Note*** New version 1.1 removes an event handler that was just a little too active and had the effect of bogging down the workstation. Performance of 1.1 should be greatly improved.
This is version 1.0 1.1 release of two indicators, a chart transmitter and receiver that are specifically designed to be used on the workspace provided. Although the symbols can change, the basic setup is specific and the workspace is included in the downloads.
The workspace consists of four charts. The upper left chart is a look at the percentage of stocks trading above their 50 day moving average. In general, if the signal line is above the 20 DMA (CYAN), I am bullish, if below, I am bearish. This is a slow moving swing type indicator. The histogram at the bottom of this chart is a combined score for the three tracked indexes.
The middle chart is a look at a 10 day cycle to determine how the market has moved in the last ten days. Bars to the upside indicate upward movement in the market, negative bars the opposite.
The last chart on the top row is a look at 52 week new highs and is a great tell on topping divergence weakness (new market highs with a lower number of symbols making highs). Stair stepping up and down indicates underneath weakness and strength that may or may not be reflected in the daily price of the index.
The bottom chart is a look at the $SPX (this symbol can be changed to whatever you like). The histogram at the bottom is the combined breadth score for the nine indicators.
This chart and code ONLY WORKS ON TRADESTATION 9.0 AND ABOVE, as it uses the new OOEL extensions. Source code is included and is a reasonable example of using the new global dictionary.
MAlen – Length of the moving average to use to calculate momentum
bType – Used by the global dictionary to uniquely identify the receiver’s data
MaxBars – how many bars back to look for creating the symbols
version – Current version (do not change)
This indicator is used in the 10 day cycle window and must be installed separately for all three symbols.
Price: Type of price to use (High, Low, Close) – remember you can do math in parameter, inputs so if you want the daily pivot, enter “(H+L+C)/3” in the price input.
maLen: The length of the moving average
version: The current version – do not change
numElements: number of elements to expect in the GlobalDictionary
KeyPrefix: not used
version: current version do not change
This is a premium members only indicator and workspace so you must be gold level or higher to download this indicator:
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>
This is the ELD with all 3 indicators packaged. Remember to install this before the workspace.
Note: This is version 1.1 that removes an overactive event handler
This is the workspace that should give you the setup that looks identical to the picture above:
As always if you need support: firstname.lastname@example.org