Sierra Chart - Technical Studies Reference

Technical Studies Reference

This reference contains descriptions and instructions for the studies/indicators in the program. For more detailed information about the studies, refer to the many books available on technical analysis and technical analysis information on the Internet. The Sierra Chart Book Store is a good source for books. There is also a good resource on-line at www.tadoc.org.

See the Chart Studies documentation page for complete information on applying, setting inputs for and adjusting settings for the chart studies described here.

The default input values are not necessarily the recommended or optimized values to use.

Worksheet Study/System/Alert

[link]

See the Creating Custom Studies, Systems and Alerts documentation page for complete instructions to use this study.

1/P

[link]

Formula: 1 divided by the price graph bar. This is used for currencies. For example if currency chart is GBP per USD, then it will be converted to USD per GBP. Or the other way around.

Inputs

Accumulation / Distribution

[link]

Williams Accumulation/Distribution Index.

Inputs

Accumulation / Distribution Flow

[link]

Cumulative sum of (close - open) / (high - low) * volume.

Inputs

AC/DC Histogram (Bill Williams Acceleration/Deceleration Oscillator)

[link]

This study calculates the Bill Williams Acceleration/Deceleration Oscillator.

Formula:
AvgDiff = Avg(InputData,Length2) - Avg(InputData,Length1)
Avg(AvgDiff - Avg(AvgDiff,Length4), Length3)

Inputs

Advance Decline Line

This calculates the advance decline line from a symbol that indicates advancing issues minus declining issues.

Data service symbols:

ADX

[link]

Average Directional Movement Index. This is calculated according to the Welles Wilder formulas.

Inputs

How ADX is calculated:

Given an open, high , low, close data for a graph. The True Range(TR), defined as the largest of 1) current high minus current low, 2) current high minus previous close, and 3) previous close minus current low, is calculated.

+DM is calculated as the largest part of the current range that is outside of the previous range if it is up.

-DM is calculated as the largest part of the current range that is outside of the previous range if it is down.

n equals DX Length.

A summation of the True Range values (STR) over n periods is calculated, by the formula:
current STR = Previous STR - (Previous STR/n) + TR.

A summation of the +DM values (+SDM) over n periods is calculated, by the formula:
current +SDM = Previous +SDM - (Previous +SDM/n) + (+DM).

A summation of the -DM values (-SDM), over n periods is calculated, by the formula:
current -SDM = Previous -SDM - (Previous -SDM/n) + (-DM).

The Plus Directional Indicator (+DI) is calculated by dividing +SDM by the True Range(STR) and rounding the result.

The Minus Directional Indicator (-DI) is calculated by dividing -SDM by the True Range (STR)and rounding the result.

The absolute value (DI DIFF) is calculated as +DI minus the -DI.

Similarly DI SUM is equal to the Sum of +DI and the -DI.

The Direction Movement Index (DX) is calculated by dividing the DI DIFF by the DI SUM.

The ADX is calculated by smoothing the Direction movement Index(DX) with a Wilder's Moving Average of length set by DX Mov Avg Length.

ADXR

[link]

Average Directional Movement Index Rating. This is calculated according to the Welles Wilder formulas.

Inputs

How ADXR is calculated:

The ADXR is calculated by adding the current ADX to the ADX n periods ago and dividing the result by 2 and rounding the result. Where n equals ADXR Interval.

ARMS Ease of Movement

[link]

ARMS Ease of Movement calculates the Arms' Ease of Movement Value (EMV).

Inputs

Aroon Indicator

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This study calculates and displays the Aroon Indicator.

Inputs

Aroon Oscillator

[link]

This study calculates the difference between the Aroon Up and Aroon Down values from the Aroon Indicator.

Inputs

Ask Volume

[link]

The Ask Volume study displays the ask volume. Depending upon the data or trading service you are using, you may not receive historical AskVolume when historical data is downloaded from the service. Not all services will provide this. AskVolume is the volume of trades that occurred at the Ask price or higher.

Automatic Trendlines

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This study will draw a trendline along the highs and a trendline along the lows over the Length bars at the end of the chart.

Inputs

Average of 2 Subgraphs

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This study calculates the average of two subgraphs from the same or different studies on the chart. The studies to reference are set with the Input Study 1 and Input Study 2 Inputs. After setting these inputs to the studies that you want to use in the calculation, set the Study 1 Subgraph and Study 2 Subgraph Inputs to reference the specific Subgraphs within those studies that you want to average.

Inputs

Average True Range

[link]

This study calculates the True Range of the bars and a moving average of those true ranges.

Inputs

Awesome Oscillator / Bill Williams AO

[link]

This study calculates the Awesome Oscillator. By using the default settings it determines market momentum (the second of five market dimensions) at a given time on the last 5 bars, comparing them to the momentum on the last 34 bars.

Formula:
Median = (High+Low)/2
AO = MovAvg(Median,MovAvgLength1,Type)-MovAvg(Median,MovAvgLength2,Type)

Inputs

Bar Difference

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This study calculates the difference between Input Data input 1 and Input Data input 2.

Inputs

Bar End Time

[link]

This study shows the bar ending time for time specific bars in an Intraday chart. It does not work properly with Tick, Volume or Range charts. By default, it has no visible subgraphs. Instead, you will look to the Window >> Tool Values window to see the values.

Inputs

Bid Ask Volume Ratio

[link]

This study calulates the Bid Ask Volume Ratio. It is calulated as follows:

TotalVolume = BidVolume + AskVolume;
Ratio = 100.0f * (AskVolume - BidVolume) / TotalVolume;
MovingAverage (Ratio)

Inputs

Bid Volume

[link]

The Bid Volume study displays the Bid Volume. Depending upon the data or trading service you are using, you may not receive historical BidVolume when historical data is downloaded from the service. Not all services will provide this. BidVolume is the volume of trades that occurred at the Bid price or lower.

Bid Volume vs Ask Volume

[link]

This study displays the volume of trades that occurred at the ask and bid prices as individual volume bar lines. Each column is the bid and ask volume for the time period of the underlying bars.

BID trades are shown as negative volume and ASK trades as positive volume.

Inputs

If Use Time and Sales is set to No, then Bid Volume and Ask volume is read from the chart data file. If you are using the chart data file, then you need to use the new SCID file format. By default the SCID file format is used for new files. To see what format you are using select Edit >> Adjust Data and look at the extension at the end of the file name displayed on that window. If you are using the old .MND format, then you can convert to new format by selecting File >> Convert .mnd to .scid. Before, you try converting to a SCID file be sure you disconnect from the data feed.

Bid & Ask Depth Bars

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This study creates candlestick bars below the main chart region on the chart based upon the total Bid and Ask Market Depth data. This is the formula: Ratio = ((Total Ask Depth - Total Bid Depth)/ (Total Ask Depth + Total Bid Depth))*10. Total Ask Depth and Total Bid Depth are calculated every time there is a change with market depth. This creates a snapshot of Total Ask Depth and Total Bid Depth. The snapshots are then used in this formula. The Bid & Ask Depth candlestick bars display the highest and lowest values of the calculated Ratio for the time duration of the chart bar.

For the Bid & Ask Depth Bars study to work, it is necessary to enable some options.

Select File >> Data/Trade Service Settings on the menu. Enable the Maintain Time and Sales and Store Bid and Ask Data options.

Select Chart >> Chart Settings on the menu. Enable the Start Market Depth Updates option.

