Writing tradestation programs trending non-trending markets

Screenshots An intraday chart of the forex markets with the trend strength indicator displaying both colored bars and the actual trend strength value on each bar. The trend strength indicator includes the option to color code each bar or candlestick on the chart to make it quick and easy to identify the trend as well as the option to display the actual trend strength value on each bar, also color coded. Additional Information The trend strength indicators include multiple settings allowing you to personalize the indicators including changing the prices used to calculate trend strength and the associated trailing stops, the sensitivity of the indicator or the values necessary to trigger a bullish, bearish or neutral trend.

The trend reversal indicator is a TradeStation showme indicator that alerts you when the trend changes from bullish to bearish, or vice versa. When a trend is neutral the indicator treats this as a consolidation of the prior trend and waits for the trend to continue or to reverse, triggering an alert.

This indicator also includes an optional trailing stop that compliments the trend strength indicator by matching the current trend and trailing a stop in measured increments. The chart below includes both the trend strength bars indicator and the trend reversal showme indicator in the same chart.

The large showme dots indicate when the indicator alerted to a change in trend and the small showme dots represent the trailing stop. The trend pullback indicator is used to identify pullbacks that occur during a strong trending market, particularly useful for swing traders.

Users can set the minimum bullish or bearish trend necessary along with the minimum and maximum requirements of each pullback and the number of bars during which the pullback should occur. The indicator will then alert you as each pullback occurs. The chart below includes both the trend strength bars indicator and the trend pullback showme indicator in the same chart.

The showme dots on each chart show when a trend pullback signal triggered. When applied to a RadarScreen the trend strength indicator provides extra information in addition to the current trend strength value.

Easylanguage functions allow you to incorporate our indicators as part of your own TradeStation strategies and indicators. Delivery You should expect to receive your order within 1 working day via email.

Continued Support and Updates for a Minimum of 12 Months All our products include full support and updates for at least 1 year so if you have any problems or require any additional information you can contact us for assistance.

Sell closes a long position. SellShort closes a long position and initiates a short position and BuyToCover covers a short position. Having created the strategy and verified it, it is time to apply to a chart. Open a new chart and click Insert — Strategy and select the name of the strategy you have just created.

You should see the following window:. Your chart should look something like the following:. At this point we may realize that the strategy has severe limitations and it is time to reappraise it and maybe change some of the design concepts — perhaps by finding a way of avoiding trading in choppy markets.

After optimization there are two rich sources of information about this strategy. Make sure that you are in the chart windows and then click view.

Click the Strategy Performance Report. There is a wealth of information here about the strategy. Explore the different tabs at the bottom of the screen. Notice that the profit factor is only 1. By doing this it appears that you are making a good profit when in fact it just happens that your strategy fits this particular chart and timescale.

This can be avoided by applying a strategy to different time scales, numbers of bars and symbols to test its validity. This tutorial demonstrates the creation of a very simple strategy.

Obviously the strategy needs some work and so in the next few tutorials I will look at some of the ways in the which the strategy could be improved. If you have any questions about the above material or you would like to point out a correction or typo, please e-mail: sales markplex. Skip to content Menu. Tutorial 11 How to create a simple TradeStation EasyLanguage strategy A basic TradeStation strategy tutorial Welcome to tutorial 11 in this series of tutorials designed to introduce basic EasyLanguage concepts.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Do not sell my personal information. Manage consent. Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website.

We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. In any long-term trend, the market may pause to correct itself by trending sideways or down for a couple of months before continuing on its previous course.

This could be identified as an intermediate trend within the long-term trend, or near-term trends within the intermediate trend. Simply put, this is how trends interact with each other, and how they are identified on a chart. Trends can be illustrated using trendlines.

When applying trendlines, you will be able to view various chart patterns that can help you identify and predict the strength of a trend and whether a trend reversal may occur. Trendlines are used to determine the slope of a trend and to help identify or indicate when a trend is changing. Generally, trendlines are drawn to identify and follow uptrends and downtrends sideways trendlines can also be drawn, however, they would be more indicative of a support or a resistance level.

An up trendline is drawn under rising lows or troughs , and a down trendline is drawn above declining highs or peaks. A trendline should include all price activity and touch troughs or peaks two to three times. Obviously, the more times prices bounce off of the trendline to test its validity, the more significant the trendline becomes.