Quick-tip 32 | Creating a function to regulate the number of drawing objects

Quick tip tutorial 32 demonstrates the use of a function that, when called by an analysis technique that creates drawing objects, ensures that there are never more than the input number plus one drawing objects created by that analysis technique, on the chart.

The function is called using the following syntax: Condition1 = QuickTip32( Num ); where Num is an integer, for example,

Condition1 = QuickTip32( 4999 );

The example indicator and function can be downloaded by Gold Pass members, below.

This quick-tip follows the same subject area as quick tip 31, i.e. managing the number of drawing objects drawn on a chart. To demonstrate the function I have created a simple indicator that draws an ellipse, a rectangle, a vertical line, a horizontal line, a trendline and some text on each bar. The indicator calls the function and the function makes sure that there are no more drawing objects of a certain type than its input value.

This quick-tip uses the new TradeStation drawing objects, as opposed to legacy drawing objects. It does not apply to MultiCharts users.

The function works as follows. It the number of a particular drawing object is over the input value it deletes the oldest drawing object of the same type, using the following syntax:

DrawingObjects.Delete( ( DrawingObjects.Items[Ctr] astype Vector )[0] astype DrawingObject );

DrawingObjects.Items[Ctr] astype Vector is a vector that contains all the drawing objects of type Ctr. In the function I use the following types with the corresponding reference number:

  • TrendLineCreatedByAnalysisTechnique 1
  • TextCreatedByAnalysisTechnique 4
  • RectangleCreatedByAnalysisTechnique 7
  • HorizontalLineCreatedByAnalysisTechnique 10
  • VerticalLineCreatedByAnalysisTechnique 13
  • EllipseCreatedByAnalysisTechnique 16

So DrawingObjects.Items[4] astype Vector is a vector of text objects created by an analysis technique.

The drawing object in the zero position of the vector is the oldest. Notice the use of astype in the syntax.

Quick-tip 32 video

Gold pass download

This content is for Gold Pass members only.

Disclaimer The information, materials, products and services on this Web site are made available subject to the following terms and conditions. Markplex Corporation reserves the right to change these terms and conditions at its sole discretion. This Web site and any downloads, videos, tutorials, programs and information contained herein is presented solely for educational, informational, and/or entertainment use and under no circumstances should be used for actual trading. We at Markplex Corporation are not Broker/Dealers, Financial Advisers or Registered Analysts. No offer or solicitation to buy or sell securities, securities derivatives, futures products or off-exchange foreign currency (forex) transactions of any kind, or any type of trading or investment advice, recommendation or strategy, is made, given or in any manner endorsed by Markplex Corporation. You are fully responsible for any investment or trading decisions you make. Futures and options trading has a large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. This Web site is neither a solicitation nor an offer to buy and/or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this Web site. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. No warranties of profitability are being made or given. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options futures or forex); therefore, you should not invest or risk money that you cannot afford to lose. CFTC RULE 4.41 - Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Screen shots on this site are examples and are not meant to imply that any of the programs or tutorials available on this Web site will generate profitable trades. EasyLanguage or PowerLanguage trading strategies, signals, studies, indicators, showme studies, paintbar studies, probabilitymap studies, activitybar studies, functions (and parts thereof) and associated techniques referred to, included in or attached to this tutorial or program description are examples only, and have been included solely for educational, informational, and entertainment use. Markplex Corporation does not recommend that you use any such trading strategies, signals, studies, indicators, showme studies, paintbar studies, probabilitymap studies, activitybar studies, functions (or any parts thereof) or techniques. The use of any such trading strategies, signals, studies, indicators, showme studies, paintbar studies, probabilitymap studies, activitybar studies, functions and techniques does not guarantee that you will make profits, increase profits, or minimize losses. Markplex Corporation assumes no liability for any damages, direct or otherwise, resulting from the use of this information and/or program(s) described, and no warranty is made regarding its accuracy or completeness. Use of this Web site including the information, tutorials and/or programs included on it is at your own risk. You shall indemnify and hold Markplex Corporation harmless from any and all liability, loss, trading losses, costs, damage, or expense, including attorneys' fees you or third party may suffer (other than damage to your tangible property or injuries to employees occurring during the course of work) as a result of claims, demands, costs, or judgments arising out of third party and any other claims based on Markplex Corporation's performance, including, but not limited to losses resulting from the use of Markplex Corporation developed software, programs, web sites, tutorials, or the TradeStation charting and/or trading platform. Any testimonials on this Web site may not be representative of the experience of other clients and are not indicative of future results or success.
This Web site contains or may contain references and links to other companies and/or their Web sites, none of which is under the control of Markplex Corporation. Markplex Corporation makes no representations, warranties or endorsements whatsoever about any other Web sites to which you may have access through the Markplex Corporation Web site, or any products or services of those other companies, even if the products or services of those other companies or their Web sites are described or offered on the Markplex Corporation Web site or integrated with Markplex Corporation's products or services. TradeStation®, EasyLanguage® and PowerEditor® are registered trademarks of TradeStation Technologies, Inc. Other brand and product names which appear on this site are the trademarks or service marks of their respective owners, including: Microsoft® is a registered trademark in the United States Microsoft®Excel® is a registered trademark of Microsoft® Neither TradeStation Technologies nor any of its affiliates has reviewed, certified, endorsed, approved, disapproved or recommended, and neither does or will review, certify, endorse, approve, disapprove or recommend, any product or service that offers training, education or consulting regarding the use of EasyLanguage.

By continuing to use and navigate our sites, services, applications, tools or messaging, you are agreeing to our Terms and Conditions and the use of cookies, web beacons and similar technologies as described in our Privacy Policy and Privacy Policy on the use of cookies.