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Study Summary Window

Introduction

The Study Summary window provides a table view of the Study Subgraphs of studies in the charts in an open Chartbook, set to be included in the Study Summary. Refer to the example image below.

There is only one Study Summary window per Chartbook and it is saved with the Chartbook. A Study Summary window can be set to display data from all Chartbooks by enabling Settings >> Include All Chartbooks on the Study Summary window menu.

Charts and Studies that have Alert Condition Formulas defined for them and the result evaluates to TRUE, are highlighted in the Study Summary using the Study Summary: Alert True Background color configured through the Graphics Settings.

The Study Summary consists of a table where the rows represent each chart in the Chartbook that either has a TRUE Alert Condition Formula result or has a study which is set to be included in the Study Summary. If none of the columns are set to be sorted, then the order of the charts among the rows, can be controlled through the order in which the charts are listed in the Window >> Windows and Chartbooks list.

The columns represent the Study Subgraphs set to be included in the Study Summary on those charts.

Each Study Subgraph can be set to be included in the Study Summary or not. Among all of the rows/charts that are displayed, only the same named study can be included once for those charts. So for example, if the ADX study is set to be included in one or more charts, it will only be displayed once in the table. Any additional instances of this study within the same chart will be skipped.

When determining whether a study is skipped or not, it is identified by its name and whether it is set to be included in the Study Summary. You can change the study name through the Short Name setting on a study to include more than one instance of the same study in the Study Summary.

The order of the studies on the Study Summary depends upon the display priority of a particular named study. The display priority first is determined by the number of times it occurs among all of the charts that are set to be included in the Study Summary. And second by the order the study exists in the Studies To Graph list relative to other studies.

When determining the number of times it occurs among all of the charts that are set to include it in the Study Summary, only the first instance of the study per chart is counted.

Using Study Summary

Follow the instructions below to use the Study Summary window.

  1. Open the charts that you want to include in the Study Summary window.
  2. Add the studies that you want to include in a Study Summary window to those charts.
  3. Open the Study Settings window for a study to be included in the Study Summary window.
  4. Select the Settings and Inputs tab and enable the Include in Study Summary option. For new studies this is enabled by default. Refer to the image below.
  5. Optionally set a Short Name on the study.
  6. Select the Subgraphs tab. Select a particular Subgraph you want included in the Study Summary in the list of Subgraphs.
  7. Enable the Include in Study Summary option. For new studies this is enabled by default. Refer to the image below.
  8. Press OK.
  9. Repeat steps 3 through 7 for each study to be included in the Study Summary window.
  10. Adjust the order of the studies in the Studies to Graph list according to the order in which you want them displayed on the Study Summary window.
  11. Press OK.
  12. Open the Study Summary window through File >> Open Study Summary Window.
  13. Adjust the size of this window as required.
  14. Adjust the column widths as you require. The column widths can be adjusted by left clicking and dragging at the border between columns on the header at the top. The location where you need to left click, you will notice a short red vertical line display signifying that an adjustment can take place by left clicking and dragging.

Setting Alerts and Alert Highlighting

A chart which has an Alert Condition Formula set on it which is TRUE, will be highlighted in the Study Summary. To set the Alert Condition Formula, refer to To Enter an Alert Condition on the Main Chart/Price Graph.

A study on a chart set to be included in the Study Summary that has and Alert Condition Formula set on it which is TRUE will be highlighted in the Study Summary. To set the Alert Condition Formula, refer to To Enter an Alert Condition on a Study.

To set the highlight color, select Global Settings >> Graphics Settings - Global. Set the Study Summary: Alert True Background color to what you require. For complete documentation, refer to Graphics Settings.

Chart Management Related to Study Summary

This section documents various methods for managing multiple charts to be included in the Study Summary window in an organized, consistent, and efficient way.

If you have a large number of charts you want to include in the Study Summary window and do not normally need to look at those charts, then the charts can be put in a separate Chartbook.

The Study Summary window for that Chartbook and be made always visible by enabling Settings >> Always Visible Across Chartbooks on the Study Summary Window menu.

Charts can also be hidden through Window >> Hide Window. Charts Windows can also be destroyed when hidden by enabling Destroy Chart Windows When Hidden.

You can reduce the Use Days to Load >> Days to Load within a chart, if the data is not necessary for the study values at the last bar in the chart. This will make the chart load faster and also conserve memory.

When setting up a large number of charts, you can use the Chart >> Duplicate Chart command to duplicate a new chart from an existing chart with identical settings.

Use the Chart Linking feature for charts to maintain consistent settings among a group of charts. There are different categories of settings that can be linked.

Study Management Related to Study Summary

If you want to have a set of charts with a consistent set of studies on each of them, then use the Chart Linking feature and link the Studies among all of those charts.

Why a Chart is Required for the Studies in the Study Summary Window

The concept of study values on the Quote Board without an associated chart has no reasonable method to the implementation.

Some questions about this are:

  • Historical data is required but Quote Boards do not have historical data. Therefore, at least one chart object which loads historical data, is required in the background for each symbol.
  • How can studies be calculated without a chart object? They cannot be. A chart is required.
  • What are the Study Settings for the study values? It is necessary to set Study Settings and this requires a chart object which supports Chart Studies and Study Settings windows.
  • What are the Chart Settings for the chart? How much historical data is needed? This requires a chart and also requires the Chart Settings window.
  • Is there any missing data in the historical data the calculations are performed on? This requires a chart to visualize this.
  • In the case of a futures contract near rollover, what about the historical futures data for the prior contract? Does this data even exist? What is the rollover date? Is it back adjusted? This requires a chart to configure the settings and to ensure there is no missing data.
  • If a Sierra Chart user says there is something wrong with a study value on a Quote Board, first how would they obviously know this to begin with just by looking at it in isolation without seeing it on the chart and seeing the underlying price bars? The answer is they cannot. The next question is what is the historical data it is based on? Is it complete and does it have any data errors? What about back adjustment for futures data? All of this is exceptionally difficult to even answer to the literal point of insanity without having a chart.

A chart object with Chart Settings and Study Settings windows is absolutely is required for studies on the Study Summary window.


Keywords: Study Summary, Study Board, Radar Screen.


*Last modified Saturday, 13th January, 2018.