The FML indicator is one of the most useful and handy indicator in NeoTicker. Whenever you need to get some customized calculation done in a chart, it is the first tool to try out.
One of the unique capabilities of NeoTicker indicator is its ability to process multiple time frame (MTF) information easily. I am going to explore the basic techniques of using MTF within formula indicator.
We will talk about the more advanced features in the formula language that deals with multi-plot indicators.
I am going to discuss the use of Local Variables in formula indicators. I will also demonstrate the programming technique called recursion that can help resolve many problems related to indicator programming.
So far we have worked on indicators with a single statement only. Although that can create many useful indicators, it may not be enough if we need to create indicators with multiple plots, or results that depends on multiple intermediate values.
The ability to reuse existing indicators within your formula is one of the most powerful feature of the formula language. Your formula indicators can in turn be reused by other indicators once they are installed into NeoTicker. This creates a very flexible environment for the development of complex indicators from simpler building blocks.
Indicators can be linked to multiple series and perform computation across all these series, no matter the linked item is a data series or indicator series. One of the most common usage for linking with multiple series is spread analysis. I am going to show you a basic formula indicator that calculate the spread between two data series with user customizable weightings.
One of the very important aspects of indicator is using parameters. Parameters are information provided by you, the user, to modify the behaviour of the indicator. We will walk through the basics of defining parameters, and then we will take an overview of accessing primary series information.
I am going to talk about how we write indicators in NeoTicker using the formula language.
Indicator writing is an involving process and its complexity is higher than the more straight-forward quote formulas that I have written about in the Formula 101 series. If you have not spent some time learning the quote formulas, you may want to do so now as I will walk-thru the basics I have covered in Formula 101 at a faster pace.
For this tutorial, I will focus on necessary steps to indicator writing.
Remember that indicator writing is a more complex concept and tutorials in this series will be more involving than Formula 101. So be prepared to spend more time to learn the concepts and techniques.