To assist other Multicharts users, I thought it would be beneficial to have a this thread where others could share any Hints, Tips & Gocthas that they have discovered with Multicharts.
Tip 1. (Study / Indicator creation)
Multicharts has two loops that things such as Indicators, functions and signals are processed on.
1) The tick loop
2) The bar completion loop
What this means, is that unless a tick comes in , then none of the loops will be processed. (Ticks make the bars)
As an example of this potential problem. When I created the "NWT Bar Timer" I noticed that sometimes the final 10second reminder was not firing. This was because there were no ticks coming in , in the last ten seconds of the bar. Unless a tick comes in, then none of the studies functions or signals gets processed.
This is why it is very difficult to make time based calculations, because the loops do not happen at a specific rate but happen at the rate the tics come in at.
Tip 2. (Study/Indicator usage)
Studies (Indicators) that rely on being processeed bewteen each bar, as in the above "NWT Bar Timer" used on a 5min chart, require the "Update on every tick" property to be set.
Tip 3. (Signals)
Buy/Sell signals are only valid for the current/next bar. As an example
Buy("LE") 1 contract next bar at High+1 on stop;
This Buy signal is only valid for the next bar. If you had intended this price level to be valid for the rest of the day, then the code needs to be written differently. Ie do not use the High but create your own variable and ensure the Buy is processed on every loop.
If my setup=long then
MyLongEntry = High+1;
I f MarketPosition = 0 then
Buy("LE") 1 contract next bar at MyLongEntry on stop;
The following 2 users say Thank You to NW27 for this post:
First, thank you for creating this thread. Seems useful to me. Regarding your first Tip - for times like this we created the RecalcLastBarAfter(seconds) keyword, which lets you force a calculation based on a timer, as opposed to waiting for a tick to come in. You should experiment with this keyword to see how it can improve the timeliness of your calculations. This would be the thrid, time-based, 'loop'.
MultiCharts - Raising the Trading Standard.
Please send me a private message if you have any further questions about MultiCharts
The following 3 users say Thank You to MultiCharts for this post:
I wonder if the attached along with the code shall be under this thread?! I've found it useful in my development efforts.
I've found the original code as a public domain and modified it a little bit for my liking.
It is a visual presentation of current day's equity while trade in progress live and can be used for back testing as well.