Action Zones

[Simon.B]

Hi Earik,

I see this quite often but don't know why it happens or how to rectify it.

Both charts are ES regular session, 5 and 45 min. It is easy to see that Action Zones values are different. I see this kind of difference
in Action Zones between short and longer time frame RTH charts all the time. Not sure which ones are correct.

Simon

[Feinberg]

Hi Earik,

Wouldn't you know it, I am getting the same results and discrepancies as Simon.

On my end, the Actions Zones on the ES, RTH are the same on my 3 minute chart and my 15 minute chart.

But when I go to my 45 minute chart, there is Disagreement. The Action Zones on my 45 minute chart do not agree with my 3 minute or my 15 minute.

I noticed that the Opening Price my the 45 minute charts DO NOT AGREE with the Opening Price on my 3 minute or 15 minute chart.

Joseph

[Simon.B]

Hi Joseph,

Not until just now when I read your post something occurred to me - "Build using 1 min. bars" was enabled on one of my charts but not the other, and that's where different opening prices came from, once I changed second chart to build with 1 min bars - both charts display same Action Zones values. So I guess no action is needed Earik, not sure one was coming anyway , but all good now.

Simon.

[Feinberg]

Dear Earik and Simon,

I disagree.

On my end, the error occurs when you use a price bar starting with 32 minutes or higher!

A price bar of 30 minutes has the same Action Zones as a 3 minute or 15 minute chart.

A price bar of 31 minutes generates the same Action Zones as a 3 minute or 15 minute chart.

But when you start with 32 minutes or higher, the Action Zones do not agree with the smaller time frames. They give different readings.

A time frame of 32 minutes will have different Action Zones than a 33 minute chart. Why? Because the software has a different Opening Price. If you make a 45 minute chart, it will have a different Opening Price than a 40 minute chart.

Data: DTN-IQ Feed, "Build 1 minute Bars" is left unchecked in all cases.

Higher times frames, starting with 32 minutes each has a different Opening Price causing the Action Zones to generate respective different levels.

SUGGESTION: Just use the smaller time frames for your Actions Zones for now.

Joseph

COMMENT: I kinda feel with all the things we have to do, we have to spend time now on a minutia detail such as this? Where is my barf bag?

[earik]

So I guess no action is needed Earik, not sure one was coming anyway , but all good now.

Glad you got it working. I wasn't looking forward to trying to figure out what was up there, but the 1-min bars make sense. Action zones are very sensitive to open/close/high/low values, so if those change even by one tick, you'll get all sorts of different values. Sounds like Joseph opened up a whole new can of worms with his 32-min bars, which I'll have to check out.

Regards,

Earik

[earik]

Hi Joseph,

I'm unable to reproduce your 1min bar issue. The whole point of adding the "build using 1-min bars" option is to align the ohlc values according to the start/end times on your chart, which might be different than what is calculated by your data vendor. This was a big deal at one point using 8min bars and the old integrated feed, which is where it first showed up. As long as you have that checked, all time frames will align, and all action zones will match.

Here's my 5-min vs 33-min chart, with identical action zones:

joseph_33min_actionzones.png (45.04 KiB) Viewed 6548 times

Double-check your settings. I think one of your charts isn't being built with 1min bars.

Regards,

Earik