Tweet
Calling all EFS experts out there!
Please can someone tell me if it's possible to create a study along the lines outlined below and, if so, can you post (or PM me) the contact details of the person or company who can create it. Here's what I want to do . . .
The Study
I day trade U.S. equities and have about 100 pre-selected stocks listed in a quote screen, based on their liquidity and volatility. I then click through the list one stock after another, hoping to spot a specific set up. As you can imagine, it's a tedious process and one that's rather 'hit and miss'. I use a variety of timeframes (15 minutes is the main one) and all charts display the following:
Weighted Moving Average (WMA5)
Length:5 Offset:0 Source: (H+L+C)/3
Average True Range (ATR14)
Length:14
I want the study to overlay lines on a stock advanced chart that are similar to Bollinger Bands, although the calculation is different, obviously! The lines would be 'drawn' above and below the WMA5 by a set multiple of ATR14. Just as it's possible to adjust the standard deviation lines on Bollinger Bands, I would hope to be able to adjust the multiple of ATR14. For example, (using a 15 min' chart) AAPL is trading at $174.30. The WMA5 is at $174.65. ATR14 is 0.90. If the new study is set to display a line above and below the WMA5 by a factor of 1.5 x ATR14, then the reading for the top line will be 176.00 (1.5 x 0.90 + 174.65) and the lower line reading will be 173.30 (1.5 x 0.90 - 174.65). Note that it's the WMA5 that's key to the study and not the stock's trading price.
The Alert
I want an adaptive alert that pops up telling me that the price of a stock - AAPL in the example above, has risen and hit the upper study line at 176.00 (or fallen to the lower one at 173.30). I say 'adaptive' because both ATR14 and the WMA5 are changing continuously; especially the latter which can jump significantly at the start of each new bar/candle. Although having the lines overlaid on the chart would be a really useful visual aid, it's the alert that I'm concerned with most as this should get me looking at the right stocks at the right time and save me from having to cycle endlessly through stocks that are of no interest.
That's it. Please can someone tell me:
A) whether or not it's possible to create the study and the alert especially as outlined, and . . .
B) if it is, provide the contact details of the person or company that can build it.
Thanks for your help.
P&Fman
Please can someone tell me if it's possible to create a study along the lines outlined below and, if so, can you post (or PM me) the contact details of the person or company who can create it. Here's what I want to do . . .
The Study
I day trade U.S. equities and have about 100 pre-selected stocks listed in a quote screen, based on their liquidity and volatility. I then click through the list one stock after another, hoping to spot a specific set up. As you can imagine, it's a tedious process and one that's rather 'hit and miss'. I use a variety of timeframes (15 minutes is the main one) and all charts display the following:
Weighted Moving Average (WMA5)
Length:5 Offset:0 Source: (H+L+C)/3
Average True Range (ATR14)
Length:14
I want the study to overlay lines on a stock advanced chart that are similar to Bollinger Bands, although the calculation is different, obviously! The lines would be 'drawn' above and below the WMA5 by a set multiple of ATR14. Just as it's possible to adjust the standard deviation lines on Bollinger Bands, I would hope to be able to adjust the multiple of ATR14. For example, (using a 15 min' chart) AAPL is trading at $174.30. The WMA5 is at $174.65. ATR14 is 0.90. If the new study is set to display a line above and below the WMA5 by a factor of 1.5 x ATR14, then the reading for the top line will be 176.00 (1.5 x 0.90 + 174.65) and the lower line reading will be 173.30 (1.5 x 0.90 - 174.65). Note that it's the WMA5 that's key to the study and not the stock's trading price.
The Alert
I want an adaptive alert that pops up telling me that the price of a stock - AAPL in the example above, has risen and hit the upper study line at 176.00 (or fallen to the lower one at 173.30). I say 'adaptive' because both ATR14 and the WMA5 are changing continuously; especially the latter which can jump significantly at the start of each new bar/candle. Although having the lines overlaid on the chart would be a really useful visual aid, it's the alert that I'm concerned with most as this should get me looking at the right stocks at the right time and save me from having to cycle endlessly through stocks that are of no interest.
That's it. Please can someone tell me:
A) whether or not it's possible to create the study and the alert especially as outlined, and . . .
B) if it is, provide the contact details of the person or company that can build it.
Thanks for your help.
P&Fman
Comment