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Embedding Indicators PDF Print E-mail
Friday, 12 December 2008 16:30
One of the most common questions about 4XCharts is if you can embed indicators inside other indicators, and of course the answer is yes.

By embedding one indicator in another you can create for example an RSI of a Moving Average. Another example is a Bollinger Band of Price Channel Mid Point. Creating these types of indicators is not only possible but quite easy.

In the following example I will create a Bollinger Band based on the Keltner Mid Point Price Channel Line. First take a look at the chart as you will see it when it is finished being constructed. The black lines are an actual Bollinger Band, the red line is the actual Keltner Mid line and the yellow lines are the hybrid Bollinger Band.
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Kimball   |58
Here's an example of a script that does just this.

//Indicator Ind1

Indicator Ind1
Ind1.Channel=0
Ind1.Color="Green"
Ind1.Thickness= 1

Ind1.Value=BLG_U[0](SMA[0](Close, 11), 20, 2)
Ind1.Draw


//Indicator Ind2

Indicator Ind2
Ind2.Channel=0
Ind2.Color="Green"
Ind2.Thickness= 1

Ind2.Value=BLG_L[0](SMA[0](Close, 10), 20, 2)
Ind2.Draw

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Last Updated on Monday, 27 April 2009 17:01
 
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