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ToolPack 169

If you are a subscriber to the ToolPack indicators then we suggest that you subscribe to this topic to be kept up-to-date with changes in the ToolPack. We will post all changes here to let you know what is happening.

More information on the ToolPack can be found here:
The DVATool has gone through some major improvements in the last couple of days. The IBTool has gone through some minor improvements. Both are worth installing. Remember that you must be using eSignal 7.9 to use these.

Please install from the new download page:

FibTool (bug fix)

A bug in the FibTool made it show incorrect numbers when certain time templates were used with it.

This bug has been fixed and a new version placed on the web. If you re-install the ToolPack it will replace the FibTool with the latest version.

FibTool version number increased from 1.1 to 1.2 today.
Replacing the LineTool

It is my intention to phase out and discontinue the LineTool in the ToolPack.

The LineTool's functionality will be replaced by 4 new tools which will give you the same lines and more.

Currently the LineTool plots the following lines from the DailyNotes page:

3. R3,R2,R1,PP,S1,S2,S3
4. WR3,WR2,WR1,WPP,WS1,WS2,WS3
5. MA

The MA line will NOT be available in the new tools and will therefore be discontinued.

The following tools will replace the LineTool:

1. OHLCTool
2. DVATool (already available in the ToolPack for ver 7.9)
3. PTool
4. WPTool
5. [No replacement]

At the moment the LineTool has 2 major limitations:
1. It only caters for the symbols that are on the DailyNotes page.
2. If the DailyNotes page is not updated then the figures on the LineTool will not be updated.

The new tools will do away with the need for the DailyNotes page to be updated and will also work across all symbols. The new tools will also offer much more than the current LineTool.

If anybody has any concerns about the phasing out of the LineTool then please let me know as soon as possible so that I can make sure that your current needs are catered for in the new tools.

DVATool (Bug Fix)

A bug showed up in the DVATool yesterday. This only affected the use of the DVATool yesterday but may affect other days as well by not plotting the lines. (It didn't return any incorrect values.)

This has been fixed and a new version is on the web. This should also show up as a new version if you have version control enabled in eSignal.
DVATool - Enhancement

New version (version 2.0) of DVATool can be downloaded here:

What has changed?
A new parameter has been added: Use Special Format
This parameter is switched off by default (false) but if switched on will use eSignal's formatting for the symbol that you are looking at.

Instead of displaying decimal values on the Single Print lines for bonds for example it will display 32nds.
There are 4 new tools/indicators in the ToolPack and 1 less old indicator.

The LineTool indicator has bee replaced by the following 4 indicators:

The LineTool picks values from the Daily Notes page and displays them on an eSignal chart. Although this is great and has some advantages, I believe that these replacements will give you more tools at your fingertips.

DPivot - Plots daily pivot lines. Also can plot pivots based on previous trading session + number of days that you specify.

XPivot - Plots pivot lines based on a day of week + a number of trading days back (previous) to that day. For example, defaults to plotting the Pivot created from values generated in the 5 trading days up to and including last Friday.

WPivot - Plots the pivot lines based on the values generated by the market in the previous trading week. This will usually produce the same results as the default settings for the XPivot except for weeks following weeks which had holidays.

OHLC - Plots the Open, High, Low, Close from the previous day on today's chart.

Remember that you can load the same indicator twice and change the parameters on that indicator to make it behave differently and give you two different views of the market.

TIP: If there are lines that you don't want to see then set the color for those lines to the same as the background of your chart.

I'm hoping that these enhancements are going to make you a more profitable trader.
The easiest way to get the new indicators is to just run the install from the web site for the ToolPack again. This will overwrite the current indicators and add the new ones.
Version 1.6 of the IBTool has just been released. This version adds the following features to the IBTool:
- Lines showing Triple IB.
- Lines showing Quadruple IB.
- 50% line (i.e. half way between IB high and low)
- Labels to the right of the line.
- Monday + Tuesday combined IB.

To use the new version either run the ToolPack install program again from here:


Update the IBTool using eSignal's Auto Update from the Tools -> EFS -> Auto Update... menu options.

More documentation about the IBTool and the changes can be found here:

IBTool Version 1.7 released today. This fixes a missunderstanding as explained on the web page in the last posting. Same instructions as above apply.
New indicator as part of ToolPack now released: ORTool (Opening Range Tool)

More details here:
Version 2.4 of DVATool released today.

Adds a new parameter FontSize which as far as I can tell doesn't make any difference on my charts but it might on your charts.

Fixes a bug in the Volume Basis for the bracket calculation. If you haven't been using the Volume Basis then you will not have noticed that it tends to start a bracket earlier than it should and the initial bracket's volume was smaller than it should have been.

If you have eSignal set for auto-update then you should receive a notice when you next start eSignal - or when your updates are set to update. Otherwise just run the install program for ToolPack again and you'll get all the latest studies:
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