On the Subgraphs tab of the Settings window for this study, the color settings for the first 4 subgraphs control the candlestick colors. You can also choose another Graph Draw Type such as OHLC Bar.

Bill Williams AC

[link]

Inputs

Bill Williams Alligator

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Calculates and displays the Bill Williams Alligator study.

Inputs

Bill Williams Fractal Signals

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Displays the Bill Williams Fractal Signals.

Inputs

Bill Williams MA

[link]

Inputs

Bollinger Bands

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Bollinger Bands are plotted at standard deviation levels above and below a moving average. Since standard deviation is a measure of volatility, the bands are self-adjusting, widening during volatile markets and contracting during calmer periods.

Inputs

Bollinger Bands: %b

[link]

%b is a study related directly to Bollinger Bands. It is a measure of where the last price is in relation to the bands. Bandwidth is given by the following formula:

%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Inputs

Bollinger Bands: Bandwidth

[link]

Bandwidth is a study related directly to Bollinger Bands. It is a relative measure of the width of the bands. Bandwidth is given by the following formula:

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band

Inputs

Candlestick Patterns Finder

[link]

For complete information please refer to the Candlestick Patterns Finder documentation.

Chaikin Money Flow

[link]

The Chaikin Money Flow compares the closing price to the daily high-low range to determine how much volume is flowing into, or out of, a security, and then it compares this result to the total volume. It was developed by Marc Chaikin and is similar to the Chaikin Oscillator.

Inputs

Chaikin Oscillator

[link]

No information is currently provided.

Inputs

Chande Momentum Oscillator

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Calculates and displays the Chande Momentum Oscillator.

Inputs

Chikou Span

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Calculates and displays the Chikou Span.

Inputs

Chop Zone

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This study is used by the Woodies CCI system. For more information, see this support board subtopic.

Closing Lines - Weekly

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Draws horizontal lines at the price level of the closing time you specify. There is a separate line for each day of the week that extends forward up until the same day in the next week. This study is for intraday charts.

Inputs

Color Bar Based On Above/Below Study

[link]

This study compares the selected Input Data element (Open, High, Low, Last...) of the main price graph to the selected Study Subgraph (this is the study subgraph being referenced by this study). If the Input Data element is above the Study Subgraph value at the same bar, then the entire main price graph bar is colored this study's Primary color (the first color button of the Color Bar subgraph). If the Input Data Item is below the Study Subgraph value at the same bar, then the entire bar is colored the study's Secondary color (the second color button of the Color Bar subgraph). If the values are equal, then the bar is not colored. For this study to work correctly, the Color Bar subgraph Draw Style must be set to Color Bar.

Inputs

Color Background Based on Alert Condition

[link]

Please refer to the Color Bar Based on Alert Condition section below.

Color Bar Based on Alert Condition

[link]

The information in this section applies to both the Color Bar Based on Alert Condition and Color Background Based on Alert Condition studies.

These are very powerful studies that color the bars or the chart background according to whether or not the specified Simple Alert Condition formula is TRUE for the corresponding bar. For information on how to define and set a Simple Alert Condition formula, please see the Alert Conditions and Scanning page.

The Simple Alert condition options for an alert condition: Reset Alert Condition on New Bar, Alert Only Once per Bar, do not apply with this study. Evaluate on Bar Close does apply.

One good use of this study is to test an Alert Condition formula. In this way you can instantly and clearly see if your Alert Condition formula works as expected because the bars or background will be colored at the bars where it is true. Alert Condition formulas can sometimes be complicated to resolve problems with. It's recommended that you use a step-by-step process to create a formula whereby you start simple and then add to it. The very first formula you should use to simply see how this study and how formulas work is =1 or =TRUE. This will color the bars or background in the chart and then you can go from there to a more advanced formula.

Coloring Bars Based on An Alert Condition from Another Study

To change the color of the main price graph bars at the corresponding location where a Simple Alert Condition on another study, is TRUE, please follow these steps:

  1. Add the Color Bar Based on Alert Condition study to the chart.
  2. Set the Use Alert Condition From... Input to the study name that you want the Color Bar Based on Alert Condition study to use the Simple Alert condition from.
  3. On the Subgraphs tab set the color for the Color Bar (SG1) subgraph to a unique color.
  4. Make sure that the Draw Style is Color Bar, which is the default.
  5. Press OK. Press OK.
  6. At this point, the corresponding bars where the Alert Condition formula is TRUE, from the study you are referring to, will be colored with the color that you set.

Inputs

Color Bar Based on Slope

[link]

This study colors the bars according to whether or not the subgraph of the study that this study is Based On has a positive or negative slope. The primary subgraph color is used when the slope is positive and the secondary subgraph color is used when the slope is negative.

Inputs

Color Bar HH/LL

[link]

This study will color bars based on whether or not the current bar's high is higher, or the current bar's low is lower, than the previous bar. The primary subgraph color will be used if the current bar's high is higher, and the secondary subgraph color will be used if the current bar's low is lower. If both the high and low are higher and lower, respectively, the average of the two colors will be used to color the bar.

Color Bar Open/Close

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This study colors bars based on whether the bar closed higher or lower than it opened. The primary subgraph color is used when it closes higher, and the secondary subgraph color is used when it closes lower than it opened.

Commodity Channel Index

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The Commodity Channel Index (CCI) measures the variation of a symbols price from its statistical mean. High values show that prices are unusually high compared to average prices, whereas low values indicate that prices are unusually low. It can be used with any type of symbol, not just commodities.

Inputs

Correlation Coefficient

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Calculates and displays the Correlation Coefficient between Input Arrays 1 and 2.

Inputs

Countdown Timer

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The Countdown Timer displays an advanced bar countdown timer on your charts. This study is highly configurable through the Inputs.

In the Study Settings window for the Countdown Timer study, on the Subgraphs tab, the font size of the Timer is controlled through the Size setting for the subgraph. The foreground color is controlled with the subgraph Primary color. The background color is controlled with the subgraph Secondary color.

When the countdown timer is used on a chart with time specific bars (ex: 5 min), the remaining time will only advance when trades occur. To overcome this set the Display Continuous Time Countdown Based on Real-Time Clock input to Yes. Although using this setting, may not always work properly.

The Countdown Timer can be displayed in any chart region by changing the Chart Region setting for the study to the region you want it displayed in. However, when you set it to a region other than Chart Region 1, you need to be certain you have properly set the Vertical Position Value input to the value you want the Countdown Timer displayed at in the chart region where it is displayed. Otherwise, it will not display.

Inputs

Cumulative Sum of Study Line

[link]

Cumulatively adds data from a Subgraph line within a study.

Inputs

Current Price Line

[link]

Displays a line on the chart at the most current price level.

Inputs

Custom DLL Study

[link]

This study is for using older advanced custom studies for Sierra Chart. It is for back compatibility only. Advanced Custom Studies do not require this study unless they are very old.

See the How to Use an Advanced Custom Study documentation page for complete instructions to use an Advanced Custom Study.

See the Creating Advanced Custom Studies and Systems documentation page for complete instructions to create an Advanced Custom Study or System.

Custom Scale Control

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Apply this study to a chart. Go to Chart >> Chart Settings, press Scale, and set the Scale Range to Same As Region.

