Trading Alchemy
Strategies Instruction Manual
Last Updated: |
01/11/2023 |
Table of Content
Importing the strategies into your trading platform
The Alchemy Bollinger Band Strategy (AlchemyBollingerBand)
The Alchemy Breakout Entry Strategies
The Alchemy Opening Bar Breakout Strategy (AlchemyOpenBarBrkout)
The Alchemy Candle Trend Strategy (AlchemyCandleTrend)
The Alchemy Counter Trend Strategy
Detrended Price Oscillator Entry Strategy (AlchemyDPO)
Divergence Strategies
%Ds-Signal Line Divergence Strategies
The Alchemy %Ds-Signal Line Divergence Complete Strategy
The Alchemy %Ds-Signal Line Divergence Entry-Exit Strategies
The Alchemy Custom Divergence Entry/Exit Strategies
The Alchemy Custom Hook Divergence Entry/Exit Strategies
The Alchemy Custom Divergence Strategy
Divergence Entry/Exit Strategies
The Alchemy CCI Divergence Entry/Exit Strategies
The Alchemy CCI Hook Divergence Entry/Exit Strategies
The Alchemy RSI Divergence Entry/Exit Strategies
The Alchemy RSI Hook Divergence Entry/Exit Strategies
The Alchemy Stochastics Divergence Entry/Exit Strategies
The Alchemy Stochastics Hook Divergence Entry/Exit Strategies
The Alchemy MACD Divergence Entry/Exit Strategies
The Alchemy MACD Hook Divergence Entry/Exit Strategies
The Alchemy TICK Divergence Entry/Exit Strategies
The Alchemy TICK Hook Divergence Entry/Exit Strategies
Complete Divergence Strategies
The Alchemy CCI Divergence Complete Strategy (AlchemyUltDivCCIMach)
The Alchemy Dual Data Divergence Complete Strategy (AlchemyUltDiv2DataMa)
The Alchemy MACD Divergence Complete Strategy (AlchemyUltDivMACDMch)
The Alchemy RSI Divergence Complete Strategy (AlchemyUltDivRSIMach)
The Alchemy Stochastic Divergence Complete Strategy (AlchemyUltDivStochMa)
Ultimate Divergence Machine Complete Strategy (AlchemyUltDivgMach)
Universal Divergence Strategy (AlchemyUniversalDivg)
Engulfment/Reversal Entry/Exit Signals
The Alchemy Engulfment Entry/Exit Signals
The Alchemy Reversal Entry/Exit Signals
The Alchemy Double BotTop Entry/Exit Signals
The Alchemy Breakeven Exit Strategy (AlchemyBreakEvenExit)
The Alchemy Daily Accumulated Profit-Loss Exit Strategy (AlchemyDailyAccumProfitLossExit)
The Alchemy Dynamic Target Exit Strategy (AlchemyExitDynTarget)
The Alchemy End Of Day Exit Strategy (AlchemyEndOfDayExit)
The Alchemy Entry/Exit Strategies
The Alchemy Exit Strategy (AlchemyExit)
The Alchemy Exit Long Short Strategy (AlchemyExitLongShort)
The Alchemy Percent Stop-Target Exit Strategy (AlchemyExit-%StopTar)
The Alchemy Stop-Target Exit Strategy
The Alchemy Manual Exit Strategy
Trailing Stop Entry Strategies
The Alchemy Pivot Stop Entry Strategies
The Alchemy Distance Trailing Stop Exit Strategy (AlchemyDistTrailStop)
The Alchemy Percent Stop Exit Strategy (AlchemyPercentStop)
The Alchemy Pivot High-Low Stop Exit Strategies (AlchemyPivotHighSS/AlchemyPivotLowLS)
The Alchemy Pivot Stop Exit Strategies
The Alchemy Volatility Stop Exit Stratgies
Fibonacci Retracement Strategies
The Alchemy Trend Retrace Strategy
The Alchemy Daily Retrace Strategy
The Alchemy Pivot Retrace Strategie
The Alchemy S&P Pivot Retrace Strategy
The Alchemy Fibonacci Retrace Strategy (2000i only)
Floor Traders Pivot Points Strategies
The Alchemy Floor Traders Pivot Points Reversal Entry Strategy (AlchemyFTPRevEntry)
The Alchemy Floor Traders Pivot Points Strategy
The Alchemy Heikin-Ashi Entry Strategy (AlchemyHeikinAshiEntry)
The Alchemy Heikin-Ashi Exit Strategy (AlchemyHeikinAshiExit)
The Alchemy Moving Average Slope Exit Strategy (AlchemyMASlopeExit)
Single Line Moving Average Strategies
Moving Average Cross Strategy (AlchemyMACross)
Single Line Moving Average Strategy (AlchemyMASingleLine)
Single Line Moving Average OOEL Strategy (AlchemyMASingleLine.OOEL) Available for TradeStation 9/10 only!
Single Line Moving Average Long-Short Strategy (AlchemyMASingleLineLongShort)
Single Line Moving Average Long-Short OOEL Strategy (AlchemyMASingleLineLongShort.OOEL) Available for TradeStation 9/10 only!
2 Line Moving Averages Strategies
2 Line Moving Averages Momentum Strategies
2 Line Moving Averages Crossover Strategy (AlchemyMA2LineCross)
2 Line Moving Averages Cross - Linear Regression Strategy (AlchemyMA2Line-LinRegr)
2 Line Moving Averages Crossover Complete Strategy (AlchemyMA2LCrossComp)
Multiple Moving Averages Crossover Strategies
Multiple Moving Averages Crossover Entry-Exit Strategies
The Alchemy MvgAvg2Line Entry/Exit Strategies
The Alchemy MvgAvg3Line Entry/Exit Strategies
Multiple Moving Averages Crossover Complete Strategies
The Alchemy MvgAvg2Line Strategy
The Alchemy MvgAvg3Line Strategy
Overbought-Oversold Strategies
The Alchemy OverBought-Oversold Simple Strategy (AlchemyOVB-OVS Simple)
The Alchemy OverBought-Oversold Strategy
The Alchemy OverBought-Oversold Exit Strategy
The Alchemy OverBought-Oversold Dual Data Strategy
Pivots Strategies
Pivot Reversal Strategy (AlchemyPivotReversal)
The Alchemy Pivots Entry/Exit Signals
RCI Entry Strategy (AlchemyRCI)
Renko Entry-Exit Strategy (AlchemyRenkoCustomTrend)
Reversal Patterns Strategy (AlchemyReversalPatterns)
Stochastic Entry Strategy (AlchemyStochasticEntryStrategy)
The Alchemy Strong Trend Complete Strategy
The Alchemy Strong Trend Entry Strategies
The Alchemy TrendCatcher Strategy (AlchemyTrendCatcher)
The Alchemy TrendCatcher Complete Strategy (AlchemyTrendCatcherComplete) Available for TradeStation 9/10 only!
The Alchemy Trend Complete Strategy (Alchemy TrendStrat)
The Alchemy Trend Complete Strategy - Heikin-Ashi Entry (AlchemyTrendStrategyHeikinAshiEntry)
The Alchemy Trend Complete Strategy - TrendCatcher Entry (AlchemyTrendStrategyTrendCatcherEntry)
The Alchemy Trend Complete Strategy for TradeStation 8 and MultiCharts (Alchemy TrendStratTS8)
The Alchemy TrendDirection Strategy
The Alchemy TrendCatcher Strategy
The Alchemy Trend Entry/Exit Strategies
The Alchemy TrendDirection Entry/Exit Strategies (AlchemyTrendDirection LE, SE, LX and SX)
Trendline Strategies
Trendline Strategy (AlchemyTrendLine)
Trendline Channel Strategy (AlchemyTrendLineChan)
TSI Entry Strategy (AlchemyTSI)
Volatility Strategies
The Alchemy Volatility Entry-Exit Strategy (AlchemyVolatilityEntryExit)
The Alchemy W-M Entry Strategy (AlchemyW-M EntryStrategy) Available for TradeStation 9/10 only!
Dear Trader,
Thank you for choosing Trading Alchemy for your trading software needs.
This manual will cover all the Trading Alchemy strategies in addition to issues related to chart building. We have attempted to develop a detailed and thorough instruction manual, which takes you step-by-step through each process in building and applying your Trading Alchemy indicators. Please take the time to read and familiarize yourself with the technical aspects included in the manual.
If you still have questions after reviewing the manual and the Trading Alchemy web site, please direct your questions to technicalsupport@tradingalchemy.com. We appreciate your business and wish you the best in your trading endeavors.
TradeStation 9/10:
1. From TradeStation 8/9, click on "File" - "Import/Export EasyLanguage...".
2. In the "Import/Export Wizard" screen, select the option, Import EasyLanguage File (ELD, ELS or ELA) and click on "Next".
3. In the "Import Wizard" screen, click on "Browse"
4. In the "Open" screen, browse to the location on your hard drive where you downloaded your strategy file to, select the strategy file and click on Open.
5. In the "Analysis Type" dialog, click on “Select All” and make sure that everything listed in the dialog is checked. Then click on "Next". In the "Available analysis techniques" dialog, click on “Select All” and make sure that everything listed in the dialog is checked. Then click on "Finish".
6. In the “Warning” message (Overwrite exisiting?) click on “Yes to all”.
This transfers all of our strategies into your charting program.
MultiCharts:
1. From the Power Language Editor, click on "File" - "Import Read-Only...".
2. In the "Select Files" screen, browse to the location on your hard drive where you downloaded your indicator file to, select the indicator file and click on Open.
3. In the "Import studies" window, click on "OK".
This transfers all of our strategies into your charting program.
TradeStation 2000i:
1. From the EasyLanguage PowerEditor, click on "File" - "Import and Export...".
2. In the "Import and Export Wizard" screen, select the first option, Import EasyLanguage Archive or Storage File (ELA or ELS) and click on "Next".
3. In the "Import Wizard" screen, click on "Browse"
4. In the "Open" screen, browse to the location on your hard drive where you downloaded your strategy file to, select the strategy file and click on Open.
5. In the "Analysis Type" dialog, click on “Select All” and make sure that everything listed in the dialog is checked. Then click on "Next". In the "Available analysis techniques" dialog, click on “Select All” and make sure that everything listed in the dialog is checked. Then click on "Finish".
6. In the “Warning” message (Overwrite exisiting?) click on “Yes to all”.
This transfers all of our strategies into your charting program.
TradeStation 4.0 and SuperCharts RT:
1. Go to the “QuickEditor”.
2. Click on the “Transfer” button. In the “Transfer Analysis Techniques” screen, make sure that the “Transfer analysis techniques FROM EasyLanguage Archive File” radio button is selected. Then click on “OK”.
3. In the “Transfer from archive file” screen, click on the "Browse" button and find the downloaded file and click on it. Then click on “OK”. This will put the selected file into the "From:" field. Then click on “OK”.
4. In the “Transfer” screen, check “Transfer All”. Then click on “OK”. In the “Warning” message (Overwrite exisiting?) click on “Yes to all”.
This transfers all of our strategies into your charting program.
The Alchemy %Ds-Signal Line Divergence Entry/Exit Signals consist of the AlchemyDsSigDivBuy long entry signal, the AlchemyDsSigDivLongX long exit signal, the AlchemDsSigDivSell short entry signal and the AlchemyDsSigDivShrtX short exit signal. For 2000i, all 4 signals are combined into the AlchemyDsSigDivSig strategy.
User Defined Inputs for the long and short entry signals:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
User Defined Inputs for the long and short exit signals:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
%D Slow and MACD Signal Line Parameters:
PriceH |
Specifies the value to use as the high in stochastic calculations |
PriceL |
Specifies the value to use as the low in stochastic calculations |
PriceC |
Specifies the value to use as the close in stochastic calculations |
StochLength |
The trailing number of bars to consider |
SmoothingLength1 |
The number of bars to consider for the average of the fast K line |
SmoothingLength2 |
The number of bars to consider for the average of the slow K line |
SmoothingType |
‘1’ will generate calculations based on the original formula, ‘2’ will conform to legacy TradeStation calculations |
MinHook |
This user-defined input adjusts the minimum slope distance requirement for a hook of the %DSlow. We optimized this input to a slope distance of 0.35. |
FastLength |
Number of trailing bars to consider for the MACD fast average |
SlowLength |
Number of trailing bars to consider for the MACD slow average |
MACDLength |
Number of trailing bars to consider for the MACD signal line average |
%D Slow and MACD Signal Line Parameters for Legacy indicators (L):
KIntervl: |
This user-defined input adjusts the %K length of the %DSlow. We optimized this input to a length of 5 bars. |
DIntervl: |
This user-defined input adjusts the %D length of the %DSlow. We optimized this input to a length of 5 bars. |
DSlowInt: |
Specifies the value to use as the close in stochastic calculations |
MinHook: |
This user-defined input adjusts the minimum slope distance requirement for a hook of the %DSlow. We optimized this input to a slope distance of 0.35. |
Price: |
Allows you set the bar's price for which the signal line are based on. It is defaulted to Close. |
EMA1Len: |
This user-defined input adjusts the bar length for the fast moving average of the signal line. A setting of 0, uses the smoothing factor percentage entered in the " EMA1Fact" input. It is defaulted to 0. |
EMA1Fact: |
This user-defined input adjusts the smoothing factor percentage for the fast moving average of the signal line. A setting of 0, uses the bar length entered in the " EMA1Len" input. We optimized this input to a smoothing factor of 0.8. |
EMA2Len: |
This user-defined input adjusts the bar length for the slow moving average of the signal line. A setting of 0, uses the smoothing factor percentage entered in the " EMA2Fact" input. It is defaulted to 0. |
EMA2Fact: |
This user-defined input adjusts the smoothing factor percentage for the slow moving average of the signal line. A setting of 0, uses the bar length entered in the " EMA2Len" input. We optimized this input to a smoothing factor of 0.3. |
SigLen: |
This user-defined input adjusts the bar length for the signal line. A setting of 0, uses the smoothing factor percentage entered in the " SigFact" input. It is defaulted to 0. |
SigFact: |
This user-defined input adjusts the smoothing factor percentage for the signal line. A setting of 0, uses the bar length entered in the " SigLen" input. We optimized this input to a smoothing factor of 0.5. |
User Defined Inputs all signals:
CandleSig |
This user-defined input set to true, requires an up close candle after bullish divergence before a long signal is generated and a down close candle after bearish divergence before a short signal is generated. A setting of false turns this requirement off. This input is defaulted to true |
MaxCandleLag |
This user-defined input sets the maximum number of bars for the up candle/down candle to occur after the divergence signal. A negative value disregards any maximum number of bars. This input is defaulted to -1. |
DivPrDi |
This user-defined input adjusts the minimum required distance for a double top/bottom. A negative number allows for the divergence price high/low to be shy of the previous price high/low by number of points. A positive number requires for the divergence price high/low to have penetrated the previous price high/low by number of points. We optimized this input to a distance of 0 point. |
DivOsc1Di |
This user-defined input adjusts the minimum required distance for %DSlow to be higher than the previous %DSlow to qualify for bullish divergence and the minimum required distance for %DSlow to be lower than the previous %DSlow to qualify for bearish divergence. It is defaulted to 0. |
DivOsc2Di |
This user-defined input adjusts the minimum required distance for the Signal Line to be higher than the previous Signal Line to qualify for bullish divergence and the minimum required distance for the Signal Line to be lower than the previous Signal Line to qualify for bearish divergence. It is defaulted to 0. |
Osc1LagLen |
This user-defined input adjusts the maximum number of bars for the %DSlow hook to lag price. We optimized this input to a distance of 5 bars. |
MaxOsc2Offset |
This user-defined input adjusts the maximum number of bars for the Signal Line peaks/valleys to be offset by price. We optimized this input to a distance of 2 bars. |
MaxPivBack |
This user-defined input adjusts the maximum number of %DSlow hook pivots to look back for divergence. We optimized this input to a distance of 1 pivot. |
MinDivLen |
This user-defined input adjusts the minimum number of bars between the previous high/low and the divergent high/low. It is defaulted to 0 bars. |
MaxDivLen |
This user-defined input adjusts the maximum number of bars between the previous high/low and the divergent high/low. A setting of 0 disables a maximum number of bars requirement. It is defaulted to 0 bars. |
NumOsc |
Allows you to change the number of divergence oscillators. A setting of 2 requires both, %DSlow and the Signal Line for divergence. A setting of 1 requires only the primary oscillator 1 for divergence, which could be either the %DSlow or the Signal Line, depending on the "PrimaryOsc" setting,. It is defaulted to 2. |
PrimaryOsc |
Allows you to set the primary oscillator 1 and the secondary oscillator 2. A setting of 1 uses %DSlow as primary oscillator 1 and the Signal Line as secondary oscillator 2. A setting of 2 uses the Signal Line as primary oscillator 1 and %DSlow as secondary oscillator 2. It is defaulted to 1. |
The rest of the inputs are advanced inputs and they are not designed to be changed.
To view chart, go to:
User Defined Inputs:
%D Slow and MACD Signal Line Parameters:
PriceH |
Specifies the value to use as the high in stochastic calculations |
PriceL |
Specifies the value to use as the low in stochastic calculations |
PriceC |
Specifies the value to use as the close in stochastic calculations |
StochLength |
The trailing number of bars to consider |
SmoothingLength1 |
The number of bars to consider for the average of the fast K line |
SmoothingLength2 |
The number of bars to consider for the average of the slow K line |
SmoothingType |
‘1’ will generate calculations based on the original formula, ‘2’ will conform to legacy TradeStation calculations |
MinHook |
This user-defined input adjusts the minimum slope distance requirement for a hook of the %DSlow. We optimized this input to a slope distance of 0.35. |
FastLength |
Number of trailing bars to consider for the MACD fast average |
SlowLength |
Number of trailing bars to consider for the MACD slow average |
MACDLength |
Number of trailing bars to consider for the MACD signal line average |
%D Slow and MACD Signal Line Parameters for Legacy indicators (L):
KIntervl: |
This user-defined input adjusts the %K length of the %DSlow. We optimized this input to a length of 5 bars. |
DIntervl: |
This user-defined input adjusts the %D length of the %DSlow. We optimized this input to a length of 5 bars. |
DSlowInt: |
Specifies the value to use as the close in stochastic calculations |
MinHook: |
This user-defined input adjusts the minimum slope distance requirement for a hook of the %DSlow. We optimized this input to a slope distance of 0.35. |
Price: |
Allows you set the bar's price for which the signal line are based on. It is defaulted to Close. |
EMA1Len: |
This user-defined input adjusts the bar length for the fast moving average of the signal line. A setting of 0, uses the smoothing factor percentage entered in the " EMA1Fact" input. It is defaulted to 0. |
EMA1Fact: |
This user-defined input adjusts the smoothing factor percentage for the fast moving average of the signal line. A setting of 0, uses the bar length entered in the " EMA1Len" input. We optimized this input to a smoothing factor of 0.8. |
EMA2Len: |
This user-defined input adjusts the bar length for the slow moving average of the signal line. A setting of 0, uses the smoothing factor percentage entered in the " EMA2Fact" input. It is defaulted to 0. |
EMA2Fact: |
This user-defined input adjusts the smoothing factor percentage for the slow moving average of the signal line. A setting of 0, uses the bar length entered in the " EMA2Len" input. We optimized this input to a smoothing factor of 0.3. |
SigLen: |
This user-defined input adjusts the bar length for the signal line. A setting of 0, uses the smoothing factor percentage entered in the " SigFact" input. It is defaulted to 0. |
SigFact: |
This user-defined input adjusts the smoothing factor percentage for the signal line. A setting of 0, uses the bar length entered in the " SigLen" input. We optimized this input to a smoothing factor of 0.5. |
|
Entry Inputs: |
NumEntries |
Number of contracts/shares per entry |
Reverse |
Enables/Disables a reversal entry. A reversal entry reverses from a long to a short position when bearish divergence occurs and it reverses from a short to a long position when bullish divergence occurs |
MaxAccumProfit |
Specifies the maximum allowed accumulated dollar position profit in order to initiate a new trade. A setting of 0 disables this requirement. |
MaxAccumLoss |
Specifies the maximum allowed accumulated dollar position loss in order to initiate a new trade. A setting of 0 disables this requirement. This input has to be a positive number. |
UseDailyAccumProfLoss |
A setting of 1 uses the daily accumulated dollar position profit/loss for the inputs MaxAccumProfit and MaxAccumLoss, whereas a setting of 0 uses the accumulated dollar position profit/loss starting with the first bar on the chart for the inputs MaxAccumProfit and MaxAccumLoss. |
|
Exit Inputs: |
InStopDist |
Initial stop points |
NumLimitX |
Number of contracts /shares to exit at point target |
LimitX |
Number of points for limit exit |
TrlStopDist |
Trailing stop point distance |
MinTrlProf |
Move to trailing stop if market moves MinTrlProf points from entry |
MaxLossExit |
A setting of 1 exits all positions when a maximum accumulated dollar position loss as specified with the input MaxAccumLoss is reached. This input or the input MaxAccumLoss set to 0 disables this exit. |
MaxProfitExit |
A setting of 1 exits all positions when a maximum accumulated dollar position profit as specified with the input MaxAccumProfit is reached. This input or the input MaxAccumProfit set to 0 disables this exit. |
EndOfDayX |
End of Day exit time, a negative value disables the end of day exit |
UseExitOnClose |
A setting of 1 exits all positions at the closing bar, even on days when the market closes early. A setting of 0 disables the exit on close. |
|
Entry Filters Inputs: |
CandleSignal |
With a setting of 1, it requires an up close candle after bullish divergence before a long signal is generated and a down close candle after bearish divergence before a short signal is generated. A setting of 0 disables this requirement. |
MaxCandleLag |
This user-defined input sets the maximum number of bars for the up candle/down candle to occur after the divergence signal. A negative value disregards any maximum number of bars. This input is defaulted to -1. |
MinNumBars |
Specifies the minimum number of bars after a bearish divergence price pivot before the strategy generates a sell order and the minimum number of bars after a bullish divergence price pivot before the strategy generates a buy order |
MaxNumBars |
Specifies the maximum number of bars after a bearish divergence price pivot for the strategy to generate a sell order and the maximum number of bars after a bullish divergence price pivot for the strategy to generate a buy order. A setting of 0 disables this requirement. |
DayStart |
Specifies the first entry time. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
DayEnd |
Specifies the last entry time. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
LunchStart |
Specifies the beginning of the lunch break. LunchStart or LunchEnd set to 0, disables the lunch break. This input is automatically ignored for daily, weekly and monthly charts. |
LunchEnd |
Specifies the end of the lunch break. LunchStart or LunchEnd set to 0, disables the lunch break. This input is automatically ignored for daily, weekly and monthly charts. |
|
Divergence Inputs: |
DivPrDi |
This user-defined input adjusts the minimum required distance for a double top/bottom. A negative number allows for the divergence price high/low to be shy of the previous price high/low by number of points. A positive number requires for the divergence price high/low to have penetrated the previous price high/low by number of points. We optimized this input to a distance of 0 point. |
DivOsc1Di |
This user-defined input adjusts the minimum required distance for %DSlow to be higher than the previous %DSlow to qualify for bullish divergence and the minimum required distance for %DSlow to be lower than the previous %DSlow to qualify for bearish divergence. It is defaulted to 0. |
DivOsc2Di |
This user-defined input adjusts the minimum required distance for the Signal Line to be higher than the previous Signal Line to qualify for bullish divergence and the minimum required distance for the Signal Line to be lower than the previous Signal Line to qualify for bearish divergence. It is defaulted to 0. |
Osc1LagLen |
This user-defined input adjusts the maximum number of bars for the %DSlow hook to lag price. We optimized this input to a distance of 5 bars. |
MaxOsc2Offset |
This user-defined input adjusts the maximum number of bars for the Signal Line peaks/valleys to be offset by price. We optimized this input to a distance of 2 bars. |
MaxPivBack |
This user-defined input adjusts the maximum number of %DSlow hook pivots to look back for divergence. We optimized this input to a distance of 1 pivot. |
MinDivLen |
This user-defined input adjusts the minimum number of bars between the previous high/low and the divergent high/low. It is defaulted to 0 bars. |
MaxDivLen |
This user-defined input adjusts the maximum number of bars between the previous high/low and the divergent high/low. A setting of 0 disables a maximum number of bars requirement. It is defaulted to 0 bars. |
|
Advanced Inputs: |
NumOsc |
Allows you to change the number of divergence oscillators. A setting of 2 requires both, %DSlow and the Signal Line for divergence. A setting of 1 requires only the primary oscillator 1 for divergence, which could be either the %DSlow or the Signal Line, depending on the "PrimaryOsc" setting,. It is defaulted to 2. |
PrimaryOsc |
Allows you to set the primary oscillator 1 and the secondary oscillator 2. A setting of 1 uses %DSlow as primary oscillator 1 and the Signal Line as secondary oscillator 2. A setting of 2 uses the Signal Line as primary oscillator 1 and %DSlow as secondary oscillator 2. It is defaulted to 1. |
The rest of the inputs are advanced inputs and they are not designed to be changed.
The Alchemy %Ds Hook Strategy generates a long signal when the %D Slow hooks up and it generates a sell short signal when the %D Slow hooks down. The strategy contains the following additional entry filters:
1.) Overbought/Oversold Filter: Requires for the %Ds to be in oversold territory for short signals and in oversold territory for long signals.
2.) Candle Signal Filter: The strategy waits for an up candle followed by a %D Slow up hook before generating a long signal and it waits for a down candle followed by a %D Slow down hook before generating a short signal.
Each filter can be individually enabled and disabled. The strategy also contains an initial protective stop, profit target, trailing stop and end of day exit.
User Defined Inputs:
|
Entry Inputs: |
NumEntries |
Specifies the number of contracts/shares per entry |
Reverse |
Enables/Disables a reversal entry. A reversal entry reverses from a long to a short position when the %D Slow hooks down and it reverses from a short to a long position when the %D Slow hooks up. |
|
Exit Inputs: |
InStopDist |
Specifies the initial stop distance in number of points/dollars from the entry price. A setting of 0 disables the initial stop. |
NumLimitX |
Specifies the number of contracts /shares to exit at the profit target. |
LimitX |
Specifies the profit target distance in number of points/dollars from the entry price. A setting of 0 disables the profit target. |
TrlStopDist |
Specifies the trailing stop point/dollar distance that is trailed from the position high. A setting of 0 disables the traiing stop. |
MinTrlProf |
Specifies the minimum point/dollar profit from the entry price before the trailing stop is engaged. |
EndOfDayX |
Specifies the latest time of the day to hold any open positions. The strategy will exit all open positions at the time specified. The format of this input is in military charting time. For example, to exit at 4:00pm, type in 1600. A negative value disables the end of day exit. This input is ignored on daily, weekly and monthly charts. |
XOnClose |
A setting of 1 exits all positions at the closing bar, even on days when the market closes early. A setting of 0 disables the exit on close. |
|
Entry Filters Inputs: |
Overbought |
Specifies the overbought territory of the %D Slow at which to look for short trades. A negative value disables the overbought filter. |
OverSold |
Specifies the oversold territory of the %D Slow at which to look for long trades. A negative value disables the oversold filter. |
CandleSignal |
With a setting of 1, it requires an up close candle after after a %D Slow up hook before a long signal is generated and a down close candle after a %D Slow down hook before a short signal is generated. A setting of 0 disables this requirement. |
MaxCandleLag |
This user-defined input sets the maximum number of bars for the up candle/down candle to occur after the hook signal is generated. A negative value disregards any maximum number of bars. |
MinNumBars |
Specifies the minimum number of bars after a price pivot that is associated with a %D Slow down hook before the strategy generates a sell order and the minimum number of bars after a price pivot that is associated with a %D Slow up hook before the strategy generates a buy order |
MaxNumBars |
Specifies the maximum number of bars after a price pivot that is associated with a %D Slow down hook for the strategy to generate a sell order and the maximum number of bars after a price pivot that is associated with a %D Slow up hook for the strategy to generate a buy order. A setting of 0 disables this requirement. |
DayStart |
Specifies the first entry time. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
DayEnd |
Specifies the last entry time. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
LunchStart |
Specifies the beginning of the lunch break. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. LunchStart or LunchEnd set to 0, disables the lunch break. This input is automatically ignored for daily, weekly and monthly charts. |
LunchEnd |
Specifies the end of the lunch break. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. LunchStart or LunchEnd set to 0, disables the lunch break. This input is automatically ignored for daily, weekly and monthly charts. |
%D Slow Parameters:
PriceH |
Specifies the value to use as the high in the %D Slow calculations |
PriceL |
Specifies the value to use as the low in the %D Slow calculations |
PriceC |
Specifies the value to use as the close in the %D Slow calculations |
MinHook |
Specifies the minimum slope distance requirement for a hook of the %DSlow. |
_____ |
"UseAlchemy%Ds": With AlchemyKInt, AlchemyDInt and AlchemyDSlowInt, the strategy uses the %Ds of the Alchemy %Ds Hook |
AlchemyKInt |
Specifies the number of bars to consider for the average of K |
AlchemyDInt |
Specifies the number of bars to consider for the average of D |
AlchemyDSlowInt |
Specifies the number of bars to consider for the average of the slow D |
______ |
"UseStandard%Ds": With StandardStochLength, StandardSmoothingLength1, StandardSmoothingLength2, and StandardSmoothingType, the strategy uses the standard %Ds. Please note that AlchemyKInt, AlchemyDInt and AlchemyDSlowInt need to be set to 0 in order to use the standard %Ds. |
StandardStochLength |
Specifies the trailing number of bars to consider in the %D Slow calculations |
StandardSmoothingLength1 |
Specifies the number of bars to consider for the average of the fast K line |
StandardSmoothingLength2 |
Specifies the number of bars to consider for the average of the slow K line |
StandardSmoothingType |
‘1’ will generate calculations based on the original formula, ‘2’ will conform to legacy TradeStation calculations |
The Alchemy Overbought-Oversold Simple Strategy generates a long entry signal when an oscillator is in oversold territory and it generates a sell short signal when an oscillator is in overbought territory.
The strategy also contains the following exits:
Maximum daily loss, initial protective stop, profit target, CCI exit, trailing stop and end of day exit.
