Percent Asymmetric Instructions Tradestation and MultiCharts
If you require this item for a different platform please visit the product guide
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Importing into Tradestation and Multicharts When you purchase this product you receive a file by email, you can save this file to your desktop. In Multicharts open up the power language editor and click on file, import read only then select the file I sent you from the desktop Percent Asymmetric signal and Indicator will then appear in the list of studies in your Multicharts platform. There are two files which need to be complied. Percent Asymmetric Indicator and Percent Asymmetric Signal, if MultiCharts does not automatically do this then open both files and click on the compile button in power editor Multicharts and Tradestation set up and useage Create a chart window and add the symbol and time frame and chart style of your preference Left click the chart screen and select insert study, select the Percent Asymmetric indicator from the list You will need to set max number of bars the study will reference to user specified 50 ( SAME FOR SIGNAL AND INDICATOR) In the subchart box please select subgraph 1 Then click the scaling tab and select same as symbol ( this sets it up to be scaled correctly to the chart ) In the inputs tab you now choose the long and short percentage you require. Click OK
Once you have decided approximate settings for the indicator you can add the signal. This is done in the same was as adding the indicator but you must remember to add the exact same settings and also add the commission rules that match the instruments chosen. If this is not done then any strategy testing will be incorrect.
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You can adjust the long and short percentages until they appear approximately "correct" ( This means they catch the major trends without too many flips ) Once you have decided approximate settings for the indicator you can add the signal in the same way as you did with the indicator above and taking care to ensure you have used the exact same percentage settings. Proceed to add the commission rules to match your chosen market or any strategy performance testing will be incorrect.
IMPORTANT NOTE
To see the plot clearly and to avoid multiple signals occurring on the same bar it is important to observe the indicator flipping events. If the indicator is hugging the price chart very tightly this usually means you need to reduce the time frame sampling down for weekly to daily or from 30 minute to 10 minute. The MultiCharts platform whilst being excellent cannot compute strategy results when having multiple signals occuring on the same bar as the order of the events are not known in historic "big bar" data. See picture example below to clarify this.
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Below = Correct approximate percentage selection ( A very volatile stock on weekly data needs a very wide percentage ) |
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Below = Incorrect approximate percentage selection ( Much too tight for the price range of each bar ) If the plot looks like the chart below, either increase the percentage distances or reduce the time frame in this case you could reduce to daily from weekly |
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| Percent Asymmetric strategy optimization procedure |
One of the stunning features in MultiCharts is the 3d chart produced by optimizations, it gives a perfect clear picture of what is going on. The desired shape to see when iterating through the various percentages is the well know bell curve. If you achieve this, then there is a good chance that Percent Asymmetric will work very well with settings from the mid point of the bell curve. If you do not see a bell curve distribution pattern then experiment with different market instruments and different percentage settings. The final system you select to use ideally needs to produce a nice smooth rising equity curve chart with low draw downs which are small relative to the profit achieved. If you have not seen a smooth rising equity curve AND a bellcurve in your testing then it is not advisable to use it on that market. The good news is that these days there are hundreds of thousands of markets to choose from. The chart below shows an optimization between 2 and 15% with steps of 0.2% clearly we see a nice bell curve with best settings between 5 and 6% |
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The procedure of optimization is quite simple, just follow these steps |
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Alert activation method |
Percent Asymmetric indicator has a build in feature to generate an alert to your chart screen, or email service if required. To set up alerts, plot the indicator, right click on it, choose format indicator, open the alerts tab and the choose the sound file of your choice, this can be set to play once or repeatedly. It is a good idea to create your own folder with different sound files so you will know which sound means what, for me its a rooster that lets me know :) |
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Email alert activation method |
| If you wish it to send emails, then in the
same alert tab, check the box email, then press settings. You can then type in your email address, port number and SMTP server settings |
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Troubleshooting If you see a message like this appear on MultiCharts it means that your license has expired. You can either remove the indicator from the chart or purchase a new license. |
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| RISK DISCLOSURE |
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Hypothetical performance results have
many inherent limitations, some of which are described below. no
representation is being made that any account will or is likely to
achieve profits or losses similar to those shown; in fact, there are
frequently sharp differences between hypothetical performance results
and the actual results subsequently achieved by any particular trading
program. One of the limitations of hypothetical performance results is
that they are generally prepared with the benefit of hindsight. In
addition, hypothetical trading does not involve financial risk, and no
hypothetical trading record can completely account for the impact of
financial risk of actual trading. for example, the ability to withstand
losses or to adhere to a particular trading program in spite of trading
losses are material points which can also adversely affect actual
trading results. There are numerous other factors related to the markets
in general or to the implementation of any specific trading program
which cannot be fully accounted for in the preparation of hypothetical
performance results and all which can adversely affect trading results.
HYPOTHETICAL PERFORMANCE
DISCLOSURE
Admin notes
Page modified July 18th 2023 resp-canonical-