Conditionals with IRT

[Soultrader 12]

Hi Chad,

 

Would like to post this here so other users of IRT may find it helpful as well.

 

I figured out how to plot painbar like studies on IRT using formulas. what I am interested in doing is having automatic horizontal lines plotted on the 60min high/low. Can you guide me on how I should go about doing this? Thanks

[LS_Chad 10]

Hi Chad,

 

Would like to post this here so other users of IRT may find it helpful as well.

 

I figured out how to plot painbar like studies on IRT using formulas. what I am interested in doing is having automatic horizontal lines plotted on the 60min high/low. Can you guide me on how I should go about doing this? Thanks

 

What periodicity would the chart itself be? Let's assume 1-minute, then you'd like to see on each 1-min bar, the high and low of the 60-min bar which contains that 1-min bar? Or would you like to see the high and low of the last completed 60-min bar? Or would you like to see the high and low of the 60-minute period of which that 1-min is the last minute (so highest high of last 60 bars essentially)?

[Soultrader 12]

Hi Chad,

 

What I am trying to do is to plot the initial balance directly on my candlestick charts. Thanks

[TinGull 10]

You should be able to do that with a V# variable coming straight off your MP charts to your candle charts...if I remember correctly.

[TinGull 10]

http://www.linnsoft.com/videos/mp_morerefs/

 

I think that video oughtta lend a hand.

[Soultrader 12]

Thanks Tin... but looks like the video is showing me how to plot lines on the mp charts. Im looking to plot automatic lines of the IB high/low on m candlestick charts.

[TinGull 10]

http://www.linnsoft.com/videos/pivot_xfer/index.html

 

http://www.linnsoft.com/videos/tpo_lines_flash/index.html

 

Sorry...didn't watch it. Was trying to remember which video it was from when I in the thick of it. One of those 2 oughtta help.

[LS_Chad 10]

Thanks Tin... but looks like the video is showing me how to plot lines on the mp charts. Im looking to plot automatic lines of the IB high/low on m candlestick charts.

 

Yes, I think this video TinGull shared will show you to transfer the IB direction from the MP charts:

 

http://www.linnsoft.com/videos/tpo_lines_flash/index.html

 

However there are easier ways to do this....using the Session Statistic indicator. But the exact settings for the indicator may vary depending on the session and periodicity of your chart.

 

For a chart setup on day session (session 2 in IRT), you'd simply setup Session Statistics as "highest high of the first 60 minutes of the session" (and another for lowest low). This chart demonstrates this:

 

http://www.charthub.com/images/2008/03/15/InitialBalance.png

 

 

That's probably a little easier than transferring from and MP chart...and it has the advantage of not being dependent on the MP chart...AND it plots the IB historically so you can review IB on past sessions. However, if you're looking to plot alot of the other MP prices like VA, OR, etc...the method described in the video might be the way to go.

[LS_Chad 10]

You could also create IBH and IBL custom indicators and then use them for inside the Price Bands indicator to get this effect:

 

http://www.charthub.com/images/2008/03/15/InitialBalance_2.png

 

[Soultrader 12]

Thank you Chad. I like the Sessions Statistics indicator. I am curious to see if the green stepping line can be ignored? Instead of trying to update each bar, is it possible to have the lines just plot once the first 60min is complete? Thanks

[Soultrader 12]

Okay Im stuck here. How would I go about switching this CQG language to IRT language.

 

Vol(@)[1] < Vol(@)

 

Volume of next bar is less than volume of current bar.

 

Thanks.

 

[LS_Chad 10]

Okay Im stuck here. How would I go about switching this CQG language to IRT language.

 

Vol(@)[1] < Vol(@)

 

Volume of next bar is less than volume of current bar.

 

Thanks.

 

 

So you want to essentially look into the future from each bar and grab the volume of the next bar, correct. Couple ways to do this. The easiest would probably be to use the MA (Moving Average) token/indicator. Set it up as "Simple 1 Period smoothing of Volume" and "shift left 1 bar". Let me know if you have any problems with that. Then, your syntax would be:

 

MA < VO