Thermometer

[aleshi]

I was looking the thermometer formula, it seems a good tool to use, but I can not fined any appplication notes to follow it's usage, Can anyone tell me what is the purpose of this thermometer that put price bar %#, and different color code?
I send an email to David, it has been returned for wrong email address.

Thanks
Russ

[dloomis]

Hi Russ

Sorry for the confusion. Here is what the thermometer does.

On a minute, tick or volume based chart
a line will be drawn to the right of the price action

The zero point will be the low of that line will start at the low of the last 20 (user configurable) price bars and the high of the line will eventually end up at the high of the last 20 price bars.

The line will increment for every 1% completetion of the price bar's time, volume or tick inteval.

At 80% (user defined) the bar will change color from white/black to red/yellow to alert the user the end is near - the end of the bar I mean.

On time based bars, ie 5 min, the user can display the number of seconds remaining in the bar, instead otf the % completeion, by changing the ShowSec var to 1 from 0.

The user can sound and alarm at the 80% level by changing the SndAlm variable to 1 from 0.

Probably a few other goodies in there but if you need any more help, just ask. I try to do what I can, when I can.

Remember, I do this for fun.

The attached has a few enhancements probably not immediatly obvious to the user, but it works better. Will probably 'cpu optimize' the code soon, once I get the operation the way I want.

PS [email protected] should still work.