Inputs

Daily OHLC

[link]

This study draws the open, high, low and close of a previous, future, or the current day on an intraday chart. By default, the prices are determined from the Intraday Data itself. Alternatively, the prices can be determined using a daily chart by setting Use this Intraday Chart to No. The Daily Chart Number input described below explains how to reference the daily chart.

Inputs

Demand Index

[link]

Calculates James Sibbet's Demand Index using the standard method.

Inputs

Demarker

[link]

Calculates and displays the Demarker study.

Inputs

Detrended Oscillator

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Formula: Closing prices minus the simple moving average of the Closing prices over the specified length.

Inputs

Detrended Oscillator - DiNapoli

[link]

Calculates and displays the DiNapoli Detrended Oscillator.

Inputs

Difference Study - Bar or Single Line

[link]

Calculates the difference between two charts. See the Multiple Chart Studies description for general instructions to use this type of study.

The graph can be either a bar or a single line. If you use the Bar version, the actual graph type is set through the Graph Draw Type setting in the Study Settings window.

For every bar/column in this study, it references the corresponding bar/column in the chart being referenced (ChartNumber Input). This would be the nearest matching DateTime value in the chart being referenced compared to a particular DateTime in the chart this study is on.

The Single Line version of this study calculates the difference between the Input Data data of the chart this study is applied to and the same Input Data in the specified chart. For example, if the Input Data input is set to Last, then it is the difference between the Last value of a particular bar in the chart that this study is applied to and the Last value of the corresponding bar in the specified chart.

The Bar version of the Difference study calculates the difference between the open, high, low, and close, independently, for a particular bar in the chart the study is applied to and the corresponding bar in the chart being referenced. If the Open or the Close differences exceed the High or Low differences, then the High and/or Low are adjusted so that the Open or Close differences do not exceed them.

When the chart is updated, then the last column and any new columns of this study are updated.

Difference - Study Subgraph

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Calculates the difference between two study subgraphs. Formula: Study Subgraph 1 - Study Subgraph 2

Inputs

Directional Movement Index

[link]

Welles Wilder's Plus and Minus Directional Indicators +DI and -DI.

Inputs

Directional Movement Oscillator

[link]

Calculates the difference between the Directional Indicators -DI and the +DI.

Inputs

Dispersion

[link]

Calculates the Dispersion(Variance) of the latest inputs. This is calculated by summing up the value of the mean, of the values, minus the current value squared divided by the number of values:
Sum( ((Mean-Value)^2) / Number of Values )

Inputs

DOM Data

[link]

This study will display the current Depth of Market data. It is intended to be used with the Worksheet study. When using this study, also add the Worksheet study to your chart. The DOM data will be visible at column AA, or after. Since the study graph itself is probably not very informative, you will probably want to hide it. To do this, go to Tools >> Adjust Regions and adjust the region, so that it takes a small amount of space on the chart.

Donchian Channel

[link]

For each bar in the chart, this study draws a line at the level of the highest high of the last N bars. N is set with the Length input. For each bar in the chart, this study draws a line at the level of the lowest low of the last N bars. N is set with the Length input.

Inputs

Double Stochastic

[link]

Inputs

Double Stochastic - Bressert/Kiwi

[link]

Inputs

Downtick Volume

[link]

The study will display downtick volume, if possible, for a bar. Downtick volume is the volume of trades that occurred at a lower price than before. Trades that occurred at the same price and where the prior trade was at a Lower price, are also considered downticks. The study will only function accurately and correctly when you have tick by tick data in the chart data file. In File >> Data/Trade Service Settings, the Intraday Data Storage Time Unit will need to be 1 Tick and the historical intraday data downloaded from the data or trading service you are using also needs to be 1 Tick. If the historical data downloaded is not 1 tick, then that's OK but the areas where you do not have 1 Tick data in the chart, the study will not function correctly.

Elder Ray

[link]

Calculates and displays the Elder Ray study.

Inputs

Envelope

[link]

Plus and minus bands a percentage of the Input Data input drawn above and below the main graph.

Inputs

Fast Stochastic

[link]

The Stochastic oscillator compares where a symbol's price closed relative to its price range over a given time period.

Inputs

Fibonnacci Auto Retracement

[link]

Inputs

Find High and Low of the Day

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This study marks the High and Low of the day.

Inputs

Force Index

[link]

No information is currently provided.

Inputs

Force Index Average

[link]

Exponential average of the force index.

Inputs

Heikin-Ashi

[link]

The Heikin-Ashi Study is a way to calculate average bars.

If you want to view the Heikin-Ashi study as the Main price graph, open the Technical Study Settings window for the study and enable the Display As Main Price Graph option.

The Heikin-Ashi is calculated with the following formula:

Heikin-Ashi Close: haClose = (Open + High + Low + Close) / 4.
Heikin-Ashi open: haOpen = (yesterday's haOpen + yesterday's haClose) / 2
Heikin-Ashi high: haHigh = the higher of today's High, and today's haOpen
Heikin-Ashi low: haLow = the lower of today's Low, and today's haOpen

Herrick Payoff Index

[link]

The Herrick Payoff Index is designed to show the amount of money flowing into or out of a futures contract. The index uses open interest during its calculations; therefore, the symbol, being analyzed must contain open interest.

Probably the best analysis will be achieved by using Open Interest data that includes the total Open interest for all the contracts for the underlying symbol. If you are using the myTrack service you can obtain this data by using the Dial Data Database. You can select this Database as an alternate source for Historical data by selecting Global settings >> Data / Trade Service Settings >> Alt. Historical Service.... Any futures contract you open a chart for, should contain total Open Interest.

Inputs

High/Low for Time Period

[link]

The High/Low for Time Period study will draw lines across each day in the chart at the Highest price for the time spanning the Start Time and End Time inputs and at the Lowest price for the same time period. The lines for a day will drawn beginning at the Start Time input and go to the end of the days session time. The beginning and ending of a days trading session is determined from the Session Times in Chart >> Chart Settings. This study is typically used to draw the opening range across the day in the chart or to draw the overnight session High and Low on the day session.

If you wish to draw lines on an intraday chart for the current day that represent the highest High and the lowest Low for the day, then you will want to use the Daily OHLC study and set the OHLC of n Days Back (OHLC of How Many Days Back) input to 0.

Inputs

Historical Volatility Ratio

[link]

This study calculates the Historical Volatility Ratio.

Inputs

Horizontal Lines

[link]

The Horizontal Line study is for drawing horizontal lines on other studies and on the main price graph. Lines can be drawn in any region on the chart. The horizontal line study can be added as many times as you require to a chart.

Inputs

Inside Bar

[link]

This study will place a point at the top of all bars that have an inside bar pattern.

Inputs

Inside or Equals Bar

[link]

This study identifies an Inside or Equals bar.

Inputs

Inverse Fisher Transform

[link]

The Inverse Fisher Transform applies the Inverse Fisher Transform formula to any study. Add this study to a chart and set the Based On setting to the study that you want to apply the formula to. This study must also be added to the chart. Set the Input Data input to the subgraph of the study you are basing this study on that you want the Inverse Fisher Transform applied to. This study has a moving average to smooth the final output.

Inputs

Inverse Fisher Transform with RSI

[link]

The study calculates the Inverse Fisher Transform of an RSI.

Inputs

Island Reversal

[link]

This study will place a point at the high of all bars that have an up island reversal pattern and will place a point at the low of all bars that have a down island reversal pattern.

