Detailed Software Information
DG2 “Day-on-Intraday ” software
DG2 “Day-on-Intraday” Software Enhancements
A number of the new DG2 software packages have enhanced daily-on-intraday charting capabilities. These are included in the following: Plot, Professional, the Specialty Suite programs, and Alert.
TradeStation does a good job of charting intraday data flows, and a good job of plotting daily data flows. But overlaying the daily data onto intraday charts is problematic. The native TradeStation default is to build daily data from the intraday time or tick bars and then plot it on the intraday chart. The problem arises in that on many exchanges the daily close can be substantially different from the close shown on tick data or minute data, due to the operation of the 24 hour markets or other factors.
If a trader is trying to coordinate the levels found on a daily chart with daily levels found on tick charts then he will be frustrated as they are likely to be substantially different. This varies widely from market to marketâ€¦ on the E-mini it is a non-existant issue as the closes are identical. But in T-Bonds or Soybeans the close can be very different and thus the day-on-intraday overlay is widely divergent from the daily chart.
We have developed a way around this dilemma and we use it to apply full accuracy to our intraday DG charts. The solution is to draw daily data from another location within TradeStation and apply it to the intraday chart. Simple, what? Howeverâ€¦..
As in all things relating to trading data the situation can be more complex that it appears at first. Tick data and time data cannot be displayed on the same chart, and this means that the situation of tick and time-based intraday charts is different.
Because the principles and techniques involved in setting up this new day-on-intraday charting accuracy are the same from package to package we have collected this set of instructions in a single document and also have a single configuration video posted below. This movie uses the “Pipes” software as an example but the procedure is the same for all of the DG2 software products.