend from the previous pivot bar to the last pivot bar. The key is how do we determine that a bar is a top pivot bar or a bottom pivot bar. To determine a pivot bar, we need to examine bars which precede the bar under consideration as well as the bars which follow the bar under consideration.
For a small trend we consider 1 bar preceding and 1 bar following the bar being tested. One principle you should be picking up on is for a major trend, there will be a 4 bar lag between when a pivot top or bottom is formed and when Ensign colors the trend to that pivot bar because we need to examine 4 bars following the pivot bar being considered. Bars that put in new highs in an up trend obviously would continue the up trend. Bars that put in new lows in a down trend would continue the down trend. It is the evaluation of inside range bars and outside range bars, bars with equal highs or equal lows, and dual pivots that require the complexity of the rules that are implemented in our code. Back to TopAlert stochastic cross moving average The Alert Object has a parameter for the moving average studies that can return the study value as a percent of the chart's scale range. This permits comparison of studies which plot (moving averages) prices to studies that plot in percent (Stochastics and RSI). You know I have already argued the case that you are comparing two unrelated items here, a price and a percent, but since you have asked for the ability again I have implemented it for you. I guess there is some value in a moving average as a percent of the chart scale since the automatic scale setting does a pretty good job of keeping the chart centered. Here is an example of using the Alert object to alert when the simple moving average study is above or below the Stochastic line. In this illustration, the red bullets at the top of the chart indicate the bars where the average is above the Stochastics. This is an example of what you are asking for. The moving average line is plotted in pink, and the stochastic line is plotted in blue.
The key to this is the new parameter choice you see in the 3rd box of the left panel that reads '1st line % of scale'. This choice uses this formula to convert the price to a percent: % = 100 * (StudyPrice - ChartScaleLow) / (ChartScaleHigh - ChartScaleLow). Similar conversions from study value to percent are provided for the stop studies (Parabolic, Volatility, High/Low) and those that plot about a zero center (sMACD, eMACD, CCI). Thus, you will have lots of possibilities for comparing unrelated studies to each other by comparing their percentage value. This is quite equivalent to how you visually see the studies plotted on top of each other on the chart. Have fun. Back to TopAlignment of spread placement It sounds like you have the Spread for the study showing to give you a histogram of vertical lines in the study panel. The parameter form for the study gives you the ability to select the Spread Placement. Select Left to plot the spread one pixel to the left of the price bar placement. Select Center to align the spread exactly under the price bars. Select Right to plot the spread one pixel to the right of the price bar placement. Sounds like you have Left selected, and you would prefer to have Center for the Spread Placement. Probably you will also want to check the Use as Default box on the parameter form after you have changed the selection to Center, so Center will be the default position in the future. Now, why do we give you three choices? Occasionally users want to overlay the study on the chart instead of plot in the study panel below the chart. If the spread is centered on the bar, the spread will obscured price bars. Therefore, the spread should be plotted one pixel offset from the bar either to the left or to the right. One spread overlay might plot offset to the left, and another spread overlay might plot offset to the right so both spreads and the price bars can be seen. Back to TopPattern Trapper Indicator Construction The instructions below will walk you through the procedure for applying Pattern Trapper intra-day indicators using the Ensign Windows charting package. The items in bold are comments made by Howard Arrington of Ensign Software. The lines preceded by the ">" character are Bob Hunt's description of the indicators desired. Display a 5 minute chart and add studies to the chart as shown below.
> PtrnTrpr: 5-min 20 EMAs (which includes the 5, 15, and 30 min. 20 EMAs) Add the Exponential Moving Average study to the chart twice. The EMA is selected from the list of studies shown when you click the Study button on the main button bar. Click on the EMA line to display the properties form and enter 20 as the 1st parameter. Enter 60 as the 2nd parameter. Click on the 1st color box and select Red in the color dialog form. Click on the 2nd color box and select Blue in the color dialog form. I suggest that you check the Use as Default box before closing the EMA parameter form so the next time you add EMA to a chart it will start with these settings. On the 2nd copy of the EMA you added to the chart, click on its study line to go to the parameters form. Enter 120 as the 1st parameter and a 1 as the 2nd parameter. Change the 1st color box to Magenta. These two EMA objects give you the 3 average lines .
> PtrnTrpr: DP & S1-3 & R1-3 Click on the Draw Tools button and select the Support and Resistance button on the tools panel. On your chart click down on yesterday's high, drag to a 2nd point which is yesterday's low, release the mouse and move to the 3rd point which is yesterday's close and click the mouse to place the 3rd point on the close. You might then right mouse click to show the parameter form and check all of the line effects to display the 7 lines Bob is asking for. Check the Use as Default box so all 7 lines showing is the default for the next time you use the tool.
> PtrnTrpr: 3/10 Oscillator. Select the MACD Exponential study from the study list and set its parameters like you did the EMA. The 1st parameter is 3 and the 2nd parameter is 10. Set the colors and check the box for the Study Window so the study plots in a panel below the chart. I don't think Bob plots an average of this MACD and therefore, the 3rd parameter would be 1.
> PtrnTrpr: YestHL Select the Daily Price Levels button on the Draw Tools panel. After clicking on the chart to drop the tool on, right mouse click to show the parameters form. Select the Levels for Yesterday High Low. Change the High color to Red. Change the Low color to green, and select a Line Thickness of Double. Check the Use as Default box before closing the parameter form. Click the Template button, Save As button, and enter a name for your template. A template remembers the studies and their settings. You can display a different chart, apply the template and all the studies will be put on the chart with the exception of the Support and Resistance tool. This you will have to manually put on the chart if it is not already showing. Back to TopLast modified 8/11/08 10:54 AM |
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The box size is 25 points, and the reverse count is 3.
