Think about a logic error you want to fix or a change in the average formula that you want to make.
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This would make your code much harder to read and the code maintenance would become harder, too. However handling ten different moving averages within your code would require you to add the same code ten times. This is fine to demonstrate things or when you only work with a few lines of code. The studies we wrote had all calculations within the main code block. In previous lessons we have looked at Moving Averages in various forms.
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We can use this as foundation for another lesson when we take a look at how to operate the function that comes with our free Value Area Indicator. Working with Multicharts and Tradestation - Lesson 06: Functions Learn how to create and use functions in Multicharts and Tradestation Let’s take a look at what functions are and how they are used. We also learned that a function should have a return value, even As you learned in lesson six, this is done via reference inputs. This is a multiple output function and therefore it can return more than one value. We will make use of this, while we learn how to work with the "ABC_ValueAreas" function. As long as you know how to call it, you can use it. A brief function description In the last session we learned that there is no need to know how a function works internally. In case you want to learn more about value areas, this link is a good start. You would usually look for areas with a width of about 70% of the total volume or total time (roughly one standard deviation). While TPO (short for Time Price Opportunity) value areas are the areas where price spent a defined amount of time. A volume value area is the area where a certain percentage of the daily volume was traded in. What are Value Areas? Value Areas give you the areas where a defined amount of volume was traded or where price stayed in for a certain amount of time. We need the function that provides the value areas in this lesson. If you don't have a copy installed already, I would suggest to do that now.
Let's put this knowledge to use today by taking a look at how to use the function that is part of our free Value Area toolset. Value areas from a function - Lesson 07 Display value areas from a multiple output function In the last lesson you learned how to create, call and operate functions.
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