Custom Oscillator

[GoIgo 10]

Hello all,

 

New to easylanguage coding and was hoping someone could point me in the right direction on an issue. I am using the GetFundData function to pull in commitment of traders info for an indicator and then creating a ratio of the data.

Part that I am stuck on: I would like to create a custom stochastic of the COT data that for example takes the large speculator long positions/total open interest for the last 37 weeks. After defining the variables and having it pull data for them I defined the ratio as Value1= LargeSpecLong/TotalOI - now how can I have it plot a stochastic of the totals for the data based on the last 37 weeks?

Also any recommendations on the best tools for learning easylanguage are appreciated. Thanks!

[BlueHorseshoe 10]

Hello all,

 

New to easylanguage coding and was hoping someone could point me in the right direction on an issue. I am using the GetFundData function to pull in commitment of traders info for an indicator and then creating a ratio of the data.

Part that I am stuck on: I would like to create a custom stochastic of the COT data that for example takes the large speculator long positions/total open interest for the last 37 weeks. After defining the variables and having it pull data for them I defined the ratio as Value1= LargeSpecLong/TotalOI - now how can I have it plot a stochastic of the totals for the data based on the last 37 weeks?

Also any recommendations on the best tools for learning easylanguage are appreciated. Thanks!

 

Hi Golgo,

 

Nobody else seems to be replying so I thought that I would . . .

 

This isn't possible because the Stochastic Oscillator calculation references three data points when analysing price (the high, low, and close of each period), and your COT calculations only provide one data point, 'Value1'.

 

You could do this using an RSI instead though, which just requires one data point per period. Here's how:

 

In EasyLanguage the formula used to calculate the output of an INDICATOR is typically stored seperately as a FUNCTION. This means that the FUNCTION can be called upon at any time that you need to use it, without having to write the calculation out within each new indicator or strategy. I believe this is called 'object-oriented' programming.

 

So, in your case, the FUNCTION for the Relative Strength Index is already sitting there, and you just need to call upon it in the code you are writing, and then supply the input data. In the case of what you describe the input data used instead of closing prices will be 'Value1' derived from your COT calculations. You'll also need to adjust the lookback to give the data window of 37 weeks that you require - I've just labelled this 'X' in the code below.

 

So the end result would look something like this:

 

Variables:
GolgoCOTrsi(0);

Value1= LargeSpecLong/TotalOI

GolgoCOTrsi=RSI(Value1,X);

Plot1(GolgoCOTrsi,"GolgoCOTrsi",Green);

 

TIP: I haven't personally looked at COT data in any detail, but if I was interested in analysing Price data with an RSI I would definitely be using a very short lookback in the calculation - 2-periods is often best.

 

Hope that answers your question.

 

BlueHorseshoe