Radar Workspace from Sniffy

There are times when I only want to look at the current number or ratio of a given instrument, when I don’t need to see a line or chart. Here is one way of setting up a chart to minimize the desktop space used in such a situation. I will use the advance-decline ratio to illustrate.

I use IB as a datafeed so for the NYSE the symbol name is $AD-NYSE. Here are the steps I go through

Set up the chart as usual. I use a 1 minute timeframe but you can obviously choose what suits you. Double click on the chart and uncheck all the “show” properties (Bars, Bar Data Panel, Study Data Panel and Tick Count).

Now right click on the chart, select “show” and uncheck the “Scale and Time” selection.

That should give you a minimal chart window with no time or price scale and no bars or data panels.

Now add the DYO that shows the numbers you want to see.

The following DYO calculates the advance/decline ratio (advancing issues/declining issues) as well as the spread (advancing issues – declining issues).

You may notice that there are no “Show” markers checked. This is because the output is via the Section message location. The message text is setup to show the ratio and spread values calculated in lines E and F. Change the font size in line B according to how large you want the final text to be. This needs to be tuned to the final size that you want the window to be.

I found it important to use section 3 for the message output as this ensures that the text will be centered in the window when you resize it to show only the bottom section in the chart window. This is what you now do.

First, left click in the bottom section and pull the section right up to the top of the window so that you can’t see any of the main chart area (which of course is blank).

Your chart may look something like this on the left before you adjust it.

Now grab the bottom right chart window corner using left-click once you can see the little double arrow marker when you mouse-over the window.

Hold the click and drag the window to the size that you want to see. As you do this, just ensure that the bottom section fills the entire window.

When you finish it should look like this on the right. You’re done.

Using this technique you can create a kind of “radar screen” section on your desktop that shows at a glance any key numbers, ratios and so on.

The attached workspace shows this for Tick, Trin, AD ratio (using Issues) together with Spread as above, and finally for AD Ratio using advancing volume and declining volume (I call it vRatio to differentiate from the ratio using issues, iRatio).

With a few simple extra DYO commands you can easily setup a more sophisticated regime to change the output color and fire off alarms upon reaching key levels.

Remember that the symbols used here are for IB, you will have to change symbols according to your data feed needs.

Hope this helps.

Sniffy.