Technical Studies Reference


Technical Studies Reference

This reference contains descriptions and instructions for the studies (also known as indicators) in Sierra Chart. For more detailed information, if necessary, about the studies, refer to the many books available on technical analysis and the abundant amount of technical analysis information on the Internet.

Refer to the Chart Studies documentation page for complete instructions on applying, setting Inputs for and adjusting settings for the chart Studies described here.

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

Multiple Chart Studies

These instructions are for studies that use 2 or more charts in their formula. For example, the Ratio (Bar/Single Line) or Difference (Bar/Single Line) require 2 charts. There are other studies which use two or more charts as well.

  1. Open 2 charts, if they are not already open. To open the charts use File >> Find Symbol >> [select symbol] >> Open Intraday Chart/Open Historical Chart. These are the two charts used in the calculation. For example, if you want to calculate the difference between symbol A and symbol B, then open charts for both of these symbols.
  2. Each chart has a number. Let us assume that the two charts opened have chart Numbers #1 and #2 respectively.
  3. Add the Ratio (Bar) or Difference (Bar) study to the chart identified as #1. Or, whatever study you need to work with that requires a second chart in its calculation. You can also add the Single Line version of these studies. Chart Numbers are displayed along the Region Data Line at the top of the chart and on the title bar of the chart. For example, the formula for Difference is Chart #1 - Chart #2. Therefore, the Difference study, or whatever study you want to work with, needs to be added to the chart to the left of the minus operator in this particular example.



    For instructions to add a study to the chart, refer to Adding/Modifying Studies.
  4. Set the Chart 2 Number Input with the study, to Chart #2.
  5. Press OK to close Study Settings window.
  6. Press OK to close the Chart Studies window.
  7. You will now see the Ratio or Difference calculation (or whatever the result is based upon the study you are using) displayed in Chart Region 2 on Chart #1.
  8. To understand how each chart fits into the calculation, we will explain this with the Ratio (Bar) study. If you add the Ratio study to Chart #1 and set the Chart 2 Number Input to Chart #2, then #1 will be divided by #2 (#1 / #2). So the chart that the study is applied to, is used on the left side of the division operator.
  9. 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.

Displaying As Main Price Graph

If you want to make a study that uses multiple charts, the main price graph in the chart, and allow other studies to be applied to it, then enable the Display as Main Price Graph option in the Study Settings window for the study. Once you do this, other studies you have applied or will apply to the chart, will then be based upon this multiple chart study.

Inputs

  • Input Data (applies only to multiple chart studies that use a single line and not a price bar style)
  • Chart 1, 2, 3 Multiplier: Value to multiply the selected Input Data or the bar in chart 1, 2, or 3 by. Chart 1 is the chart the study is applied to.
  • Chart 2, 3 Number: The Chart Number of the second or third chart to use in the study formula. Select the chart from the list of charts. The first chart used in the calculation is the chart that the study is applied to.
  • Chart 1 Addition: This Input adds the specified amount to chart 1 after multiplying chart 1 by the Chart 1 Multiplier.

*Last modified Tuesday, 25th April, 2017.