New article Liquid Chart has been published at mql5.com:
you like to see an hourly chart with bars opening from the second and
the fifth minute of the hour? What does a redrawn chart look like when
the opening time of bars is changing every minute? What advantages does
trading on such charts have? You will find answers to these questions in
Once I noticed that charts with the H4 timeframe and higher looked
different at every broker's. The reason behind it was that the brokers
were located in different time zones. In some cases certain parts of the
same charts were significantly different in spite of a small difference
between time zones. On one chart there was a distinct reversal pattern
and the same part of the other one did not represent any precise
Then it crossed my mind to write an indicator which would redraw the
H1 chart so that there is always a complete closing bar on the right.
The M1 period was chosen as a source of prices. As a result, an hourly
chart was redrawn every minute and in an hour I had 60 varieties of the
same hourly chart. Its form was changing in a smooth and flowing manner
revealing hidden patterns that the initial pattern did not even have a
I called this indicator "liquid chart" for its specific appearance.
Depending on the plotting mode, the chart "flows" (gets redrawn) either
when a new bar of the basic period appears or when the value of static
shift gets changed. In this article we shall consider the principles of
plotting a "liquid chart", then write an indicator and compare
efficiency of using this technology for Experts trading by indicators
and Experts trading by patterns.
Before we start, we are going to define the terms.
Shift is a difference between opening prices of the resulting chart bars and the opening prices of the source chart bars.
Current timeframe is the timeframe of the source chart.
Basic timeframe is a timeframe with prices we are going to use for forming bars of the resulting chart.
Basic period cannot exceed the current one. Current period must be
divided by the basic period without remainder. The greater the ratio of
the current timeframe to the basic one, the more different variations of
the resulting chart we can get. However, if the ratio is too large,
then the historical data of the basic timeframe may not be sufficient
for drawing necessary number of the resulting chart bars.
There are three types of plotting a chart.
In the static shift mode, opening times of the bars are shifted by
the set time. Dynamic shift in the opening mode makes it look like a bar
has just been opened and in the closing mode as if the bar will be
Let us have a closer look.
Author: Serhii Shevchuk