Dynamic Profiles allow the price action of the market to dictate the duration of a profile. As price continues to trade within a given range, a profile will continue to build. New profiles are only formed once price moves to new levels relative to recent bars.
A common example of when this process might be needed would be when a scan automatically sorts it's results (based on the scan setup), and then the user wants to run a subsequent scan on that quotepage which uses tokens (such as SEQ) which rely on the order of the symbols to be saved.
First, create a quotepage which contains the group of stocks or symbols on which you'd like to create your cumulative A-D Line. Now download enough daily data on the quotepage to cover the desired period. In our example, we'll create an A-D Line on the S&P 500 from January 1, 2004 to present (August 20, 2004).
Once you've downloaded enough data, we'll need to create two custom indicators which will provide us with what we need.
The first custom indicator will have the following syntax:
(CL > CL.1) + (CL.1 > CL)
The Array User Variable (ARRAY) technical indicator will be instrumental in accomplishing an overall stop loss on a system which tests a basket/quotepage of stocks. In our example, we'll assume that our system is an intraday system running on a given quotepage of stocks, and when the overall system gets down a certain dollar amount, we want to get out of all positions and not re-enter until the next day. Otherwise, the process should be system-independent.
Can you break expressions up on multiple lines?
Yes, just end each line with a semi-colon. The following Signal gives an example:
SET(V#1, MA / CL);
IF(V#1 > 0) THEN (SET(V#2, HI)) ELSE (SET(V#3, LO));
V#1 > 0
The bid/ask feedback has been improved since this tutorial was originally written. Instead of dots at the bid and ask, we now draw a vertical line from the bid to the ask price. There is also a small horizontal line representing the current price that protrudes left from the bid/ask line (this becomes an arrow when in "Presentation Mode").
Also See: CPR Tour
The Market Structure High (MSH) is commonly defined as a series of three candles in which the high of the middle candle is higher than the high of the candle to it's left and to it's right, as seen in the image below:
The syntax for the scan or signal which would detect this condition (on the third candle) follows:
HI.1 > HI.2 AND HI.1 > HI
The RTL formula (syntax) checking process has been improved in several ways to facilitate entry of RTL scan, signal, and custom indicator formulas. The improvements are designed to facilitate entry of technical indicator tokens in cases where multiple tokens are needed for the same technical indicator. In addition, the improvements enable the user to extend the technical indicator tokens available for use in RTL formulas through the use of pre-defined technical indicator "presets".
How do I Compute the IB (Initial Balance) High, Low, or Range?
Also see: RTL Tutorial
Compute the IB (Initial Balance) High, Low, or Range?
This would be done with the Session Statistics Indicator (SESST). To compute the IB High, setup SESST with "Highest Price: High: First 60 Mins of the session." as seen below:
