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MultiCharts, MultiCharts, MultiCharts...
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MultiCharts, MultiCharts, MultiCharts...

  #91 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

Just a quick update. I'm really enjoying MultiCharts so far.

I've been writing some EasyLanguage stuff and have started sharing it here on the forum, look for more to come. I am hoping to attract some more TradeStation and MultiCharts users, so if you are one please help me spread the word.

I've also been converting some NinjaTrader stuff to EasyLanguage. I'll be sharing it as I go once I work out kinks.

Last, I have some head-to-head performance (backtesting/optimization) reviews and videos to create, as well as some general feedback on MultiCharts now that I've been using it for a couple weeks. I'll be posting these soon.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #92 (permalink)
Member
Omaha, NE
 
Futures Experience: Intermediate
Platform: OpenECry Trader
Broker/Data: InfinityAT/OEC
Favorite Futures: Forex Futures
 
daedalus's Avatar
 
Posts: 46 since Nov 2009
Thanks: 15 given, 25 received

Awesome to see more TS/MC indicators coming. I have to admit the Ninja specific aspect of most of the threads on there is a downside for guys like myself but i'm stoked to hear that that may be changing a bit! (Though the rest of the forum's knowledge remains a huge draw!)

Can't wait and i'll be sure to start contributing some of my work as well. Cheers!

 
  #93 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received


Just found another thing I love about MultiCharts!

If you have the strategy performance summary open inside MultiCharts (not the Portfolio Backtester), and you make a change either to the strategy code itself in the PL editor, or to a parameter of the strategy options on the chart, then as soon as you hit OK or compile the performance report is updated instantly.

So you can see instantly if the change you made was a good or bad one.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #94 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

A bit more on IOG and Bar Magnifier.

IOG is Intrabar Order Generation and it allows strategies to execute orders intrabar (the NT equivalent of COBC false). This is super nice because let's say you have a 60 minute chart, the strategy can execute orders at any point in that bar, not just on close.

Bar Magnifier is equally awesome, perhaps even more so! Bar Magnifier will let you run your backtest your desired chart size (say 5 minutes), but in order to give accurate backtest results it will dissect each bar into a more granular bar (magnifying it). For instance, you could have it magnify each bar down to a 1 minute resolution. Or if that isn't enough, down to a 1 tick resolution is even possible!

That means that it is much more accurate because it knows much more precisely (or even perfectly, using a small enough resolution) the exact OHLC order of each bar. This is the primary reason NinjaTrader backtests aren't accurate.

Naturally, if you enable bar magnifier it will exponentially increase your backtesting time. For instance, if a backtest takes 7 minutes on a 5 minute chart, if you turn on magnifier down to a 1 minute resolution, the backtest will take about 35 minutes (5 times longer).

Turning it down to a tick resolution is more CPU intensive, but MultiCharts even has some awesome technology to help there, too! They eliminate identical ticks, because as far as OHLC order is concerned identical ticks a superfluous.

Anyway, I'm really enjoying MultiCharts so far and wanted to share You can find a few screen shot examples here:
Trading Software, Trading Systems, Signals, Strategy Testing and Optimization

I have it on my list to do a video of MultiCharts soon, and also a head-to-head performance review with NinjaTrader.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #95 (permalink)
Membership Revoked
United States of America
 
Futures Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009
Thanks: 262 given, 471 received


Big Mike View Post
A bit more on IOG and Bar Magnifier.

IOG is Intrabar Order Generation and it allows strategies to execute orders intrabar (the NT equivalent of COBC false). This is super nice because let's say you have a 60 minute chart, the strategy can execute orders at any point in that bar, not just on close.

Bar Magnifier is equally awesome, perhaps even more so! Bar Magnifier will let you run your backtest your desired chart size (say 5 minutes), but in order to give accurate backtest results it will dissect each bar into a more granular bar (magnifying it). For instance, you could have it magnify each bar down to a 1 minute resolution. Or if that isn't enough, down to a 1 tick resolution is even possible!

