The Midpoints study tracks the extremes of the day or a custom session between a start and end time. Bases on the high and low extremes, three Midpoints are calculated:
1. daily midpoint = (Session High + Session Low)/2
2. the midpoint between the session extreme high and the daily midpoint
3. the midpoint between the session extreme low and the daily midpoint
The study comes with three color inputs and the plots change their color depending on the value of the bar close compared to the plot value.
Description of Inputs:
UseTime:
False = StartTime and EndTime will have no effect and the High and Low will be tracked for the complete day. If true, High and Low will be tracked according to the StartTime/EndTime settings only.
UpColor:
is used to color the specific plot, if Close > Plot Value
DnColor:
Close < Plot Value
MatchColor:
Close = Plot Value
Round2Tick:
Study will round the MidPoints to the nearest tick if this input is true. If false the study will not round the MidPoints.
The study was not designed to use a session spanning over two calendar days, like an overnight Globex session. In case you use the UseTime input and a StartTime later than the EndTime, you might run into problems. The study would need to be adapted to properly work on overnight sessions.
July 17th, 2013
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In the comments for the Open Trendline indicator treydog999 asked for a version that is able to capture the Globex open. This version is a more flexible indicator when it comes to the time open is captured.
It has an input called SessionBegin, where you can setup your own start time.
On the screenshot you can see how with using two instances of the indicator it displays both Globex and Floor open. When you run into troubles with indicator there is a good chance that this caused by the session settings your are using for the chart, but instead of using SessionStartTime(1, 2) for the SessionBegin you can use a time input as well.
May 26th, 2013
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The indicator simply displays the first bar's open for every new date (comparable to the indicator OHLC Yesterday). This indicator was requested in the "Want your EasyLanguage indicator created, free?" thread.
the indicator request was to base it on the OHLC Yesterday build in indicator. This indicator will take the open bases o
n the date (open of the first bar of the day). I can do a modification that uses sessions for the open.
May 22nd, 2013 03:31 PM treydog999 I am having problems with it. I want to use it for the open of the globex session for 6E and all its doing is posting th