Display weekly open on lower timeframe

[mallison]

Hi,

Are there any studies to show the weekly opening price as a line across the week on a lower timeframe chart? I am trading a 240 min chart on forex and want a line across every week showing the weekly open. Is this possible, has someone already done it?

Thanks

[ACM]

Re: Display weekly open on lower timeframe

mallison
I do not know if there is an efs already available regardless you could easily modify the Todays Open.efs [located in the OHLC subfolder of the Formulas folder] to adapt it to your needs.
To do this open the formula using the Editor [Tools-> EFS.-> Editor] and first change line 29 ie
xOpen = open(inv("D"));
to
xOpen = open(inv("W"));
This will set the script to retrieve the weekly Open [rather than the daily]
Save the formula with a different name so as not to overwrite the original one and apply it to the chart
Alex

Originally posted by mallison
Hi,

Are there any studies to show the weekly opening price as a line across the week on a lower timeframe chart? I am trading a 240 min chart on forex and want a line across every week showing the weekly open. Is this possible, has someone already done it?

Thanks

[mallison]

That's great thanks Alexis. Do you know if it's possible to label the line drawn with the price? Thanks again for your help!

[ACM]

mallison
If you mean writing a label on the chart then you could do it using the drawTextRelative() function eg
drawTextRelative(1, xOpen.getValue(0), "Weekly Open", Color.blue, null, Text.LEFT|Text.VCENTER, "Arial", 12, "WO");
For the description of this function see this article in the EFS KnowledgeBase
You may want to bookmark this link to the EFS KnowledgeBase where you can find a list of all the available EFS functions
Also try searching the forums as you will find that many of these types of questions have been answered before together with examples
Alex

Originally posted by mallison
That's great thanks Alexis. Do you know if it's possible to label the line drawn with the price? Thanks again for your help!