The Show Plot tool displays as an indicator using the same scale as the price chart, calculated using a specified formula. For example, the red line in the image below plots the 52 week high price using the following formula:
HIGHESTHIGH(BARS=52, BACKTYPE=Weeks, INCBAR=True)
For more on using the Optuma Scripting Language sign in to our free video courses here.
To add a Show Plot to your chart, select the tool from the Price tool group, and click on the chart to add the tool. Optuma will then draw the Show Plot on your chart using the default settings.
Saving the Script as an Indicator
It’s possible to save the script as an indicator and add it to your toolbox. In the Script Editor window tick the Use as an Indicator box to be applied to the SameTool View.
You can then apply the tool from your toolbox and change the properties (colours, line width, etc) and Save Settings as Default under Actions, or add it to your toolbar as a custom button.
Actions & Properties
Add to Toolbar: Click this action to add the selected Show Plot to your custom toolbar.
Apply to All: This option expands to display the following:
- Current Chart - If you have more than one occurrence of the tool applied to your chart, selecting this option will apply the properties of the current selection to the other tools.
- Current Page - If you have more than one chart on the current page and the Show Plot is applied on each, then this option will transfer the currently selected property settings to each tool.
- Current Workbook - For each chart that has the Show Plot tool applied, this option will transfer the selected tool’s property settings to each tool on every chart in your workbook.
Copy Tool: Allows you to copy the selected Show Plot formula, that can then be pasted onto a different chart window.
Move to Back: This option allows the selected item to be positioned behind the chart.
Move to Front: This option allows the selected item to be positioned in front of the chart.
Restore Default Settings: Click this action if you have adjusted the default settings of the Show Plot, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the Properties (colour, for example) you can save the adjustments as your new default setting. Each time the Show Plot is applied to a chart, the tool will display using the new settings.
Delete: Delete the Show Plot formula from the chart.
Tool Name: Allows you to adjust the name of the tool, as it is displayed in the Structure Panel.
Formula: This provides access to the Script Editor. Here you can create the formula that will control how the Show Plot tool will display on the chart.
Use Start Date: Selecting this option will allow a nominated start date to be used for the Show Plot tool.
Start Date: This option is available when Use Start Date is selected. This will display a calendar where the desired start date for the Show Plot tool can be selected.
Plot Style: Allows you to change how the tool is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
Fill Colour: When the Plot Style is changed to Shaded you are then able to alter the Fill Colour for the Show Plot tool.
Line Style: The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to select the colour of the line. Clicking on the drop-down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Transparency: When the Plot Style is changed to Shaded, you then are able to adjust the shading transparency. Moving the slider to the left will increase the transparency of the tool.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Visible: Un-tick this checkbox to hide the tool from the chart.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Below are two examples of formulas that can be used with the Show Plot tool:
MA(BARS=20, CALC=Close) * 0.95
The green line is plotted on the chart 5% below the red 20-period moving average:
HIGHESTHIGH(CLOSE(), BACKTYPE=Weeks, BARS=52, INCBAR=True)
The red dashed line shows the highest closing price over the previous 52 weeks: