In tutorial 87 I explain how to use a price series provider (PSP) update event. The calculation is very similar to that shown in tutorial 86 (i.e. how to plot an exponential moving average from a 30 minute price series provider on a 5 minute chart) except this time we recognize the end of the PSP ‘bar’ using the update event.
The biggest challenge with this sort of calculation is that the EasyLanguage indicator is applied to the lower time frame and hence runs on every 5 minute bar, however we actually only want to perform the exponential moving average calculation at the end of each 30 minute bar. Another issue is that the historical plot behaves differently from the real time plot.
The program plots the ‘real time’ exponential average a different color from the historically calculated exponential moving average. I have also plotted the same exponential moving average calculated using data 2 set up as 30 minute GBPUSD bars.
To create a price series provider, I dragged the PriceSeriesProvider from the tool box onto my program workspace. I do some initial setup using the properties tab including, in this case, double clicking the events button followed by the word: ‘Updated.’ I then copy the code from the ‘designer generated code’ and copy it into the program and make some adjustments. I explain this in the video below.
Gold Pass members can copy and paste the tutorial program created in the videos below.
Video explanation | How to calculate an exponential moving average using a price series provider and update event
If you are are a Gold Pass member I have included a copy of this demonstration program below, make sure you are logged in to see the following content:This content is for Gold Pass members only.
In the video above, the program is applied to symbol GBPUSD.
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