NeoTicker Blog

NeoTicker’s indicator object model has the ability to manage profiles and produce statistics of the profiles easily. Here is an example on utilizing the object constructs for a foundational indicator, Profile Average.

Profile Average

Here is the Profile Average indicator.

Within the indicator, we have used the heap object to memorize the bars that we have saved volume information into the profile. That way, we can easily remove the volume information from the profile using its built-in method PriceProfileRemovePriceRange.

But what do we save so that in the future we will be able to take off the volume information outside of the moving window? The trick is to save up the current barsnum index. This value is unique for every bar within the data series thus we can easily use it to construct the number of bars ago reference needed for the access to the previous high, low, and volume data.

How does the Profile Average look like, comparing to Volume Weighted Average?

Here is a chart with both Volume Weighted Average and Profile Average,

Classic volume weighted average indicator takes only the close of the price series as the price reference point, thus making the volume weighted average reacting faster than it should when there is a sudden price jump. With profile average, we are able to control the average to react to the price jump in a slower and smoother transition.

Summary

The Profile Average indicator is just an example to show case how to construct profiles within the indicator object model. Once you are able to properly manage profiles within your indicator, you will be able to do more complex analysis like profile comparison. We will talk about more advanced programming techniques using the profile in the future.

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