Richard from MoveTheMarkets has created a nice indicator that may benefit a lot of people trying to incorporate MTF into a minimalist screen/chart view.
I'm having a little problem, tho. For some reason the 30 min blocks don't start until 9:30, but as you can see from the screenie, I have it set at 8:30.
Hard to tell from your screenshot, but it doesn't look like you have much data on your chart, right? All indicators need a few bars to start up and get oriented. See attached with one of my charts scrolled all the way to the left, for example. To start at 8:30, it would have to "see" bars before 8:30, and then notice that 8:30 had passed.
Also note that 8:30 isn't a starting point as much as it is a synchronization point... in other words, say for some reason you want bars every 37 minutes. That's fine, but you also want a fresh bar at the NYC open every day, so you cut off the bars and start fresh every time 8:30 central rolls around. It also helps when gappy data gets the algorithm confused... at least at the next session the bars will right themselves again.
The following user says Thank You to Richard for this post:
Richard, can you make the open of the first virtual bar synchronized with the close of the last bar of the previous session. A no gap chart is what I am after.
Thanks for the suggestion. Ok here's a version with a gapless setting you can set to true if you like. If true, it will set the open of a new session's first bar equal to the previous closing bar (screenshot attached).
This version also has a few bug-fixes on the timing as well for people that only watch day sessions (and hopefully I didn't introduce any bugs in the process!), so in general if you like this indicator it's probably best to upgrade.
ooohhh... I see what you mean now. Well, you could track an offset that you'd apply to all the subsequent bars, and modify the offset each session... and then adjust the plot mechanism so that it scales the visible range to plot on-screen at all times... but at that point the virtual bars and the real ones could be at very different prices (especially if your chart has several days of data on it, with several gaps to adjust away). I'd be willing to help anyone that wanted to undertake that change if they get stuck, but it's beyond the scope of what I'm trying to accomplish.
Three nights in a row I've made my daily targets in the early am making it harder and harder for me to pay attention in the official sessions. Coding wars....
I've recently discovered this tool that expands observation in an easy manner. My wish is to combine it with range and tick bars.
The benefits from that is that I can control risk more in a quantified way, but also get the minute frame that can give me certain confirmation or warnings. Such as gaps and wide range bars.
The only problem is that it doesn't seem to work properly. I've compared it with a minute chart, and it's not mirroring it. I've posted a picture, the chart on the left is a 5 minute chart, and the chart on the right 377 tick chart. I've made the tick candles transparent in order to see only the virtual bars on the right chart.
Why is it not a perfect match? Is there something wrong with my settings or do they simply not work properly? Is there someone out there that can throw some light on this?
Thank you in advance!
We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now. Past performance is not indicative of future results.
/George
Thanks to Mike for posting this - this has got to be by far my new favorite indicator. It is invaluable for reading price action across multiple time frames and mentally synchronizing what you are seeing...
George, my first guess is this works best on time charts and the time frames should be multiples of the base (fastest time) chart. Otherwise how could you accurately plot the time bar close in the middle of a tick bar. How about a 3 minute bar inside a range bar that takes 5 minutes to complete? Dan
The following user says Thank You to eDanny for this post:
Hi George, I think eDanny has a point. It is not possible to expect that a 377 tick bar will form exactly within a minute.......so than you have a situation where 1st bar has time delta of say 1:30 and 2nd 3:40 so delta1 + delta2 not equal to 5 min.....and therefore the code cannot group them how you wanted......this will be a problem with any non-time based charts..........either group non-time based bars as "GroupingByMinute=FALSE" or switch to time based bars.......
The following user says Thank You to zikonc for this post:
Hi, sorry I didn't see the question for so long. Anyway, they decide where to cut off virtual bars on chart bar boundaries. So, if you want 5-minute groupings, you'll get the closest virtual bar to 5 minutes that you can get in terms of your chart bars. Same thing if you group by volume or any of the other grouping options... it gets as close as it can, without splitting one of your chart bars.
As with all of my indicators, I wrote what I personally wanted to see... someone determined to get an exact 5-minute overlay would write a slightly different indicator, and watch every tick against the system clock. It can be done, but it's not what this indicator does.
The following 2 users say Thank You to Richard for this post:
Tried to download and my computer (Norton) blocked as malicious web site. Has anyone downloaded this or is there another location to get this from?
Thanks
I am looking to build a composite-virtual bars indicator, and was trying to look at Richard's VBR indicator of the current thread. However, this seems to be missing and all links are dead.
He has one of the few blogs I read.
sometimes, but I think it turned out well.
