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dear friends, i want create different types of moving averages taken from daily chart to be run on intraday charts,my basic assumption behind these moving averages is to identify the trend strength of trend exit and entry this is very simple indicator but i think will be very powerful to help us in intraday trading.here are my rules for it that can compiled into an indicator.
1)moving averages of daily highs for n periods
2)moving averages of daily highs + diff of open and close for n periods
3)moving averages of daily lows for n periods
4)moving averages of daily lows - diff of open and close for n periods.
but plz do remember is that these indicators are based on daily charts which will be applied to intraday frame work.This will i think can be of great help to intraday traders and swing traders.Experts plz give suggestions to improve the basic idea and i urge big mike and roonius and others to make this indicator for big mike forum.
thanks,
joy.
Can you help answer these questions from other members on NexusFi?
I don't think you can make indicators that track across multiple time-frames. Only strategies can do that. However I believe that is do-able in NT7 but not in the current NT 6.5 release.
I might be wrong on this, but I believe as a workaround you can use the MTF (multi time frame) indicator posted here a while back to create an indicator which will display in the same panel as those bars. So you could have a 5 minute chart with a 288 multiple (= 1440 bars = daily).
As Shodson said above, though, in theory with NT7 you will be able to do this easily.
There is also the CurrentDayOHLC indicator which perhaps you could tweak to remember each days closing OHLC in a data series and from that plot your ideas. There may also be some existing pivot indicators which keep track of previous day OHLC's that you could use.
I'm not a programmer, but I have seen a indicator that will plot a virtual bar on a chart, example virtual 5 min. bar on a tick chart, In that programming I have been told that it is possible to code an indicator of the virtual, c,o,h, l. and therefore a moving average on any of those data points.
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.
More info and the indicator itself:
Virtual Bars Indicator|Move the Markets (
