If you’ve added MQ PowerLines to your chart and you still don’t see any power lines, it’s probably due to incorrect settings for the market you’re showing.
The most likely input that needs to be adjusted is the Tick Range input. What is Tick Range? When MQ PowerLines looks back a previous pivots, it tries to identify pivots that are close enough in price to the most recent pivot. Tick Range is the number of ticks that a pivot must be within to be considered close enough so that a line is drawn.
The default setting for this is 4 ticks, which might be great for a market like Crude Futures, as 4 ticks of range is equivalent to $40. But in an equity, a tick is equivalent to 1 cent. So 4 ticks in a stock is just 4 cents. That means that by default, a previous pivot high must be within 4 cents to count as close enough so that a line is drawn to connect them. If it doesn’t find a pivot within 4 cents, it won’t draw a line.
If you increase Tick Range to 100, that will be $1 (100 1-cent ticks), and that may be a better value for equities like AAPL. Of course, equities vary in price quite a bit. E.g., Amazon was trading at almost $3000/share at the time that this article was written, so even 100 ticks might not be enough to give a sufficient number of detections. Perhaps 500 (which is $5 in stocks), might provide the right amount of detections.
You may find that 4 or 5% of price is a good starting point, but it will vary based on how an individual stock responds. That is, some markets revisit an exact price quite often, and a market that does that may warrant a smaller tick range. Feel free to experiment.
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