Support Board
Date/Time: Fri, 22 Nov 2024 16:44:39 +0000
indicator based on another indicator
View Count: 147
| [2024-10-07 12:33:13] |
| Boris Libman - Posts: 58 |
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I have a custom indicator that behaves like a static moving average calculated off price of the underlying. I'm looking to have another indicator that calculates bands around the value of this indicator (either +/- or in %). I currently do it using horizontal lines that I adjust manually (the parent indicator doesn't move more than 1-2 times/day at most). I'm for the "horizontal lines" to adjust dynamically from the parent indicator. What is the best way to do this?
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| [2024-10-07 14:11:43] |
| Mercrastius - Posts: 44 |
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Use the bands/envelope study. Set it to be based on your custom indicator, then set the parameters to either percent or ticks. You'll have to experiment with the subgraph draw types to get the appearance you're looking for.
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| [2024-10-07 14:29:40] |
| Boris Libman - Posts: 58 |
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because it's a custom indicator that I'm trying to draw bands around, the bands/envelope study doesn't seem to work, any other ways?
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| [2024-10-07 16:09:09] |
| John - SC Support - Posts: 36221 |
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Since you have the custom study, just add another subgraph, or two, that give you what you want. You have complete control over this within your study.
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| [2024-10-07 16:39:59] |
| Boris Libman - Posts: 58 |
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well the custom study is "inherited", and though it behaves like a static MA, it resets between long/short indicator based on price action. as such, when trying to use it with bands/envelope study, the settings for input need to be toggled from "indicator long" to "indicator short" depending on which cycle it is. if you don't toggle them and it's looking to "long" when the indicator shows "short" the bands are calculated from zero value. can you suggest a workaround?
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| [2024-10-07 17:18:30] |
| John - SC Support - Posts: 36221 |
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Are you saying there are two subgraphs that are part of your custom study and which one is displayed depends on certain factors, but only one is displayed at a time? If this is the case, then you can still use the "Bands/Envelope" study. You would need two copies, one for each subgraph. The trick is that you will only want to use the Percentage offset type, as when a subgraph is not shown, it has a zero value, so this would continue to have a zero value. Whereas if you use an offset, then a band would show as the amount offset from zero, which would not be what you want to display. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-10-07 18:59:24] |
| Boris Libman - Posts: 58 |
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you summarized it correctly, understood, thank you.
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