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Can I do everything I want in a Strategy? Why use an indicator?
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Can I do everything I want in a Strategy? Why use an indicator?

  #1 (permalink)
NinjaTrader Trader
Kitchener, Ontario, Canada
 
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Can I do everything I want in a Strategy? Why use an indicator?

My goal is to have a fully automated trading system. For that, I will create a STRATEGY not an indicator.

From what I understand so far with NT7, I can pretty much do everything I need to do, including plotting whatever I want using a stategy.

What am I missing? Why do I need to use Indicators at all?

Thanks in advance

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  #3 (permalink)
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you are not missing anything. Indicators may help with discretionary trade decisions where strategies are fully automated. Good Luck!

Laserdan
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  #4 (permalink)
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DaFish View Post
My goal is to have a fully automated trading system. For that, I will create a STRATEGY not an indicator.

From what I understand so far with NT7, I can pretty much do everything I need to do, including plotting whatever I want using a stategy.

What am I missing? Why do I need to use Indicators at all?

Thanks in advance

it is mostly about organizing code and resing parts in different areas. if you code it all into a strategy - which is possible - then you can not use parts of it on charts and / or in other strategies. It is not always negative to organize your own code base around some reuse if you plan to have more than one strategy.

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Trading Apprentice
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you need to code well. in any case.

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DaFish View Post
My goal is to have a fully automated trading system. For that, I will create a STRATEGY not an indicator.

From what I understand so far with NT7, I can pretty much do everything I need to do, including plotting whatever I want using a stategy.

What am I missing? Why do I need to use Indicators at all?

Thanks in advance

It is a reality distortion field, I swtiched from strategy to discretionary trading as I was not able to put it the way you describe it in your post, but I am glad I did it + my trading now is much more fun; that's just me

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DaFish View Post
My goal is to have a fully automated trading system. For that, I will create a STRATEGY not an indicator.

From what I understand so far with NT7, I can pretty much do everything I need to do, including plotting whatever I want using a stategy.

What am I missing? Why do I need to use Indicators at all?

Thanks in advance

I find it much easier to plot with Indicators, then you can swap them out if you want to try something different. (More modular if you will) If you want to plot data from your strategy, I have done and seen others do the same, create a SHELL of an Indicator and pass data back to it for plotting. The SHELL is really a blank dataseries you have exposed as public for plotting only.

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Indicator to indicate and strategy for trade management

The way I write my code, the indicator can be used without the strategy, as a helper for manual trading and as source of signals for the automated strategy. I also like the separation for evolutionary purposes. Of course it would be ideal to have a completely automated and autonomous strategy, but the truth - at least in my case - is that the indicator + strategy combination will take some time and a lot of lines of code before inching above 55-60% and being unleashed live. In the meantime, you can write all sort of tools and visual helpers in your indicator and use them for discretionary trading.

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Lately I have done some indicators, which I use inside strategies so it is sort of simplifying model and I can change indicator without modifying strategy under that..

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raffu View Post
Lately I have done some indicators, which I use inside strategies so it is sort of simplifying model and I can change indicator without modifying strategy under that..

Hi Raffu, how do you do indicators INSIDE of strategies? Are you saying that you insert a Strategy on your chart - which in turn calls an Indicator?

Please advise.

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