Inputs

Kagi Chart

[link]

A Kagi Chart is a chart that ignores time and displays a series of lines where the thickness and direction of the line signify how the price is moving. If a Kagi line exceeds the prior high point of the Kagi Chart, the line becomes thick. If a Kagi line falls below the prior low point, the line becomes thin.

This study can be applied to a chart of any time period. Although bars of a very short duration , such as under 10 seconds, would create the most accurate chart. You may wish to use a longer time period for different results. The study can be applied to Historical Daily Charts as well.

Inputs

Keltner Channel

[link]

The Keltner Channel is similar to Bollinger Bands.

Inputs

Kijun-Sen

[link]

This study calculates and displays the Kijun-Sen study.

Inputs

Kiwi's Trailing Stop

[link]

Calculates and displays the Kiwi's Trailing Stop study.

Inputs

Kurtosis

[link]

The general form or a quantity indicative of the general form of a statistical frequency curve near the mean of the distribution. The Excel help screens tell us that "kurtosis characterizes the relative peakedness or flatness of a distribution compared to the normal distribution. Positive kurtosis indicates a relatively peaked distribution. Negative kurtosis indicates a relatively flat distribution" (Microsoft, 1996).

Inputs

Least Squares Moving Average

[link]

This study calculates a least squares moving average.

Inputs

Line

[link]

The Line study is for drawing lines on other studies and on the main price graph. Lines can be drawn in any region on the chart. The Line study can be added as many times as you require to a chart, to draw multiple lines.

If you wish to overlay the Line study on another study, then be sure to set the Chart Region setting in the Study Settings window for the Line study, to the same region number where the other study is displayed.

Inputs

Linear Regression End Channel

[link]

Inputs

Linear Regressive Slope

[link]

No information is currently provided.

Inputs

MACD

[link]

The Moving Average Convergence/Divergence is a trend-following momentum indicator that shows the relationship between two moving averages of prices. The MACD was developed by Gerald Appel. Currently Sierra Chart uses exponential moving averages for the MACD.

Inputs

Market Facilitation Index

[link]

The market Facilitation Index, created by Dr. Bill Williams, attempts to determine the efficiency of price movement by quantifying the price movement per unit of volume. This is done by taking the day's range (high minus low), multiplying it by the multiplier, and dividing it by the total volume for the period.

Inputs

Market Structure MSL/MSH

[link]

This study identifies Market Structure Lows and Highs on the chart. The bars where these occur will be colored. The color to use is controled through the subgraph color settings. You can also optionally show labels on the bars. A description of the patterns detected can be found here.

Inputs

McClellan Oscillator

[link]

The McClellan Oscillator is a market breadth indicator that is based on the smoothed difference between the number of advancing and declining issues on the New York Stock Exchange.

Add this study to an advancing issues historical chart (myTrack symbol U.PN). Also open a declining issues historical chart (myTrack symbol D.PN). Set the Declining Issues Chart Number input to the declining issues chart number. See the Multiple Chart Studies description for more information.

Inputs

McClellan Oscillator - 1 Chart

[link]

The McClellan Oscillator is a market breadth indicator that is based on the smoothed difference between the number of advancing and declining issues on the New York Stock Exchange. This version uses one chart.

Add this study to the chart of a symbol that indicates advancing issues minus declining issues.

Data service symbols:

McClellan Sum. Index - 1 Chart

[link]

Inputs

McClellan Summation Index

[link]

The McClellan Summation Index is a market breadth indicator based on the McClellan Oscillator.

Add this study to an advancing issues historical chart (myTrack symbol U.PN). Also open a declining issues historical chart (myTrack symbol D.PN). Set the Declining Issues Chart Number input to the declining issues chart number. See the Multiple Chart Studies description for more information.

Inputs

Momentum

[link]

The Momentum indicator measures the amount that a symbols price has changed over a given time span.

Formula: (InputData / InputData n (Length) periods ago) * 100

Inputs

Momentum Trend

[link]

A point is drawn on the bar high if the Momentum (same as the Momentum study) is up. A point is drawn on the bar low if the Momentum is down.

Inputs

Momentum with Moving Average

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The Momentum study with a simple moving average.

Inputs

Money Flow Index

[link]

The Money Flow Index (MFI) is a momentum indicator that measures the strength of money flowing in and out of a security. It is related to the relative Strength Index (RSI), but whereas the RSI incorporates only prices, the MFI accounts for volume.

Inputs

Moving Average Difference

[link]

Calculates the difference between two simple moving averages. The moving averages are of the midpoints of a bar ((High + Low)/2). Formula: Moving Average 2 - Moving Average 1. Rising values are drawn a different color than falling values.

Inputs

Moving Average Envelope

[link]

This study draws bands a specified fixed amount or a specified percentage of a moving average, above and below the average.

Inputs

Moving Average - Adaptive

[link]

This study calculates the Perry Kaufman adaptive moving average. Reference: Stocks & Commodities V13:6: (267): Sidebar: Adaptive Moving Average.

Inputs

Moving Average - Exponential

[link]

This study calculates an exponential moving average of the Input Data.

Inputs

Moving Average - Hull

[link]

Calculates and displays the Hull Moving Average.

Inputs

Moving Averages

[link]

This study calculates and draws 3 moving averages of any type.

Inputs

Moving Average - Simple

[link]

This study calculates a simple moving average of the Input Data.

Inputs

Moving Average - Smoothed

[link]

Calculates and displays the Smoothed Moving Average.

Inputs

Moving Average - Triangular

[link]

A triangular moving average places the majority of the weight on the middle portion of the price series.

Inputs

Moving Average - Triple Exponential

[link]

Calculates and displays the Triple Exponential Moving Average.

Inputs

Moving Average - Volume Weighted

[link]

This study calculates a volume weighted moving average of the Input Data by placing more weight on the prices with a higher volume.

Inputs

Moving Average - Weighted

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This study calculates a weighted moving average of the Input Data.

Inputs

Moving Average - Welles Wilders

[link]

Calculates and displays the Welles Wilders Moving Average.

Inputs

Moving Linear Regression Line/Indicator

[link]

This study calculates and displays the value of a linear regression trendline over n (Length) Data Items (Closes, Highs, Lows, ...). Therefore, any point along the linear regression line is equal to the ending value of a linear regression trendline. For example, the ending value of a linear regression trendline that covers 10 closing prices will have the same value as a 10 Length Linear Regressions Line.

Inputs

Multiple Chart Studies

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This description is for studies that use 2 or more charts in their formula. For example: If you want to graph the Ratio or Difference of two charts:

  1. Open 2 charts, if they are not already open.
  2. Let's assume the chart numbers are #1 and #3. Add the Ratio or Difference study to the chart identified as #1
  3. Set the Chart 2 Number input with the study to chart #3.
  4. The chart referenced on the left side of the division or subtraction operator is the chart the study is applied to. The chart referenced on the right side of the division or subtraction operator is the one set with the Chart 2 Number input (example: #1 will be divided by #3).

The Days To Load and Time Period per Bar settings for a chart, that is referenced by one of these studies, cannot be changed. They are set to the same settings as the chart that is referencing it. If they are changed, then they will be changed back to the same settings as the chart containing the study that is referencing it.

If you want to make one of these studies the main price graph in the chart, and allow studies to be applied to it, then enable the Display as Main Price Graph option in the Study Settings window.

Inputs

Multiply by -1

[link]

Multiplies the Main Price Graph by -1.

