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Roy:
Thaks for all of the detailed help. I think I understand the indicator. I changed the "default end date" and now it ends with "today" as the last date.
Harry
--- In equismetastock@xxxxxxxxxxxxxxx, "Roy Larsen" <rlarsen@xxxx> wrote:
> Harry
>
> > Really strange!
>
> Thanks for going through the exercise anyway. Not sure why my count was off
> but it's no biggie.
>
> I'll include comments here that I was also promted for on the MetaStockusers
> group, and attach charts also unless.
>
> > Finally I used the indicator on a stock. I first noticed that one of the
> inputs was "Scaling % in Parameter Box". What does this mean? Then I tried
> to interpret the series of horizontal lines, and I quickly realized that I
> had no idea what this indicator was designed to show. Can you explain what
> the purpose of the indicator is?
>
> Scaling allows the histogram bars to be lenghened or shortened
> proportionately so that the logest bar is the required percentage of the box
> width, or if scaling is disabled each bar will be show the percentage (box
> width being 100%) volume for each price range.
>
> > And finally, I was wondering why the Indicator's Last Date does not
> default to Today's date?
>
> The original indicator (possibly not posted to this list) did just that, and
> the box size was determined by number of bars rather than date. Someone
> requested an indicator that could be moved around a chart and have a start
> and end date allows that. It could just as easily be a start and end bar.
>
> To have the indicator always finish at the hard right edge just change the
> default for the end year to 2004.
>
> These are two separate indicators, one for US date format users (mm/dd) and
> the other for British date format users (dd/mm). The differences are pretty
> obvious and shouldn't need explanation once pasted separately into the
> indicator builder (to create two indicators) and dropped onto a chart.
>
>
>
> The purpose of the indicator is to show the distribution of volume (by
> price) over a selected period of any EOD chart. This is done by dividing the
> price range for the selected period into 10 sub-ranges, and then summing the
> volume for each sub-range. The volume is displayed as a horizontal histogram
> with one bar placed in the centre of each price sub-range. The histogram is
> boxed on three sides, top and bottom showing the extremes of CLOSE for the
> period, and the left (almost) vertical line showing the starting bar of the
> period being checked.
>
>
>
> The first draft of this indicator was tied to the hard right edge of the
> chart and allowed the user to specify how many price bars to include in the
> "volume by price" calculation. One or two people suggested that it would be
> of more use if it could be moved to different areas of a chart, selected by
> date, and that's what these two examples do.
>
>
>
> There is a "scaling" feature that can be used to extend the highest volume
> bar for the full width of the box, where every other bar is increased in
> proportion. The same option caters for setting the volume bars to the actual
> percentage of total volume. this is purely cosmetic to allow for different
> user preferences.
>
>
>
> One possible use would be to confirm support/resistance areas based on
> relatively high (or low?) volume in a particular price range. There is no
> way this can be used in an exploration or system test because of the
> extensive use of the LastValue() function to create the various line
> displays. It's not beyond the realms of possibility that a system test (non
> visual) version could be created but to date feedback has been low
> suggesting little interest in "volume by price" tools.
>
>
>
> The attached gifs should give you some idea of how to set up and use the
> indicator. The 12 bar version (not posted on this forum as far as I can
> recall) has not been adapted to use start and end date settings, and to do
> this would probably require the removal of the scaling option. The 20
> variable limit is a major factor in limiting the number of volume bars
> (price sub-ranges) than can be displayed.
>
>
>
> Roy
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