Tools: Yesterday's High, Low, Close
|
I recently noticed that my small volume charts didn't show the same yesterday's high (YH), low (YL), and close (YC) values as shown on my minute charts. I keep the maximum bar count small and in the case of the YH and YL, the data to find those values was no longer in the chart data set! Rather than needlessly increase the max bars, and in the process make a resource intensive chart, I created a tab on the Daily Price Lines drawing tool that writes YH and YL as Global Values (GV). Additionally, I discovered that because the volume bars close out with volume, and not time, that the close shown on those charts didn't match the regular trading hours close. So, I added YC as another GV. The resulting setup is shown below. I can then draw the Daily Price Lines on my 5 minute chart and select this predefined setup so that the correct real time hours (RTH) YH, YL, and YC are written:

The GVs [18], [19] and [20] are then available to be used by the Daily Price Lines that I place on my volume bar charts. To do this, I created another Daily Price Lines setup that reads the GVs and marks them as price lines. I saved that setup as Tab 2. Ensign will then draw lines at the price levels stored in the Global Variables, using the line properties I selected. I always use the same colors for high, low, and close. I see the GV labels and know that they are the RTH values from the 5 minute chart.

Article by Ana Maria Gallo
Last modified 11/20/08 9:02 AM
|