User Defined Inputs:
Oscillator Parameters:
OVBOVSOsc | Specifies the oscillator to be used for overbought/oversold detection. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow D, you would pick the SlowDCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowDCustomOrig(high,low,close,14,3,3). |
OverSold |
Specifies the oversold territory. |
OverBought | Specifies the overbought territory. |
|
Entry Inputs: |
NumberEntries |
Specifies the number of contracts/shares per entry |
LongEntryPrice |
Specifies the limit entry price for the strategy to go long at, after the oversold conditions are met, whereas with a value of 0, the strategy enters long at market as soon as the oversold conditions are met. |
ShortEntryPrice |
Specifies the limit entry price for the strategy to go short at, after the overbought conditions are met, whereas with a value of 0, the strategy enters short at market as soon as the overbought conditions are me |
Reverse |
A positive value enables a reversal entry and value of 0 disables a reversal entry. |
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Entry Filter Inputs: |
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Trading Times Entry Filter: |
StartTme |
Specifies the first entry time. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
EndTme |
Specifies the last entry time as well as the latest time at which all open positions are closed. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
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Max Daily Loss Entry Filter: |
MaximumDailyLoss |
Specifies the maximum accumulated daily dollar loss at which the strategy halts re-entering new trades for the remainder of the day, whereas a negative value disables this entry filter. |
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Signal Bars Entry Filter: |
AtCrossBar |
With a positive value, the strategy enters at the oversold/overbought cross bar and with a value of 0, the strategy enters anywhere in overbought-oversold territory. |
MinimumConsecutiveLongBars |
Specifies the minimum number of consecutive bars for the oversold conditions to be in place in order to qualify for a long entry, whereas a setting of 0 disables this entry filter. |
MinimumConsecutiveShortBars |
Specifies the minimum number of consecutive bars for the overbought conditions to be in place in order to qualify for a short entry, whereas a setting of 0 disables this entry filter. |
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Entry Delay Entry Filter: |
DelayBarsLong |
Specifies the minimum number of bars after the oversold condition has been met after which a limit entry order to go long will be placed, whereas a setting of 0 disables this entry filter. This entry filter is designed for limit entry orders only. |
DelayBarsShort |
Specifies the minimum number of bars after the overbought condition has been met after which a limit entry order to go short will be placed, whereas a setting of 0 disables this entry filter. This entry filter is designed for limit entry orders only. |
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Exit Inputs: |
MaximumDailyLossExit |
Specifies the maximum accumulated daily dollar loss at which the strategy exits all positions, whereas a value of 0 disables this exit. |
ExitAfterEntryBar |
A setting of 1 initiates all exit orders at the close of the entry bar. A setting of 0 initiates all exit orders at the same time as the entry signal, using the closing price of the signal bar as the hypothetical entry price. With this feature turned on, the entry price is re-calculated at the close of the entry bar, using the opening price of the entry bar. |
StopLoss |
Specifies the initial stop in number of ticks/pips/cents from the entry price. A setting of 0 disables the initial stop. |
NumberPointExit |
Specifies the number of contracts/shares to exit at the profit target. With a setting of 0, the strategy exits all open positions at the profit target. |
TargetDistance |
Specifies the profit target distance in number of ticks/pips/cents from the entry price. A setting of 0 disables the profit target. |
CCI_Exit | With this input set to a positive value, the strategy initiates a long exit when the CCI reaches an overbought value as specified with the input CCI_LongExitValue and it initiates a short exit when the CCI reaches an oversold value as specified with the input CCI_ShortExitValue |
NumberCCI_Exit | Specifies the number of contracts/shares to exit with the CCI exit. With a setting of 0, the strategy exits all open positions with the CCI exit. |
CCI_LongExitValue | The strategy initiates a long exit when the CCI reaches an overbought value as specified with this input |
CCI_ShortExitValue | The strategy initiates a short exit when the CCI reaches an oversold value as specified with this input |
CCILength | Specifies the CCI length |
CCIAvgLength | With a setting of 0, the CCI is being used and with a positive setting the CCI average as specified by this input is being used. |
MinTrailProfit |
Specifies the minimum profit in number of ticks/pips/cents from the entry price price before the trailing stop is engaged. |
TrailStop |
Specifies the trailing stop distance in number of ticks/pips/cents that is being trailed from the position high. A setting of 0 disables the trailing stop. |
ExitOnClose |
A setting of 1 exits all positions at the closing bar, even on days when the market closes early. A setting of 0 disables the exit on close. |
The Alchemy Overbought-Oversold Strategy generates a long entry signal when the Alchemy Overbought Oversold indicator displays an oversold show me dot and and it generates a sell short signal when the Alchemy Overbought Oversold indicator displays an overbought show me dot. The Alchemy Overbought/Oversold indicator spots overbought and oversold conditions on up to 2 oscillators on a single data series. It displays show me dots and a text description above price highs for overbought conditions and it displays show me dots and a text description below price lows for oversold conditions. The oscillators can be specified through indicator inputs. These indicators have the option of requiring both oscillators to be overbought/oversold before generating an alert or they can be set to alert for anyone oscillator to be overbought/oversold. The indicator contains a separate crossover oscillator for each one of the two oversold/overbought oscillators that can be used to require such crosses in order to trigger an overbought/oversold alert. For example, if a slow D is selected for the overbought/oversold oscillator and a slow K is selected for the Cross oscillator, then an oversold condition is displayed when the slow D is in oversold territory and the slow K crosses over the slow D.
The strategy also contains the following exits:
Initial protective stop, profit target, CCI exit, trailing stop and end of day exit.
User Defined Inputs:
Oscillator Parameters:
OVBOVSOsc1 | Specifies the first oscillator to be used for overbought/oversold detection. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow D, you would pick the SlowDCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowDCustomOrig(high,low,close,14,3,3). |
OVBOVSOsc2 | Specifies the second oscillator to be used for overbought/oversold detection. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow D, you would pick the SlowDCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowDCustomOrig(high,low,close,14,3,3). |
CrossOsc1 | Specifies the oscillator to be used for a crossing requirement of this oscillator with the first oscillator. For example, if a slow D is selected for OVBOVSOsc1 and a slow K is selected for CrossOsc1, then an oversold condition is displayed when the slow D is in oversold territory and the slow K crosses over the slow D. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow K, you would pick the SlowKCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowKCustomOrig(high,low,close,14,3,3). |
CrossOsc2 | Specifies the oscillator to be used for a crossing requirement of this oscillator with the second oscillator. For example, if a slow D is selected for OVBOVSOsc2 and a slow K is selected for CrossOsc2, then an oversold condition is displayed when the slow D is in oversold territory and the slow K crosses over the slow D. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow K, you would pick the SlowKCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowKCustomOrig(high,low,close,14,3,3). |
Osc1OverSold |
Specifies the oversold territory for the first oscillator. |
Osc1OverBought | Specifies the overbought territory for the first oscillator. |
Osc2OverSold | Specifies the oversold territory for the second oscillator. |
Osc2OverBought | Specifies the overbought territory for the second oscillator. |
ShowOsc | Specifies as to which and what combination of oscillators are to be used for overbought/oversold detection as follows: With a setting of 2, the strategy will generate signals when both oscillators are simultaneously overbought or oversold. With a setting of 1, the strategy will generate signals when both oscillators are simultaneously overbought or oversold as well as when anyone of the 2 oscillators are overbought or oversold. With a setting of -1, the strategy will generate signals when the first oscillator is overbought or oversold. With a setting of -2, the strategy will generate signals when the second oscillator is overbought or oversold. |
ShowOsc1Cross | Enables/disables the requirement for a faster oscillator as specified in CrossOsc1 to cross the slower oscillator 1 as specified in OVBOVSOsc1 for overbought/oversold detection. |
ShowOsc2Cross | Enables/disables the requirement for a faster oscillator as specified in CrossOsc2 to cross the slower oscillator 2 as specified in OVBOVSOsc2 for overbought/oversold detection. |
PrimaryCrossOsc |
Specifies the primary crossing oscillator, whereas a setting of 0 does not require for any specific oscillator to cross. This input narrows down the overbought/oversold signal to the crossing of a specified oscillator. For example, with a setting of ShowOsc set to 2, ShowOsc1Cross set to true, ShowOsc2Cross set to true and PrimaryCrossOsc set to 1, an oversold signal is only generated under the following conditions: OVBOVSOsc1 is in oversold territory, CrossOsc1 crosses over OVBOVSOsc1, OVBOVSOsc2 is in oversold territory, CrossOsc2 is above OVBOVSOsc2 |
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Entry Inputs: |
NumberEntries |
Specifies the number of contracts/shares per entry |
LongEntryPrice |
Specifies the limit entry price for the strategy to go long at, after the oversold conditions are met, whereas with a value of 0, the strategy enters long at market as soon as the oversold conditions are met. |
ShortEntryPrice |
Specifies the limit entry price for the strategy to go short at, after the overbought conditions are met, whereas with a value of 0, the strategy enters short at market as soon as the overbought conditions are me |
Reverse |
A positive value enables a reversal entry and value of 0 disables a reversal entry. |
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Entry Filter Inputs: |
|
Trading Times Entry Filter: |
StartTme |
Specifies the first entry time. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
EndTme |
Specifies the last entry time as well as the latest time at which all open positions are closed. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
|
Max Daily Loss Entry Filter: |
MaximumDailyLoss |
Specifies the maximum accumulated daily dollar loss at which the strategy halts re-entering new trades for the remainder of the day, whereas a negative value disables this entry filter. |
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Min Consecutive Signal Bars Entry Filter: |
MinimumConsecutiveLongBars |
Specifies the minimum number of consecutive bars for the oversold conditions to be in place in order to qualify for a long entry, whereas a setting of 0 disables this entry filter. |
MinimumConsecutiveShortBars |
Specifies the minimum number of consecutive bars for the overbought conditions to be in place in order to qualify for a short entry, whereas a setting of 0 disables this entry filter. |
|
Entry Delay Entry Filter: |
DelayBarsLong |
Specifies the minimum number of bars after the oversold condition has been met after which a limit entry order to go long will be placed, whereas a setting of 0 disables this entry filter. This entry filter is designed for limit entry orders only. |
DelayBarsShort |
Specifies the minimum number of bars after the overbought condition has been met after which a limit entry order to go short will be placed, whereas a setting of 0 disables this entry filter. This entry filter is designed for limit entry orders only. |
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Exit Inputs: |
MaximumDailyLossExit |
Specifies the maximum accumulated daily dollar loss at which the strategy exits all positions, whereas a value of 0 disables this exit. |
ExitAfterEntryBar |
A setting of 1 initiates all exit orders at the close of the entry bar. A setting of 0 initiates all exit orders at the same time as the entry signal, using the closing price of the signal bar as the hypothetical entry price. With this feature turned on, the entry price is re-calculated at the close of the entry bar, using the opening price of the entry bar. |
StopLoss |
Specifies the initial stop in number of ticks/pips/cents from the entry price. A setting of 0 disables the initial stop. |
NumberPointExit |
Specifies the number of contracts/shares to exit at the profit target. With a setting of 0, the strategy exits all open positions at the profit target. |
TargetDistance |
Specifies the profit target distance in number of ticks/pips/cents from the entry price. A setting of 0 disables the profit target. |
CCI_Exit | With this input set to a positive value, the strategy initiates a long exit when the CCI reaches an overbought value as specified with the input CCI_LongExitValue and it initiates a short exit when the CCI reaches an oversold value as specified with the input CCI_ShortExitValue |
NumberCCI_Exit | Specifies the number of contracts/shares to exit with the CCI exit. With a setting of 0, the strategy exits all open positions with the CCI exit. |
CCI_LongExitValue | The strategy initiates a long exit when the CCI reaches an overbought value as specified with this input |
CCI_ShortExitValue | The strategy initiates a short exit when the CCI reaches an oversold value as specified with this input |
CCILength | Specifies the CCI length |
CCIAvgLength | With a setting of 0, the CCI is being used and with a positive setting the CCI average as specified by this input is being used. |
MinTrailProfit |
Specifies the minimum profit in number of ticks/pips/cents from the entry price price before the trailing stop is engaged. |
TrailStop |
Specifies the trailing stop distance in number of ticks/pips/cents that is being trailed from the position high. A setting of 0 disables the trailing stop. |
ExitOnClose |
A setting of 1 exits all positions at the closing bar, even on days when the market closes early. A setting of 0 disables the exit on close. |
The Alchemy Overbought-Oversold Exit Strategy generates a short exit signal when the Alchemy Overbought Oversold indicator displays an oversold show me dot and and it generates a long exit signal when the Alchemy Overbought Oversold indicator displays an overbought show me dot. The Alchemy Overbought/Oversold indicator spots overbought and oversold conditions on up to 2 oscillators on a single data series. It displays show me dots and a text description above price highs for overbought conditions and it displays show me dots and a text description below price lows for oversold conditions. The oscillators can be specified through indicator inputs. These indicators have the option of requiring both oscillators to be overbought/oversold before generating an alert or they can be set to alert for anyone oscillator to be overbought/oversold. The indicator contains a separate crossover oscillator for each one of the two oversold/overbought oscillators that can be used to require such crosses in order to trigger an overbought/oversold alert. For example, if a slow D is selected for the overbought/oversold oscillator and a slow K is selected for the Cross oscillator, then an oversold condition is displayed when the slow D is in oversold territory and the slow K crosses over the slow D.
The strategy also contains a breakeven stop that initiates a breakeven short stop when the oscillator as specified with the input BreakEvenOscillator displays an oversold show me dot and the strategy initiates a breakeven long stop when the oscillator as specified with the input BreakEvenOscillator displays an overbought show me dot
User Defined Inputs:
Oscillator Parameters:
OVBOVSOsc1 | Specifies the first oscillator to be used for overbought/oversold detection. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow D, you would pick the SlowDCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowDCustomOrig(high,low,close,14,3,3). |
OVBOVSOsc2 | Specifies the second oscillator to be used for overbought/oversold detection. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow D, you would pick the SlowDCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowDCustomOrig(high,low,close,14,3,3). |
CrossOsc1 | Specifies the oscillator to be used for a crossing requirement of this oscillator with the first oscillator. For example, if a slow D is selected for OVBOVSOsc1 and a slow K is selected for CrossOsc1, then an oversold condition is displayed when the slow D is in oversold territory and the slow K crosses over the slow D. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow K, you would pick the SlowKCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowKCustomOrig(high,low,close,14,3,3). |
CrossOsc2 | Specifies the oscillator to be used for a crossing requirement of this oscillator with the second oscillator. For example, if a slow D is selected for OVBOVSOsc2 and a slow K is selected for CrossOsc2, then an oversold condition is displayed when the slow D is in oversold territory and the slow K crosses over the slow D. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow K, you would pick the SlowKCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowKCustomOrig(high,low,close,14,3,3). |
Osc1OverSold |
Specifies the oversold territory for the first oscillator. |
Osc1OverBought | Specifies the overbought territory for the first oscillator. |
Osc2OverSold | Specifies the oversold territory for the second oscillator. |
Osc2OverBought | Specifies the overbought territory for the second oscillator. |
ShowOsc | Specifies as to which and what combination of oscillators are to be used for overbought/oversold detection as follows: With a setting of 2, the strategy will generate signals when both oscillators are simultaneously overbought or oversold. With a setting of 1, the strategy will generate signals when both oscillators are simultaneously overbought or oversold as well as when anyone of the 2 oscillators are overbought or oversold. With a setting of -1, the strategy will generate signals when the first oscillator is overbought or oversold. With a setting of -2, the strategy will generate signals when the second oscillator is overbought or oversold. |
ShowOsc1Cross | Enables/disables the requirement for a faster oscillator as specified in CrossOsc1 to cross the slower oscillator 1 as specified in OVBOVSOsc1 for overbought/oversold detection. |
ShowOsc2Cross | Enables/disables the requirement for a faster oscillator as specified in CrossOsc2 to cross the slower oscillator 2 as specified in OVBOVSOsc2 for overbought/oversold detection. |
PrimaryCrossOsc |
Specifies the primary crossing oscillator, whereas a setting of 0 does not require for any specific oscillator to cross. This input narrows down the overbought/oversold signal to the crossing of a specified oscillator. For example, with a setting of ShowOsc set to 2, ShowOsc1Cross set to true, ShowOsc2Cross set to true and PrimaryCrossOsc set to 1, an oversold signal is only generated under the following conditions: OVBOVSOsc1 is in oversold territory, CrossOsc1 crosses over OVBOVSOsc1, OVBOVSOsc2 is in oversold territory, CrossOsc2 is above OVBOVSOsc2 |
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Exit Inputs: |
BreakEvenOscillator |
Specifies the oscillator number to be used for the break even stop, whereas a setting of 0 disables the break even stop. |
BreakEvenPercentExit |
Specifies the percent contracts/shares to exit at the break even stop, whereas a setting of 0 disables the break even stop and a setting of 100 exits all open positions at the break even stop. |
BreakEvenAdd |
Specifies the dollar/point value to add to/subtract from the entry price in favor of the currently held position for placing the break even stop. |
PercentOVBOVSExit |
Specifies the percent contracts/shares to exit at an overbought/oversold signal, whereas a setting of 0 disables the overbought/oversold exit and a setting of 100 exits all open positions at the overbought/oversold signal. |
The Alchemy Overbought-Oversold Dual Data Strategy generates a long entry signal when the Alchemy Overbought Oversold Dual Data indicator displays an oversold show me dot and and it generates a sell short signal when the Alchemy Overbought Oversold Dual Data indicator displays an overbought show me dot. As default, the strategy uses 2 slow D oscillators and 2 slow K oscillators with the same parameters but calculated on 2 different data series. It is designed to detect simultaneous overbought/oversold conditions on either 2 different time frames or 2 different markets. This strategy requires 2 data streams, data 1 and data 2 before it can be inserted. Once the initial chart is created, a second data stream needs to be inserted via Insert > Symbol. This second data stream can either be the same symbol on a higher time frame or a different symbol on the same or higher time frame. We do provide a workspace for TradeStation that contains a chart with this strategy applied on a 1 and 3 minute chart of the S&P E-Minis that can be used as a template. You can download this workspace by clicking on this link: TA OverboughtOversold Strategies.tsw
The strategy also contains the following exits:
Initial protective stop, profit target, CCI exit, trailing stop and end of day exit.
