Marking an opening range

[0steve]

Is there a relatively simple way to draw lines on a chart at the top and bottom of an opening range, starting the drawing at a specified time of the morning -- say 9:50 a.m., Eastern time?

Would it also be possible to restrict the line-drawing to the current day's intra-chart?

Thanks.

[Guest]

0steve,

The answer to your question(s) is yes. I previously wrote and posted this small application for another forum member. It sounds similar to what you are describing. See if you can modify this to accomplish what you want.

/***********************************************
Provided By : Steve Hare  © April 2006                          
EFS Formula : sBands.efs                  
Version 1.0
4/13/2006

The bands are determined based on yesterdays high and todays open

*/


function preMain() {
  setPriceStudy(true);
  setCursorLabelName("HighBand",0);
  setCursorLabelName("LowBand",1);
  setStudyTitle("sBands");
}

function main() {
// test in main
 if((day(0) != lastday)){
  lastday = day(0);
  sBands(.005);
 }
 return new Array(HighBand,LowBand);
}

// global variable for function
var todaysHighBand = null;
var todaysLowBand = null;
var sNum = 0;
var firstIndex=0;
var HighBand=null;
var LowBand=null;
var lastday = null;

function sBands(tmp){
 if (todaysHighBand!=null){ //this means there was a line previously
  //var rNum = sNum-15;
  //removeLineTool( LineTool.SEGMENT, "hi"+rNum );
  //removeLineTool( LineTool.SEGMENT, "lo"+rNum );
  addLineTool( LineTool.SEGMENT, firstIndex, todaysHighBand, getCurrentBarIndex(), todaysHighBand, 1, Color.blue, "hi"+sNum );
  addLineTool( LineTool.SEGMENT, firstIndex, todaysLowBand, getCurrentBarIndex(), todaysLowBand, 1, Color.blue, "lo"+sNum );
  sNum++;
 }
 
 firstIndex = getCurrentBarIndex();
 yesterdayHigh = high(-1, inv("D"));
 var delta = open(0, inv("D"))*tmp;
 todaysHighBand = yesterdayHigh+delta;
 todaysLowBand = yesterdayHigh-delta;
 
 removeLineTool( LineTool.RAY, "high1" );
 removeLineTool( LineTool.RAY, "low1" );
 
 addLineTool( LineTool.RAY, firstIndex-1, todaysHighBand,  firstIndex, todaysHighBand, 3, Color.red, "high1" );
 addLineTool( LineTool.RAY, firstIndex-1, todaysLowBand,  firstIndex, todaysLowBand, 3, Color.red, "low1" );
 
 HighBand = todaysHighBand.toFixed(2); //convert to text value so that return statement in main does not return these values to the chart 
 LowBand = todaysLowBand.toFixed(2);
} 

This can be downloaded from here:

http://share.esignal.com/groupcontents.jsp?folder=Misc&groupid=339

[0steve]

Thank you!

Thank you! I'll give it a shot.

Steve

[0steve]

Need a better approach to time specification

What I'd like to get is the highest high value in the first 20 minutes of the security's trading day, plus the lowest low value for the same period. But my cludgy attempts to do this with an if statement and time variables keep crashing the application.

var today = new Date();
var h = today.getHours();
var m = today.getMinutes();

// Tentative code to use around 6:50 a.m., Pacific time
// if((h == 6) && (m == 50)) {

if((h == 22) && (m == 8)) // Code to test the idea with
var allGo = true;

if(allGo) {
if(inv(2)) {
bandHigh = hhv(10, high(0));
bandLow = llv(10, low(0));
}
else if(inv(3)) {
bandHigh = hhv(7, high(0));
bandLow = llv(7, low(0));
}
else if(inv(5)) {
bandHigh = hhv(5, high(0));
bandLow = llv(5, low(0));
}

There's got to be an easier way....

[helmutw]

@0steve

Have a look at HiLo_firstXminutes.efs

http://share.esignal.com/ContentRoot/ACM%20Test/Formulas/HiLo_firstXminutes.efs

[0steve]

Gracias!

That's what I've been looking for!

Steve

[ideaman]

How did you get that shaded area?

TIA,

dom

[ACM]

dom
You do that by using the optional yMin and yMax parameters in setBarBgColor()
Alex

[Guest]

Steve,

That is a nice efs for your purposes, here is a link to Alex's fileshare for that efs. As to the shading, I see in my email that Alex just responded to ideaman explaining how to shade the area between the lines.