Indicator on Indicator applied to a chart

Symbolik allows you to apply indicators and conditions to price data as well as other indicator instances. This can be particularly useful when analyzing alternative data sets or smoothing results, among other things.

In the example below, note that the popular DeMARK study, Sequential, is applied to another study, Alma. This relationship is displayed as a nested tree structure within the chart’s HUD menu and the Manage Chart Tool menu.

Within charting, indicators can be applied to indicator instances from the new 'Add chart tool' feature. This multi-step interface allows you to select the symbol or indicator output to which you want to apply your study or condition. To begin, access the Add Chart Tool menu from the following:

• The ellipses menu in the lower right corner of the chart
• Right clicking the background of the chart
• The HUD ellipses menu
• Chart tool instance ellipses menu

Chart tools can also be applied to studies and conditions from the Condition Builder, making conditions even more advanced.

Condition on Indicator applied to a chart

You can also apply a condition to the study.  As in the example above, if you want to know when there is a Sequential 13 as applied to the Alma study on your chart, but you do not want to display the full Sequential on Alma indicator on indicator.  You can apply a condition to find Sequential 13's to your Alma Study.

Indicator on Indicator used in Conditions

Indicators can also be applied to other indicators within the Condition Builder, making conditions even more advanced for customized use.  Symbolik Scripting Language (SLANG) is the mechanism that makes this possible.  Learn more about SLANG.

In this example, we are looking for a Sequential Sell Countdown13 as applied to the Alma study.  Once the condition is built, you can apply to the chart or you can use in Scans and Alerts.

To build a condition using indicator on indicator logic, you start by building the condition regularly to find a Sell Countdown 13, and remove the Offset and replace with a Datum.  The offset identifies which price bar to apply condition to and is indicated by using brackets [ ] in the formula. After removing the offset's brackets, type a parenthesis " ( ) " to begin the datum parameter.  Inside the parenthesis, enter the study (Alma in this case) that we want to apply the Sequential indicator to.  The Alma study will include the offset to indicate which price bar the condition applies.