New to Multicharts and easy Language Trade the ASX in Australia. Was wondering if some one could assist me with some easy Language code.
Basically would like to be able to have a horizontal line on the first 30 minute bar high and 30 minute bar low which i could then go down to a 5 minute time frame and the horizontal lines would still be there based on the first 30 minute bar high and 30 minute bar low. Any assistance appreciated..
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The following user says Thank You to Big Mike for this post:
Mike was kind enough to code the indicator above- thanks. The indicator above highlights the High and Low of the first 30,20 etc minute bar depending the time you place in the input.
I have been trading the 30 minute bar for some time now with some success and wish to turn it into a trading system and automate some of it if possible. If anyone can help with this would be fantastic my Easylanguage has improved but limited at this stage.
Radar screen/Real time market scanner that: Long: Goes Green when the High of the second 30 minute bar closes above the first 30 minute bar.
Radar screen/Real time market scanner that: Short: Goes Red when the Low of the second 30 minute bar closes below the first 30 minute bar
Automation Entry Rules:
If High of second 30 Minute closes above the high of the first 30 minute bar then enter at Market, Stop is placed on low of first 30 minute bar.
If low of second 30 minute bar Closes below the low of the first 30 minute bar then enter at Market, Stop is placed on the high of the first 30 minute bar.
I don't know how the ASX behaves, but I hope you back and forward test this rigorously before you trade it live. You might also try to optimize your time period, 30 minutes might not be the way to go.... And you might want to add in some other filters...
But the opening range can be very useful, I will say that much...
The following user says Thank You to Lornz for this post: