TrendSpider Software Update: Upcoming Raindrop Chart Update Side Effects
This is a follow up post regarding upcoming changes to how TrendSpider computes Raindrop Charts. Please note that this post contains important information that builds upon our previous post on this matter.
This Saturday, the 30th of January, 2021, we will be updating how TrendSpider computes Raindrops for generating Raindrop Charts. This change will impact a number of areas of the platform when used with Raindrop charts. Please see below for details.
As indicated in the previous post, TrendSpider will be modifying how Raindrops are rendered on low liquidity symbols and lower timeframes. This specifically impacts candles/Raindrops where the Open, Close, High and Low are the same value (“Dashed” candles). Whenever a Dashed candle appears, currently, TrendSpider will ignore and skip it. Going forward, this will not be the case and TrendSpider will more appropriately render such Raindrops on Raindrop charts. This will impact the following areas of the TrendSpider platform, but only on Raindrop charts, and only on low liquidity symbol and timeframe combinations.
- Charts will contain additional Raindrops for periods of time where they previously did not. This is because TrendSpider will no longer ignore such Raindrops. This will result in additional bars on the chart.
- Additional bars on the chart will impact Trendlines that are drawn on that chart, specifically Trendlines drawn connecting a primary point in the past to a secondary point in the future. Please note, in this context, the word “trendline” refers to Rays and not Segment lines.
- Indicator calculations on Raindrop charts will be impacted and the waveform of indicators in the past may change to support the additional Raindrops that are now being incorporated in the charts.
- Alert markers on previously fired alerts may move to a less logical spot on the chart. Since the alert has already fired, this should not impact anything going forward, but it is worth noting this as it may change the appearance of the previously fired alerts on your charts and lead to some possible confusion.
- Backtest results will change and backtest entry and exit markers may move in the same way that past alert markers may move. This can be corrected by re-running the backtest and clicking See On Chart again after the change is made.
- Default zoom levels on your charts may adjust to support for additional Raindrop rendering.
- Scanners may yield slightly different results when run before and after the change is effective in the system. This should only impact scanners that look at historical Raindrop chart data, which is a small percentage of all scanners. Re-running the scan will correct the issue.
- IMPORTANT: Any Trend Line Alerts created on Raindrop charts, especially those on illiquid names and/or using lower timeframes, will need to be reviewed and recreated by the user in order to ensure their reliability.
If you only read one line above, please read line #8. This is important if you use TrendSpider Dynamic Price Alerts on Raindrop Charts.