User Defined Inputs:
Oscillator Parameters:
OVBOVSOsc1 | Specifies the first oscillator to be used for overbought/oversold detection. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow D, you would pick the SlowDCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowDCustomOrig(high,low,close,14,3,3). |
OVBOVSOsc2 | Specifies the second oscillator to be used for overbought/oversold detection. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow D, you would pick the SlowDCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowDCustomOrig(high,low,close,14,3,3). |
CrossOsc1 | Specifies the oscillator to be used for a crossing requirement of this oscillator with the first oscillator. For example, if a slow D is selected for OVBOVSOsc1 and a slow K is selected for CrossOsc1, then an oversold condition is displayed when the slow D is in oversold territory and the slow K crosses over the slow D. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow K, you would pick the SlowKCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowKCustomOrig(high,low,close,14,3,3). |
CrossOsc2 | Specifies the oscillator to be used for a crossing requirement of this oscillator with the second oscillator. For example, if a slow D is selected for OVBOVSOsc2 and a slow K is selected for CrossOsc2, then an oversold condition is displayed when the slow D is in oversold territory and the slow K crosses over the slow D. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow K, you would pick the SlowKCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowKCustomOrig(high,low,close,14,3,3). |
Osc1OverSold |
Specifies the oversold territory for the first oscillator. |
Osc1OverBought | Specifies the overbought territory for the first oscillator. |
Osc2OverSold | Specifies the oversold territory for the second oscillator. |
Osc2OverBought | Specifies the overbought territory for the second oscillator. |
ShowOsc | Specifies as to which and what combination of oscillators are to be used for overbought/oversold detection as follows: With a setting of 2, the strategy will generate signals when both oscillators are simultaneously overbought or oversold. With a setting of 1, the strategy will generate signals when both oscillators are simultaneously overbought or oversold as well as when anyone of the 2 oscillators are overbought or oversold. With a setting of -1, the strategy will generate signals when the first oscillator is overbought or oversold. With a setting of -2, the strategy will generate signals when the second oscillator is overbought or oversold. |
ShowOsc1Cross | Enables/disables the requirement for a faster oscillator as specified in CrossOsc1 to cross the slower oscillator 1 as specified in OVBOVSOsc1 for overbought/oversold detection. |
ShowOsc2Cross | Enables/disables the requirement for a faster oscillator as specified in CrossOsc2 to cross the slower oscillator 2 as specified in OVBOVSOsc2 for overbought/oversold detection. |
PrimaryCrossOsc |
Specifies the primary crossing oscillator, whereas a setting of 0 does not require for any specific oscillator to cross. This input narrows down the overbought/oversold signal to the crossing of a specified oscillator. For example, with a setting of ShowOsc set to 2, ShowOsc1Cross set to true, ShowOsc2Cross set to true and PrimaryCrossOsc set to 1, an oversold signal is only generated under the following conditions: OVBOVSOsc1 is in oversold territory, CrossOsc1 crosses over OVBOVSOsc1, OVBOVSOsc2 is in oversold territory, CrossOsc2 is above OVBOVSOsc2 |
|
Entry Inputs: |
NumberEntries |
Specifies the number of contracts/shares per entry |
Reverse |
A positive value enables a reversal entry and value of 0 disables a reversal entry. |
|
Entry Filters Inputs: |
StartTme |
Specifies the first entry time. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
EndTme |
Specifies the last entry time as well as the latest time at which all open positions are closed. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
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Exit Inputs: |
ExitAfterEntryBar |
A setting of 1 initiates all exit orders at the close of the entry bar. A setting of 0 initiates all exit orders at the same time as the entry signal, using the closing price of the signal bar as the hypothetical entry price. With this feature turned on, the entry price is re-calculated at the close of the entry bar, using the opening price of the entry bar. |
StopLoss |
Specifies the initial stop in number of ticks/pips/cents from the entry price. A setting of 0 disables the initial stop. |
NumberPointExit |
Specifies the number of contracts/shares to exit at the profit target. With a setting of 0, the strategy exits all open positions at the profit target. |
TargetDistance |
Specifies the profit target distance in number of ticks/pips/cents from the entry price. A setting of 0 disables the profit target. |
CCI_Exit | With this input set to a positive value, the strategy initiates a long exit when the CCI reaches an overbought value as specified with the input CCI_LongExitValue and it initiates a short exit when the CCI reaches an oversold value as specified with the input CCI_ShortExitValue |
NumberCCI_Exit | Specifies the number of contracts/shares to exit with the CCI exit. With a setting of 0, the strategy exits all open positions with the CCI exit. |
CCI_LongExitValue | The strategy initiates a long exit when the CCI reaches an overbought value as specified with this input |
CCI_ShortExitValue | The strategy initiates a short exit when the CCI reaches an oversold value as specified with this input |
CCILength | Specifies the CCI length |
CCIAvgLength | With a setting of 0, the CCI is being used and with a positive setting the CCI average as specified by this input is being used. |
MinTrailProfit |
Specifies the minimum profit in number of ticks/pips/cents from the entry price price before the trailing stop is engaged. |
TrailStop |
Specifies the trailing stop distance in number of ticks/pips/cents that is being trailed from the position high. A setting of 0 disables the trailing stop. |
ExitOnClose |
A setting of 1 exits all positions at the closing bar, even on days when the market closes early. A setting of 0 disables the exit on close. |
The Alchemy CCI Divergence Entry/Exit strategies consist of the AlchemyCCIDivBuy long entry strategy, the AlchemyCCIDivLongX long exit strategy, the AlchemyCCIDivSell short entry strategy and the AlchemyCCIDivShrtX short exit strategy. The strategy AlchemyCCIDivergence combines all 4 strategies into one system.
User Defined Inputs for the long and short entry signals:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
SessionStartTme |
Specifies the session start time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the beginning of a new session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
SessionEndTme |
Specifies the session end time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the end of the last session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
XDayOfWeek |
Specifies the day of the week to exclude for resetting the accumulated daily profit/loss, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
User Defined Inputs for the long and short exit signals:
NumExits |
Specifies the number of contracts/shares to exit, whereas a setting of 0 exits all open positions and a negative setting disables the exits. |
User Defined Inputs all signals:
|
CCI Parameters: |
CCILength |
This user-defined input determines the number of bars over which the CCI IS calculated. |
CCIAvgLength |
Specifies the CCI Average Length. A setting of 0 uses the CCI for divergence detection and a positive setting uses the CCI average for divergence detection. |
OVBOVS |
The Alchemy CCIDiverge signals look for bearish divergence when the CCI is in overbought territory as determined by the OverB input and they look for bullish divergence when the CCI is in oversold territory as determined by the OverS input. This input enables or disables these overbought/oversold zones restrictions. |
OverS |
The Alchemy CCIDiverge signals look for bullish divergence when the CCI is in oversold territory as determined by this input. |
OverB |
The Alchemy CCIDiverge signals look for bearish divergence when the CCI is in overbought territory as determined by this input. |
Cycles |
When the Alchemy CCIDiverge signals find bearish divergence in overbought territory, the signals require for the CCI to cycle back down into oversold territory as determined by the OverSCyc input, in order to qualify for the next bearish divergence in overbought territory. When the Alchemy CCIDiverge signals find bullish divergence in oversold territory, the signals require for the CCI to cycle back up into overbought territory as determined by the OverBCyc input, in order to qualify for the next bullish divergence in oversold territory. This input enables or disables these overbought/oversold cycle restrictions. |
OverSCyc |
When the Alchemy CCIDiverge signals find bearish divergence in overbought territory, the indicator requires for the CCI to cycle back down to oversold territory as determined by this input, in order to qualify for the next bearish divergence in overbought territory. |
OverBCyc |
When the Alchemy CCIDiverge signals find bullish divergence in oversold territory, the indicator requires for the CCI to cycle back up into overbought territory as determined by this input, in order to qualify for the next bullish divergence in oversold territory. |
MinPos |
The Alchemy CCIDiverge signals look for bearish divergence when the CCI reaches a minimum positive value as determined by this input. A negative setting disables this input. |
MinNeg |
The Alchemy CCIDiverge signals look for bullish divergence when the CCI reaches a minimum negative value as determined by this input. A negative setting disables this input. |
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Divergence Parameters: |
DivFact |
This user-defined input adjusts the divergence sensitivity. A smaller number increases the signals divergence sensitivity, therefore, displaying divergence for smaller pivots. A larger number decreases the indicators divergence sensitivity, therefore, displaying divergence for stronger pivots. |
ReverseDiv |
Enables reverse divergence calculation (lower price high/higher indicator high - higher price low/lower indicator low ). |
MaxSwg |
Specifies the maximum number of swings stored. |
Strength |
Specifies the pivot strength of each swing |
MaxLength |
Specifies the maximum number of swings back over which the signals look for divergence. |
BearPrice |
This user-defined input determines if bearish divergence is calculated off the open, the high, the low or the close. |
BullPrice |
This user-defined input determines if bullish divergence is calculated off the open, the high, the low or the close. |
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Moving Averages Filter: Allows long entries or short exits only when fast moving average is above slow moving average and allows short entries or long exits only when fast moving average is below slow moving average. |
FastAvgPrice |
Specifies the price to be used for the fast moving average. |
SlowAvgPrice |
Specifies the price to be used for the slow moving average. |
FastAvgLength |
Specifies the fast moving average length, whereas a setting of 0 disables this filter. |
SlowAvgLength |
Specifies the slow moving average length, whereas a setting of 0 disables this filter. |
FastAvgType |
Specifies the fast moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average and a setting of 7 uses price as specified with the input FastAvgPrice. A setting of 0 disables this filter. |
SlowAvgType |
Specifies the slow moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average and a setting of 7 uses price as specified with the input SlowAvgPrice. A setting of 0 disables this filter. |
The Alchemy CCI Hook Divergence Entry/Exit Strategies consist of the AlchemyCCIHookDivLE long entry strategy, the AlchemyCCIHookDivLX long exit strategy, the AlchemyCCIHookDivSE short entry strategy and the AlchemyCCIHookDivSX short exit strategy. The strategy AlchemyCCIHookDiv combines all 4 strategies into one system.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
User Defined Inputs for the long and short exit strategies:
NumExits |
Specifies the number of contracts/shares to exit, whereas a setting of 0 exits all open positions and a negative setting disables the exits. |
User Defined Inputs all strategies:
Indicator Inputs:
CCILength |
This user-defined input determines the number of bars over which the CCI is calculated. |
CCIAvgLength |
Specifies the CCI Average Length. A setting of 0 uses the CCI for divergence detection and a positive setting uses the CCI average for divergence detection. |
Use_Close |
With Use_Close set to true, pivot highs and pivot lows are based on the closing price, whereas with Use_Close set to false, pivot highs are based on the high of the bar and pivot lows are based on the low of the bar. |
MinHook |
This user-defined input adjusts the minimum slope distance requirement for a hook of the specified indicator. |
OverBought |
Enables/disables the overbought requirement in which to look for bearish divergence. |
OverBoughtZone |
Specifies a minimum required specified indicator overbought value in which to look for bearish divergence. |
OverSold |
Enables/disables the oversold requirement in which to look for bullish divergence. |
OverSoldZone |
Specifies a minimum required specified indicator oversold value in which to look for bullish divergence. |
Divergence Inputs:
DivPrDi |
This user-defined input adjusts the minimum required distance for a double top/bottom. A negative number allows for the divergence price high/low to be shy of the previous price high/low by number of points. A positive number requires for the divergence price high/low to have penetrated the previous price high/low by number of points. |
DivOscDi |
This user-defined input adjusts the minimum required distance for the specified indicator to be higher than the previous specified indicator to qualify for bullish divergence and the minimum required distance for the specified indicator to be lower than the previous specified indicator to qualify for bearish divergence. |
OscLagLen |
This user-defined input adjusts the maximum number of bars for the specified indicator hook to lag price. |
MaxPivBack |
This user-defined input adjusts the maximum number of the specified indicator hook pivots to look back for divergence. |
MinDivLen |
This user-defined input adjusts the minimum number of bars between the previous high/low and the divergent high/low |
MaxDivLen |
This user-defined input adjusts the maximum number of bars between the previous high/low and the divergent high/low. A setting of 0 disables a maximum number of bars requirement. |
NewDailyDivg |
With a setting of 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. A setting of 0 disables this requirement. This input is ignored on daily, weekly and monthly charts. |
SessStartT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session start time. This input is ignored on daily, weekly and monthly charts. |
SessEndT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session end time. This input is ignored on daily, weekly and monthly charts. |
SessXDayOfWeek |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. This input Specifies a certain day of the week to be excluded from a session to be used. 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
The rest of the inputs are advanced inputs and they are not designed to be changed.
