11/30/2021 |
TrendSpider Software Update: Upcoming Improvement to Anchored Indicator Multi-Time Frame Support
Hello Everyone, and welcome to another software update post. In this update, which will be released later this week, we will be changing how Anchored VWAP Manual (date) anchor points work across timeframes. More details below the jump.
We will soon update how Manually Anchored indicators work on time frames that are different from where they have been originally created. Indicators that are affected: Anchored VWAP, Anchored OBV, Anchored Acc/Dist. Please note that only indicators which have been created via right-clicking on a candle will be impacted; automatically anchored indicators will not be impacted.
Because this update is a change to an existing feature, it is being announced in advance to give you time to review. The update will be released on the TrendSpider platform on Wednesday, December 1st, 2021.
Before the Update
When you anchor a VWAP on a timeframe (say daily) and then switch to a higher timeframe (say weekly or monthly), if the anchor point is in the middle of the period (say a Wednesday), the Anchored VWAP will appear to be anchored to the next candle on the higher timeframe. This means if you anchor on a Wednesday, then move to a Weekly chart, the Anchor will be connected to the following Monday. In other words, the anchor point is shifted to the right by 1 candle. This is because when anchored in the middle of a candle, the system does not have the ability to replicate on the higher timeframe precisely.
After the Update
The behavior has been modified to improve the anchor point and put it on the candle which includes the time stamp you’ve anchored to (instead of the “always next candle”). In the example above, if you anchor on a Wednesday 24th Nov 2021, then move to a Weekly chart, the Anchor will be connected to the Monday 22nd Nov 2021 (instead of Monday 29th Nov 2021, which would have happened before this change).
Please note: Any existing Manually Anchored indicators will be affected by this change, including indicators with alerts attached to them.
