Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Assigning a numeric value to a signal generated by an indicator
I am working on an indicator that generates a signal for a long permission, and another signal for a short permission. Is there a way to add a value to the signal? For example, Long (1) Short (-1), no signal (0). Any help or direction would be greatly appreciated.
Cheers!
Bullywig
Can you help answer these questions from other members on NexusFi?
Thank you for the direction. I found the portion of code that refers to the value 1 or -1. I was able to implement this into my indicator and it compiled without any errors, but I cannot find where that value prints or is referenced so that it can be used or called up in a potential strategy. This is a new venture for me so still on the exponential flat so to speak as far as understanding the code, so I apologize in advance if I'm not recognizing something that is very obvious.
You ask about adding value. One way - depending on your strategies is to have strength categories
If your indicator is bounded (eg. possible values from zero to 100) then you could decided to break it into categories.
So this is the spreadsheet for % close in range and you can place numerics to the levels
which could read
strong buy
buy
no trade
sell
strong sell
The idea is you may vary the amount invested in a trade risking more on a strong buy then on a buy.
------------
If it is unbounded and if most values are between -100 and +100
vhigh =2 = +100 to infinity
high = 1 = +62 to +100
mid = 0 = -32 to +62
etc
---
If at a later date you will have other indicators you can follow something similar for them
indicator 1 = strong buy
indicator 2 = buy
I have split the range into 5 categories above. Of course you can decide what the split would be for your indicator - not too many and not too few.