The Alchemy RSI Divergence Entry/Exit strategies consist of the AlchemyRSIDivBuy long entry strategy, the AlchemyRSIDivLongX long exit strategy, the AlchemyRSIDivSell short entry strategyand the AlchemyRSIDivShrtX short exit strategy.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
SessionStartTme |
Specifies the session start time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the beginning of a new session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
SessionEndTme |
Specifies the session end time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the end of the last session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
XDayOfWeek |
Specifies the day of the week to exclude for resetting the accumulated daily profit/loss, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
User Defined Input for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Input for the long entry and short exit strategies:
OverSold |
Specifies the oversold territory in which bullish divergence has to occur, whereas a negative setting disables this requirement. |
User Defined Input for the short entry and long exit strategies:
OverBought |
Specifies the overbought territory in which bearish divergence has to occur, whereas a negative setting disables this requirement. |
User Defined Inputs all signals:
Price |
This user-defined input determines if the RSI is calculated off the open, the high, the low or the close. It is defaulted to the Close. |
Length |
This user-defined input determines the number of bars over which the RSI is calculated. We optimized this input to a setting of 21 bars. |
DivFact |
This user-defined input adjusts the divergence sensitivity. A smaller number increases the signals divergence sensitivity, therefore, displaying divergence for smaller pivots. A larger number decreases the signals divergence sensitivity, therefore, displaying divergence for stronger pivots. We optimized this input to a factor of 3. |
ReverseDiv |
Enables reverse divergence calculation (lower price high/higher indicator high - higher price low/lower indicator low ). |
MaxSwg |
Maximum Swing is the number of swings the signal will look back to find divergence. It is set to 5. Increase this setting in order to look further back for divergence. As soon as the signal finds divergence, it will stop looking any further back, independent of the Maximum Swing setting. The higher this setting, the longer the calculation time. Please keep this in mind when increasing this input. |
Occur |
Occur is set to 1 and starts looking for divergence at the first swing high/low back. When the signal finds divergence it will stop looking. If you want to look further back, you can set “OCCUR “ to the swing high/low number past the one where it found divergence. Then the signal will start looking for divergence, starting with the next swing back from there. |
Stren |
Strength: The divergence signal compares the current price with previous swing highs or lows. The “Strength” setting is the number of required bars with lower highs on either side for qualifying swing highs and the number of required bars with higher lows on either side for qualifying swing lows. It is set to 2 bars. If you want to look for stronger pivots, you can increase this number. |
Len |
Length is the maximum number of bars the signal will look back for divergence and it is set to 49. If the signal can’t find divergence and you want to look further back, you can increase this setting together with “Maximum Swings”. |
The Alchemy RSI Hook Divergence Entry/Exit Strategies consist of the AlchemyRSIHookDivLE long entry strategy, the AlchemyRSIHookDivLX long exit strategy, the AlchemyRSIHookDivSE short entry strategy and the AlchemyRSIHookDivSX short exit strategy.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all strategies:
Indicator Inputs:
Price |
Specifies the price for the RSI. |
Length |
Specifies the RSI length. |
Use_Close |
With Use_Close set to true, pivot highs and pivot lows are based on the closing price, whereas with Use_Close set to false, pivot highs are based on the high of the bar and pivot lows are based on the low of the bar. |
MinHook |
This user-defined input adjusts the minimum slope distance requirement for a hook of the RSI. |
OverBought |
Enables/disables the overbought requirement in which to look for bearish divergence. |
OverBoughtZone |
Specifies a minimum required specified indicator overbought value in which to look for bearish divergence. |
OverSold |
Enables/disables the oversold requirement in which to look for bullish divergence. |
OverSoldZone |
Specifies a minimum required specified indicator oversold value in which to look for bullish divergence. |
Divergence Inputs:
DivPrDi |
This user-defined input adjusts the minimum required distance for a double top/bottom. A negative number allows for the divergence price high/low to be shy of the previous price high/low by number of points. A positive number requires for the divergence price high/low to have penetrated the previous price high/low by number of points. |
DivOscDi |
This user-defined input adjusts the minimum required distance for the specified indicator to be higher than the previous specified indicator to qualify for bullish divergence and the minimum required distance for the specified indicator to be lower than the previous specified indicator to qualify for bearish divergence. |
OscLagLen |
This user-defined input adjusts the maximum number of bars for the RSI hook to lag price. |
MaxPivBack |
This user-defined input adjusts the maximum number of the RSI hook pivots to look back for divergence. |
MinDivLen |
This user-defined input adjusts the minimum number of bars between the previous high/low and the divergent high/low |
MaxDivLen |
This user-defined input adjusts the maximum number of bars between the previous high/low and the divergent high/low. A setting of 0 disables a maximum number of bars requirement. |
NewDailyDivg |
With a setting of 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. A setting of 0 disables this requirement. This input is ignored on daily, weekly and monthly charts. |
SessStartT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session start time. This input is ignored on daily, weekly and monthly charts. |
SessEndT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session end time. This input is ignored on daily, weekly and monthly charts. |
SessXDayOfWeek |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. This input Specifies a certain day of the week to be excluded from a session to be used. 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
The rest of the inputs are advanced inputs and they are not designed to be changed.
The Alchemy Stochastics Divergence Entry/Exit strategies consist of the AlchemyStochDivBuy long entry strategy, the AlchemyStochDivLongX long exit strategy, the AlchemyStochDivSell short entry strategyand the AlchemyStochDivShrtX short exit strategy.
User Defined Inputs for the long and short entry signals:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
SessionStartTme |
Specifies the session start time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the beginning of a new session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
SessionEndTme |
Specifies the session end time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the end of the last session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
XDayOfWeek |
Specifies the day of the week to exclude for resetting the accumulated daily profit/loss, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
User Defined Inputs for the long and short exit signals:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all signals:
Length |
This user-defined input determines the number of bars over which the Stochastics are calculated. We optimized this input to a setting of 21 bars. |
KAdjust |
This user-defined input adjusts the calculation for the K line. We optimized this input to a setting of 3. |
DAdjust |
This user-defined input adjusts the calculation for the D line. We optimized this input to a setting of 3. |
AlternateStochastic |
This input allows the user to chose any Stochastic function available in TradeStation. At its default setting of -1, it uses a proprietary Trading Alchemy Stochastic function, especially designed for divergence. If you would like to use a regular TradeStation Stochastic function in its place, click on "Dictionary…" and select any available FastK, SlowK, FastD or SlowD user function. Then type the desired values into the Parameters. |
OverSold |
This user-defined input determines the oversold zone in which bullish divergence occurs. It is defaulted to a standard setting of 20. |
OverBght |
This user-defined input determines the overbought zone in which bearish divergence occurs. It is defaulted to a standard setting of 80. |
OBCY |
Specifies the minimum overbought value for the oscillator to reach to qualify for one full cycle from oversold to overbought territory. A full cycle must be completed before a next divergence. A negative setting disables the overbought to oversold cycle requirement. |
OSCY |
Specifies the minimum oversold value for the oscillator to reach to qualify for one full cycle from oversold to overbought territory. A full cycle must be completed before a next divergence. A negative setting disables the overbought to oversold cycle requirement. |
DivFact |
This user-defined input adjusts the divergence sensitivity. A smaller number increases the signals divergence sensitivity, therefore, displaying more frequent divergence. A larger number decreases the signals divergence sensitivity, therefore, displaying stronger divergence. We optimized this input to a factor of 0. |
ReverseDiv |
Enables reverse divergence calculation (lower price high/higher indicator high - higher price low/lower indicator low ). |
MaxSwg |
Maximum Swing is the number of swings the signal will look back to find divergence. It is set to 20. Increase this setting in order to look further back for divergence. As soon as the signal finds divergence, it will stop looking any further back, independent of the Maximum Swing setting. The higher this setting, the longer the calculation time. Please keep this in mind when increasing this input. |
Occur |
Occur is set to 1 and starts looking for divergence at the first swing high/low back. When the signal finds divergence it will stop looking. If you want to look further back, you can set “OCCUR “ to the swing high/low number past the one where it found divergence. Then the signal will start looking for divergence, starting with the next swing back from there. |
Stren |
Strength: The divergence signal compares the current price with previous swing highs or lows. The “Strength” setting is the number of required bars with lower highs on either side for qualifying swing highs and the number of required bars with higher lows on either side for qualifying swing lows. It is set to 2 bars. If you want to look for stronger pivots, you can increase this number. |
Len |
Length is the maximum number of bars the signal will look back for divergence and it is set to 49. If the signal can’t find divergence and you want to look further back, you can increase this setting together with “Maximum Swings”. |
The Alchemy Stochastics Hook Divergence Entry/Exit Strategies consist of the AlchemyStochHkDivLE long entry strategy, the AlchemyStochHkDivLX long exit strategy, the AlchemyStochHkDivSE short entry strategy and the AlchemyStochHkDivSX short exit strategy.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all strategies:
Indicator Inputs:
Length |
Specifies the Stochastics length of our own Alchemy Stochastics indicator. |
KAdjust |
Specifies the %K length of our own Alchemy Stochastics indicator. |
DAdjust |
Specifies the %D length of our own Alchemy Stochastics indicator. |
UseAltOsc |
This input set to a positive value, uses the Stochastics formula typed in below under "AltOsc". When AltOsc is being used, it automatically overwrites the above inputs, Length, KAdjust and DAdjust, which use our own Alchemy Stochastics indicator. |
AltOsc |
With this input, any Stochastics formula can be pasted in through the EasyLanguage Dictionary. When AltOsc is being used, it automatically overwrites the above inputs, Length, KAdjust and DAdjust, which use our own Alchemy Stochastics indicator. |
Use_Close |
With Use_Close set to true, pivot highs and pivot lows are based on the closing price, whereas with Use_Close set to false, pivot highs are based on the high of the bar and pivot lows are based on the low of the bar. |
MinHook |
This user-defined input adjusts the minimum slope distance requirement for a hook of the Stochastics. |
OverBought |
Enables/disables the overbought requirement in which to look for bearish divergence. |
OverBoughtZone |
Specifies a minimum required specified indicator overbought value in which to look for bearish divergence. |
OverSold |
Enables/disables the oversold requirement in which to look for bullish divergence. |
OverSoldZone |
Specifies a minimum required specified indicator oversold value in which to look for bullish divergence. |
Divergence Inputs:
DivPrDi |
This user-defined input adjusts the minimum required distance for a double top/bottom. A negative number allows for the divergence price high/low to be shy of the previous price high/low by number of points. A positive number requires for the divergence price high/low to have penetrated the previous price high/low by number of points. |
DivOscDi |
This user-defined input adjusts the minimum required distance for the specified indicator to be higher than the previous specified indicator to qualify for bullish divergence and the minimum required distance for the specified indicator to be lower than the previous specified indicator to qualify for bearish divergence. |
OscLagLen |
This user-defined input adjusts the maximum number of bars for the Stochastics hook to lag price. |
MaxPivBack |
This user-defined input adjusts the maximum number of the Stochastics hook pivots to look back for divergence. |
MinDivLen |
This user-defined input adjusts the minimum number of bars between the previous high/low and the divergent high/low |
MaxDivLen |
This user-defined input adjusts the maximum number of bars between the previous high/low and the divergent high/low. A setting of 0 disables a maximum number of bars requirement. |
NewDailyDivg |
With a setting of 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. A setting of 0 disables this requirement. This input is ignored on daily, weekly and monthly charts. |
SessStartT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session start time. This input is ignored on daily, weekly and monthly charts. |
SessEndT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session end time. This input is ignored on daily, weekly and monthly charts. |
SessXDayOfWeek |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. This input Specifies a certain day of the week to be excluded from a session to be used. 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
The rest of the inputs are advanced inputs and they are not designed to be changed.
The Alchemy MACD Divergence Entry/Exit Strategies consist of the AlchemyMACDDivBuy long entry strategy, the AlchemyMACDDivLongX long exit strategy, the AlchemyMACDDivSell short entry strategyand the AlchemyMACDDivShrtX short exit strategy.
Strategy Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
SessionStartTme |
Specifies the session start time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the beginning of a new session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
SessionEndTme |
Specifies the session end time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the end of the last session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
XDayOfWeek |
Specifies the day of the week to exclude for resetting the accumulated daily profit/loss, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
Strategy Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
Strategy Input for the long entry and short exit strategies:
LPrice |
Specifies the price to be used for bullish divergence calculation. |
Strategy Input for the long exit and short entry strategies:
HPrice |
Specifies the price to be used for bearish divergence calculation. |
Strategy Inputs all strategies:
FastLength |
This user-defined input determines the number of bars over which the fast moving average of the MACD is calculated. |
SlowLength |
This user-defined input determines the number of bars over which the slow moving average of the MACD is calculated. |
MACDLength |
Specifies the number of bars over which the moving average of the MACD is calculated. With a setting of 0, this indicator detects divergence on the MACD, otherwise it detects divergence on the average of the MACD, which is referred to as the MACD signal line. |
FastMA |
Specifies a user-defined moving average for the fast moving average of the MACD and any moving average formula can be used. In order to use this custom moving average input, the inputs Fast Length and Slow Length need to be set to 0. For example, in order to use a 12 bar simple moving average for the fast moving average of the MACD, you would type in average(close,12) |
SlowMA |
Specifies a user-defined moving average for the slow moving average of the MACD and any moving average formula can be used. In order to use this custom moving average input, the inputs Fast Length and Slow Length need to be set to 0. For example, in order to use a 26 bar simple moving average for the slow moving average of the MACD, you would type in average(close,26) |
MACDMA |
Specifies a user-defined moving average for the MACD moving average and any moving average formula can be used. In order to use this custom moving average input, the inputs Fast Length and Slow Length need to be set to 0. Please note that this input functions independently from the FastMA and SlowMA input. For example, in order to use a 9 bar average of a 12/26 MACD, you would type in average( average(close,12)-average(close,26),9 ). Additionally, the input DivergeOsc needs to be set to 2 in order to use the MACD average for divergence calculation |
DivergeOsc |
With a setting of 1, the strategies detect divergence on the MACD and with a setting of 2, they detect divergence on the average of the MACD, which is referred to as the MACD signal line. This input is active only if the MACD is calculated with the custom MACD formulas under FastMA, SlowMA and/or MACDMA. |
DivFact |
This user-defined input adjusts the divergence sensitivity. A smaller number increases the signals divergence sensitivity, therefore, displaying divergence for smaller pivots. A larger number decreases the signals divergence sensitivity, therefore, displaying divergence for stronger pivots. We optimized this input to a factor of 0. |
ReverseDiv |
Enables reverse divergence calculation (lower price high/higher indicator high - higher price low/lower indicator low). |
OVBOVS |
The Alchemy MACDDivergence strategies look for bearish divergence when the MACD is in overbought territory as determined by the OverB input and they look for bullish divergence when the MACD is in oversold territory as determined by the OverS input. This input enables or disables these overbought/oversold zones restrictions. |
OverS |
The Alchemy MACDDivergence strategies look for bullish divergence when the MACD is in oversold territory as determined by this input. |
OverB |
The Alchemy MACDDivergence strategies look for bearish divergence when the MACD is in overbought territory as determined by this input. |
Cycles |
When the Alchemy MACDDivergence strategies find bearish divergence in overbought territory, they require for the MACD to cycle back down into oversold territory as determined by the OverSCyc input, in order to qualify for the next bearish divergence in overbought territory. When the Alchemy MACDDivergence strategies find bullish divergence in oversold territory, they require for the MACD to cycle back up into overbought territory as determined by the OverBCyc input, in order to qualify for the next bullish divergence in oversold territory. This input enables or disables these overbought/oversold cycle restrictions. |
OverSCyc |
When the Alchemy MACDDivergence strategies find bearish divergence in overbought territory, they require for the MACD to cycle back down to oversold territory as determined by this input, in order to qualify for the next bearish divergence in overbought territory. |
OverBCyc |
When the Alchemy MACDDivergence strategies find bullish divergence in oversold territory, they require for the MACD to cycle back up into overbought territory as determined by this input, in order to qualify for the next bullish divergence in oversold territory. |
MinPos |
The Alchemy MACDDivergence strategies look for bearish divergence when the MACD reaches a minimum positive value as determined by this input. A negative setting disables this input. |
MinNeg |
The Alchemy MACDDivergence strategies look for bullish divergence when the MACD reaches a minimum negative value as determined by this input. A negative setting disables this input. |
MaxSwg |
Maximum Swing is the number of swings the signal will look back to find divergence. It is set to 5. Increase this setting in order to look further back for divergence. As soon as the signal finds divergence, it will stop looking any further back, independent of the Maximum Swing setting. The higher this setting, the longer the calculation time. Please keep this in mind when increasing this input. |
Occur |
Occur is set to 1 and starts looking for divergence at the first swing high/low back. When the signal finds divergence it will stop looking. If you want to look further back, you can set “OCCUR “ to the swing high/low number past the one where it found divergence. Then the signal will start looking for divergence, starting with the next swing back from there. |
Stren |