Inputs

Murray Math

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This study calculates Murray Math Lines.

Inputs

Mutual Fund Bars

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This study is used with Mutual Funds symbols and creates improved bars.

Inputs

Highest High/Lowest Low Over N Bars

[link]

For each bar in the chart, this study draws a line at the level of the highest high of the last N bars. N is set with the Length input. For each bar in the chart, this study draws a line at the level of the lowest low of the last N bars. N is set with the Length input. This study is also known as the Donchian Channel. We also have a Donchian channel study. It's the same except that it is displaced forward by one bar. This can also be displaced by one bar.

Inputs

Narrow Range Bar

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Identifies Narrow Range bars.

Inputs

Negative Volume Index

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The Negative Volume Index (NVI) increases on days when the volume decreases from the previous day.

Inputs

Number of Trades

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This study is for intraday charts only. It will show the number of trades per bar for bars built from data collected while connected to the data feed.

Inputs

OBV with Moving Average

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Calculates and displays cumulative On Balance Volume and a Simple Moving Average of it.

Inputs

On Balance Open Interest

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Calculates and displays On Balance Open Interest.

Inputs

On Balance Open Interest - Short Term

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Calculates and displays the On Balance Open Interest over a specific length.

Inputs

On Balance Volume

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Calculates and displays Cumulative On Balance Volume.

Inputs

On Balance Volume - Short Term

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This study calculates On Balance Volume for the specified number of volume bars instead of a continuous cumulative total. The Length input specifies number of bars.

Inputs

Open Interest

[link]

Displays Open Interest for futures and options charts.

Inputs

Out of Sequence Detector

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Marks the high of a bar where the date or time is out of sequence. Out of sequence bars can prevent lines or text drawn on the chart from appearing. If an out of sequence bar has been detected, see Help Topic #19.

Inputs

Outside Bar

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This study will place a point at the top of all bars that have an outside bar pattern.

Inputs

Overlay (Bar or Single Line)

[link]

This study overlays the main price graph from another open chart on the chart this study is applied to. Multiple Overlay studies can be added to a chart to overlay more than one price graph on a chart. This study allows you to view multiple symbols in one single chart.

Scaling: By default, the Scale Range is set to Independent for this study. This allows the Overlay to be visible when overlaying on a graph with a completely different price range. If you are overlaying a graph on a chart with similar prices, the Overlay graph line will not match the scale of the graph it is overlaid on. To make the graph line match, set the Scale for this study to Automatic. Please see the Scaling documentation for complete instructions for changing the scale.

The graph can be either a Bar or a Single Line. If you use the Bar version, the actual style is controled with the study's Graph Draw Type setting.

Inputs

Overlay Non-sync

[link]

This study overlays a price graph from another chart on a chart. Multiple overlay studies can be added to a chart to overlay more than one price graph on a chart. The price graph you are overlaying can be from a chart with a different time period. Unlike the Overlay (Bar) study, there is no synchronization between the charts.

By default, the Scale Range is set to independent for this study. This allows the Overlay to be visible when overlaying on a graph with a completely different price range. If you are overlaying a graph on a chart with similar prices, the Overlay graph line will not match the scale of the graph it is overlaid on. To make the graph line match, set the Scale for this study to Automatic. Please see the Study Settings Window section for complete instructions for changing the scale.

The colors of the bars are set through the study color settings.

Inputs

Parabolic

[link]

Calculates the Welles Wilder Parabolic SAR (Stop and Reversal).

Inputs

Percentage Price Oscillator

[link]

Calculates and displays the Percentage Price Oscillator.

Inputs

Pivot Points - Daily

[link]

The documentation here.

Pivot Points - Variable Period

[link]

The documentation here.

Point and Figure Chart

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Image 1

Point and Figure charts compress data into a column of X's or O's. A X column is created when the price is going up, an O column when the price is going down. One X or O is plotted for each price move of the specified Box Size. If the price reverses direction by the number of boxes specified by the Reversal Size input or more, then a new column is created in the opposite direction. The graph is built from the underlying data in the chart. If the underlying data is 1 minute, then the Point and Figure columns will be based upon 1 minute bar data. If the underlying data is daily, then the columns will be based upon daily bar data. If the underlying data is less than a minute or based on ticks, then the columns will be based upon that data. The time period of the underlying data is set by selecting Chart >> Chart Settings on the menu. The time period per bar is set through the controls in the Intraday or Historical Chart Bar Period frames.

When displaying the Point and Figure columns as OHLC bars instead of X's or O's, then if prices are rising, then the close mark will be at the top of the bar. If prices are falling, then the close mark is at the bottom of the bar. On the last bar, the close is at the current closing price. The open mark is at the price where the reversal occurred. Reversals are determined from the high or low of the underlying data bars in the chart. You can use the Chart Values and Chart Calculator tools on the bars to check values and take measurements.

Point and Figure charts are based on the high and low of the underlying bars in the chart. If the open is greater than the close of an underlying bar, likely meaning the high was made first, then the high is processed before the low. If the open is less than the close of an underlying bar, likely meaning the low was made first, then the low is processed before the high. For example, if the Point and Figure column currently being built is up and the underlying data bar is determined to be a rising bar, meaning the low was made first, then the program checks to see if the low causes a reversal. If it did, a reversal will be made. Sierra Chart will then look at the high to see if a new box or boxes can be added if no reversal was made from the low. Or if a reversal was made from the low, Sierra Chart will look at the high to see if a reversal needs to be made from the new down column.

When you are using the Point and Figure study on an intraday chart, for the greatest accuracy and stability you may wish to use underlying chart bars which are of a very short duration such as 10 seconds. This will give you the highest accuracy and stability. If you are using 1 minute underlying bars or a greater time period per bar, then as the last underlying bar is changing in its structure, then you may notice a Point and Figure column disappear and reappear until such time that the underlying bar is completed.

For a X / Up column: The low is at the bottom of the column and the close and high are the top of the column. For an O / Down column: The high is at the top of the column and the close and low are the bottom of the column. Volume for a column is the actual trading volume for the column.

There are 2 Graph Draw Types for this study. One will display Point and Figure columns with a normal OHLC bar style and the other will use a XO the style. They can be selected on the Subgraphs tab of the Technical Study Settings Window for the study. If you are displaying the columns as OHLC bars instead of the XO style, then you may notice that close price of the last bar goes beyond the High or Low. This image explains this.

Subgraph Color Settings: This information applies when the Graph Draw Type is set to use the OHLC bar style. The Open color sets the Open/Close dashes for Up Bars. The High Color sets the High/Low color for Up Bars. The Low color sets the Open/Close dashes for Down Bars. The Last Color sets the High/Low color for Down Bars.

Inputs

Positive Volume Index

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The Positive Volume Index (PVI) increases on days when the volume increases from the previous day.

Inputs

Preferred Stochastic - DiNapoli

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This study calculates a special Stochastic.

Inputs

Previous Bar Close

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Displays the Previous Bar Close.

Inputs

Previous Day OHLC

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This is an older study. Use the Daily OHLC study instead. The Daily OHLC study is up to date and provides a lot more functionality.

Price Volume Trend

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The Price Volume Trend is similar in concept to On Balance Volume in that it is a cumulative total of volume that is adjusted depending on changes in closing prices. But whereas OBV adds all volume on days when prices close higher and subtracts all volume on days when prices close lower, the PVT adds only a portion of the daily volume. The amount of volume added to the PVT is a function of the amount by which prices rose or fell relative to the previous day's close.

