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Re: [amibroker] Re: One chart instead of several ones.



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AF,

I was under the mistaken impression that what you propose was the  
default way AB worked.  I completely agree with your request that it  
should be at least an option, and if you write it up in the  
suggestions, I will happily add my endorsement also.  I would want the  
timeframe compression to mimic the data on the last bar the same way  
that a bar would be displayed in a native timeframe chart.

Best regards,
Dennis

On Aug 25, 2009, at 2:51 AM, af_1000000 wrote:

> TJ. You misunderstood me. This is my mistake.Sorry,I was not precise  
> enough.
> I should have asked for the incomplete LAST bar inclusion into the  
> time compression (as an option) rather than including current values.
>
> The post is NOT about elimination time compression from timeframes,  
> quite opposite. The post is about the ability to re-create any  
> higher timeframes charts on a lower timeframe chart.
>
> For the sake of simplicity just assume that we have weekly and daily  
> charts in a layout, one indicator RSI(14) on both charts, and today  
> is Wednesday. If we look on a weekly chart AB displays RSI(14) value  
> on Y axis of the indicator window AS OF WEDNESDAY (13 closes as of  
> previous Fridays and the close of today's Wednesday are used to  
> calculate it).
>
> Now imagine that I wont to get rid of the layout and reproduce  
> RSI(14)from the weekly chart on the daily chart. How to do it ?
>
> I CANNOT use:
>
> TimeFrameSet(inWeekly);
> RSI_Weekly = RSI(14);
> TimeFrameRestore;
> RSI_Weekly_on_Daily_chart = TimeFrameExpand(RSI_Weekly, inWeekly);
>
> because I will get weekly RSI(14)value as of last Friday and not as  
> of today  - Wednesday.
>
> What I am asking for is to add an option (it should NOT be a  
> default) to all timeframe functions to include values of the  
> incomplete last BAR (highest high, lowest low, last value)into time  
> compression. This would require slight modification to the  
> compression processes on higher timeframes, but that is already in  
> place (best example is a weekly chart in the mentioned layout).
>
> Taking values from an incomplete bar has nothing to do with going  
> into the future. The value of the RSI could be below threshold on  
> Friday, above threshold on Wednesday, and back below threshold  
> following Friday. The fact that RSI was above threshold on Wednesday  
> will never be shown on a weekly chart unless someone replays bar by  
> bar (assuming a daily chart is present), but that's how majority of  
> reversals happen (during small fraction of the bar span). I know  
> what I am doing as long as the functionality is available. If people  
> are not sure what they should be doing, they better do nothing.  
> Waiting for bar completion when price changes rapidly means missing  
> majority of reversal reflected in indicators values. Discretionary  
> trading requires watching charts all the time, so elimination of  
> extreme conditions by design does not make much sense. It is the  
> first step to all failures.
>
> I know that some people would like to see continuous changes to  
> higher timeframe indicators based on daily values, but I think this  
> would be too much. Obviously, both methods (traditional and daily  
> values for the current weekly bar)will produce exactly the same  
> result on every Friday (end of weekly time boundary, days beyond  
> boundary are part of the incomplete bar).
>
> If nothing is done, transposing weekly values to the daily level  
> (the same values for every 5 days), eliminating redundancy and  
> adding daily values for the incomplete bar to create a new combined  
> weekly / daily array to calculate weekly indicators at the daily  
> level is NOT a lot of fun.
>
> I hope this time the post is a little bit more clear.
>
> AF
>
>
>
> ------------------------------------
>
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>
>



------------------------------------

**** IMPORTANT PLEASE READ ****
This group is for the discussion between users only.
This is *NOT* technical support channel.

TO GET TECHNICAL SUPPORT send an e-mail directly to 
SUPPORT {at} amibroker.com

TO SUBMIT SUGGESTIONS please use FEEDBACK CENTER at
http://www.amibroker.com/feedback/
(submissions sent via other channels won't be considered)

For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
http://www.amibroker.com/devlog/

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