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ElderPack

The Market Thermometer translates market activity into a "hot" and "cold" histogram for better visualisation.

Introduction

The Market Thermometer is one of the studies that comes with the ElderPack.

Example

Example of the Market Thermometer study using a 15 minute e-mini S&P future chart with a timeframe restricted to NYSE trading hours.

The red bars show "hot" and blue bars show normal or cool. Hot/cool is determined by relative position to MA.

Configuration

To configure the study please right click on an advanced chart that has the study loaded and from the menu select Edit Studies... and in the subsequent dialog box select the appropriate study from the drop down list in the top left hand corner next to the label Study:

Parameter

Description

Bar Thickness Thickness of histogram bars. Default is 3.
Line Thickness Thickness of line. Default is 2.
Bar Color Color of bar when it is below the moving average (MA) line. Default is blue.
Hot (over MA) Color Color of histogram bar when it is over the moving average (MA) line. Default is red.
MA Line Color The color of the moving average (MA) line. Default is teal.
MA Length Number of bars to use in calculating the moving average.

Support

Support is always available for the indicators. We suggest that you post your support question in the MyPivots Support Forum for quickest response. Otherwise use the contact details on this web site to send us a question if it is of a personal nature.

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