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Bid/Ask line
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Created: by raven1029 Attachments:1

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Bid/Ask line

  #1 (permalink)
Trading Apprentice
Barcelona + Spain
 
Futures Experience: Advanced
Platform: MC
Favorite Futures: Forex
 
Posts: 2 since Feb 2013
Thanks: 0 given, 0 received

Bid/Ask line

One thing I am missing in MC is bid/ask lines running across the chart. I found a semi-functional indicator (in MC) for TradeStation, you can find it if you search for "Bid/Ask Spread Plot" under Tradestation forum on this site (I cannot post links yet).

My MC EL skills are not up to par yet, maybe someone can fix the indicator to run under MC?
Apparently the request to Multicharts to include the feature has been made couple of times in the past, but the platform does not have it built in, yet. In my opinion, it is a very basic feature common in most charting platforms I have seen in the last 15 years.

I hope someone can help out here. Thank you in advance,

Raven

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,533 since Apr 2013
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raven1029,

how exactly do you want it to look like? MC has a build in indicator called "Bid & Ask" that works in realtime only, but plots the current best bid and ask on the chart. Does this do what you have in mind?

Regards,
ABCTG

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  #4 (permalink)
Trading Apprentice
Barcelona + Spain
 
Futures Experience: Advanced
Platform: MC
Favorite Futures: Forex
 
Posts: 2 since Feb 2013
Thanks: 0 given, 0 received

ABCTG, thanks for the reply. "Bid & Ask" built-in indicator functions a bit differently, as it plots historical ask/bid. What I want is real-time bid/ask lines that are drawn from the last bar to the right y-axis (price). Let's say my bar chart starts 10 bars from the right y-price axis, then this indicator would draw two horizontal lines, each 10 bar long. As such, they would depict the real time bid/ask spread.

There is a very accurate post about the same issue on this site, under Tradestation forum. The author of that post included images that show it very well, see if you can google "Bid/Ask Spread Plot tradestation" and it will come up as the top result.

Thank you again!

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  #5 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,533 since Apr 2013
Thanks: 231 given, 855 received
Forum Reputation: Legendary

I don't have the function "DecConvPip" cbritton uses within his code, but here is a version modified to
work within MC. The only changes are that DecConvPip is exchanged with dividing the spread by one tick. This works fine for futures, we might need to adjust this for currencies though. All the credit goes to cbritton for creating this indicator.


 
Code
Vars: intrabarpersist spread(0),
      intrabarpersist spacing(-1), 
      intrabarpersist plotsize(0),
      OneTick(MinMove/PriceScale),
      loop(maxbarsforward),
      k(0);

if Value1 = 0 then
    Value1 = Text_New_s(date, time_s, Close * 2, "  ");
Plot3(c, "Text");        
Text_SetStyle(Value1, 2, 0);
Text_SetColor(Value1, getPlotColor(3));    

If LastBarOnChart_s then begin
        
    Spread = (insideAsk - insideBid)/(OneTick);

    if Value1 > 0 THEN BEGIN
        Text_SetString(Value1,"" + Numtostr(Spread,1));
        Text_SetLocation_s(Value1, Date, Calctime_s(time_s,2.5), Low - 2*(OneTick));
    end;  
    
    for k = 0 to loop begin
          Plot1[-k](insideBid, "Bid");
          Plot2[-k](insideAsk, "Ask");
    end;
    noplot(1);
    noplot(2);
    
end;
noplot(3);
Regards,
ABCTG

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  #6 (permalink)
Trading Apprentice
Haren Groningen
 
Futures Experience: Intermediate
Platform: Multicharts
Favorite Futures: DAX
 
semper's Avatar
 
Posts: 3 since May 2016
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Simple price line, with spread visible

I think what raven 1029 meant, was two lines like the ordinary Ask and Bid lines in say MT4 or Protrader.

Like the yellow lines in the images, whereas the top yellow line is the current pricemarker.

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