Basic Indicators

To create a Basic Indicator, select "Indicators" on the left and click the "New" button. This will bring up the new indicator dialog:

This is the name which will be used to access the indicator in a script. In this case we named our indicator averageClose. We can use this like a variable in our scripts, with or without indexing. You can use any name here that complies with the rules for creating variables.

Using the indicator name without indexing refers to the most recent available data, today. Example:

There are many built-in indicators listed below. Each of these may require Parameter values, so set these up first if applicable.

Calculated		See Calculated Indicators for more information
Bar Value		the Value assigned to the indicator like "High + Low / 2"
Bar History Value		the historical Value of the indicator
Simple Moving Average		a Simple Moving Average of the Value
Exponential Moving Average		an Exponential Moving Average of the Value that primes with a simple moving average of the Value, and then uses the ema smoothing constant thereafter.
EMA Alternate		an Exponential Moving Average of the Value that primes with the Value itself on bar 1 and uses the ema smoothing constant only.
Keltner Upper		the upper channel of the keltner band. Uses an atr based channel width from an ema. Both the atr and ema are computed in the alternate fashion, with the bar 1 values as the prime value.
Keltner Lower		the lower channel of hte keltner band.
Bollinger Upper		the upper channel of the bollinger band. Uses a standard deviation based channel width from an ema. Both the sd and ema are computed in the alternate fashion, with the bar 1 values as the prime value.
Bollinger Lower		the lower channel of the bollinger band
MACD - MA Convergence Divergence		the MACD for the value. The short moving average minus the long moving average. Uses the simple moving average to prime the short and long exponential moving averages.
MACD Alternate		the alternate version of the macd, using the bar 1 value as the prime value rather than using a simple moving average.
Average True Range		the EMA of the True Range. Computes a simple moving average to start, then an exponential moving average.
Average True Range Simple		the SMA of the True Range
Standard Deviation		the Standard Deviation of the value of N bars
Standard Deviation Log		the Standard Deviation of the log of the ratio bar change over N bars
Highest Value		the Highest Value for N bars
Lowest Value		the Lowest Value for N bars
Stochastic Oscillator		the %K Stochastic Value for N bars
Stochastic Oscillator Slow		the %D Stochastic Value for N bars
Stochastic Oscillator Full		a smoothed Stochastic
Accumulation/Distribution		a volume-based momentum indicator
ADX - Average Directional Index		J. Welles Wilder's trend strength indicator
DI+ - Positive Directional Indicator		J. Welles Wilder's Positive Directional Indicator
DI- - Negative Directional Indicator		J. Welles Wilder's Negative Directional Indicator
RSI - Relative Strength Index		J. Welles Wilder's momentum indicator
Parabolic SAR		J. Welles Wilder's entry and exit indicator

Open		the open for the bar
High		the high for the bar
Low		the low for the bar
Close		the close of the bar
High + Low / 2		the average of the high and low
High + Low + Close / 3		the average of the high, low, and close
OHLC / 4		the average of the open, high, low, and close
Volume		the volume for the bar
Open Interest		the open interest for the bar (futures only)
Unadjusted Close		the unadjusted close for the bar
Extra Data 1		the value of the extra data 1 field for the bar
Extra Data 2		the value of the extra data 2 field for the bar
Not Applicable		Used for cases like the Average True Range, which do not require a value input

For example, a "Simple Moving Average" indicator that used a value of "High" would be a simple moving average of the instrument's high.

Most types of indicators require numeric constants for their computation. For instance, the MACD indicator requires the days for the long and short moving averages. You can select from a list of Parameters that you have created, or you can choose "Enter Value" and enter a constant value in the box to the right.

For many indicators, there is a final option called "Smoothing." This option will smooth the indicator by the bars indicated, using the EMA formula. If you enter 1 for the number of bars to smooth, there will be no smoothing.

Example: To create an RSI indicator with a smoothed signal RSI line, create two indicators, one with smoothing, and one without.

Set the scope based on what blocks and scripts need access to this indicator. If you set to Block scope (default) only the scripts in the block will have access. If you set to System scope, then all scripts in all block in the system will have access. When System Scoped, for other blox to access this indicator an IPV Series variable must be declared in the other blox with the Defined Externally in another Block checked. This will tell the parser that the variable is defined elsewhere.

Check to have the indicator plotted on the trade chart. When you plot an indicator on the trade graph, you can select the Display Name, the Color, and whether the indicator should be offset by one day.

Check to have the indicators value displayed in the right panel of the trade chart, as the cross hairs are moved by the mouse or cursor. By clicking on the indicator name on the trade chart, plotting can be dynamically enabled or disabled. The indicator can also be removed from the chart.

This option shifts the indicator ahead one day. This is useful when your indicator is used for stop or limit orders, and you want the indicator to visually cross the bar as an indication your order was hit. This is only a visual change on the graph, and does not change the calculations or results.

The text in this field will determine where the indicator is plotted. If you select "Price Chart" the value will be plotted on the price chart area. If you select any other text value, it will create a new chart and put the indicator there. You can have multiple indicators on the same chart area.

The maximum amount of bars required to prime this indicator plus one will be added to overall priming. If the indicator is a 10 day moving average, then the first day scripts will run is day 11. Overall priming is the maximum bars required for indicators plus one, plus the maximum lookback parameter plus one.