Technical Studies Reference
Horizontal Line at Time
The Horizontal Line at Time study will draw a horizontal line starting from the Start Time Input at the level of that chart bar specified with the Input Data Input, all the way up until the bar that the next occurrence of the time is encountered, or the Stop Time if used.
At that new encountered time, the level will change to the Input Data value on the new bar.
By default, the Time (both Start and Stop) is considered to be found at a bar when that bar contains the Time, or if that bar is greater than the Time and the prior bar is less than the Time. The Inputs for Use Allowed Range for Match in Minutes and Allowed Range for Match in Minutes can be used to modify this behavior.
- Input Data
- Start Time: This Input sets the starting time in an Intraday chart to begin drawing the horizontal line from.
It needs to be understood that you cannot specify a time that exists within a chart bar and expect the value at that time within the chart bar to be used. Only the Open, High, Low, Close values of the chart bar that contain the Start Time can be referenced. It is also possible to reference another study by using the Based On setting. But accessing data within a chart bar at a particular time is not possible. Instead you must use a lower timeframe per bar chart to do this.
- Use Stop Time: When this Input is set to Yes, then the horizontal line will be stopped at the Stop Time Input.
- Stop Time: This Input only applies when Use Stop Time is set to Yes. In this case, this Input specifies the time to stop the horizontal line at within the trading day.
It needs to be understood that you cannot specify a Stop Time that exists within a chart bar. The Stop Time must be a chart bar different than the Start Time.
- Limit Horizontal Line From Time To 1 Day: When this Input is set to Yes, the default, then the horizontal line from the time specified by the Start Time Input will not extend more than 24 hours. Therefore, if the next encountered Start Time is further forward than 24 hours, the horizontal line will stop at 24 hours forward. When this input is set to No, the horizontal line will continue forward until the next occurrence of the Start Time is encountered in the next available date.
- Ignore Weekends: When this input is set to Yes, then weekend chart bars are ignored both when determining the start time of the line and the stop time of a line. A weekend is considered Saturday and Sunday and is based on what is called the Trading Day Date of a bar. This considers the Session Times of the chart. If the Session Times are reversed, then Sunday evening trading would be considered Monday and not ignored. For further details, refer to Starting Trading Day in Prior Day.
- Add Extension Lines Until Future Intersection: When this Input is set to Yes, then an extension line is added from the start of the horizontal line until a future bar is intersected. Otherwise, no extension line is drawn. The Color, Line Style, and Width are controlled by the Extension Lines subgraph settings
- Use Allowed Range for Match in Minutes: When this Input is set to Yes, then the value defined in Allowed Range for Match in Minutes is used to create a range of time around the given Start or Stop time and then determines if a bar is within that range that then can be used for the Start or Stop time. Otherwise, if this Input is set to No then a bar is determined to be the Start Time or Stop Time if the prior bar is before the Start Time or Stop Time and the current bar contains or is later than the Start Time or Stop Time.
- Allowed Range for Match in Minutes: This sets the range of time, in minutes, that is used when the Input Use Allowed Range for Match in Minutes is set to Yes. Otherwise, this Input is not used.
*Last modified Wednesday, 13th November, 2019.