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Custom Indicators

The timetotrade Charts can be used to create custom indicators, without having to know how to write complicated software programs. It is also possible to share custom indicators with others and import shared custom indicators.

To create a custom indicator a simple starting point is to change the source data for an existing indicator. For example, if you wanted to calculate the trading range on the Momentum indicator using Bollinger Bands®, change the Source Data for the Bollinger Band from 'CLOSE':

Bollinger Band Custom Indicator 1.png

by clicking on the Source Data field and searching for the Momentum Indicator:

Bollinger Band Custom Indicator 2.png

Then adjust the Momentum indicator settings by clicking on the arrow to the right of the Source Data:

Bollinger Band Custom Indicator 3.png

Creating Custom Indicators

A selection of mathematical functions are available for creating custom indicators. The mathematical functions can be combined and applied to open, high, low and close prices, volume or other indicators such as RSI. The following provides an overview of these functions:

Add Adds two values such as add the Open price to the Moving Average
Subtract Subtracts two values such as the lower Bollinger Band from the upper Bollinger Band
Multiply Multiplies two values such as the price by the volume
Divide Divides two values
Past Gets previous candle values such as yesterday's close price or the open price three days ago
Absolute Gets the mathematical absolute value e.g. if the value is negative, that will be changed to a positive number
Maximum Get the maximum of two values; for example if price is greater than the moving average using the price and if the price is less than the moving average, then use the moving value
Minimum Minimum of two values
Round Rounds the value to the nearest whole number; for example 9.4 is rounded down to 9 and 9.7 is rounded up to 10
Floor Rounds the value down; for example 9.7 is rounded down to 9
Ceiling Rounds the value up; for example 9.4 is rounded up to 10
Power Applies the mathematical power to a value; for example if the value is close price of 2 and the power of 3 is applied to the price, the resulting value will be 8
Square root Gets the square root of a value; for example if the price is 16 pence and the square root is applied, the resulting value is 4
Sum Gets the Sum over a range of previous candles; for example get the sum of the last 10 close prices, then divide by 10 to create a moving average
Highest Get the highest value from a selected a range of data; for example if creating a trailing stop, this function could be used to get the highest low price over the last 10 candles
Lowest Get the lowest value from the selected range

As an example an indicator will be created to calculate the difference between the 10 Period Moving Average and the Close price. The formula for this example will be:

To implement this formula, the subtract mathematical function will be required. Go to the chart settings, click on 'Add Indicator' and search for 'Subtract':

Custom Indicator Delta 1.png

In the Subtract 'Value 1' field search for the 'Moving Average':

Custom Indicator Delta 2.png

Adjust the Moving Average to use 10 periods, by clicking on the arrow to the right of the Value 1 field:

Custom Indicator Delta 3.png

Now change the Subtract 'Value 2' field to the 'Close' price, by clicking on the Value 2 field and searching:

Custom Indicator Delta 4.png

Name the indicator by changing the 'Legend reads' text field, to for example 'Delta':

Custom Indicator Delta 5.png

Lastly drag the newly created indicator into a secondary chart by clicking on it and while holding down the mouse button, drag the indicator down to reposition it:

Custom Indicator Delta 6.png

For further help on how to create custom indicators please click here to view the chart tools and follow the interactive tutorial on the Chart Settings by clicking on the blue question mark as illustrated:

Custom indicator tutorial.png

Importing Custom Indicators

To import a custom indicator, select the chart settings and click on 'Setting Profiles' button in the bottom right corner as illustrated.

Import 1.png

Then click on the 'Import Profile' button in the popover and enter the import code as illustrated:

Import 2.png

Click on the 'Import' button to import the indicator and then click on the 'Save Settings' button to save the newly imported custom indicator:

Import 3.png

Sharing Custom Indicators

To share a custom indicator, view the Chart Setting Profiles and click on the 'share' button for the selected Profile as illustrated:

Share custom indicator.png

The code for the custom indicator will be displayed. This can then be copied and given to other timetotrade users.

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