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Direct MessagesDate/Time: Mon, 20 May 2024 18:57:23 +0000
Post From: Does SC have a one time framing up and one time framing down indicator?
| [2021-02-11 16:34:40] |
| User877753 - Posts: 152 |
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Hi John, Great to have a new indicator for One-TimeFraming ! However I'm not sure the One Time framing indicator does exactly reflect generally accepte One-TimeFraming concept. Jim Dalton popularized the concept as : "One-TimeFraming A trending situation where in an uptrend, the low of the previous bar is not broken to the downside by 2 ticks or more. Conversely, in a downtrend, the high of the previous bar is not exceeded by at least 2 ticks or more. As these upside and downside situations occur over multiple bars we identify them as 'one-timeframing’." See : One-TimeFraming in https://jimdaltontrading.com/glossarypage/ In his 1993 "Mind Over Markets" book, Jim defines one-timeframe seller control as "inability of the buyer to successfully rotate price upward beyonf the previous time period's auction high during two or more successive periods." The arithmetic transalation is : One Time Framing up = L[1] > L - 1 : no condition on H. One Time Framing down : H[1] < H -1 ; no condition on L. See attached screenshot for correct drawing (so I hope...) on the right pane versus current indicator on the left pane. Some useful enhancements to the indicator would be : - to adjust the Arrow Offset in Ticks or Points : better on intraday chart - to allow the user to modify the step in ticks or points : condition would be : L[1] > L - step. Would make sense for NQ for instance : a 1 tick step, as 1/4 point, is really too tight. These days Jim uses a two tick step for ES. Hope this helps. Feel free to reach me if you need. Regards, JM |
 2021-02-11 17_31_20.jpg / V - Attached On 2021-02-11 16:32:02 UTC - Size: 192.9 KB - 232 views |