Multi Time Frame Indicator

[dhelmin 10]

Looking for a TradeStation indicator that lights up when one indicator points in the same direction on three different time frames? Also, can this be done using shares instead of minutes?

[BlowFish 10]

Have you looked at ADE and EL collections? I have not used the myself but they might be helpful.

[Tams 20]

  dhelmin said:

Looking for a TradeStation indicator that lights up when one indicator points in the same direction on three different time frames? Also, can this be done using shares instead of minutes?

 

 

This question was answered 3 times in the last 4 weeks.

You are looking for an easy answer;

you have not given any effort before posting.

 

The search button is at the top right corner of this page.

[UrmaBlume 10]

  Tams said:

This question was answered 3 times in the last 4 weeks. You are looking for an easy answer;

you have not given any effort before posting.

The search button is at the top right corner of this page.

 

Tams,

 

I don't think anybody here is as patient and continuously helpful to beginners as well to advanced players as you. I thank you and many, many on the board have also thanked you.

 

Like you I sometimes lose patience with those that make very low content posts or almost no posts and just leech code.

 

Still it is a community and we must add what value we can if we are to expect the ability/right to take value.

 

Your technical understanding is vast and your help is appreciated.

 

cheers

[dhelmin 10]

Trust me I've put lots of time into trying to figure out how to do this on my own. My brain seems to work the opposite way a programmer's does. I was able to "write" my own strategy for a single time frame. I just can't grasp ADE.

[Tams 20]

  dhelmin said:

Trust me I've put lots of time into trying to figure out how to do this on my own. My brain seems to work the opposite way a programmer's does. I was able to "write" my own strategy for a single time frame. I just can't grasp ADE.

 

 

is ADE the only way?

[BlowFish 10]

  Tams said:

is ADE the only way?

 

Nope, but I guess you know that

 

dehlmin look for a thread called how to plot globex highs and lows (or something similar) several techniques are discussed. By changing the bits that tests time to testing a barcount you can synthesise higher time periods.

[Charlton 10]

  Tams said:

is ADE the only way?

I use global variables e.g. GVSETNAMEDINT and GVGETNamedint.

 

There is a whole (excuse the pun) array of them that prove extremely useful for passing and storing values within and between windows

 

Charlton

[Trader333 10]

Here is the globalvariable dll file (which may already be available elsewhere on the forum). Anyway you need to extract the file and place it into your program directory of Tradestation.

 

 

Paul

GlobalVariable22.zipFetching info...

[Pedro01 10]

You can do this 2 ways. First and easiest is to put the 3 timeframes on 1 chart, then you don't need to use Global Variables. The Global Variable option can only be used in real time, you can't look at past data using that method.

 

This is because TS loads up chart by chart, not minute by minute. You can use volume, ticks or time bars.

 

If you are testing for direction, you have another issue to overcome...

 

 

 

The chart has the e-mini 1 min (shown) and the e-mini 10 min (hidden)

The first CCi indicator is on the 1 min

The second CCi indicator is on the 10 min

The last #PD_MTF_TEST indicator shows the direction of the CCi,red = down, green = up. The first row of dots is the 1 min, the second row of dots is the 10 min.

 

So you can see that 7:20-7:30 the CCi 10 min was up slightly but this isn't shown 'in the dots' until the bar closes at 7:30. The bottom row of red dots showing direction of the CCi from 7:30 to 7:40 is based on it's direction from 7:20 to 7:30.

 

Likewise, the bottom row of red dots from 7:40 to 7:50 shows red which is based on the CCi direction from 7:30 to 7:40.

 

Whilst this is all just sample code to show the concept, what I was trying to do generally is use higher timeframes to give direction and lower timeframes for entry. This isn't much use if you can't get the 10 min direction as it's changing.

 

Now - in real time this is different - you will see the CCi direction moving for the current 10 min bar as the bar is in progress. Even after the first minute of the 10 minute bar, if the strength of the move is enough to change the direction of the 10 minute bar, you use that immediately.

 

The answer is in the use of synthetic bars. The second attachment shows the same indicator with a 'synthetic' version overlayed and how you can see the higher time frame indicator plotted out closer to the way it does in real time.

 

Whilst a lot of people don't seem to be able to wrap their heads around this issue, what it means is that you you use these indicators in multiple timeframes in a strategy, your strategy entries & real-time entries will be different & the results you get will not be based on the entry technique you think you are coding....

 

Pete

[monowheel 10]

Interesting approach with the synthetic candles. I presume there's an overhead here of having to rewrite all indicators which use synthetic candles. Do you keep that in EasyLanguage or call out to C/C++ code for speed.

[Pedro01 10]

There's an overhead both in the extra time it takes to write/test the indicators as well as at execution time and the overhead is hughe.

 

Saying that, I only use strategy code for testing a strategy, for real time execution, I use code with embedded macros which allows you to build in some redundancy. For instance, with macro code you can place a stop order as well as code to monitor the current price vs stop price. If you go through the stop price, you can place a market order as a 'backup' to your stop order.

 

It may seem like overkill but I prefer to have that extra degree of control you get with the macros.