Strength: The divergence signal compares the current price with previous swing highs or lows. The “Strength” setting is the number of required bars with lower highs on either side for qualifying swing highs and the number of required bars with higher lows on either side for qualifying swing lows. It is set to 2 bars. If you want to look for stronger pivots, you can increase this number. |
Len |
Length is the maximum number of bars the signal will look back for divergence and it is set to 49. If the signal can’t find divergence and you want to look further back, you can increase this setting together with “Maximum Swings”. |
The Alchemy MACD Hook Divergence Entry/Exit Strategies consist of the AlchemyMACDHookDivLE long entry strategy, the AlchemyMACDHookDivLX long exit strategy, the AlchemyMACDHookDivSE short entry strategy and the AlchemyMACDHookDivSX short exit strategy.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all strategies:
Indicator Inputs:
FastLength |
This user-defined input determines the number of bars over which the fast moving average of the MACD is calculated. |
SlowLength |
This user-defined input determines the number of bars over which the slow moving average of the MACD is calculated. |
MACDLength |
Specifies the number of bars over which the moving average of the MACD is calculated. With a setting of 0, this indicator detects divergence on the MACD, otherwise it detects divergence on the average of the MACD, which is referred to as the MACD signal line. |
FastMA |
Specifies a user-defined moving average for the fast moving average of the MACD and any moving average formula can be used. In order to use this custom moving average input, the inputs Fast Length and Slow Length need to be set to 0. For example, in order to use a 12 bar simple moving average for the fast moving average of the MACD, you would type in average(close,12) |
SlowMA |
Specifies a user-defined moving average for the slow moving average of the MACD and any moving average formula can be used. In order to use this custom moving average input, the inputs Fast Length and Slow Length need to be set to 0. For example, in order to use a 26 bar simple moving average for the slow moving average of the MACD, you would type in average(close,26) |
MACDMA |
Specifies a user-defined moving average for the MACD moving average and any moving average formula can be used. In order to use this custom moving average input, the inputs Fast Length and Slow Length need to be set to 0. Please note that this input functions independently from the FastMA and SlowMA input. For example, in order to use a 9 bar average of a 12/26 MACD, you would type in average( average(close,12)-average(close,26),9 ). Additionally, the input DivergeOsc needs to be set to 2 in order to use the MACD average for divergence calculation |
DivergeOsc |
With a setting of 1, the strategies detect divergence on the MACD and with a setting of 2, they detect divergence on the average of the MACD, which is referred to as the MACD signal line. This input is active only if the MACD is calculated with the custom MACD formulas under FastMA, SlowMA and/or MACDMA. |
Use_Close |
With Use_Close set to true, pivot highs and pivot lows are based on the closing price, whereas with Use_Close set to false, pivot highs are based on the high of the bar and pivot lows are based on the low of the bar. |
MinHook |
This user-defined input adjusts the minimum slope distance requirement for a hook of the specified indicator. |
OverBought |
Enables/disables the overbought requirement in which to look for bearish divergence. |
OverBoughtZone |
Specifies a minimum required specified indicator overbought value in which to look for bearish divergence. |
OverSold |
Enables/disables the oversold requirement in which to look for bullish divergence. |
OverSoldZone |
Specifies a minimum required specified indicator oversold value in which to look for bullish divergence. |
Divergence Inputs:
DivPrDi |
This user-defined input adjusts the minimum required distance for a double top/bottom. A negative number allows for the divergence price high/low to be shy of the previous price high/low by number of points. A positive number requires for the divergence price high/low to have penetrated the previous price high/low by number of points. |
DivOscDi |
This user-defined input adjusts the minimum required distance for the specified indicator to be higher than the previous specified indicator to qualify for bullish divergence and the minimum required distance for the specified indicator to be lower than the previous specified indicator to qualify for bearish divergence. |
OscLagLen |
This user-defined input adjusts the maximum number of bars for the specified indicator hook to lag price. |
MaxPivBack |
This user-defined input adjusts the maximum number of the specified indicator hook pivots to look back for divergence. |
MinDivLen |
This user-defined input adjusts the minimum number of bars between the previous high/low and the divergent high/low |
MaxDivLen |
This user-defined input adjusts the maximum number of bars between the previous high/low and the divergent high/low. A setting of 0 disables a maximum number of bars requirement. |
NewDailyDivg |
With a setting of 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. A setting of 0 disables this requirement. This input is ignored on daily, weekly and monthly charts. |
SessStartT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session start time. This input is ignored on daily, weekly and monthly charts. |
SessEndT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session end time. This input is ignored on daily, weekly and monthly charts. |
SessXDayOfWeek |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. This input Specifies a certain day of the week to be excluded from a session to be used. 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
The rest of the inputs are advanced inputs and they are not designed to be changed.
The Alchemy TICK Divergence Entry/Exit strategies consist of the AlchemyTICKDivBuy long entry strategy, the AlchemyTICKDivLongX long exit strategy, the AlchemyTICKDivSell short entry strategy and the AlchemyTICKDivShrtX short exit strategy.
User Defined Inputs for the long and short entry signals:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
SessionStartTme |
Specifies the session start time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the beginning of a new session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
SessionEndTme |
Specifies the session end time for resetting the accumulated daily profit/loss. A negative setting uses the calendar date for the end of the last session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
XDayOfWeek |
Specifies the day of the week to exclude for resetting the accumulated daily profit/loss, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
User Defined Inputs for the long and short exit signals:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all signals:
DivFact |
This user-defined input adjusts the divergence sensitivity. A smaller number increases the signals divergence sensitivity, therefore, displaying divergence for smaller pivots. A larger number decreases the signals divergence sensitivity, therefore, displaying divergence for stronger pivots. We optimized this input to a factor of 0. |
ReverseDiv |
Enables reverse divergence calculation (lower price high/higher indicator high - higher price low/lower indicator low ). |
MaxSwg |
Maximum Swing is the number of swings the signal will look back to find divergence. It is set to 5. Increase this setting in order to look further back for divergence. As soon as the signal finds divergence, it will stop looking any further back, independent of the Maximum Swing setting. The higher this setting, the longer the calculation time. Please keep this in mind when increasing this input. |
Occur |
Occur is set to 1 and starts looking for divergence at the first swing high/low back. When the signal finds divergence it will stop looking. If you want to look further back, you can set “OCCUR “ to the swing high/low number past the one where it found divergence. Then the signal will start looking for divergence, starting with the next swing back from there. |
Stren |
Strength: The divergence signal compares the current price with previous swing highs or lows. The “Strength” setting is the number of required bars with lower highs on either side for qualifying swing highs and the number of required bars with higher lows on either side for qualifying swing lows. It is set to 2 bars. If you want to look for stronger pivots, you can increase this number. |
Len |
Length is the maximum number of bars the signal will look back for divergence and it is set to 49. If the signal can’t find divergence and you want to look further back, you can increase this setting together with “Maximum Swings”. |
The Alchemy Tick Hook Divergence Entry/Exit Strategies consist of the AlchemyTickHookDivLE long entry strategy, the AlchemyTickHookDivLX long exit strategy, the AlchemyTickHookDivSE short entry strategy and the AlchemyTickHookDivSX short exit strategy.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaxAccumProfit |
Specifies the maximum accumulated daily dollar profit on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
MaxAccumLoss |
Specifies the maximum accumulated daily dollar loss on a position basis at which the strategies stop generating new entry signals for the day, whereas a setting of 0 disables this feature. This input is ignored on daily, weekly and monthly charts. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all strategies:
Indicator Inputs:
DataSer |
Specifies the data series number on which the second data series is applied on. |
MinHook |
Specifies the minimum required distance from the up hook to the trough and the minimum required distance from the down hook to the peak in order to be considered as a valid peak/trough. |
OverBought |
Enables/disables the overbought requirement in which to look for bearish divergence (SE and LX strategies). |
OverBoughtZone |
Specifies a minimum required specified indicator overbought value in which to look for bearish divergence (SE and LX strategies). |
OverSold |
Enables/disables the oversold requirement in which to look for bullish divergence (LE and SX strategies). |
OverSoldZone |
Specifies a minimum required specified indicator oversold value in which to look for bullish divergence (LE and SX strategies). |
Divergence Inputs:
DivPrDi |
This user-defined input adjusts the minimum required distance for a double top/bottom. A negative number allows for the divergence price high/low to be shy of the previous price high/low by number of points. A positive number requires for the divergence price high/low to have penetrated the previous price high/low by number of points. |
DivOscDi |
This user-defined input adjusts the minimum required distance for the specified indicator to be higher than the previous specified indicator to qualify for bullish divergence and the minimum required distance for the specified indicator to be lower than the previous specified indicator to qualify for bearish divergence. |
OscLagLen |
This user-defined input adjusts the maximum number of bars for the specified indicator hook to lag price. |
MaxPivBack |
This user-defined input adjusts the maximum number of the specified indicator hook pivots to look back for divergence. |
MinDivLen |
This user-defined input adjusts the minimum number of bars between the previous high/low and the divergent high/low |
MaxDivLen |
This user-defined input adjusts the maximum number of bars between the previous high/low and the divergent high/low. A setting of 0 disables a maximum number of bars requirement. |
NewDailyDivg |
With a setting of 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. A setting of 0 disables this requirement. This input is ignored on daily, weekly and monthly charts. |
SessStartT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session start time. This input is ignored on daily, weekly and monthly charts. |
SessEndT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session end time. This input is ignored on daily, weekly and monthly charts. |
SessXDayOfWeek |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. This input Specifies a certain day of the week to be excluded from a session to be used. 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
The rest of the inputs are advanced inputs and they are not designed to be changed.
The Alchemy CCI Divergence Complete Strategy enters long with bullish CCI divergence
and it enters short with bearish CCI divergence. Divergence can be detected as
follows:
Divergence can be specified as regular divergence, opposite divergence or
reverse divergence.
This strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their
individual minimum profit threshold. For example, stop 1 can be set as an
initial protective stop, stop 2 can be set as a breakeven or lock in profit stop
once a certain position profit is reached and stop 3 can be set as a trailing
stop once a certain position profit is reached. Each stop has the option of
exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares for
scaling out at various profit targets.
End of day exit.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entries:
LongShortEntry |
A negative setting allows for short entries only, a setting of 0 allows for long and short entries and a positive setting allows for long entries only. |
NumberEntries |
Specifies the number of shares/contracts to enter at the initial entry |
NumberAddOns |
Specifies the number of shares/contracts to add-on to the existing position when there is new divergence into the same direction as the currently held position |
Reverse |
With a setting of 1, the strategy reverses positions when an opposite divergence signals is detected. A setting of 0 disables this feature. |
Divergence Exits:
LongShortExit |
A negative setting allows for short exits only when there is bullish divergence. A setting of 0 allows for long exits when there is bearish divergence and short exits when there is bullish divergence. A positive setting allows for long exits only when there is bearish divergence. |
ExitPercent |
Specifies the percent contracts/shares to exit when there is divergence into the opposite direction of the currently held position. |
OrderType:
BarClose |
A setting of 0 generates a market order at the bar close to be filled at the open of the next bar and a setting of 1 generates a market order at the bar close to be filled at the bar close. |
Price:
BearishPriceType |
Specifies the predefined price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPriceType |
Specifies the predefined price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
CCI:
Length |
Specifies the look back length to be used for the CCI. |
AvgLength |
Specifies the look back length to be used for the average of the CCI. With a setting of 0, the CCI is used for divergence. |
AvgType |
Specifies the average type to be used for the average of the CCI. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average. With a setting of 0, the CCI is used for divergence. |
Divergence:
ReverseDivergence |
A setting of false uses regular divergence as defined as follows: Bearish Divergence: Higher prices and lower oscillator - Bullish Divergence: Lower prices and higher oscillator
A setting of true uses reverse divergence as defined as follows: Bearish Divergence: Lower prices and higher oscillator - Bullish Divergence: Higher prices and lower oscillator |
MinimumBars |
Specifies the minimum number of required bars in between 2 price pivots. |
MaximumBars |
Specifies the maximum number of allowed bars in between 2 price pivots, whereas a setting of 0 disables this requirement. |
MaximumPivotsBack |
Specifies the maximum number of price pivots for the indicator to look back for divergence. |
MinPriceDifference |
Specifies the minimum required point/dollar price difference between two price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot high has to be at least 1 point higher from the first price pivot high in order to qualify for bearish divergence and with a setting of -1, the second price pivot high can be as much as 1 point lower than the first price pivot in order to still qualify for bearish divergence. |
PivotLeftStrength |
Specifies the minimum required number of bars with lower lows to the left of a pivot high or the minimum required number of bars with higher highs to the left of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotRightStrength |
Specifies the minimum required number of bars with lower lows to the right of a pivot high or the minimum required number of bars with higher highs to the right of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotMaxEqualBars |
Specifies the maximum number of allowed bars with equal higher highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
PivotUnEqualBars |
Specifies the maximum number of allowed bars with lower highs in between 2 equal highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with higher lows in between 2 equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
MinimumOscHook |
Specifies the minimum oscillator hook that is required to look for divergence, whereas with a setting of 0 the oscillator needs to be hooking down or up by more than just 0. A bearish hook always creates a peak and the minimum hook distance is specified in the value difference between the peak value and the oscillator value as it slopes down. Once a hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price and the current oscillator value with previous pivots and their oscillator values. |
OscLeadingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OscLaggingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OppositeOscillator |
A setting of true uses opposite divergence as defined as follows: Regular opposite bearish divergence: Higher prices and higher oscillator Reverse opposite bearish divergence: Lower prices and lower oscillator Regular opposite bullish divergence: Lower prices and lower oscillator Reverse opposite bullish divergence: higher prices and higher oscillator |
UseThreshold1 |
Enables/disables the requirement of the first oscillator pivot to be beyond a threshold as specified with the input BearishThreshold1 and BullishThreshold1 |
UseThreshold2 |
Enables/disables the requirement of the second oscillator pivot to be beyond a threshold as specified with the input BearishThreshold2 and BullishThreshold2. |
BearishThreshold1 |
Specifies the threshold for the first bearish oscillator pivot. |
BearishThreshold2 |
Specifies the threshold for the second bearish oscillator pivot. |
BullishThreshold1 |
Specifies the threshold for the first bullish oscillator pivot. |
BullishThreshold2 |
Specifies the threshold for the second bullish oscillator pivot. |
MinOscDivergence |
Specifies the minimum required oscillator value difference between two oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second oscillator price still exceeds the first oscillator pivot by this specified distance. For example, with a setting of 10, the second bearish oscillator pivot has to be lower by at least 10 from the first bearish oscillator pivot in order to qualify for bearish divergence and with a setting of -10, the second bearish oscillator pivot can still be higher than 10 points from the first bearish oscillator pivot in order to still qualify for bearish divergence. |
TestForOscPeakTrough |
With a setting of true, the first bearish oscillator pivot has to be the highest pivot for regular bearish divergence and the first bearish oscillator pivot has to be the lowest pivot for regular opposite bearish divergence. This avoids detecting bearish divergence if there is a higher bearish oscillator pivot in between two oscillator pivots. Vice versa, with a setting of true, the first bullish oscillator pivot has to be the lowest pivot for regular bullish divergence and the first bullish oscillator pivot has to be the highest pivot for regular opposite bullish divergence. This avoids detecting bullish divergence if there is a lower bullish oscillator pivot in between the two oscillator pivots. |
Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Fixed Point Distance Profit Targets: | |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
Dynamic Market Range Profit Targets: | |
Target1Length |
Specifies the numbers of bars to look back for the current market range for calculating the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Length |
Specifies the numbers of bars to look back for the current market range for calculating the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Length |
Specifies the numbers of bars to look back for the current market range for calculating the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
Target1Percent |
Specifies the current market range percent to use as a distance for placing the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Percent |
Specifies the current market range percent to use as a distance for placing the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Percent |
Specifies the current market range percent to use as a distance for placing the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
End Of Day Exit:
MinutesBeforeEndTime |
Specifies the number of minutes before the session end time as to when to close out all positions. A negative setting disables the end of day exit. |
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the session end time. A negative
setting uses the calendar date for the end of a new session. The format
is in military charting time without the colon, e.g. 1:00pm would be
entered as 1300.
|
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
|
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy Dual Data Divergence Complete Strategy enters long with bullish divergence between price and a second data series and it enters short with bearish divergence between price and a second data series. Divergence can be detected as follows:
Divergence between
2 different price series
Divergence can be specified as regular divergence, opposite divergence or
reverse divergence.
This strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their
individual minimum profit threshold. For example, stop 1 can be set as an
initial protective stop, stop 2 can be set as a breakeven or lock in profit stop
once a certain position profit is reached and stop 3 can be set as a trailing
stop once a certain position profit is reached. Each stop has the option of
exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares for
scaling out at various profit targets.
End of day exit.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entries:
LongShortEntry |
A negative setting allows for short entries only, a setting of 0 allows for long and short entries and a positive setting allows for long entries only. |
NumberEntries |
Specifies the number of shares/contracts to enter at the initial entry |
NumberAddOns |
Specifies the number of shares/contracts to add-on to the existing position when there is new divergence into the same direction as the currently held position |
Reverse |
With a setting of 1, the strategy reverses positions when an opposite divergence signals is detected. A setting of 0 disables this feature. |
Divergence Exits:
LongShortExit |
A negative setting allows for short exits only when there is bullish divergence. A setting of 0 allows for long exits when there is bearish divergence and short exits when there is bullish divergence. A positive setting allows for long exits only when there is bearish divergence. |
ExitPercent |
Specifies the percent contracts/shares to exit when there is divergence into the opposite direction of the currently held position. |
OrderType:
BarClose |
A setting of 0 generates a market order at the bar close to be filled at the open of the next bar and a setting of 1 generates a market order at the bar close to be filled at the bar close. |
Price:
BearishPriceType |
Specifies the predefined price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPriceType |
Specifies the predefined price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BearishPrice2Type |
Specifies the second price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPrice2Type |
Specifies the second price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
DataSeries2Number |
Specifies the data series number to be used for the second price series. |
Divergence:
ReverseDivergence |
A setting of false uses regular divergence as defined as follows: Bearish Divergence: Higher prices and lower oscillator - Bullish Divergence: Lower prices and higher oscillator
A setting of true uses reverse divergence as defined as follows: Bearish Divergence: Lower prices and higher oscillator - Bullish Divergence: Higher prices and lower oscillator |
MinimumBars |
Specifies the minimum number of required bars in between 2 price pivots. |
MaximumBars |
Specifies the maximum number of allowed bars in between 2 price pivots, whereas a setting of 0 disables this requirement. |
MaximumPivotsBack |
Specifies the maximum number of price pivots for the indicator to look back for divergence. |
MinPriceDifference |
Specifies the minimum required point/dollar price difference between two price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot high has to be at least 1 point higher from the first price pivot high in order to qualify for bearish divergence and with a setting of -1, the second price pivot high can be as much as 1 point lower than the first price pivot in order to still qualify for bearish divergence. |
PivotLeftStrength |
Specifies the minimum required number of bars with lower lows to the left of a pivot high or the minimum required number of bars with higher highs to the left of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotRightStrength |
Specifies the minimum required number of bars with lower lows to the right of a pivot high or the minimum required number of bars with higher highs to the right of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotMaxEqualBars |
Specifies the maximum number of allowed bars with equal higher highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
PivotUnEqualBars |
Specifies the maximum number of allowed bars with lower highs in between 2 equal highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with higher lows in between 2 equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
MinimumOscHook |
Specifies the minimum oscillator hook that is required to look for divergence, whereas with a setting of 0 the oscillator needs to be hooking down or up by more than just 0. A bearish hook always creates a peak and the minimum hook distance is specified in the value difference between the peak value and the oscillator value as it slopes down. Once a hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price and the current oscillator value with previous pivots and their oscillator values. |
OscLeadingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OscLaggingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OppositeOscillator |
A setting of true uses opposite divergence as defined as follows: Regular opposite bearish divergence: Higher prices and higher oscillator Reverse opposite bearish divergence: Lower prices and lower oscillator Regular opposite bullish divergence: Lower prices and lower oscillator Reverse opposite bullish divergence: higher prices and higher oscillator |
UseThreshold1 |
Enables/disables the requirement of the first oscillator pivot to be beyond a threshold as specified with the input BearishThreshold1 and BullishThreshold1 |
UseThreshold2 |
Enables/disables the requirement of the second oscillator pivot to be beyond a threshold as specified with the input BearishThreshold2 and BullishThreshold2. |
BearishThreshold1 |
Specifies the threshold for the first bearish oscillator pivot. |
BearishThreshold2 |
Specifies the threshold for the second bearish oscillator pivot. |
BullishThreshold1 |
Specifies the threshold for the first bullish oscillator pivot. |
BullishThreshold2 |
Specifies the threshold for the second bullish oscillator pivot. |
MinOscDivergence |
Specifies the minimum required oscillator value difference between two oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second oscillator price still exceeds the first oscillator pivot by this specified distance. For example, with a setting of 10, the second bearish oscillator pivot has to be lower by at least 10 from the first bearish oscillator pivot in order to qualify for bearish divergence and with a setting of -10, the second bearish oscillator pivot can still be higher than 10 points from the first bearish oscillator pivot in order to still qualify for bearish divergence. |
TestForOscPeakTrough |
With a setting of true, the first bearish oscillator pivot has to be the highest pivot for regular bearish divergence and the first bearish oscillator pivot has to be the lowest pivot for regular opposite bearish divergence. This avoids detecting bearish divergence if there is a higher bearish oscillator pivot in between two oscillator pivots. Vice versa, with a setting of true, the first bullish oscillator pivot has to be the lowest pivot for regular bullish divergence and the first bullish oscillator pivot has to be the highest pivot for regular opposite bullish divergence. This avoids detecting bullish divergence if there is a lower bullish oscillator pivot in between the two oscillator pivots. |
Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Fixed Point Distance Profit Targets: | |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
Dynamic Market Range Profit Targets: | |
Target1Length |
Specifies the numbers of bars to look back for the current market range for calculating the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Length |
Specifies the numbers of bars to look back for the current market range for calculating the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Length |
Specifies the numbers of bars to look back for the current market range for calculating the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
Target1Percent |
Specifies the current market range percent to use as a distance for placing the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Percent |
Specifies the current market range percent to use as a distance for placing the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Percent |
Specifies the current market range percent to use as a distance for placing the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
End Of Day Exit:
MinutesBeforeEndTime |
Specifies the number of minutes before the session end time as to when to close out all positions. A negative setting disables the end of day exit. |
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the session end time. A negative
setting uses the calendar date for the end of a new session. The format
is in military charting time without the colon, e.g. 1:00pm would be
entered as 1300.
|
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
|
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy MACD Divergence Complete Strategy enters long with bullish MACD divergence
and it enters short with bearish MACD divergence. Divergence can be detected as
follows:
Divergence can be specified as regular divergence, opposite divergence or
reverse divergence.
This strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their
individual minimum profit threshold. For example, stop 1 can be set as an
initial protective stop, stop 2 can be set as a breakeven or lock in profit stop
once a certain position profit is reached and stop 3 can be set as a trailing
stop once a certain position profit is reached. Each stop has the option of
exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares for
scaling out at various profit targets.
End of day exit.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entries:
LongShortEntry |
A negative setting allows for short entries only, a setting of 0 allows for long and short entries and a positive setting allows for long entries only. |
NumberEntries |
Specifies the number of shares/contracts to enter at the initial entry |
NumberAddOns |
Specifies the number of shares/contracts to add-on to the existing position when there is new divergence into the same direction as the currently held position |
Reverse |
With a setting of 1, the strategy reverses positions when an opposite divergence signals is detected. A setting of 0 disables this feature. |
Divergence Exits:
LongShortExit |
A negative setting allows for short exits only when there is bullish divergence. A setting of 0 allows for long exits when there is bearish divergence and short exits when there is bullish divergence. A positive setting allows for long exits only when there is bearish divergence. |
ExitPercent |
Specifies the percent contracts/shares to exit when there is divergence into the opposite direction of the currently held position. |
OrderType:
BarClose |
A setting of 0 generates a market order at the bar close to be filled at the open of the next bar and a setting of 1 generates a market order at the bar close to be filled at the bar close. |
Price:
BearishPriceType |
Specifies the predefined price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPriceType |
Specifies the predefined price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
FastLength |
Specifies the look back length to be used for the fast moving average of the MACD. |
SlowLength |
Specifies the look back length to be used for the slow moving average of the MACD. |
MACD_AvgLength |
Specifies the look back length to be used for the average of the MACD. With a setting of 0, the MACD is used for divergence. |
MACD_AvgType |
Specifies the average type to be used for the average of the MACD. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average. With a setting of 0, the MACD is used for divergence. |
Divergence:
ReverseDivergence |
A setting of false uses regular divergence as defined as follows: Bearish Divergence: Higher prices and lower oscillator - Bullish Divergence: Lower prices and higher oscillator
A setting of true uses reverse divergence as defined as follows: Bearish Divergence: Lower prices and higher oscillator - Bullish Divergence: Higher prices and lower oscillator |
MinimumBars |
Specifies the minimum number of required bars in between 2 price pivots. |
MaximumBars |
Specifies the maximum number of allowed bars in between 2 price pivots, whereas a setting of 0 disables this requirement. |
MaximumPivotsBack |
Specifies the maximum number of price pivots for the indicator to look back for divergence. |
MinPriceDifference |
Specifies the minimum required point/dollar price difference between two price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot high has to be at least 1 point higher from the first price pivot high in order to qualify for bearish divergence and with a setting of -1, the second price pivot high can be as much as 1 point lower than the first price pivot in order to still qualify for bearish divergence. |
PivotLeftStrength |
Specifies the minimum required number of bars with lower lows to the left of a pivot high or the minimum required number of bars with higher highs to the left of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotRightStrength |
Specifies the minimum required number of bars with lower lows to the right of a pivot high or the minimum required number of bars with higher highs to the right of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotMaxEqualBars |
Specifies the maximum number of allowed bars with equal higher highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
PivotUnEqualBars |
Specifies the maximum number of allowed bars with lower highs in between 2 equal highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with higher lows in between 2 equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
MinimumOscHook |
Specifies the minimum oscillator hook that is required to look for divergence, whereas with a setting of 0 the oscillator needs to be hooking down or up by more than just 0. A bearish hook always creates a peak and the minimum hook distance is specified in the value difference between the peak value and the oscillator value as it slopes down. Once a hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price and the current oscillator value with previous pivots and their oscillator values. |
OscLeadingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OscLaggingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OppositeOscillator |
A setting of true uses opposite divergence as defined as follows: Regular opposite bearish divergence: Higher prices and higher oscillator Reverse opposite bearish divergence: Lower prices and lower oscillator Regular opposite bullish divergence: Lower prices and lower oscillator Reverse opposite bullish divergence: higher prices and higher oscillator |
UseThreshold1 |
Enables/disables the requirement of the first oscillator pivot to be beyond a threshold as specified with the input BearishThreshold1 and BullishThreshold1 |
UseThreshold2 |
Enables/disables the requirement of the second oscillator pivot to be beyond a threshold as specified with the input BearishThreshold2 and BullishThreshold2. |
BearishThreshold1 |
Specifies the threshold for the first bearish oscillator pivot. |
BearishThreshold2 |
Specifies the threshold for the second bearish oscillator pivot. |
BullishThreshold1 |
Specifies the threshold for the first bullish oscillator pivot. |
BullishThreshold2 |
Specifies the threshold for the second bullish oscillator pivot. |
MinOscDivergence |
Specifies the minimum required oscillator value difference between two oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second oscillator price still exceeds the first oscillator pivot by this specified distance. For example, with a setting of 10, the second bearish oscillator pivot has to be lower by at least 10 from the first bearish oscillator pivot in order to qualify for bearish divergence and with a setting of -10, the second bearish oscillator pivot can still be higher than 10 points from the first bearish oscillator pivot in order to still qualify for bearish divergence. |
TestForOscPeakTrough |
With a setting of true, the first bearish oscillator pivot has to be the highest pivot for regular bearish divergence and the first bearish oscillator pivot has to be the lowest pivot for regular opposite bearish divergence. This avoids detecting bearish divergence if there is a higher bearish oscillator pivot in between two oscillator pivots. Vice versa, with a setting of true, the first bullish oscillator pivot has to be the lowest pivot for regular bullish divergence and the first bullish oscillator pivot has to be the highest pivot for regular opposite bullish divergence. This avoids detecting bullish divergence if there is a lower bullish oscillator pivot in between the two oscillator pivots. |
Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Fixed Point Distance Profit Targets: | |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
Dynamic Market Range Profit Targets: | |
Target1Length |
Specifies the numbers of bars to look back for the current market range for calculating the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Length |
Specifies the numbers of bars to look back for the current market range for calculating the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Length |
Specifies the numbers of bars to look back for the current market range for calculating the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
Target1Percent |
Specifies the current market range percent to use as a distance for placing the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Percent |
Specifies the current market range percent to use as a distance for placing the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Percent |
Specifies the current market range percent to use as a distance for placing the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
End Of Day Exit:
MinutesBeforeEndTime |
Specifies the number of minutes before the session end time as to when to close out all positions. A negative setting disables the end of day exit. |
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the session end time. A negative
setting uses the calendar date for the end of a new session. The format
is in military charting time without the colon, e.g. 1:00pm would be
entered as 1300.
|
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
|
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy RSI Divergence Complete Strategy enters long with bullish RSI divergence
and it enters short with bearish RSI divergence. Divergence can be detected as
follows:
Divergence can be specified as regular divergence, opposite divergence or
reverse divergence.
This strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their
individual minimum profit threshold. For example, stop 1 can be set as an
initial protective stop, stop 2 can be set as a breakeven or lock in profit stop
once a certain position profit is reached and stop 3 can be set as a trailing
stop once a certain position profit is reached. Each stop has the option of
exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares for
scaling out at various profit targets.