The PVT is calculated by multiplying the day's volume by the percentage change of the underlying security and adding this value to a cumulative total. For example, if the security closed up 0.5% and volume was 10,000 shares, we would add 50 (i.e., 0.005 * 10,000 = 50) to the PVT. If the security had closed down 0.5%, we would have subtracted 50 from the PVT.

Formula:
PVT = (((Close - Yest_Close) / Yest_Close) * Vol) + Yest_PVT

Where:

Close = Today's closing price
Yest_Close = Yesterday's closing price
Vol = Today's volume
Yest_PVT = Yesterday's Price Volume Trend

R Squared

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Calculates and displays the R Squared study.

Inputs

Rahul Mohindar Oscillator

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Calculates and displays the Rahul Mohindar Oscillator.

Inputs

Random Walk Indicator

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This study calculates the High and Low Random Walk Indicator. The Random walk indicator is used to determine if an issue is trending or in a random trading range. It attempts to do this by first determining an issue's trading range. The next step is to calculate a series of RWI indexes for the maximum look-back period. The largest index move in relation to a random walk is used as today's index. An issue is trending higher if the RWI of highs is greater than 1, while a downtrend is indicated if the RWI of lows is greater than 1.

Inputs

Range Bar Predictor

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Displays the projected High and Low for a range bar.

Inputs

Rate of Change - Percentage

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The Rate of Change indicator calculates the difference between the current price or volume and the price or volume n time periods ago, n is equal to the Length. Use the Input Data input to specify the price bar item or to specify volume. This study calculates the difference between prices or volumes as a percentage.

Inputs

Rate of Change - Points

The Rate of Change indicator calculates the difference between the current price or volume and the price or volume n time periods ago, n is equal to the Length. Use the Input Data input to specify the price bar item or to specify volume. This study calculates the actual difference between prices or volumes.

Inputs

Ratio - Bar or Single Line

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Calculates the ratio of two charts. Chart1 / Chart2. This is useful for comparing the relative strength of one chart to another. See the Multiple Chart Studies description for instructions.

The graph can be either a bar or a single line. If you use the Bar version, the actual graph type is set through the Graph Draw Type setting in the Study Settings window.

Ratio - Study Subgraph

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Calculates and displays the Ratio between two study subgraphs.

Inputs

Renko Chart

[link]

A Renko Chart is a chart made up of boxes which are always the same size. The value of these boxes are specified with the Renko Box Size input. A Renko box is drawn in a Renko chart when the underlying data in the chart moves by at least a minimum amount (the Renko Box Size). In order for this study to work properly, you must set the Renko Box Size correctly. A new box will not be drawn until this minimum amount has been met. This study is built from the underlying bars in the chart. By default, the Last/Close values of the underlying bars are examined.

This study can be applied to a chart of any time period per bar. Although bars of a very short duration, such as under 10 seconds, will create the most accurate chart. You may wish to use a longer time period per bar for different results. The study can be applied to Historical Daily charts as well.

Note: You must have the proper Tick Size set in Chart >> Chart Settings for the study to work properly.

Inputs

Round Study Subgraph to Tick Size

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This study will round the selected study Subgraph data to the nearest tick size value based upon the Tick Size setting in Chart >> Chart Settings. The first step is to select the study you want this study based on by using the Based On setting in the Study Settings Window for the Round Study Subgraph to Tick Size study. The next step is to use the Input Data input and select the study subgraph you want to round the values for. Also verify you have the proper Tick Size setting in Chart >> Chart Settings.

You probably will want to hide the study that this study is based on. To do this open the Study Settings Window for that study and enable the Hide Study option.

RSI

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This study calculates The Welles Wilder Relative Strength Index.

RSI - W

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This study calculates The Welles Wilder Relative Strength Index. It uses the Wilder's Smoothing Average method for the average upward and downward price change calculation.

SC Woodies Panel

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This study displays the Woodies data panel on the right side of a chart. For more information, see this support board subtopic.

Inputs

Senkou Span A

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Calculates and displays the Senkou Span A study.

Inputs

Senkou Span A & B

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Calculates and displays the Senkou Span A & B study.

Inputs

Senkou Span B

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Calculates and displays the Senkous Span B study.

Inputs

SideWinder

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This study is used by the Woodies CCI system. For more information, see this support board subtopic.

Inputs

Color Settings

SW Top Primary: Color for Normal Up.

SW Top Secondary: Color for Trending Up.

SW Bottom Primary: Color for Normal Down.

SW Bottom Secondary: Color for Trending Down.

Flat Color: Color for Flat Market.

Sine-Wave Weighted Moving Average

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Calculates and displays the Sine-Wave Weighted Moving Average study.

Inputs

Slow Stochastic

[link]

The Stochastic oscillator compares where a symbol's price closed relative to its price range over a given time period.

If you set the Moving Average Type to Exponential (0) for this study, then this will give you a Bressert Double Smoothed Stochastic.

Inputs

Spread - 3 Chart

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This study uses 3 charts and creates a price bar graph. The formula is: Chart 1 + Chart 2 - Chart 3. See the Multiple Chart Studies section for instructions for this type of study and the available study Inputs.

Spread - Butterfly

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This study uses 3 charts and creates a price bar graph. The default formula is: Chart 1 - (Chart 2 * 2) + Chart 3. See the Multiple Chart Studies section for instructions for this type of study and the available study Inputs.

Square of 9

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This study calculates Gann's Square of 9 indicator.

Add this study to a chart. Set the Anchor Value, Degrees, and Level inputs. This study will draw a line at the specified Anchor Value and at the positive and negative degrees from the Anchor line as specified by the Degrees and Level inputs. To get multiple degrees you need to add this study multiple times to the chart using a different Level input for each.

If you find that your price graph is getting compressed by the Square of 9 lines, then set the Scale Range Type in the Scale settings for this study to Same As Region.

Inputs

Standard Deviation Bands

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This study is similar to Bollinger bands, however it is more customizable.

Inputs

Standard Deviation

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Calculates the standard deviation of the data specified by the Input Data input over the Length number of bars.

Inputs

Standard Error Bands

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This study is similar in appearance to Bollinger bands, however they are calculated and interpreted differently. Where Bollinger bands are plotted at standard Deviation levels above and below a moving average, Standard Error Bands are plotted at Standard Error levels above and below the Linear Regression Indicator.

Inputs

STIX

[link]

The STIX is a short-term trading oscillator that was published in The Polymetric Report. It compares the amount of volume flowing into advancing and declining stocks.

Add this study to an advancing issues historical chart (myTrack symbol U.PN). Also open a declining issues historical chart (myTrack symbol D.PN). Set the Declining Issues Chart Number input to the declining issues chart number. See the Multiple Chart Studies description for more information.

Inputs

Stochastic Crossover System

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Inputs

Stochastic RSI

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Calculates and displays the Stochastic RSI study.

Inputs

Study Angle

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This study calculates the angle of a line from another study. The angle is calculated based on the the change in points of the Input Data over the specified Length. The Value Per Point input is used to determine the actual point change. The output is given in degrees, and the range of the output is between 90 and -90, where a positive value means the study Subgraph line is sloping up and a negative value means the study is sloping down. To use this study, set the Based On setting in the Study Settings window for the Study Angle study to the study that you want to calculate the angle from. After this, set the Input Data input to the specific study Subgraph name that you want to calculate the angle for.

