In celebration of TradeStation Bonanza weekend we are putting out a beta version of our 4% indicator free for those registered on the site.  We are also issuing a 4% backtesting strategy for our gold members.

This indicator is a nice example of using the new TS9 price series provider object to retrieve price data from a 2nd symbol using a different timeframe.  Currently that time frame is fixed to weekly.

 

If you need reminding what the 4% system is you can go here:

http://www.redliontrader.com/tools/zweig-ned-davis-4-system/

The defaults are set to retrieve the Value Line Index which is the basis of the 4% system.  Once nice thing about the indicator is that for most of us, the Value Line Index $VAY is available only delayed.  TradeStation does not allow you to mix delayed data streams with other symbols.  The Price Series Provider does, however.

 

The sample worksheet has the Value Line Index driving the indicator, while any other symbol can be used as the main chart symbol.  For anyone who has tried this before using just data streams you are now saying “Cool”.

 

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(click on the chart to enlarge)

The chart above is the Continuous SP500 futures contract on a daily basis with the 4 % indicator below showing the % move of the value-line index.  You can clearly see from the indicator that we had several buy signals (the red line moves above the 4% blue line) since September, but this is the first time we have a sell signal (line moves below the –4% yellow line).

 

We have several enhancements planed for this indicator but we want to get a beta version out there for our members to try.

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The inputs are quite simple.  The symbol you want to use to track, in our case the Value Line Symbol $VAY and where you want to draw the oversold and overbought lines and again in our case 4%.

Hope you enjoy it.  Let us know what you would like to see for future development.  Remember this has to be TradeStation 9.0 our above to use!.

 

This download does not include the strategy for backtesting or trading.  That is only available to gold members.  If you are interested in using the strategy and becoming gold you can find out more here:

http://www.redliontrader.com/membership/

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This content is only available to premium members.  If you would like to join and have access to all my indicators checkout the current special being offered here:  <a href=”http://www.redliontrader.com/membership/”>Premium Membership </a>

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Installation Instructions:

1. Download the ELD and install first

2. Download the sample worksheet

ELD Download:

Worksheet Download: