01/19/2021 |
TrendSpider Software Update: Upcoming Upgrade to Raindrop Charts (Advance Notice)
In a few days’ time, we will be updating the way that TrendSpider calculates Raindrop charts in order to improve the functionality of Raindrops on low liquidity names and lower timeframes. This is one of several upgrades we have planned. Because this update can impact your charts and, if you have created alerts, your alerts on the charts, we wanted to give advance notice of the change.
What is changing?
We are updating how Raindrop charts account for assets with low price liquidity and trading volume to better reflect the true picture on these charts. This change primarily pertains to how the system handles periods of time with just a few trades that do not present enough information to properly render a Raindrop. Specifically, this will impact any chart where there are candles with the Open, High, Close and Low all being the same value, as it is often when no trading or a single transaction has occurred on an asset at the same price during an entire period of time.
How will this change my charts?
Please see the following two examples:
Before
After
You will notice that the AFTER example features more red and green Raindrops, as well as more Raindrops overall. This is because the previous calculation would ignore and skip over candles where the OHLC were identical and thus not properly generate Raindrops for these candles. This has been changed so that the system will actually render them. We have also improved how the system handles low liquidity Raindrops where there are more trades than this and a wider range, but still not enough to calculate a proper Raindrop. This would result in more blue on the chart than necessary, which is going to be resolved in this update.
How will this impact my alerts?
If you have created any alerts on Raindrop charts, it is possible that the Trendline or average you created the alert on has moved or shifted as a result of this change. We strongly recommend that you review any alerts you have created on Raindrop charts after this release is updated to make sure they match your desired conditions properly.
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