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Direct MessagesDate/Time: Fri, 10 May 2024 12:19:55 +0000
Does SC have a one time framing up and one time framing down indicator?
View Count: 3335
| [2020-11-12 21:08:04] |
| MichaelG - Posts: 34 |
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Does SC have a one time framing up and one time framing down indicator? If not how would I build this?
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| [2020-11-12 21:29:28] |
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This does not sound familiar to us. We need more details as to what you are looking for.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2020-11-12 21:36:41] |
| Ackin - Posts: 1865 |
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This does not sound familiar to us.
maybe this: One Time Framing is a way to describe how the auction is performing over 2 or more bars. One Time Framing can help to provide an indication of which side is in control. One Time Framing Up indicates that the low of each bar is higher than the low of the bar directly preceding it (higher lows). There doesn’t have to be a higher high for this to be valid. One Time Framing Down indicates that the high each bar is lower than the high of the bar directly preceding it (lower highs). There doesn’t have to be a lower low for this to be valid. Once the pattern of higher lows or lower highs has been broken, One Time Framing is considered to have ceased. The concept of One Time Framing can be applied to bars of any type of periodicity, but is traditionally used when referring to Weekly, Daily or 30 Minute bars. https://convergenttrading.com/wp-content/uploads/2018/08/GlossaryTerm_One_Time_Framing_v1.01.png source: convergenttrading.com Date Time Of Last Edit: 2020-11-12 21:37:16
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| [2020-11-13 13:05:56] |
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We will look into this.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2020-11-17 03:17:42] |
| SC Support Tom - Posts: 450 |
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I have coded this study based on the description given in Post #3. The study contains two Subgraphs: 1) OTF - Down, which equals the High when High < High[1] and equals 0 otherwise. If this Subgraph is nonzero at a bar, then a downward arrow is placed at the High for that bar. 2) OTF - Up, which equals the Low when Low > Low[1] and equals 0 otherwise. If this Subgraph is nonzero at a bar, then an upward arrow is placed at the Low for that bar. Note that any given bar can be both OTF - Up and OTF - Down, as is the case with Bar #4 in the attached image. Let us know if this is what you had in mind. If so, then I will submit the code to Sierra Chart Engineering. Date Time Of Last Edit: 2020-11-17 08:31:29
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 $INX Daily #1 2020-11-16 21_09_00.555.png / V - Attached On 2020-11-17 03:17:38 UTC - Size: 36.69 KB - 402 views |
| [2020-11-17 16:50:06] |
| MichaelG - Posts: 34 |
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market profile defines otf as- One time framing up is a trending situation where in an uptrend, the low of the previous bar is notbroken to the downside by 2 tics or more. Conversely, One time framing up, the high of the previous bar is not exceeded by at least 2 ticks or more. you can never have a bar that is both otfu and otfd ...this situation is called an outside bar... |
| [2020-11-17 17:29:21] |
| SC Support Tom - Posts: 450 |
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WRT Post #6: One time framing up is a trending situation where in an uptrend, the low of the previous bar is notbroken to the downside by 2 tics or more. The uptrend was not mentioned in Post #3, which is why I did not include it in my original code. I can modify the code to take this into account (and also downtrends). Date Time Of Last Edit: 2020-11-17 17:30:06
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| [2020-11-17 18:10:17] |
| SC Support Tom - Posts: 450 |
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I am coming from a math background, not a trading background, so before I continue I want to get confirmation on my understanding of "uptrend" and "downtrend". I have read verbal definitions of these things, but I need a precise mathematical definition. The verbal definitions that I found say that an uptrend is characterized by higher peaks and troughs, and that a downtrend is characterized by lower peaks and troughs. I am assuming that "peak" means "high price" and "trough" means "low price". So if I include an Input called Length (denoted as n), then an uptrend is defined by: H[1] < H and L[1] < L H[2] < H[1] and L[2] < L[1] . . . H[n] < H[n - 1] and L[n] < L[n - 1] And a downtrend is defined similarly, but with the inequality signs reversed. Is that accurate? Date Time Of Last Edit: 2020-11-17 18:10:29
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| [2020-11-17 18:59:29] |
| MichaelG - Posts: 34 |
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yes
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| [2020-11-18 19:01:37] |
| User722856 - Posts: 78 |
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In Reply to #8: @Sierra: Just on a Side Note: The term „One time framing “comes originally from Market Profile TPO Charts terminology. This study would be useful also as native addition for the TPO study. |
| [2021-01-13 09:54:27] |
| SC Support Tom - Posts: 450 |
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After doing quite a bit of research, I have found a way to code this study and I have submitted the code to Sierra Chart Engineering. Regarding Post #10, I do not know how to implement this within the TPO study. I will consult with Sierra Chart Engineering about that. |
| [2021-02-02 12:05:55] |
| Matt NL - Posts: 91 |
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Hi Tom I'm getting this (sometimes!) when I open my studies list (F6)... "Failed to get the function address for scsf_OneTimeFraming in C:\SierraChart\Data\SierraChartStudies.dll. Error: Windows error code 127: The specified procedure could not be found. | 2021-02-02 05:59:34.934 *" I started my own topic before I saw this thread.... Failed to get the function address for scsf_OneTimeFraming |
| [2021-02-02 13:10:05] |
| Ackin - Posts: 1865 |
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Look: received error + new update 2226 |
| [2021-02-02 14:44:17] |
| John - SC Support - Posts: 31509 |
