Support Board
Date/Time: Wed, 27 Nov 2024 04:47:01 +0000
Inaccurate price levels when using Period OHLC-variable period study on a range bar chart
View Count: 347
| [2023-09-15 10:13:06] |
| User588795 - Posts: 5 |
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Hi SC, I'm trying to use the Period OHLC-Variable Period study on a 8-tick range bar chart, with a 30min time period setting for the study. I find that the open and close price levels marked by the study (and to a lesser extent the highs & lows as well) are rarely accurate - this is determined by comparing to the olhc on a 30min candlestick chart. The discrepancies are smaller in degree when I switch to a shorter range bar (e.g on a 2-tick range bar), and vice versa ie larger discrepancies on a higher-tick range bar. I surmise that the mismatch of the two different time scales - between the time-variable range bar and the time-specific graph type that this study is likely designed for - may potentially cause issues when using this study in this manner. Am I using this study correctly? I'd be grateful if you could improve the study, or to suggest another method which would help me do chart this accurately, ie. allow me to mark out a time-interval ohlc (eg a set of new OHLCs every 30 mins) on a range bar chart. For clarity, attached is the settings I'm using for the study. Thanks for looking into this. Date Time Of Last Edit: 2023-09-15 10:14:10
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 period ohlc settings.jpg / V - Attached On 2023-09-15 10:07:06 UTC - Size: 122.22 KB - 78 views |
| [2023-09-15 15:39:36] |
| John - SC Support - Posts: 36309 |
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You can not do what you want this way. The studies are based on the bars, and since you are wanting information for a particular time period, you can not use a Range Bar chart for this. You would have to have a separate chart that is time based and use the Period-OHLC on that chart (and ensure the Bar Period is evenly divisible into the period you want) and then overlay the Period-OHLC to the Range chart using the "Study/Price Overlay" study. Refer to the following: Study/Price Overlay Study For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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