Support Board
Date/Time: Sat, 15 Mar 2025 16:15:03 +0000
Pitchfan drawing tool
View Count: 1691
| [2018-01-28 18:39:40] |
| Sierra2017 - Posts: 8 |
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Hello, I was wondering if Sierra has the Pitchfan drawing tool (you can find it on Tradingview chart). If no, please transfer this recommendation to you development team. thanks |
| [2018-01-29 09:47:00] |
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Sierra Chart does have a Pitchfork drawing tool: Chart Drawing Tools: Pitchfork (Median Line Tool) | Pitchfork - Schiff Median | Pitchfork - Modified Schiff And you can add additional Levels to it. So the answer to this is yes. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-07-22 10:17:00] |
| Techotomy - Posts: 104 |
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How do you modify the pitchfork to make a pitchfan? I tried every permutation of options available and the two don't seem comparable. The pitchfork lines extend as parallel offsets of of the median line, where adding more levels is like adding more prongs to the pitchfork, but the pitchfan has non-parallel lines that extend from the inital median point, where adding more levels is like adding more sticks to a fan. I'd also love for SC to support pitchfans.
Date Time Of Last Edit: 2022-07-22 10:21:57
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| [2022-07-22 13:38:28] |
| JohnR - User831573 - Posts: 320 |
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I believe this is not possible with SC as it is currently implemented. What I have asked for multiple times, but has not reached a high enough priority is to implement what I came to know as a dynamic gann fan, which seems to be what you are asking for. I can provide the logic to do this if the development team is interested in taking this on. It really is a very simple set of calculations that would be minimal changes to the current pitchfork. You can name it pitchfan or dynamic gann fan, or whatever SC dev chooses to call it. All that is required is instead of drawing parallel liines to the center line, all lines start @ original of pitchfork A and create a fan, based on % of distance from B to C and # of days from origin. ================================================ To recap what we’re attempting to do: 1. identify A-B-C formations based on turning points. V formations for support levels, inverted V formations for resistance. 2. use either the highest or lowest close for A. 3. measure percentages of the move from B to C in both time and price to give an exact time and price coordinate for each of the 6 levels. 4. project each price forward to give us a price level for the current date. If the math is confusing to you, don’t worry about it; as we get into the next section you'll see it is easy. The Formulas We’re now ready to apply the Gann ratios using mathematical formulas. Taking one of the V formations, these formulas are used to find an exact point (let's call it P) along an imaginary line connecting B and C. Point P will be 37.5%, 50%, 62.5%, 75% and 100% of the move from B to C in both price and time. Here are the ratios again: LEVEL GANN RATIO DECIMAL EQUIVALENT 1 3/8 .375 2 4/8 .500 3 5/8 .625 4 6/8 .750 5 7/8 .875 6 8/8 1.00 For Level 1, we want to calculate 37.5% (.375) of the move between turning points B and C, in both time and in price. This will give us a new set of x,y coordinates, which we could call point P(time,price). Level 2 will be 50% of the move from B to C, etc. The identical formulas must work equally for both V formations (used to calculate support levels) and inverted V formations (used to calculate resistance levels). They must also work in any market and any time frame (daily data, weekly or monthly). Here are the formulas used to calculate P(time,price) for each level Level 1 P(time) = .625 C(time) + .375 B(time) P(price) = .625 C(price) + .375 B(price) Level 2 P(time) = .5 C(time) + .5 B(time) P(price) = .5 C(price) + .5 B(price) Level 3 P(time) = .375 C(time) + .625 B(time) P(price) = .375 C(price) + .625 B(price) Level 4 P(time) = .25 C(time) + .75 B(time) P(price) = .25 C(price) + .75 B(price) Level 5 P(time) = .125 C(time) + .875 B(time) P(price) = .125 C(price) + .875 B(price) Level 6 P(time) = B(time) P(price) = B(price) Let’s see how these formulas work with the short-term a-b-c formation we selected earlier. Here are the coordinates for that V formation below - A(0,114) is point A bar offset = 0 price = 114 B(4,111.25) is 2nd point 4 bars later and price is 111.25 a(0,114) b(4,111.25) c(7,115.88) To find point P for Level 1 we apply the formula as follows P(time) = .625 C(time) + .375 B(time) P(price) = .625 C(price) + .375 B(price) P(time) = (.625 * 7) + (.375 * 4) = 5.88 P(price) = (.625 * 115.88) + (.375 * 111.25) = 114.14 P(time, price) = P(5.88,114.14) These coordinates for point P represent the exact point which is 37.5% of the move from b to c in both price and time. If you were to connect b and c by drawing a straight line between the two swing points on a chart, you could put a dot along that line at market day 5.88 (counting from day 0 at swing point a) and at a price of 114.14 and that would indicate the point which is 37.5% the total move from b to c. Below is the calculation part of my implementation I did in MultiCharts years ago capturing mouse clicks. for kk = 0 to 8 begin { examine each level - this is the angles of "fan" to be drawn- I chose 8 as the max # of levels of fan} fbb = bb[1,ii] * DGL_Levels[kk] + bb[2,ii] * (1 - DGL_Levels[kk]); // bars for point using B & C fvv = vv[1,ii] * DGL_Levels[kk] + vv[2,ii] * (1 - DGL_Levels[kk]); // price for point using B&C pvv = TLValue(vv[0,ii],bb[0,ii],fvv,fbb,currentbar); han[ii,kk] = TL_New(dd[0,ii],tt[0,ii],vv[0,ii],date,time,pvv); TL_SetExtRight(han[ii,kk],TRUE I would be willing to sign an NDA and take a try at implementing it and return the code and all rights to SC. Or SC could hire me as a contractor for $1.00 and they would own the code as I would work as a contractor to implement this project. What do you say? JohnR |
| [2022-07-22 17:52:12] |
| John - SC Support - Posts: 38678 |
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Have you looked at the Gann Fan and Fibonacci Fan drawing tools? Refer to the information here: Chart Drawing Tools: Gann Fan For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-07-22 20:31:44] |
| Techotomy - Posts: 104 |
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The Dynamic Fan would be great. The Gann Fan and Fib Fan don't allow you to connect 3 points like the pitchfan, only 2, but if there was a tool I'd bother developers with, it would be the Gann Square in TradingView, but either is better than not.
Date Time Of Last Edit: 2022-07-22 20:32:04
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