one question regarding price calculation,at any chart with any tf and pair...... bars and or candles are calculated with any or a combination of from 4 price type values (open,close,low and high)...my question is, how line chart is calculated,if with close price value only or (open+close+low+high/4) value ?
The difference is that, for example stochastic, adx and some more use 3 prices/value in calculations, some step algorithms allow 2 prices//value, while, for example, average simply uses one price/value - there is no place where to use more than one price value. So it depends on what is calculated how much prices/values can be used. So it is not a matter of price/value, but a matter how many of those prices/values can be used, at the same time - not as some average value (like the (open+close+low+high/4)), in calculation
sorry i was unable to exact explain my question.
thanks for explained reply,what you described,it is about when we use some indicator,i want know when no indicator applied,how the line graph form/move at chart as price line......when a simple/empty (without any indicator) chart is in bar and candle mode,it forming bars and candles showing (open,close.high,low),so when we apply line graph mode,what i observed,it form line from previous close to current close and so on,close to close....so my curiosity is about line graph chart,if line forms with close price,in other words line graph charts forms with close price only,so it is a price line of close value price.
Yes, metatrader line graph uses only close prices
This is a macd averages tape, the indicator will place a dot on the macd line when the macd and signal cross, and will color the zero line with another type of dot for zero line crosses and will stay in that mode until a zero cross in the other direction happens. The tape bars are colored when the difference in the macd and signal is increasing(gaining momentum) and if the difference is decreasing(momentum slowing) they change color. The macd can be calculated using the latest averages with the double smoothing method.
Macd averages tape.ex4
really a great and nice tool,much thanks for pretty work.
It is very good visually helping idea, I suggest to add vertical lines instead dots or arrows when the zero line color are changed its mode
Then the line would take 3 buffers instead of 2 (otherwise it would repaint). I believe that mrtools did it that way to make it as simple as possible for usage
Perhaps there is misunderstanding due to my poor explaining what I meant, however, the given figure may explain my idea, what I meant is just vertical lines to be displayed when zero line is changing its mode.