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From an indicator to trading signal:
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From an indicator to trading signal:

  #1 (permalink)
Elite Member
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From an indicator to trading signal:

Hello

Amateur question:

I have design a new Indicator KS_1_0 that Plot with a cross, the bars coresponding to all conditions. Plot also the take profit target position.

Now, How do use this new indicator (KS_1_0) as a trading signal?

Do I need to copy and use all the same code in a new signal, or i could use the Plots output of the indicator as the
a) Plot1 :entry price
B) Plot2: take profit target price

Any help really appreciated

Martin

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  #3 (permalink)
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arjfca View Post
Hello

Amateur question:

I have design a new Indicator KS_1_0 that Plot with a cross, the bars coresponding to all conditions. Plot also the take profit target position.

Now, How do use this new indicator (KS_1_0) as a trading signal?

Do I need to copy and use all the same code in a new signal, or i could use the Plots output of the indicator as the
a) Plot1 :entry price
B) Plot2: take profit target price

Any help really appreciated

Martin

Typically the easiest way would be to design a function first. The function handles all the internal stuff, then outputs the 'result'. Your actual indicator then just calls the function and doesn't do any computational stuff. This way your signal can also easily call the function.

So, take the 'guts' of your indicator and create a new function instead. Most of the code will be identical. You can look at existing functions to understand how input: section is slightly different (define the type of var in each instance). Then the net result is how the function returns the 'answer'. You can see this by examples.

Then modify your indicator code to just call the function. You can use a var: to store the answer from the indicator, then Plot it.

Your strategy (signal) will look very similar to your indicator code.

Mike

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  #4 (permalink)
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A lesson learned for me.

I got a little bit more understanding of the logic behind the software now. I will work on your proposed solution.

Many Thanks

Martin

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  #5 (permalink)
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Mike, just wanted to say thanks.

I searched for exactly this question, and seeing your answer has been a huge help!

thx
sim

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Use a read only indicator in a signal

Hi,
I have a read only indicator (sef file) which plots on my charts and I would like to use it in a signal as part of a strategy.
I dont know the internals of the indicator at all.

Can I get the indicator outputs in a signal if all I know is the indicator name (and inputs names which I can see in the format Indicator window)?
Using Multicharts 64.

Thanks.

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  #7 (permalink)
Market Wizard
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cactus363,

by default this is not possible, unless the indicator uses a function that does the necessary calculations and makes the values available for the indicator to plot. Your best bet might be to contact the person that developed the indicator and ask him/her if there is such a function or if he/she can turn the indicator into a function that you can use.

Regards,

ABCTG


cactus363 View Post
Hi,
I have a read only indicator (sef file) which plots on my charts and I would like to use it in a signal as part of a strategy.
I dont know the internals of the indicator at all.

Can I get the indicator outputs in a signal if all I know is the indicator name (and inputs names which I can see in the format Indicator window)?
Using Multicharts 64.

Thanks.


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