That means that it is much more accurate because it knows much more precisely (or even perfectly, using a small enough resolution) the exact OHLC order of each bar. This is the primary reason NinjaTrader backtests aren't accurate.

Naturally, if you enable bar magnifier it will exponentially increase your backtesting time. For instance, if a backtest takes 7 minutes on a 5 minute chart, if you turn on magnifier down to a 1 minute resolution, the backtest will take about 35 minutes (5 times longer).

Turning it down to a tick resolution is more CPU intensive, but MultiCharts even has some awesome technology to help there, too! They eliminate identical ticks, because as far as OHLC order is concerned identical ticks a superfluous.

Anyway, I'm really enjoying MultiCharts so far and wanted to share You can find a few screen shot examples here:
Trading Software, Trading Systems, Signals, Strategy Testing and Optimization

I have it on my list to do a video of MultiCharts soon, and also a head-to-head performance review with NinjaTrader.

Mike

Does this mean backtest resluts using renko and range bars are accurate with MC?

 
  #96 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received


Zoethecus View Post
Does this mean backtest resluts using renko and range bars are accurate with MC?

Good question. I don't think range bars are in question on either platform, but Renko obviously doesn't work in NT. Even the built-in Renko in NT7 doesn't work.

I'll add it to my list to check. I don't use Renko personally.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #97 (permalink)
Membership Revoked
United States of America
 
Futures Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009
Thanks: 262 given, 471 received

Great Mike. This could be the deciding factor on whether it makes any sense to build a Renko based strat.


Big Mike View Post
Good question. I don't think range bars are in question on either platform, but Renko obviously doesn't work in NT. Even the built-in Renko in NT7 doesn't work.

I'll add it to my list to check. I don't use Renko personally.

Mike


 
  #98 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

More to love...

Attached is a sample performance report from a strategy I am working on in MultiCharts. First, I love the export to excel option. It is far superior than what NT offers, as you can see (check it out!).

Here are some highlights of the report, not showing how good the strategy is --- showing how good the reporting is!

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Also, I wanted to show some of the built-in tools (not in Excel). I will highlight some of my favorite things about these reports. These are things NinjaTrader does not have, and I think they also demonstrate why MultiCharts is better for backtesting and automated strategies.

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Looks like I need to learn about Z-Score, Sortino Ratio's, Fouse Ratio's, Calmar Ratio's and Sterling Ratio's. Oh wait! There's insta-help for that Just click any definition you are unsure of, and a bottom panel appears with the definition and help. Cool!

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Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Attached Files
Register to download File Type: xls +CL# YestBreakout Back-Testing Strategy Performance Report.xls (421.3 KB, 20 views)
The following 2 users say Thank You to Big Mike for this post:
 
  #99 (permalink)
Elite Member
Atlanta, Georgia
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: DDT
Favorite Futures: ZN, ZB
 
cbritton's Avatar
 
Posts: 224 since Mar 2010
Thanks: 152 given, 237 received

Wow. I'm impressed. Never used MC, but now I'm getting more interested from following this thread.

Regards,
-C

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” - Sun Tzu
The following 2 users say Thank You to cbritton for this post:
 
  #100 (permalink)
Elite Member
Kaunas, Lithuania
 
Futures Experience: Intermediate
Platform: MultiCharts
Broker/Data: IB/IQFeed
Favorite Futures: Stocks, Futures
 
neriusb's Avatar
 
Posts: 15 since Dec 2009
Thanks: 16 given, 12 received

Chart trading in MC.


I'm also testing Multicharts (v. 5.5, 30days trial) and like it's speed and reliability. The most missing feature for me is chart trading. Maybe someone knows if they implemented (or plan to implement) this feature in MC 6 (or 7) ? Or maybe there is some thirt-party workaround/add-on to use chart trading using MC and IB ?

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