Support Board
Date/Time: Sat, 23 Nov 2024 21:43:00 +0000
Post From: Feature Request: Momentum Tails
| [2022-04-05 20:10:06] |
| User900285 - Posts: 94 |
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We created a study collection for momentum tails in Sierra Chart by using a few Volume by Price studies on the Chart DOM or Trading DOM. They are displayed in the left side space in the Trading DOM or Chart, where the Volume by Price normally goes. The momentum tails in jigsaw used 8 colors or some form of transparency, and fyi transparency increases CPU usage. So if you want your DOM to be as responsive as possible, it is recommended to not use transparency, even if the impact might be minimal. We have provided 2 study collections, one with the transparency and one without. You will see that we used 4 or more instances of the Volume By Price study set to One Period at End of Fixed Time Length. The momentum tails will be displayed in the left side space of the Trading DOM or chart, where VbP studies normally go. The time periods we selected, we only briefly tested them on a thinner market (MNQ) and this may need to be changed based on your unique use case. We set the time periods to 2, 4, 8 and 16 seconds. The most important settings you will need to adjust for your unique set up are as follows. 1. The bar period of your chart or Trade DOM. This may not work with all set ups for example if you have the bar period set to 1 minute but want 2 second momentum tails on this chart, it is not possible. This study collection works best with the Trading DOM or if you can set the chart to the same period as the Volume by Price that has the shortest period. This is because you cannot set a Volume by Price which is based on a fixed time period to a shorter period than the bar period of the chart. If you set the VbP to a Volume Graph Period Type of One Period at End of Fixed Time Length, with the fixed time length set to 2 seconds. Then you put the bar period of your chart to 1 minute or 16 tick ranges, the VbP will not show 2 second profiles. We are not able to explain why this is the case but we understand the logic. (One method to get around this problem would be to set your chart to the timeframe required for the momentum tails to work and then overlay a larger bar period on the chart using price/study overlay or something else). If you only use a Trading DOM, set the bar period of the Trading DOM to the same interval that is set in the shortest VbP study. In the study collections we provided, it is set to 2 seconds. If your Trading DOM is set to a larger bar period than 2 seconds, these momentum tails will not display correctly. 2. The Maximum Volume Bar Width Percentage. We set it to 100 but some traders have unique use cases or might be using a Chart DOM and need the momentum tails to occupy less space. If you use the left side space for the chart bars or other studies, you will need to change this to a number less than 100 on all instances of the momentum tails. 3. The one setting that made this possible is 'Volume Bar Minimum Width in Chart Bars'. We set it to 100. 4. The colors are yellow but these can be changed to your liking in the subgraphs tab. The only colors that should be changed are the Volume Bars Outline and Fill Colors. In the version with transparency we used transparency values of 0, 25, 50, and 75. In the version with different shades of yellow, we tried to change the colors by a proportional amount. 5. If there is a scenario where you would need to include another volume profile on the chart, you would add that study and then make sure to enable 'Align to Far Right' in the settings for that VbP. Then change the Maximum Volume Bar Width Percentage for each of the momentum tails to a value less than 100 to fit in the other VbP. Date Time Of Last Edit: 2022-04-06 16:09:02
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 MomentumTails.StdyCollct - Attached On 2022-04-05 19:44:41 UTC - Size: 82.48 KB - 699 views MomentumTailsTransparency.StdyCollct - Attached On 2022-04-05 19:44:56 UTC - Size: 82.48 KB - 641 views |