Indicator Marking in Telechart | stockbee

6/14/2007

Indicator Marking in Telechart


TRCR with 4% breakouts and Episodic Pivots marked


One of the regular question I am asked is how do I get these yellow, blue, green, light blue markings indicating past breakout on charts in Telechart. Most of you are trying to do this and get error message. So here is a brief description of how to do this.

Under the Editing Chart Template setting you have 3 options to put a marker:
  1. Indicator
  2. % true
  3. cumulative
The reason you are not getting the marker and getting errors is because you are putting the boolean scans (scan whose results can only be "true" or "false" ) under indicator. They should be under % true.
For example:
( 100 * (C - C1) / C1) >= 4 AND V >= 1000 AND V > V1
Will only have True or False value. You need to put it under % true.

As against that say if you want to plot the value of 25% pullback from highest close in six month, the results are value, it will go under "indicator"
For example:
.75 * MAXC130
Will have value as output. This is the equation which gives the blue line below price graph in above chart.

8 comments:

vishal said...

pradeep,

random question but do you believe telechart is worth the 30 bucks a month? just wanted to know cuz im in the market for a chart software but its price is a bit steep for me

thanks!

Pradeep Bonde said...

It is the most widely used software. Easy to use and with cleanest data.

market operator said...

When looking at episodic pivots such as new contracts or agreements, how do you assess the magnitude of that pivot, i.e. is this catalyst profitable? Do you look at the price action as confirmation (4% Breakout with large volume)?

Pradeep Bonde said...

Stock moves are triggered by some episode. The episode brings new information to market participant, which leads to change in market expectations.Episodes which bring a "surprising information" to the notice of market participants often has the probability of setting off long duration rallies, if such information is not currently factored in stock price.
If such information is significantly different from market participants current perception and assumptions, it leads to a rally in either direction.

Tim said...

You can also get the markers on the chart using the 'Indicator' setting in Telechart. To do this, surround the entire formula with () and add *-1 after the last ). I like to use the 'Center at zero' setting. That allows me to have one formula spike up when true, by adding *-1, and one to spike down when true, by adding *1. I can email people screen shots if that will help.

Pradeep Bonde said...

Thanks
I did not think of that possibility.

Susan said...

why is the marking in different color and 2 different panel? what does each mean?

Pradeep Bonde said...

Yellow= 4%
Light blue= EP 20/25/5 point
Green= EP 10%