Mike Medved
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Posts posted by Mike Medved
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I will look at it this weekend. The problem with modifying previous candles connected deeply to the whole charts code. It is very much oriented at only the last candle and its indicator value changing.
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I may implement it as a System Paintbar that will be automatically included in MT. But the arrow will not be plotted N candles back, but on the candle that triggers it. Will that do?
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I really *really* hate backward-stamping indicators. If anything, that arrow should show on current candle, because it is the current candle that tipped the scale into the arrow showing up.
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Can you give a link explaining it?
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1. "Relative Volume" - that would not be very easy to implement, mostly because it has to look at more than 1 or 2 day's data (and scan tries not to use more than that in order to save on memory consumption and speed)
2. Change X minutes - in MT advanced mode (for let's say 5 minutes), that would be Close - Close[5] or, if you want it in percent, (Close-Close[5])*100/Close[5]
3. Volume X minutes - I think that is the same as MT's "Pace" indicator? You give it a period (let's say 10 min) and an averaging period (let's say 2 days). It calculates what the average volume is for ANY 10-min period during the last 2 days and compares (percent) the last 10 minute volume to that.
4. Volume Today and Spread - those are there already (well, Spread is Ask-Bid, but you know what I mean)
5. Average Daily Volume - that's in there but unfortunately not every source sends that,
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Thanks. There is a bug, specifically for historical VbP and specifically for the case where you extend X scale significantly. For now, reduce the X scale extension. For later, we will fix it in the next release.
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I missed that one when doing paintbars. It's on my immediate todo list.
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I could make an indicator that is described here: http://www.forextraders.com/forex-education/forex-indicators/alligator-indicator-explained/
Basically 3 shifted SMAs. Is that what you meant?
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Working on a built-in scanner. Based on paintbar code. Wouldn't you like to have that?
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Do you mean lock the crosshair so it stays in one place and does not follow your mouse?
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I tried it - am getting *something* in the Option Risk Analysis window when using Questrade, but not accurate. I checked - the inaccuracy is because Questrade is returning 0s as the Last,Bid and Ask values for options that should have good values. But that could be because our account with Questrade is a testing one, and it's weekend.
Please do this: put the exact same options into a portfolio in MT that you have in the Option Risk Analysis window and run it. Are you getting good values for those options in the portfolio? -
remisha: the scanning criteria will be done very similar to the way current Paintbars are done. Paintbars can be done in a Simple or Advanced way.
The Simple paintbar consists of a set of rules that can be exactly what you say: for example Stochastic K% crosses D% both ways.
Take a look at paintbar editor in your MT (on the Dashboard there is a Manage Paintbars tile).
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MTG, we would not be able to scan the entire stock universe, for several reasons
1. It's a lot of data that costs a LOT to acquire
2. The processing would have to be done on our own servers, which we don't want to do because it would be very costly and would introduce another point of failure.
3. The flexibility would be lost. It is simply impossible to allow scanning on one (or even several) server using every criteria every user will come up with. It doesn't scale.
The way we intend to allow scanning is to tie it to MT's portfolios. You would enter the symbols you want to monitor into a portfolio. Connect it to a data source for L1 data. Some data sources allow 100 symbols. Some 500. Then you would apply a scanning criteria (using paintbar-like code) to it. Then you let it run and the scanner would monitor the data and apply the criteria to it and show results to you in real time.
Note that I am talking about a scanner, not about a filter. A "filter" is run once and spits out the results (usually on a universe of stocks). A "scanner" would run on real-time incoming data for a set of stocks and run it through the criteria, in real-time, to pop up results.
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Ok - from pics you sent, seems like you have a list of stocks and the various criteria pop a checkbox in a particular column.
What we were thinking about would be not to show symbols for which the criteria are negative.
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1. As far as I know, TC2000 does a filter on historical data, not real time scanning does it?
2. Can you take a snapshot and show us?
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People who are interested in having a real-time technical scanner in MT - check in and we can discuss the best way to implement it. We have some thoughts on it, but would like some feedback.
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I went to StockCharts - didn't see ATR Trailing Stop in their indicators. Can you show me how they're doing it? Link or pic.
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The ATR Trailing stop is a line that is above or below the price. When the price breaks the line, the trailing stop switches from long to short or back. It cannot continue once the price breaks the line...
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Thanks for reporting this (and persisting). I found the bug and fixed it. Will be in next release.
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There are "Regression Channels" and "Single Regression Channel". Same principle, different execution.
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What you're suggesting, the paintbar can already do (well, with a bit of effort in coding it in the paintbar itself). You can simulate trades, calc P&L and output it as an alert etc, all in the code.
The problem would be the data. Paintbars run on charts, charts do not have more than 120 days of intraday data.
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It depends on what you want in your backtesting...
As you said, for some definitions of backtesting, MT is basically there. All you have to do is implement your backtesting strategy as a paintbar on historical or intraday scale, and run it on a particular chart on as much data as you can get in backfilling from your particular source. On any data - including options.
Once you're satisfied in your strategy's viability, just leave the paintbar running on that chart and it will be able to notify you when to buy/sell in real time
But if you want backtesting to be run on the whole universe of stocks, that would be problematic. So would scanning be. Mostly because we're not in the business of providing market data to users. We leave it to other people who have the means to do it and do it well (for some values of "well").
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We have added the Options Risk Analysis tool in MT. The latest beta has it, please update to that in order to work with it. It is pretty feature-complete at this time (we may add some more trade selection options)
We need feedback on it - on the accuracy and on the user interface. This is a feature that only a few programs out there have (mostly expensive ones) and we tried to make its UI as intuitive as possible (as we try to do with all our features :))
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Added PBShape.N0 thru PBShape.N9
will be in next release.
NEW PRODUCTION Version - w/Scanner, Bracket orders, etc
in Support
Posted
We will start doing this in a bit. Need to do a few videos, on various topics.