Colby Indicator For Tradestation

[slableak 10]

I was wondering if anyone here would translate this E-Signal coding into a Tradestation ELD Cloby Indicator. In E-Signal it has shaded area above and below the 0 line but not on the Trade Station eld found on TradeStation forums.

 

Provided By : eSignal © Copyright 2006

Description: Stochastics With Long Term EMA Filter

by Robert Colby

 

Version 1.0 10/09/2006

 

Notes:

* Dec 2006 Issue of Stocks and Commodities Magazine

* Study requires at least 271 bars of data.

* As a non-price study, the formula uses the EMA study as

part of the conditions for the trade signal but cannot

plot the EMA on the price chart simultaneously with the StochK.

If desired, add the EMA study to the price pane with the EMA

from Basic Studies menu (use Length 271 with Close as the Source).

* When the Close is above the 271-period EMA the top half of the study

pane's background will be colored green. When the Close is below

the 271-period EMA, the bottom half of the study pane's background

will be colored red. In addition to the background of the study

pane, the price bars will b e will also be colored to match the

background coloring sc heme.

 

 

Formula Parameters: Default:

Stoch Upper Band 70

Stoch Lower Band 30

EMA Periods 271

StochK Periods 7

StochK Smoothing 3

*****************************************************************/

 

function preMain() {

setStudyTitle("Stochastics with EMA Filter ");

setCursorLabelName("EMA", 0);

setCursorLabelName("StochK", 1);

setDefaultBarFgColor(Color.navy, 1);

setDefaultBarThickness(2, 1);

setShowTitleParameters(false);

setColorPriceBars(true);

setDefaultPriceBarColor(Color.grey);

 

 

var fp1 = new FunctionParameter("nUpperBand", FunctionParameter.NUMBER);

fp1.setName("Stoch Upper Band");

fp1.setLowerLimit(0);

fp1.setDefault(70);

 

var fp2 = new FunctionParameter("nLowerBand", FunctionParameter.NUMBER);

fp2.setName("Stoch Lower Band");

fp2.setLowerLimit(0);

fp2.setDefault(30);

 

var fp3 = new FunctionParameter("nMAlen", FunctionParameter.NUMBER);

fp3.setName("EMA Periods");

fp3.setLowerLimit(1);

fp3.setDefault(271);

 

var fp4 = new FunctionParameter("nKlen", FunctionParameter.NUMBER);

fp4.setName("StochK Periods");

fp4.setLowerLimit(1);

fp4.setDefault(7);

 

var fp5 = new FunctionParameter("nKsma", FunctionParameter.NUMBER);

fp5.setName("StochK Smoothing");

fp5.setLowerLimit(1);

fp5.setDefault(3);

}

 

// Global Variables

var bVersion = null; // Version flag

var bInit = false; // Initialization flag

var xMA = null; // EMA series

var xStochK = null; // StochK series

 

// Strategy Variables

var vPosition = 0; // position status (1=long, 0=flat, -1=short)

var bRealTime = false; // back testing flag

 

function main(nUpperBand, nLowerBand, nMAlen, nKlen, nKsma) {

if (bVersion == null) bVersion = verify();

if (bVersion == false) return;

 

var nState = getBarState();

var nIndex = getCurrentBarIndex();

var c = close(0);

var c_1 = close(-1);

 

//Initialization

if (bInit == false) {

addBand(nUpperBand, PS_SOLID, 1, Color.blue, "upper");

addBand(nLowerBand, PS_SOLID, 1, Color.blue, "lower");

xMA = ema(nMAlen);

xStochK = stochK(nKlen, nKsma, 1);

bInit = true;

}

 

var nEMA = xMA.getValue(0);

var nEMA_1 = xMA.getValue(-1);

var nK = xStochK.getValue(0);

var nK_1 = xStochK.getValue(-1);

if (nEMA_1 == null || nK_1 == null) return; // null check

 

if (nIndex == 0) bRealTime = true;

 

//Coloring scheme for close vs. EMA

if (c >= nEMA) {

setBarBgColor(Color.aqua, 0, 100, 50);

setPriceBarColor(Color.aqua);

} else {

setBarBgColor(Color.red, 0, 50, 0);

setPriceBarColor(Color.red);

}

 

 