Inputs

Study Moving Average

[link]

This study is for back-compatibility. You should use the new Based On setting for a study to base a study on another study. For more information see Technical Study Settings.

The Study Moving Average study is a moving average of any type that can be applied to any other Study. For example, you can apply it to the Commodity Channel Index study to smooth it.

Inputs

Examples

If you want to draw a moving average of Slow Stochastics which is the number 5 study in the Studies to Graph window, you would type 5 in the Study Number input box. The Study Subgraph Number should be 1.

If you want to draw a moving average of RSI which is the number 8 study in the Studies to Graph window, you would type 8 in the Study Number input box. The Study Subgraph Number should be 1.

Study Subgraph Difference

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This study calculates the difference between 2 study subgraphs. These are set through Input Data 1 and Input Data 2 inputs. You need to base this study on the study that contains the 2 subgraphs that you want to calculate the difference of. For more information see the Based On setting.

Inputs

Study/Price Overlay

[link]

This study overlays a study or price graph from another chart onto a chart. Multiple Study Overlay studies can be added to a chart to overlay more than one study or price graph on a chart. The study or price graph you are overlaying can be from a chart with a different time period or even a different symbol. This is the purpose of this study, to overlay studies or a price graph onto a chart from a chart with a different time period per bar or a different symbol.

Inputs

Study Overlay OHLC

[link]

This overlays a study line/subgraph from one chart (usually a shorter duration bar period) onto another chart. It displays it as an OHLC (Open, High, Low, Close) bar. For example, if you overlay a study line from a one minute chart onto a five-minute chart, then each column in the five-minute chart would show the open, high, low, and close values for the study line from the one minute periods during the same five minute period.

One possible use of this study is to create accurate spread charts.

Inputs

Sum

[link]

Calculates the sum of two charts. See the Multiple Chart Studies description for instructions.

Sum All Charts

[link]

Calculates the sum of all charts in the chartbook. There are two versions of this study, one of them displays a single line and Sum - All Charts (Bar) displays a complete price bar.

Inputs

Sum All Charts (Bar)

[link]

Inputs

Sum Charts From List

[link]

This study will create bars that are the sum of the data in the specified list of charts. In other words, the OHLC bar data is based on the sum of the OHLC bar data in all the other charts. The Open values are summed, the High values are summed, etc.

Inputs

Summation

[link]

Calculates and displays the Summation of the Input Data.

Inputs

Summation Periodic

[link]

Inputs

Synthetic VIX

[link]

Inputs

T3

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Inputs

Tenkan-Sen

[link]

Inputs

Three Line Break Chart

[link]

A Three Line Break chart displays a series of vertical boxes based on how the underlying prices change. This chart is always based upon the closing price of the underlying data bars. If the closing price exceeds the previous box's high price, a new Uptrend box is drawn. If the price exceeds the previous box's low price, a new Downtrend box is drawn. Nothing happens if the price is in between the previous box's high and low price. If there is a consecutive number (usually this number is set to 3) of boxes in the same direction (uptrend or downtrend), then the price must fall below or rise above the lowest price or highest price respectfully of all of the last set number of boxes for a new box to be drawn. Otherwise, if the number of consecutive boxes is lower than the set number, the price only needs to fall below or rise above the lowest price or the highest price of only the last box to make a new box. For example, if the line break number is 3, and the last 3 previous boxes were all Downtrend boxes. In order for a new uptrend box to be drawn, the closing price must be higher than all 3 boxes.

This study can be applied to a chart of any time period. Although bars of a very short duration , such as under 10 seconds, would create the most accurate chart. You may wish to use a longer time period for different results. The study can be applied to Historical Daily Charts as well.

Inputs

Time and Sales Price

[link]

Time and Sales Price is a study that displays the prices of trades received. Maintain Time and Sales must be enabled under File>>Data/Trade Service Settings on the menu.

Bid Subgraph: Prices of the trades that occurred at the BID price.

Ask Subgraph: Prices of the trades that occurred at the ASK price.

Other Subgraph: Prices of the trades that occurred inside/outside the BID/ASK prices.

Inputs

Time and Sales Time

[link]

Time and Sales Time is a study that displays the times of trades received. These times directly correspond to the prices shown with the Time and Sales Price study. Maintain Time and Sales must be enabled under File>>Data/Trade Service Settings on the menu.

Inputs

Time and Sales Volume

[link]

Time and Sales Volume is a study that displays the volumes of trades received. Maintain Time and Sales must be enabled under File>>Data/Trade Service Settings on the menu.

Bid Subgraph: Volumes of the trades that occurred at the BID price.

Ask Subgraph: Volumes of the trades that occurred at the ASK price.

Other Subgraph: Volumes of the trades that occurred inside/outside the BID/ASK prices. Or, in the case of IB, the volume may be for trades at multiple price levels.

Inputs

Time and Sales Bid&Ask

[link]

Time and Sales BidSize

[link]

Time and Sales AskSize

[link]

These studies show the individual best bid, ask, bid size, and ask size values that have been transmitted for the symbol. There is a direct column to column correspondence between the bid and ask, bid size, and ask size study columns. For this data to be collected go to Global Settings >> Data/Trade Service Settings on the menu. Enable both Maintain Time and Sales and the Store Bid and Ask Data options. After enabling these options reconnect to the data feed.

Time Line

[link]

This study draws a vertical line at every instance of the specified time on your chart. If you want lines at other times, then add this study multiple times to the chart, and configure each one appropriately.

Inputs

Time Range Highlight

[link]

The study highlights the background of Chart Region 1 from the time span from Start Time to End Time. Start Time and End Time can be reversed if you want to highlight across midnight.

Inputs

TPO and Volume Profile Chart

[link]

The TPO and Volume Profile Chart study transforms a regular Intraday or Historical chart into a TPO and Volume Profile Chart. For more information please see the TPO and Volume Profile Chart documentation.

TPO Value Area Lines

[link]

The TPO Value Area Lines study displays the Value Area High, Value Area Low, and Point of Control (POC) on any bar chart. For information on how Value Areas are calculated, please see the TPO and Volume Profile Chart documentation page.

Inputs

Trade Volume Index

[link]

The Trade Volume Index shows whether a symbol is being accumulated (purchased) or distributed (sold). It should be used on Intraday charts with a very short time period per bar. The TVI is based on the premise that trades taking place at higher "asking" prices are buy transactions and trades at lower "bid" prices are sell transactions.

Inputs

TRIX

[link]

TRIX is a momentum indicator that displays the percent rate-of-change of a triple exponentially smoothed moving average of a security's closing price. It is designed to keep you in trends equal to or shorter than the number of periods you specify.

Inputs

True Strength Index / Ergodic

[link]

The Ergodic and True Strength Index are the same studies. The True Strength Index is based on Bill Blau's ergodic TSI. This study produces 3 lines, the TSI (True Strength Index), the Signal Moving Average (EMA of the TSI), and the Oscillator (Difference of Signal and TSI). The Formula is given as follows:

Numerator = EMA( EMA(Price - LastPrice, LongExpMALength), ShortExpMALength)
Denominator = EMA( EMA( Abs(Price - LastPrice), LongExpMALength), ShortExpMaLength)

TSI = Multiplier * Numerator / Denominator
SignalMA = EMA(TSI, SignalMALength)
Oscillator = TSI - SignalMA

Inputs

Ultimate Oscillator

[link]

Price oscillators typically compare a symbol's smoothed price with its price n bars ago. Larry Williams noted that the value of this type of oscillator can vary greatly depending on the number of bars used in the calculation. So he developed the Ultimate Oscillator, which uses weighted sums of three oscillators, each of which uses a different time period. The three oscillators are based on Williams definition of buying and selling "pressure".

