A questions about Timeframes....
Is it possible for me to use, for example, the iRSI function below...
and compare it to:
even though I'm running this on a 1 HR chart?
If I ran a "Comment("RSI_1HR, RSI_4HR) and had it run on my 1 hr chart would it display and move the data of the 4 hr RSI into it's variable even though I'm not running it on the 4 hr chart...I'm running it on the 1hr?
Does this make sense?
I'm trying to see if I can have an EA that can compare the two time frames while running it off of the 1 hr chart and I'm not sure if it will grab the data from the other time frame. Any ideas?
Thanks,
-Ron
Yes it would, by changing the indicator period you can read RSI data from any TF while on a chart of any TF... thats the whole point of having a period parameter in the iCustom.
BUT is it a smart thing to do?? Maybe not...
Just be aware that if your indicator reads bar0 from a (any) higher TF you'll be peaking well into the future while running it in the Tester, because the Tester always have the complete higher TF bar available in History Data.... Your data will look "amazingly good".
On forward testing its a totally different matter... at any given time bar 0 of any higher TF is not fully formed, and you'll be getting realistic data, which isn't nearly that "amazingly good" !
But if your iCustom reads bar 1 or earlier of a higher TF you should have good confirmed data, which of cource will be lagging significantly.
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Is it possible for me to use, for example, the iRSI function below...
and compare it to:
even though I'm running this on a 1 HR chart?
If I ran a "Comment("RSI_1HR, RSI_4HR) and had it run on my 1 hr chart would it display and move the data of the 4 hr RSI into it's variable even though I'm not running it on the 4 hr chart...I'm running it on the 1hr?
Does this make sense?
I'm trying to see if I can have an EA that can compare the two time frames while running it off of the 1 hr chart and I'm not sure if it will grab the data from the other time frame. Any ideas?
Thanks,
-Ron