| Ziad |
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Gold User, Member, Platinum User, TeleChart
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| Registered User |
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| Unsure |
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| Wednesday, March 15, 2006 |
| Friday, March 24, 2006 3:45:12 PM |
15
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Over the last few days I've been trying out Telechart Platinum for day trading using a candlestick methodology. As general comments, the program is excellent and very user friendly, and the training support is unparalleled.
However, I am finding one major problem now that I am actually trying to apply my strategy. Basically, since I need to scan for candlestick patterns in real-time, I have to build custom indicators and sort through those. And this, I am finding, is extremely slow to do. I have a very fast broadband internet connection and a fast computer, but it is still taking several minutes to scan through only 500 stocks, and more often than not the scan fails when it reaches the 50th stock and tells me that I am trying to scan too many real-time symbols at once.
Now since I trade off of 15 minute bars, it will obviously be very innefective if it takes me more than 5 minutes to scan, and if the scanning is frequently interrupted as it is.
So basically, my only real question is: how can I find a way around this? I really like the software and I do not want to cancel my subscription, but if this is how fast my scanning will have to be then I'll have no other choice. Is there any solution for me within Telechart?
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Well i'm definitely gonna try urs if it makes the scans faster. Thanks a lot for ur help again.
I might me asking frequent questions but that's just because I'm still setting up my whole system. Hopefully when things are under way i'll take up a lot less of ur time :)
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If decreasing formula length makes the difference, then there is one definite place I could work on. Basically, I am putting conditions to quantify a long candles. To do this I've used ur "long hand" suggestion below. These long candle qualifications are the bulk of my formulas. I know you had suggested a shorter one based on trading range: AVGH13-AVGL13. But a long candle in my opinion is a condition that relates to the previous candle bodies, whithout taking the shadows into account. That's why I was using this long hand. But if there is a way to compare Candle body length with a previous range with a much shorter formula that would be great.
100 * (ABS(C - O) / ((ABS(C - O) + ABS(C1 - O1) + ABS(C2 - O2) + ABS(C3 - O3) + ABS(C4 - O4) + ABS(C5 - O5) + ABS(C6 - O6) + ABS(C7 - O7) + ABS(C8 - O8) + ABS(C9 - O9) + ABS(C10 - O10) + ABS(C11 - O11) + ABS(C12 - O12)) / 13)) > 200
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I've created two percent true customs indicators. I use one to scan for 4 bullish candlestick patterns, and the other for 4 bearish candlestick patterns. Given the fact that each one has 4 individual boolean formulas, that makes for one very long formula for each.
I thought that might work, but now I am finding that it is taking extremely long to do real-time sorts. Moreover, even switching between different time frames on the charts or calling up different charts is extremely slow. Is that because the charts contain indicators that use long formulas requiring many calculations?
If this is the case, what is my solution? Breaking each indicator down to numerous ones wouldn't do the trick because all of them would still be on the same chart. And then I would have to sort for each pattern which would take long in itself. Is there any way to effectively do real-time sorts for candlestick patterns in a quick manner that doesn't tie down the system? Because right now i'm not being able to trade- it's just too slow to scan and sort.
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Ok thanks a lot for ur help!
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Ok that looks good, but what number should I require it to be greater than or less than so that it becomes Boolean formula in my custom indicator?
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A few Comments:
1) I assume in the first formula you put, you meant to write AVGC and AVGO instead of AVGH and AVGL.
2) when you put 100*something, this isn't a boolean formula anymore is it? Don't you then need the % meter found in the scanning option? If so, I don't think this is available when writing a percent true custom indicator. Or could you just put something like 100*X > 200?
3) About the first question, yes I am looking for a formula that looks for short-term up or down trend, but I don't want a certain percentage because I am doing it intraday and each stock has a different volatility. I was seeing if there is anyway to quantify that an up or down trend was in effect in the last few price bars, without specifying a certain percentage.
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If a certain condition you are looking for requires that a short term uptrend or downtrend be present before it, it is easy to incorporate this into a scan by choosing one of the % price change filters. But if you are building a custom percent true indicator, how can you incorporate previous short term trend into the Boolean formula?
As a related question, what do you think is the best way to quantify long candles (as opposed to short ones)? I'm trying to use something like this: ABS(O - C) > (2 * ABS(AVGO13 - AVGC13)). Is AVGO13 - AVGC13 mathematically equivalent to AVG(O-C)13? I think the latter is a syntax error.
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oh ok.... thanks about that explanation too.
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Well that's quite smart :) It worked....
Thanks a lot for your help!
And I have to say that your quick service is excellent and very helpful.
Thanks again...
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