// Exit Signals

if (nState == BARSTATE_NEWBAR && vPosition != 0) {

if (vPosition == 1) { // long

if (c_1 < nEMA_1 || nK_1 > nUpperBand) {

drawTextRelative(0, 50, "X", Color.white, Color.maroon,

Text.CENTER|Text.FRAME|Text.BOLD|Text.BOTTOM, null, 10);

drawShape(Shape.SQUARE, TopRow1, Color.khaki);

vPosition = 0;

if (bRealTime == false) { // back test

Strategy.doSell("Long Exit", Strategy.MARKET, Strategy.THISBAR);

}

&n bsp; }

} el se if (vPosition == -1) { // short

if (c_1 > nEMA_1 || nK_1 < nLowerBand) {

drawTextRelative(0, 50, "X", Color.white, Color.maroon,

Text.CENTER|Text.FRAME|Text.BOLD|Text.TOP, null, 10);

drawShape(Shape.SQUARE, BottomRow1, Color.khaki);

vPosition = 0;

if (bRealTime == false) { // back test

&n bsp; Strat egy.doCover("Short Exit", Strategy.MARKET, Strategy.THISBAR);

}

}

}

}

 

// Entry Signals

if (nState == BARSTATE_NEWBAR) {

if (vPosition != 1) { // long

if (nK_1 < nLowerBand && c_1 > nEMA_1) {

drawTextRelative(0, 50, "Long", Color.white, Color.blue,

Text.RIGHT|Text.F RAME|Text.BOLD|Text.TOP, null, 10);

&n bsp; vPosition = 1;

if (bRealTime == false) { // back test

Strategy.doLong("Long Entry", Strategy.MARKET, Strategy.THISBAR);

}

}

}

if (vPosition != -1) { // short

if (nK_1 > nUpperBand && c_1 < nEMA_1) {

drawTextRe lative(0, 50, "Short", Color.white, Color.blue,

Text.RIGHT|Text.FRAME|Text.BOLD|Text.BOTTOM, null, 10);

vPosition = -1;

if (bRealTime == false) { // back test

Strategy.doShort("Short Entry", Strategy.MARKET, Strategy.THISBAR);

}

}

}

}

 

// Position status

if (vPosition == 1) {

drawShape(Shape.SQUARE, TopRow1, Color .khaki);

} else if (vPosition == -1) {

drawShape(Shape.SQUARE, BottomRow1, Color.khaki);

}

 

return new Array(nEMA.toFixed(4), nK);

}

 

 

 

function verify() {

var b = false;

if (getBuildNumber() < 779) {

drawTextAbsolute(5, 35, "This study requires version 8.0 or later.",

Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,

null, 13, "error");

drawTextAbsolute(5, 20, "Click HERE to upgrade.@URL=http://www.esignal.com/download/default.asp",

Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,

&nb sp; null, 13, "upgrade");

&nb sp; return b;

} else {

b = true;

}

 

return b;

}

[walterw 10]

do you refer to the background with that shaded area ?

[slableak 10]

do you refer to the background with that shaded area ?

 

Yes, on E-Signal using this easy language it has a shaded area but not on the trade station version.

[walterw 10]

Slab : can you post a picture of it so I can tell you what can be done for TS... actually TS doesnt have a background plotting feature but it does have a series of diferent alternatives to plot "colors" on an indicator.... cheers Walter

[slableak 10]

This is what it looks like in TradeStation

 

 

This is what it looks like in E-Signal. It is the bottom indicator with the red & blue shaded areas.

 

 

Below is the ELD I downloaded from TradeStation forums.

20061019095907COLBY.ELD

[walterw 10]

Ok Slab, you want to take a look to this one.... the shades, in this case will be with color and thikness on the overbougth/sold lines.... wich is the relationship between close and ema... you can change that setting on ema if you want... hope it helps, cheers Walter.

Stochastic Colby.ELD

[slableak 10]

Hey, that is great! Thanks Walter...

[walterw 10]

Glad to help Slab ¡¡

[walterw 10]

Slab I noticed colors where wrong side, here I atach new one with colors corrected, just reinstall.... cheers Walter.

Stochastic Colby.ELD

[slableak 10]

I noticed that too. Thanks!

[Power555 10]

In the code what is opt3 an input for?

Thanks-

[alias/kopke 10]

Thanks i have downloaded it

regards

[vkj1441 10]

what is a Colby Indicator?