Signal Settings


Signal is a mechanical technical analysis tool, used to systematically specify market entry or exit points according to a set of trading rules implemented in the signal's algorithm. The trade points are indicated on a chart by ticks and arrows.

Signals can be viewed as the basic building blocks of strategies. Strategies can easily be constructed by simply applying a set of signals to a chart window, without the need to combine signal code manually.

Market entry or exit points, specified by the signals, can be used to send orders electronically directly to a broker, fully automating the trading process. To learn more, see Automated Trade Execution.

Each signal applied to a chart is set individually, and has its own Format Signal window. Signal Title is displayed in the title bar of the Format Signal window. Multiple instances of the same signal can be applied to the same chart; each instance will have its own Format Signal window, allowing different settings to be used for each of the instances. Signal settings are specific to the particular signal, while Strategy Properties settings affect all the signals applied to a chart. To learn more, see Strategy Properties.

In a multi-symbol chart, signals can only be applied to the series with the Data #1. Signals' execution priority is assigned according to the order in which they were applied, with signals that were added first having higher priority.

Market entry or exit (buy or sell) points, specified by a signal, are visually indicated on the chart by Arrows Ç or È and Ticks | or }. Arrows identify the time, and ticks identify the price value of each trade point. Labels, located above the sell arrows and below the buy arrows, display the signal’s name and the number of contracts traded at each trade point.

Basic adjustments to the signal’s logic can be made by simply changing the Input Values. Signal's Arrow, Tick, and Label Style can be set.

Setting Input Values

An Input is a constant used in the signal's calculations. Signals can have one or more inputs, or none at all. Each input is assigned a name. There are three types of inputs: Numeric, True/False, and String.

Signals can be modified by changing the input Values.

Most, but not all, signals use input values; to learn more see Default Studies Inputs.

One of the main advantages of using the inputs is that basic adjustments to the study's logic can be made be simply changing the input values, without the need to edit the studies' actual code.

Inputs are also used for Trading Strategy Optimization. The inputs can be modified before as well as after the signal has been inserted.

Signal's Inputs can be set from the Format Signal window:

  1. Open the Format Signal window.

    To open the Format Signal window, position the mouse pointer over one of the signal's Arrows, Ticks, or Labels;
    double-click once the Pointer Pointer.png changes into a Hand Hand.png; in the Format Objects window that appears, select a signal and click the Format button.

    The Format Signal window can also be opened by one of the following methods:
      - Position the mouse pointer over one of the signal's Arrows, Ticks, or Labels;
    once the Pointer Pointer.png changes into a Hand Hand.png, right-click and then click Format Signals; in the Format Objects window that appears, select a signal and click the Format button
      - Open the Format Objects window; in the Signals tab, select a signal and click the Format button.

    Note: The Format Signal window for the signal being inserted will open automatically if the Format check box in the Insert Study window is checked.

  2. Select the Inputs tab.
  3. In the Value column, click on the value of the input that you want to change and enter the desired value.


Tip: To use these inputs settings as default for the selected signal, check Use as Default check box.


Setting Style

The market entry or/and exit (buy or/and sell) points are visually indicated on the chart by Arrows Ç or È and Ticks | or }. Arrows identify the time, and ticks identify the price values of each trade point. Two Labels, located above the sell arrows and below the buy arrows, display the signal’s name and the number of contracts for each trade point.

Color, Style, and Size of arrows and ticks can be selected. Color of labels can be selected, or labels can be hidden.

The style of each of the elements for each type of an entry or an exit point can be set individually.

Changes to signal style settings will be applied to the Chart Window in real time.

Signal's style can be set from the Format Signal window:

  1. Open the Format Signal window.

    To open the Format Signal window, position the mouse pointer over one of the signal's Arrows, Ticks, or Labels;
    double-click once the Pointer Pointer.png changes into a Hand Hand.png; in the Format Objects window that appears, select a signal and click the Format button.

    The Format Signal window can also be opened by one of the following methods:
      - Position the mouse pointer over one of the signal's Arrows, Ticks, or Labels;
    once the Pointer Pointer.png changes into a Hand Hand.png, right-click and then click Format Signals; in the Format Objects window that appears, select a signal and click the Format button
      - Open the Format Objects window; in the Signals tab, select a signal and click the Format button.

    Note: The Format Signal window for the signal being inserted will open automatically if the Format check box in the Insert Study window is checked.

  2. Select the Entries or the Exits tab, for entry or exit points, respectively.
  3. In each section, in the Color column, select a color for each of the components from the drop-down palette box.
  4. In the Style column select the component style from the drop-down list box.
  5. In the Size column select the component size from the drop-down list box; only the size of arrows and ticks can be set.

Tip: To use these style settings as default for the selected signal, check Use as Default check box.


Intra-Bar Order Generation

You can select whether to allow the signal to generate orders within a bar, or only at the close of each bar.

A signal contains one or more Order Commands that generate entry or exit orders. A limit to the number of orders that can be generated within a single bar by each order command or by all of the signal’s order commands can be set.

Intra-Bar Order Generation is set from the Format Signal window:

  1. Open the Format Signal window.

    To open the Format Signal window, position the mouse pointer over one of the signal's Arrows, Ticks, or Labels;
    double-click once the Pointer Pointer.png changes into a Hand Hand.png; in the Format Objects window that appears, select a signal and click the Format button.

    The Format Signal window can also be opened by one of the following methods:
      - Position the mouse pointer over one of the signal's Arrows, Ticks, or Labels;
    once the Pointer Pointer.png changes into a Hand Hand.png, right-click and then click Format Signals; in the Format Objects window that appears, select a signal and click the Format button
      - Open the Format Objects window; in the Signals tab, select a signal and click the Format button.

    Note: The Format Signal window for the signal being inserted will open automatically if the Format check box in the Insert Study window is checked.

  2. Select the Properties tab.
  3. Check Enable Intra-Bar Order Generation check box to allow the signal to generate orders within a bar; uncheck the box to allow the signal to generate orders only at the close of each bar.

If this option is grayed out then the Intra-Bar Order Generation condition is specified in the signal's code.

The strategy can send different amount of orders depending on the selected IOG mode:

  1. Select the required mode for entries:
    • To limit entries from the same signal in this strategy to once per bar, click Limit entries from the same signal in this strategy to once per bar radio button.
    • To limit entries from all signals in this strategy to once per bar, click Limit entries from all signals in this strategy to once per bar radio button.
    • To allow the signal multiple entries per bar, click Allow any entry from this strategy to occur ... times per bar radio button and specify the value from 1 to 10 000.
  1. Select the required mode for exits:
    • To limit exits from the same signal in this strategy to once per bar, click Limit exits from the same signal in this strategy to once per bar radio button.
    • To limit exits from all signals in this strategy to once per bar, click Limit exits from all signals in this strategy to once per bar radio button.
    • To allow the signal multiple exits per bar, click Allow any exits from this strategy to occur multiple times per bar radio button.

Tip: To use these settings as default for the selected signal, check Use as Default check box.


Note: Allowing multiple same-direction entry orders in the Position Limits section of Strategy Properties window will not override the above settings.