Need help creating study that will plot high and low of FIRST Day of Month on chart

dmavro

Im trying to write a study that will plot the high and low of the 1st trading day of each month. Ive been playing around a bit and thought using SetRst was the correct route to go so I tried converting an Opening Range indicator I use. So far I have this for the high plot ....

time:=SetRst(Month(@) <> Month(@)[-1] AND Day(@)<;>Day(@)[-1],Day(@)<;>Day(@)[-1]);

A:=time+ (time=0 AND time[-1]=1);

B:= BarsSince(A=0,1,400);

hi:= HiLevel(@,B,0);

hi WHEN Day(@) = Day(@)[-1];

......It starts plotting on the 1st trading day and continues for about 6 more trading days but then it just stops plotting. I really dont know the "A" variable from my Opening Range indicator is doing therefore im not sure if i should be using it as is from the original study. Also, if someone has a different approach im open to all suggestions. Any help would be appreciated. 

Thanks,

Dean

matts

From one of our Product Specialists:

I wrote a condition to mark first day of month.

( LocalMonth(@) <> LocalMonth(@)[-1])

Wrote a study

High: MaxPrd(@,1) WHEN ( LocalMonth(@) <> LocalMonth(@)[-1])

Low: MinPrd(@,1) WHEN ( LocalMonth(@) <> LocalMonth(@)[-1])

These mark the bar on a daily chart and put lines at the high and low.

dmavro

Thank you for responding,

3 things...

The condition works correctly, but i cannot get the study to work. Im using the alpha platform not production so dont know if there might be an issue with that. When i created study on my system i created curves High and Low and inserted your  2 lines of code into each of there respective curves and only the low plots, plus the result is no where close. 

Third thing is that i completely forgot to mention that i need to be able to apply this study to intraday timeframes.

Thanks,

Dean

matts

Hi Dean,

Here is some additional info from the Product Specialists:

High(@),D when (LocalMonth(@)[0]<;>LocalMonth(@)[-1]

),D

For intraday first day of month high… it will plot 400 bars into the future which is a default in CQG.  The plotting starts on the start of the second day of the month.

matts

Dean,

Here are some more steps to take:

• Right-click on the single study line your chart shows
• Select Modify study
• Under display, make the high and low curves different colors
• Change "ShareScale" from "Auto" to "On" for both curves
• Then apply

Let me know if that helps!

dmavro

Your 2nd version worked fine. I was also able to get your original version working. Had to change it around a bit.

Original...

High: MaxPrd(@,1) WHEN ( LocalMonth(@) <> LocalMonth(@)[-1])

What worked for me....

High:= MaxPrd(High(@),1) WHEN ( LocalMonth(@) <> LocalMonth(@)[-1])

I also realized my version was working all along. 

The default 400 bar study calculation setting  was the culprit all along due to the fact that i was testing with a 5 minute chart.

Thank you again,

Dean 

admin

Ok Dean, glad to hear it's working.