Hi. New to IRT and wondering if it is possible to use RTL for Bar Statistics?
Just basic marking charts based upon simple stats like Delta, Max Delta, Min Delta etc.
I can't find any of the Stats in Tokens other than Volume.
Thanks so much for helping me!
Here is one chart that shows the max delta achieived on a number of levels.
https://www.linnsoft.com/charts/maxdeltaexample-es
The black dots give you cumulative delta for they day. The blue dots give you the delta of the bar. The light green gives max delta of the day. The dark green gives the max delta of each bar. There are a variety of ways to accomplish this, but generally the Volume Breakdown indicator is the way to go. If you need other examples, give me the specifics of what you're looking for and I'll let you know how to make it happen.
Thanks Chad.
I was hoping to create markers below/above bars that were driven off of custom RTL signals/indicators.
Specifically, I was hoping to create custom indicators around some of the principles below.
Mark the Chart when ...
Delta > X amount
Max Delta - Delta > X amount
Min Delta - Delta > X amount
leading to additional added parameters that I can see RTL has covered using price and volume.
Thanks!
Import this chart definition: https://www.linnsoft.com/charts/deltamaxminrange-es
There are several ways you could access that Max Delta - Min Delta (Range of Delta Bar) but here is an easy way with VB Indicator...
In the chart, I used a signal with syntax simply...
VB > C#1
looking for the Delta Range to exceed C#1, and I also added a "Range >" Button Indicator to the chart that controls C#1 dynamically.
If you are looking to access any other specific elements of delta bars, let me know. If you wanted the max delta, for instance, you would just change "HI-LO Range" in MA to "High" (or Low if you wanted min delta).
Thanks - this was helpful in understanding the approach.
I have 1 question. I tried an approach I thought was more flexible but did not get the desired result.
I used Volume Bar Stats to assign a variable to MAX DELTA, I named it V#1.
Then I created a Custom Signal using V#1, where I am filtering for MAX DELTA such as V#1>100
But V#1 does not seem to be reading the correct MAX DELTA, any idea why or does this sound robust.
Thanks!
I'm not clear what you're asking on a couple of fronts, but let's start with this..
"I used Volume Bar Stats to assign a variable to MAX DELTA, I named it V#1."
What do you mean by "Volume Bar Stats"? Did you mean "Volume Price Statistics" Indicator? Can you provide more detail? Sharing the chart definition might be helpful.
Hi, apologies, Definition Attached.
My issue is that I am trying to recreate Max Delta % so I can use it in a Custom Signal, but here as a Custom Indicator it is not always pulling the right numbers.
https://www.linnsoft.com/charts/eur-test-eu
I did test Max Delta alone, and that is OK, and Volume by itself also, but Max Delta % (V#1/VOL) gives out incorrect numbers.
Thanks.
I fixed your custom indicator and uploaded here: https://www.linnsoft.com/charts/eur-test-eu-2
The custom indicator syntax would be..
100 * VB / VO
where you setup VB as you see below to get the Max Delta. Then multiply by 100 and divide by Volume to get the Max Delta Percentage.
Much more efficient solution, thank you for taking the time.