On the Parameters tab of the Insert Study dialog, you can set the bases and input parameters for a study before you insert it. You can also choose whether the study will be updated (recalculated) on each tick or only after a bar has been completed. After you have inserted a study, you can still change these parameters in the Chart Properties dialog. You can also save your settings as default for this study by clicking the Set As Default button.
Note When inserting study columns into price pages, some more settings are available on the Parameters tab. You can for example choose the data compression that should be used, and define the number of records that should be downloaded for each symbol (time region). For details, see Adding, Removing and Customizing Study Columns.
The base is the symbol (security, future, index or else) or other study that the inserted study is calculated for. By default, TeleTrader WorkStation uses the symbol displayed on the chart as the base (in price pages, the current row symbol is used). You can change the base – the study is then re-calculated for the new base. Some studies need more than one base, for example Bearish or Bullish Divergence.
For calculating the study, not all elements of a base are needed in most cases. For example, the Moving Average Simple uses only the Close prices of a security. You can change the element that is used in the calculation, so you can for example calculate the Moving Average with the Open prices of a security.
Note When the FID column of the base displays All, more than one element of the base is needed for the calculation. In this case you can change the elements that are used only in the source code of the study.
▪ In the Data Object column of the base, click on the name of the symbol.
▪ From the list that appears, choose a symbol or study that is visible on your chart as your base. In price pages, the current row symbol will be used by default.
If you want to choose a symbol for your base that is not visible on the chart:
▪ Choose Other from the list. The Symbol Search dialog is displayed.
▪ Enter your search term in the first field on the left side and change the search settings, if necessary.
▪ Click on the green button or press the Enter key to start the search.
▪ Click on the symbol that you want to use as a base for your study.
▪ Click OK.
▪ In the FID column of the base, click on the base element that is currently used for calculation.
▪ From the list that appears, choose a different element for calculation.
▪ In the Data column of the base, click on the current entry.
▪ From the list that appears, choose Original if you want to use the original data transmitted from the exchange, or choose Display if you want to use the data as it is currently displayed in the chart.
For example, when you are using a Heikin Ashi chart, the setting Original will use the prices transmitted from the
exchange in all study calculations, and the setting Display will use the Heikin Ashi transformations of
those prices for all calculations.
At the moment, the setting Display has no effect when used for study columns in price pages.
Parameters are used as input values for the calculation of a study. For example, the Moving Average Simple has two parameters: period and shift. The parameter period controls the number of bars (time period) that is used for calculating the average; the parameter shift controls the vertical displacement of the Moving Average line in relation to the symbol.
You can change the way that a study is calculated by setting its parameters to different values. Each parameter includes a short description of what it does in the Description column.
▪ In the Value column of the parameter, click on the current value to make it editable.
▪ Enter the new value.
Note The new value must be set between the values of the Minimum and Maximum columns.
In the bottom part of the Parameters tab, you can choose whether the study should be recalculated on each new tick or on each new bar. By default, this option is set to Calculate on each new Tick. If you are experiencing performance problems on fast-ticking charts with many inserted studies, you can also change this setting to Calculate on each new Bar – the study will then only be updated when a bar is completed (depending on the data compression of the chart).
For the following studies, this option is set to Calculate on each new Bar by default. It is
recommended to keep this setting due to technical reasons:
Candlestick Pattern Recognition