Inputs

Uptick Volume

[link]

The study will display uptick volume, if possible, for a bar. Uptick volume is the volume of trades that occurred at a higher price than before. Trades that occurred at the same price and where the prior trade was at a higher price, are also considered upticks. The study will only function accurately and correctly when you have tick by tick data in the chart data file. In File >> Data/Trade Service Settings, the Intraday Data Storage Time Unit will need to be 1 Tick and the historical intraday data downloaded from the data or trading service you are using also needs to be 1 Tick. If the historical data downloaded is not 1 Tick, then that's OK but the areas where you do not have 1 Tick data in the chart, the study will not function correctly.

Vertical Horizontal Filter

[link]

The Vertical Horizontal Filter determines whether prices are in a trending phase or a congestion phase. Reference: August 1991 issue of Futures magazine, Adam White.

Inputs

Volatility - Chaikin's

[link]

Chaikin's Volatility compares a spread between a symbol's high and low prices. It quantifies volatility as a widening of the range between the high and the low price.

Inputs

Volatility - Historical Study

[link]

This study calculates Historical volatility.

Inputs

Volatility - Trend Indicator

[link]

Inputs

Volume

[link]

This study displays Share or Contract volume. If symbol does not report real-time volume, then this study, when used on an intraday chart, will show the number of trades per bar.

Volume bars are color coded based upon whether the corresponding price bar is up or down. To choose the up and down colors, click on the Subgraphs tab in the Technical Study Settings window and set the Primary and Secondary colors for the first subgraph.

Inputs

Volume by Price

[link]

The Volume by Price Study overlays a Volume Profile graph onto the regular bar chart. The cumulative volume of given price ranges over a given period is displayed as horizontal bars in the background of the bar chart. For more information please see the Volume by Price Study documentation page.

Volume Weighted Average Price (VWAP)

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This study calculates and displays the average daily price for a symbol. Greater weight is given to trade prices that have a higher volume. This study can only be used on intraday charts. It is most accurate on intraday charts with a short time period per bar (less than 5 minutes).

Inputs

Volume - Color Based on Volume

[link]

Inputs

Volume - Down

[link]

The study will display the total volume of a chart price bar, if the bar is considered an Down bar. A Down bar is determined by comparing the Close of a bar to the Open of the bar or to the prior Close.

Inputs

Volume - Up

[link]

The study will display the total volume of a chart price bar, if the bar is considered an Up bar. An Up bar is determined by comparing the Close of a bar to the Open of the bar or to the prior Close.

Inputs

Volume Value Area Lines

[link]

The Volume Value Area Lines displays the Volume Value Area High, Volume Value Area Low, and Volume Point of Control (POC) on a chart. For information on how Value Areas are calculated, please see the Calculations section on the TPO and Volume Profile Chart documentation page.

It is essential that you properly set the Tick Size for the symbol you are applying this study to. This is set in Chart >> Chart Settings. And the Price Increment (see below) study Input also needs to be set correctly with this study.

Inputs

Weighted Average Oscillator

[link]

This study calculates the difference between a slow and fast weighted moving averages.

Inputs

William's %R

[link]

William's %R is a momentum study that measures overbought/oversold levels. It was developed by Larry Williams.

Inputs

Woodies CCI Predictor

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This study is used by the Woodies CCI system. For more information, see this support board subtopic.

Woodies CCI Trend - New

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This study is used by the Woodies CCI system. For more information, see this support board subtopic.

Woodies EMA

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This study is used by the Woodies CCI system. For more information, see this support board subtopic.

Woodies ZLR System

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This study is used by the Woodies CCI system. For more information, see this support board subtopic.

Worksheet System/Alert for Trading

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See the Worksheet Systems, Alerts and Automated Trading documentation page for complete instructions to use this study.

Write Bar Data to File

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This study will write the data that is loaded into the chart into a file. Each line in the file will represent one bar in the chart. Therefore, if you have a 1 minute chart, then each line the data file will be 1 minute. The file is continuously updated as new bars are added to the chart. The very last bar is not written to the data file. Only when there is a new bar added, will the prior last bar will be written. The time stamping of the data in the file will be the same as the times displayed in the chart unless the Use GMT Time input is set to Yes.

Inputs

Zero Lag EMA

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Inputs

Zig Zag

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The Zig Zag study draws lines between highs and lows in the main price graph. A new line will start where prices reverse by the specified Reversal Percentage % when using Calculation Mode 1 or reverse by the specified Reversal Value when using Calculation Mode 2. The High and Low values of a bar are used in the calculations. These can be changed with the Input Data inputs in case you want to base the study on another study.

Inputs

Common Study Inputs

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This section describes study inputs that are common among the available studies.

Input Data

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The input data from either the Main Price Graph, or another study, to use in the study calculations. The Main Price Graph is the default. This input can select a study Subgraph if the Based On setting is set to another study on the chart.

Length

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The number of graph elements or graph elements back from a particular location in the chart to use in the calculation of each graph element in a study. A graph can be a price bars graph or could be a moving average graph. A graph element is a value along a graph drawing and occupies one column in the chart. A graph can contain multiple drawings. For the purpose of this discussion, we generally are referring to a single drawing within a graph (also known as subgraph). A graph element can be an Input Data like open, high, low, or close, an entire price graph bar, a graph element of one of the study graphs, or an element of an internal array used in calculating the study. This Length definition is for all inputs with Length in their name, like Moving Average Length. Example: A moving average study with the Length input set to 10 and the Input Data input set to Close will use 10 closing prices in the average calculation for each of the elements along its graph.

Displace

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The number of bars (chart columns) forward to shift study. For example: You have a chart with 10 bars in it. Each bar is one day. You have a 9 day moving average on that chart with the displace input set to 1. Normally the average for the 9th bar will be drawn on the 9th bar. It will be the average of the eight bars prior and the 9th bar. Since the displace input is set to 1, the average will be drawn on the 10th bar and it will be the average of the nine bars prior. It is shifted forward by one bar.

An alternative to using this input is the Graphical Displacement setting found on the Subgraphs tab of the Technical Study Settings Window. This setting allows for both positive and negative displacements.

Line# (Line1, Line2, etc.), Overbought, Oversold

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The value to draw a horizontal line at in the study graph. For example if you set the Line1 input to 50, then a line will be drawn at the 50 level in the study graph.

Multiplication Factor or Multiplier

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For standard deviation studies (Standard Deviation Bands, Bollinger Bands), this is the value the standard deviation is multiplied by. For other studies, this is the value that a component of the study is multiplied by.

Percentage

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The percentage of the Input Data (open, high,...) or moving average to be added or subtracted from the Input Data or moving average.

Moving Average Type

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Exponential Moving Average

Least Squares Moving Average / Moving Linear Regression Line

Simple Moving Average

Weighted Moving Average

Wilder's Smoothing Moving Average

Simple Moving Average skip zeros

Smoothed Moving Average