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We are working on the final changes to the One Time Framing study. The reason that error was showing was because we mistakenly put out an update that included a reference to the study, but not the study itself. We are still working on this, but we hope to have it done in a few days. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-02-02 19:53:48] |
| whats1thingnow - Posts: 407 |
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amazing job! a possible addition to the study is to have a selection period of timeframe: 1) based on bar period 2) based on daily bars 3) based on weekly bars as per post #3 (Does SC have a one time framing up and one time framing down indicator? | Post: 240597) convergent trading talks about otf on daily bars and on the daily chart, ft71 checks if weekly otf is also in play so we if have an option of study based on daily or weekly... we could add the same study on a daily chart and see if both or either daily and weekly otf is in play (in the same chart) thanks |
| [2021-02-02 20:20:35] |
| whats1thingnow - Posts: 407 |
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@John - SC Support if you need further clarification, you know where to find me :)
Date Time Of Last Edit: 2021-02-02 20:30:05
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| [2021-02-10 22:46:56] |
| SC Support Tom - Posts: 450 |
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This study has been coded and submitted to Sierra Chart Engineering. It will be available soon; just keep updating your version of Sierra Chart. The study will function as documented here: One Time Framing WRT Post #15: a possible addition to the study is to have a selection period of timeframe: 1) based on bar period 2) based on daily bars 3) based on weekly bars The study is quite basic, and has only one Input: an offset percentage that controls where the arrows in the Subgraph are drawn (see attached image). The timeframe of the study is the same as the timeframe of the chart. If you want it to be weekly, you can open a Daily Chart, change the timeframe to a 7 day chart, and apply the study. |
| $INX Daily #1 2021-02-10 16_45_18.882.png / V - Attached On 2021-02-10 22:46:52 UTC - Size: 30.7 KB - 232 views |
| [2021-02-11 14:47:36] |
| John - SC Support - Posts: 31509 |
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The One Time Framing study is available in Pre-Release v 2227.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [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 - 231 views |
| [2021-02-12 21:04:16] |
| SC Support Tom - Posts: 450 |
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WRT Post #19: I coded and documented this study. Unfortunately, I did not find any explicit formulas for this study, but rather verbal descriptions. I inferred my formulas from those descriptions. Let me see if I understand you correctly. 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. I understand L[1] and H[1] as the Low and High of the previous bar, respectively. I also understand L - 1 and H - 1 as 1 unit less than the current Low and High, respectively. Have I got those right? Also, there must be a condition on H for OTF(Up) and on L for OTF(Down). Either that, or the following source is wrong. http://www.marketprofilesolution.com/Archive/2014/5/basic_strategy_6#.YCbsymhKiUk A one time framing is stopped by an inside bar. An inside bar is defined as a low higher than the previous bar low AND a high lower than the previous bar high and it starts a new balance. This balance top and bottom being the high and low of the bar preceding the inside bar. I set up my formulas so that an Inside Bar would indeed stop OTF. |
| [2021-02-13 09:41:52] |
| User877753 - Posts: 152 |
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WRT Post #20: I understand L[1] and H[1] as the Low and High of the previous bar, respectively. I also understand L - 1 and H - 1 as 1 unit less than the current Low and High, respectively. Have I got those right?
Yes. the "unit" could vary from 1 to a few ticks, depending on contract's average range. Also, there must be a condition on H for OTF(Up) and on L for OTF(Down). Either that, or the following source is wrong.
There is no condition about H in 1TFing up ; no condition about L in 1TFing down.As I understand One Time Framing (1TFing) from original authors, the source you mention is wrong. Inside bar does not stop any 1TFing, as both condition are verified : L[1]>L>L-1 and H[1]<H<H+1. Observation : the only type of bar which would stop any 1TFing, up or down, is an outside bar, as both previous H and L are exceded. Note that outside/inside bar is not relevant for coding : just an observation. Hope this helps. |
| [2021-02-17 21:30:15] |
| SC Support Tom - Posts: 450 |
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WRT Post #21: Suppose I create an Input called Number of Ticks (call it N) in conjunction with the Tick Size (s). Would you agree that the following formulas would be correct? OTF(Up): L[1] > L - N*s OTF(Down): H[1] < H + N*s Date Time Of Last Edit: 2021-02-17 21:30:28
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| [2021-02-17 23:28:20] |
| User657945 - Posts: 226 |
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Tom may be I'm wrong but since you made a quite complex code in so less time, sometimes ago 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. Thx |
| TRADEBUYBID.PNG / V - Attached On 2021-02-17 23:28:14 UTC - Size: 58.33 KB - 208 views |
| [2021-02-20 12:18:00] |
| User877753 - Posts: 152 |
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Suppose I create an Input called Number of Ticks (call it N) in conjunction with the Tick Size (s). Would you agree that the following formulas would be correct?
OTF(Up): L[1] > L - N*s OTF(Down): H[1] < H + N*s Hi Tom, 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 N*s = 2 cents NQ : Ticks Size = 4 Numbert of Ticks = 5 N*s = 5 points Am I correct ? However, I realize that I made a stupid mistake in post 19 and that I misled you - sorry about that. So let start over : here is my suggestion. 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 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 N*s 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 - N*s > L // Compares last Low below previous Low minus N*s Jope this help. Sorry again for my mistake. JM |
| 2021-02-20 13_13_22.jpg / V - Attached On 2021-02-20 12:16:28 UTC - Size: 444.7 KB - 230 views |
| [2021-02-24 07:21:23] |
| SC Support Tom - Posts: 450 |
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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. |
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