How to turn an Indicator into a Signal  [SOLVED]

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trim
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How to turn an Indicator into a Signal

Postby trim » 04 Jan 2015

I am using Ver 9.0 of MC can anyone help me understand how to convert an Indicator into a Signal please

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JoshM
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Re: How to turn an Indicator into a Signal

Postby JoshM » 04 Jan 2015

That depends on the indicator you want 'translated' into a signal. Since each indicator has different code, there is not such as thing as 'an indicator'. What indicator did you have in mind?

Also, if you want to translate an indicator into a signal, you'll need to specify certain trading rules based on the indicator (such as "buy when .. " and "sell when ... ").

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Re: How to turn an Indicator into a Signal

Postby trim » 04 Jan 2015

Thank you Josh
I am creating a customised Indicator that will look for "conditions:" that are produced in other indicators before producing a chart "signal" such as a text of "Buy" or "Sell" etc.

I thought I need to have a "Signal" version of my indicator to produce the onchart "text" message?

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Re: How to turn an Indicator into a Signal  [SOLVED]

Postby JoshM » 04 Jan 2015

I am creating a customised Indicator that will look for "conditions:" that are produced in other indicators before producing a chart "signal" such as a text of "Buy" or "Sell" etc.
In that case you can replace the indicator's code in the signal with statements to enter or exit a position. For example, if you have this in the indicator:

Code: Select all

Variables:
textBoxID(0);

if (condition1 and condition2) then begin

textBoxID = Text_New_s(Date, Time_s, Low - (High - Low), "buy here");

end;
With this:

Code: Select all

Variables:
posSize(0);

if (condition1 and condition2) then begin

Buy ("EL") posSize contracts next bar at market;

end;
For more info, see Buy, Sell, SellShort, and BuyToCover.
I thought I need to have a "Signal" version of my indicator to produce the onchart "text" message?
You can also make a text message on the chart with a text box, but a signal would be more convenient and also allows for backtesting / trade generation in real-time.

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Re: How to turn an Indicator into a Signal

Postby trim » 04 Jan 2015

Hi Josh

this is exactly what I needed to understand thank you very much. All I need now is to find an affordable coder to help me with the indicator code.. so I guess I need to post a new forum query for that. I am new to using the forum.

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Re: How to turn an Indicator into a Signal

Postby shanemcdonald » 05 Jan 2015

abc is an excellent and affordable coder.
He is here and on Big Mikes forum.

shane


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