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Date/Time: Sat, 27 Apr 2024 15:29:46 +0000

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Does SC have a one time framing up and one time framing down indicator?

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[2021-02-24 07:21:23] #25 [Go To First Post]
SC Support Tom - Posts: 450
WRT Post #23: I asked if it was possible to make a modification to the code of a control bar buttons in sierrachart precisely TBB3T and TSA3T see attached snapshot. The modification it's just the possibility to set up the number of ticks that now are fixed at -3 for Bid and +3 for Ask, since i.e on MicroNQ 3 ticks is very thin while on inerest rate FGBL is huge so need to set up like 12ticks on micro NQ and 2 ticks on FGBL and so on for any other derivatives traded. See Post #22 and let me know if that answers your question. There I propose adding an input that allows the user to set the number of ticks used in the OTF calculations.

[2021-02-24 07:36:44] #26 [Go To First Post]
SC Support Tom - Posts: 450
WRT Post #24: Taking into account Number of Ticks and Tick Size is a great idea. So I understand that : CL : Tick Size =1 Number of Ticks = 2 Ns = 2 cents NQ : Ticks Size = 4 Numbert of Ticks = 5 Ns = 5 points Am I correct ? Tick Size = 0.01 (not 1) and Number of Ticks = 2 would result in Ns = 2 cents. I do not know what CL and NQ mean. Condition for OTF(up) state entry : L[2] < L[1] AND L[1] < L // We want two successive strict clean Higher Lows See image for illustration of strict higher highs ; CL, 15 mn TPO, 2 ticks You said in Post #19 that OTF(Up) occurs in an uptrend. That does not only imply higher lows, but also higher highs. Do we not need to check for those as well? For futher evaluation of OTF(up) state, I define a threshold level : LastStrictHigherLow, noted LSHL. I will compare current Low to this threshold, as I don't want an endless downside drift each time within the Ns limit. Condition for OTF(up) state exit : LSHL=max(LSHL[1),L[1]) // LSHL is the max of previous Last Strict Higher Low and previous Higher Low LastStrictHigherLow - Ns > L // Compares last Low below previous Low minus Ns Is this how Dalton defines the exit criterion in the primary source?

[2021-02-24 10:21:23] #27 [Go To First Post]
WarriorTrader - Posts: 245
Hello, My Custom Profile Study may be what you are looking for: Custom Market Profile Chart Good Trading, WT

[2021-02-25 10:40:15] #28 [Go To First Post]
User877753 - Posts: 152
WRT Post #26 1. I do not know what CL and NQ mean. CL for crude oil future NQ for Nasdaq 100 future 2. You said in Post #19 that OTF(Up) occurs in an uptrend. That does not only imply higher lows, but also higher highs. Do we not need to check for those as well? I disagree : higher highs are not needed for an uptrend to go on. They will occur, but are not necessary on every bar. 3. Is this how Dalton defines the exit criterion in the primary source? Full quote from public Glossary page from https://jimdaltontrading.com/glossarypage/ : 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’. One timeframing is applicable to all timeframes, from monthly, weekly, daily charts to the shortest timeframe Market Profile® thirty minute periods intraday. Recognizing a one-timeframing mode can keep a trader from fading a market at inopportune times while also enabling a trader to employ the most appropriate strategic and tactical plan for current market conditions. Accordingly, the criterion for exit is : low of previous bar is broken to the downside by 2 ticks or more

[2021-03-02 11:18:02] #29 [Go To First Post]
SC Support Tom - Posts: 450
WRT Post #28 I disagree : higher highs are not needed for an uptrend to go on. They will occur, but are not necessary on every bar. Please tell me what you think is the exact definition of an uptrend. I attempted to get this clarified by asking in Post #8, and I received confirmation of my understanding (which you disagree with) in Post #9. I searched the web for this definition and almost universally found definitions such as the following. An uptrend occurs when a stock makes consecutive higher highs and higher lows, resulting in a price advance which trends higher. http://thestockbandit.com/uptrend-stock/#:~:text=An%20uptrend%20occurs%20when%20a,higher%20than%20the%20preceding%20low.&text=Example%20of%20a%20stock%20uptrend,a%20stock%20in%20an%20uptrend. According to what you have said, a sequence of inside bars with higher lows and lower highs would constitute an uptrend, which does not make sense to me. That would not be rising price action. I just want to get this study programmed according to Dalton's intentions. I appreciate your help in that regard. Date Time Of Last Edit: 2021-03-02 11:22:42

[2021-03-02 22:03:23] #30 [Go To First Post]
User877753 - Posts: 152
Hi Tom, The definition you quoted is the original definition of a trend from the original Charles Dow theory, more than a century ago. When defining an UpTrend, I see no value to evaluate the highs. What counts is the lows : "Higher Lows" means that buyers win each bar against sellers, whatever timeframe we are in. But when a Lower Low is printed, then buyers lose battle. As in any war, the next battle is key. - if the next bar is a Higher Low, the bulls regain the advantage, and the trend is still up. - f next bar is again a Lower High, then bulls lost this war and Uptrend is over. Now is the time to examine whether the trend is downby looking at the highs, and checking if we have a "Lower High". Successive Lower Highs would then qualify a Down Trend. That's how Mr Dalton defines OneTimeFramming: "A trending situation where in an uptrend, the low of the previous bar is not broken to the downside by 2 tics or more." Note that M. Dalton is allows some leeway with a tolerance, only ounce, of a "one tick" pull-back for the bulls/buyers : you can lose a battle, but without too many casualties. That tolerance ends with a second one-tick pull back : don't lose two battles in a row. Last point: as you suggested, a sequence of higher lows and lower highs, after a sequence of higher lows, would mean a compression - it happens all the time as the trend ages, before resuming or ending in a DownTrend. But a compressed UpTrend is still an UpTrend, until proven not. Hope this helps. JM

[2021-03-03 07:02:43] #31 [Go To First Post]
SC Support Tom - Posts: 450
So let me bring this all together. One Time Framing - Up The prerequisite condition is: L[2] < L[1] && L[1] < L (uptrend) If the prerequisite condition is met, then the chart enters the OTF - Up state if: L[1] > L - Ns Once in such a state, the chart exits the OTF - Up* state if: LSHL - Ns > L, where LSHL[0] = L[0], and for t > 0 LSHL = max(LSHL[1],L[1]) And analogous conditions exist for OTF - Down*. Have I got all of that right?

[2021-03-03 11:30:03] #32 [Go To First Post]
User877753 - Posts: 152
It's really interesting, we are closer to the solution. This LSHL is a good idea. I suggest the following : One Time Framing - Up: The chart enters the OTF - Up state if L[2] <= L[1]- Ns && L[1] <= L - Ns --> The chart has a clean start : 2 consecutive strict Higher Lows. Using the Ns allows to normalize the step and is in line with the condition below. Once in such a state, the chart exits the OTF - Up state if: LSHL - Ns > L, where LSHL[0] = L[0], and for t > 0 LSHL = max(LSHL[1],L[1]) // As soon as the retracement beyond "the tolerance ticks" occurs, One Time Framing - Up ceases. Note : on 3 consecutive compressing bars (ie H[2] >H[1]>H && L[2]<L[1]<L), you will have both states for the last Bar : OTF UP and OTF Down. This won't last, as chart never compresses forever. What do you think about this ?

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