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Up until now I'd never had a use for highlighting a new high/low in T&S. But I just found a small way that it would be useful and applied it.
However, it seems that the function is designed to where a new high/low is recorded in relation to the previous day's close. So if there is an opening gap, no new highs/lows will be shown if the trades following the open move back into the gap. For example yesterday's close was 100, and today there was a gap and the opening price was 110. New highs over 110 will be highlighted in T&S, but lows won't be until the price goes through yesterday's close of 100.
Now I don't know if this is the standard design in all the world's trading software, or maybe I'm just missing a setting to ignore the gap, but new highs/lows made during the day's trades are too significant to be ignored as such due to there having been an opening gap. I know there are those who regard the gap itself as equaling a number of trades. But for those on my side, it would be useful if there were an option in T&S to disregard the previous day's close and base new highs/lows on just actual trades made after the open. Or maybe it should really be that way by design?
Thank you for considering this,
jay
I tried to send this in the Request a Feature form but it wouldn't go through. Maybe it's too long.
However, it seems that the function is designed to where a new high/low is recorded in relation to the previous day's close. So if there is an opening gap, no new highs/lows will be shown if the trades following the open move back into the gap. For example yesterday's close was 100, and today there was a gap and the opening price was 110. New highs over 110 will be highlighted in T&S, but lows won't be until the price goes through yesterday's close of 100.
Now I don't know if this is the standard design in all the world's trading software, or maybe I'm just missing a setting to ignore the gap, but new highs/lows made during the day's trades are too significant to be ignored as such due to there having been an opening gap. I know there are those who regard the gap itself as equaling a number of trades. But for those on my side, it would be useful if there were an option in T&S to disregard the previous day's close and base new highs/lows on just actual trades made after the open. Or maybe it should really be that way by design?
Thank you for considering this,
jay
I tried to send this in the Request a Feature form but it wouldn't go through. Maybe it's too long.