End of day exit.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entries:
LongShortEntry |
A negative setting allows for short entries only, a setting of 0 allows for long and short entries and a positive setting allows for long entries only. |
NumberEntries |
Specifies the number of shares/contracts to enter at the initial entry |
NumberAddOns |
Specifies the number of shares/contracts to add-on to the existing position when there is new divergence into the same direction as the currently held position |
Reverse |
With a setting of 1, the strategy reverses positions when an opposite divergence signals is detected. A setting of 0 disables this feature. |
Divergence Exits:
LongShortExit |
A negative setting allows for short exits only when there is bullish divergence. A setting of 0 allows for long exits when there is bearish divergence and short exits when there is bullish divergence. A positive setting allows for long exits only when there is bearish divergence. |
ExitPercent |
Specifies the percent contracts/shares to exit when there is divergence into the opposite direction of the currently held position. |
OrderType:
BarClose |
A setting of 0 generates a market order at the bar close to be filled at the open of the next bar and a setting of 1 generates a market order at the bar close to be filled at the bar close. |
Price:
BearishPriceType |
Specifies the predefined price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPriceType |
Specifies the predefined price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
RSI_Price |
Specifies the price to be used for the RSI. |
Length |
Specifies the look back length to be used for the RSI. |
Divergence:
ReverseDivergence |
A setting of false uses regular divergence as defined as follows: Bearish Divergence: Higher prices and lower oscillator - Bullish Divergence: Lower prices and higher oscillator
A setting of true uses reverse divergence as defined as follows: Bearish Divergence: Lower prices and higher oscillator - Bullish Divergence: Higher prices and lower oscillator |
MinimumBars |
Specifies the minimum number of required bars in between 2 price pivots. |
MaximumBars |
Specifies the maximum number of allowed bars in between 2 price pivots, whereas a setting of 0 disables this requirement. |
MaximumPivotsBack |
Specifies the maximum number of price pivots for the indicator to look back for divergence. |
MinPriceDifference |
Specifies the minimum required point/dollar price difference between two price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot high has to be at least 1 point higher from the first price pivot high in order to qualify for bearish divergence and with a setting of -1, the second price pivot high can be as much as 1 point lower than the first price pivot in order to still qualify for bearish divergence. |
PivotLeftStrength |
Specifies the minimum required number of bars with lower lows to the left of a pivot high or the minimum required number of bars with higher highs to the left of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotRightStrength |
Specifies the minimum required number of bars with lower lows to the right of a pivot high or the minimum required number of bars with higher highs to the right of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotMaxEqualBars |
Specifies the maximum number of allowed bars with equal higher highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
PivotUnEqualBars |
Specifies the maximum number of allowed bars with lower highs in between 2 equal highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with higher lows in between 2 equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
MinimumOscHook |
Specifies the minimum oscillator hook that is required to look for divergence, whereas with a setting of 0 the oscillator needs to be hooking down or up by more than just 0. A bearish hook always creates a peak and the minimum hook distance is specified in the value difference between the peak value and the oscillator value as it slopes down. Once a hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price and the current oscillator value with previous pivots and their oscillator values. |
OscLeadingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OscLaggingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OppositeOscillator |
A setting of true uses opposite divergence as defined as follows: Regular opposite bearish divergence: Higher prices and higher oscillator Reverse opposite bearish divergence: Lower prices and lower oscillator Regular opposite bullish divergence: Lower prices and lower oscillator Reverse opposite bullish divergence: higher prices and higher oscillator |
UseThreshold1 |
Enables/disables the requirement of the first oscillator pivot to be beyond a threshold as specified with the input BearishThreshold1 and BullishThreshold1 |
UseThreshold2 |
Enables/disables the requirement of the second oscillator pivot to be beyond a threshold as specified with the input BearishThreshold2 and BullishThreshold2. |
BearishThreshold1 |
Specifies the threshold for the first bearish oscillator pivot. |
BearishThreshold2 |
Specifies the threshold for the second bearish oscillator pivot. |
BullishThreshold1 |
Specifies the threshold for the first bullish oscillator pivot. |
BullishThreshold2 |
Specifies the threshold for the second bullish oscillator pivot. |
MinOscDivergence |
Specifies the minimum required oscillator value difference between two oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second oscillator price still exceeds the first oscillator pivot by this specified distance. For example, with a setting of 10, the second bearish oscillator pivot has to be lower by at least 10 from the first bearish oscillator pivot in order to qualify for bearish divergence and with a setting of -10, the second bearish oscillator pivot can still be higher than 10 points from the first bearish oscillator pivot in order to still qualify for bearish divergence. |
TestForOscPeakTrough |
With a setting of true, the first bearish oscillator pivot has to be the highest pivot for regular bearish divergence and the first bearish oscillator pivot has to be the lowest pivot for regular opposite bearish divergence. This avoids detecting bearish divergence if there is a higher bearish oscillator pivot in between two oscillator pivots. Vice versa, with a setting of true, the first bullish oscillator pivot has to be the lowest pivot for regular bullish divergence and the first bullish oscillator pivot has to be the highest pivot for regular opposite bullish divergence. This avoids detecting bullish divergence if there is a lower bullish oscillator pivot in between the two oscillator pivots. |
Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Fixed Point Distance Profit Targets: | |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
Dynamic Market Range Profit Targets: | |
Target1Length |
Specifies the numbers of bars to look back for the current market range for calculating the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Length |
Specifies the numbers of bars to look back for the current market range for calculating the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Length |
Specifies the numbers of bars to look back for the current market range for calculating the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
Target1Percent |
Specifies the current market range percent to use as a distance for placing the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Percent |
Specifies the current market range percent to use as a distance for placing the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Percent |
Specifies the current market range percent to use as a distance for placing the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
End Of Day Exit:
MinutesBeforeEndTime |
Specifies the number of minutes before the session end time as to when to close out all positions. A negative setting disables the end of day exit. |
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the session end time. A negative
setting uses the calendar date for the end of a new session. The format
is in military charting time without the colon, e.g. 1:00pm would be
entered as 1300.
|
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
|
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy Stochastic Divergence Complete Strategy enters long with bullish
Stochastic divergence
and it enters short with bearish Stochastic divergence. Divergence can be detected as
follows:
Divergence can be specified as regular divergence, opposite divergence or
reverse divergence.
This strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their
individual minimum profit threshold. For example, stop 1 can be set as an
initial protective stop, stop 2 can be set as a breakeven or lock in profit stop
once a certain position profit is reached and stop 3 can be set as a trailing
stop once a certain position profit is reached. Each stop has the option of
exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares for
scaling out at various profit targets.
End of day exit.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entries:
LongShortEntry |
A negative setting allows for short entries only, a setting of 0 allows for long and short entries and a positive setting allows for long entries only. |
NumberEntries |
Specifies the number of shares/contracts to enter at the initial entry |
NumberAddOns |
Specifies the number of shares/contracts to add-on to the existing position when there is new divergence into the same direction as the currently held position |
Reverse |
With a setting of 1, the strategy reverses positions when an opposite divergence signals is detected. A setting of 0 disables this feature. |
Divergence Exits:
LongShortExit |
A negative setting allows for short exits only when there is bullish divergence. A setting of 0 allows for long exits when there is bearish divergence and short exits when there is bullish divergence. A positive setting allows for long exits only when there is bearish divergence. |
ExitPercent |
Specifies the percent contracts/shares to exit when there is divergence into the opposite direction of the currently held position. |
OrderType:
BarClose |
A setting of 0 generates a market order at the bar close to be filled at the open of the next bar and a setting of 1 generates a market order at the bar close to be filled at the bar close. |
Price:
BearishPriceType |
Specifies the predefined price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPriceType |
Specifies the predefined price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
StochLength |
Specifies the look back length to be used for the Stochastic. |
SmoothingLength1 |
Specifies the first smoothing length of the Stochastic. |
SmoothingLength2 |
Specifies the second smoothing length of the Stochastic. |
FastK1_SlowK2_FastD3_SlowD4 |
With a setting of 1, the FastK is used for divergence, with a setting of 2, the SlowK is used for divergence, with a setting of 3, the FastD is used for divergence and with a setting of 4, the SlowD is used for divergence. |
Divergence:
ReverseDivergence |
A setting of false uses regular divergence as defined as follows: Bearish Divergence: Higher prices and lower oscillator - Bullish Divergence: Lower prices and higher oscillator
A setting of true uses reverse divergence as defined as follows: Bearish Divergence: Lower prices and higher oscillator - Bullish Divergence: Higher prices and lower oscillator |
MinimumBars |
Specifies the minimum number of required bars in between 2 price pivots. |
MaximumBars |
Specifies the maximum number of allowed bars in between 2 price pivots, whereas a setting of 0 disables this requirement. |
MaximumPivotsBack |
Specifies the maximum number of price pivots for the indicator to look back for divergence. |
MinPriceDifference |
Specifies the minimum required point/dollar price difference between two price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot high has to be at least 1 point higher from the first price pivot high in order to qualify for bearish divergence and with a setting of -1, the second price pivot high can be as much as 1 point lower than the first price pivot in order to still qualify for bearish divergence. |
PivotLeftStrength |
Specifies the minimum required number of bars with lower lows to the left of a pivot high or the minimum required number of bars with higher highs to the left of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotRightStrength |
Specifies the minimum required number of bars with lower lows to the right of a pivot high or the minimum required number of bars with higher highs to the right of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotMaxEqualBars |
Specifies the maximum number of allowed bars with equal higher highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
PivotUnEqualBars |
Specifies the maximum number of allowed bars with lower highs in between 2 equal highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with higher lows in between 2 equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
MinimumOscHook |
Specifies the minimum oscillator hook that is required to look for divergence, whereas with a setting of 0 the oscillator needs to be hooking down or up by more than just 0. A bearish hook always creates a peak and the minimum hook distance is specified in the value difference between the peak value and the oscillator value as it slopes down. Once a hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price and the current oscillator value with previous pivots and their oscillator values. |
OscLeadingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OscLaggingBars |
Specifies the maximum number of bars that the oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting divergence. |
OppositeOscillator |
A setting of true uses opposite divergence as defined as follows: Regular opposite bearish divergence: Higher prices and higher oscillator Reverse opposite bearish divergence: Lower prices and lower oscillator Regular opposite bullish divergence: Lower prices and lower oscillator Reverse opposite bullish divergence: higher prices and higher oscillator |
UseThreshold1 |
Enables/disables the requirement of the first oscillator pivot to be beyond a threshold as specified with the input BearishThreshold1 and BullishThreshold1 |
UseThreshold2 |
Enables/disables the requirement of the second oscillator pivot to be beyond a threshold as specified with the input BearishThreshold2 and BullishThreshold2. |
BearishThreshold1 |
Specifies the threshold for the first bearish oscillator pivot. |
BearishThreshold2 |
Specifies the threshold for the second bearish oscillator pivot. |
BullishThreshold1 |
Specifies the threshold for the first bullish oscillator pivot. |
BullishThreshold2 |
Specifies the threshold for the second bullish oscillator pivot. |
MinOscDivergence |
Specifies the minimum required oscillator value difference between two oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second oscillator price still exceeds the first oscillator pivot by this specified distance. For example, with a setting of 10, the second bearish oscillator pivot has to be lower by at least 10 from the first bearish oscillator pivot in order to qualify for bearish divergence and with a setting of -10, the second bearish oscillator pivot can still be higher than 10 points from the first bearish oscillator pivot in order to still qualify for bearish divergence. |
TestForOscPeakTrough |
With a setting of true, the first bearish oscillator pivot has to be the highest pivot for regular bearish divergence and the first bearish oscillator pivot has to be the lowest pivot for regular opposite bearish divergence. This avoids detecting bearish divergence if there is a higher bearish oscillator pivot in between two oscillator pivots. Vice versa, with a setting of true, the first bullish oscillator pivot has to be the lowest pivot for regular bullish divergence and the first bullish oscillator pivot has to be the highest pivot for regular opposite bullish divergence. This avoids detecting bullish divergence if there is a lower bullish oscillator pivot in between the two oscillator pivots. |
Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Fixed Point Distance Profit Targets: | |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
Dynamic Market Range Profit Targets: | |
Target1Length |
Specifies the numbers of bars to look back for the current market range for calculating the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Length |
Specifies the numbers of bars to look back for the current market range for calculating the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Length |
Specifies the numbers of bars to look back for the current market range for calculating the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
Target1Percent |
Specifies the current market range percent to use as a distance for placing the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Percent |
Specifies the current market range percent to use as a distance for placing the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Percent |
Specifies the current market range percent to use as a distance for placing the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
End Of Day Exit:
MinutesBeforeEndTime |
Specifies the number of minutes before the session end time as to when to close out all positions. A negative setting disables the end of day exit. |
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the session end time. A negative
setting uses the calendar date for the end of a new session. The format
is in military charting time without the colon, e.g. 1:00pm would be
entered as 1300.
|
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
|
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy Ultimate Divergence Machine Complete Strategy enters long with bullish divergence
and it enters short with bearish divergence. Divergence can be detected as
follows:
Divergence between price and any specified oscillator
Divergence between 2 different price series
Divergence between 2 specified oscillators
Divergence can be specified as regular divergence, opposite divergence or
reverse divergence.
This strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their
individual minimum profit threshold. For example, stop 1 can be set as an
initial protective stop, stop 2 can be set as a breakeven or lock in profit stop
once a certain position profit is reached and stop 3 can be set as a trailing
stop once a certain position profit is reached. Each stop has the option of
exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares for
scaling out at various profit targets.
End of day exit.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entries:
LongShortEntry |
A negative setting allows for short entries only, a setting of 0 allows for long and short entries and a positive setting allows for long entries only. |
NumberEntries |
Specifies the number of shares/contracts to enter at the initial entry |
NumberAddOns |
Specifies the number of shares/contracts to add-on to the existing position when there is new divergence into the same direction as the currently held position |
Reverse |
With a setting of 1, the strategy reverses positions when an opposite divergence signals is detected. A setting of 0 disables this feature. |
Divergence Exits:
LongShortExit |
A negative setting allows for short exits only when there is bullish divergence. A setting of 0 allows for long exits when there is bearish divergence and short exits when there is bullish divergence. A positive setting allows for long exits only when there is bearish divergence. |
ExitPercent |
Specifies the percent contracts/shares to exit when there is divergence into the opposite direction of the currently held position. |
OrderType:
BarClose |
A setting of 0 generates a market order at the bar close to be filled at the open of the next bar and a setting of 1 generates a market order at the bar close to be filled at the bar close. |
Specified Price and Oscillators:
BearPrice_SpecPrice |
Specifies the price to be used for bearish divergence. This can be specified as high in order to look for bearish divergence between price highs and the specified oscillator or it can be specified as an oscillator function to be pasted in from the EasyLanguage dictionary for bearish divergence between this oscillator and the second oscillator. In order to utilize this input the predefined bearish price type in the input BearPrice_PriceType needs to be set to 0. |
BullPrice_SpecPrice |
Specifies the price to be used for bullish divergence. This can be specified as low in order to look for bullish divergence between price lows and the specified oscillator or it can be specified as an oscillator function to be pasted in from the EasyLanguage dictionary for bullish divergence between this oscillator and the second oscillator. In order to utilize this input the predefined bullish price type in the input BullPrice_PriceType needs to be set to 0. |
BearOsc_SpecPrice |
Specifies the oscillator to be used for bearish divergence. This can be specified as an oscillator function to be pasted in from the EasyLanguage dictionary or as a second data series price data such as high of data(2). In order to utilize this input the predefined bearish oscillator type in the input BearOsc_PriceType needs to be set to 0. |
BullPrice_SpecPrice |
Specifies the oscillator to be used for bullish divergence. This can be specified as an oscillator function to be pasted in from the EasyLanguage dictionary or as a second data series price data such as low of data(2). In order to utilize this input the predefined bullish oscillator type in the input BullOsc_PriceType needs to be set to 0. |
Predefined Price and Oscillators:
Bearish Price:
BearPrice_PriceType |
Specifies the predefined price to be used for bearish divergence. A setting of 0 uses price as specified with the input BearPrice_SpecPrice, a setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks, a setting of -8 uses downticks, a setting of 1 uses the Stochastic FastK, a setting of 2 uses the Stochastic FastD, a setting of 3 uses the Stochastic SlowK, a setting of 4 uses the Stochastic SlowD, a setting of 5 uses the RSI, a setting of 6 uses the MACD and a setting of 7 uses the CCI. |
BearPrice_DataSeriesNum |
Specifies the data series number to be used for the predefined price types -1 through -8 as specified with the input BearPrice_PriceType. |
BearPrice_OscPrice |
Specifies the price to be used for the predefined oscillator types 5 through 7 as specified with the input BearPrice_PriceType. |
BearPrice_OscLength1 |
Specifies the first length for the predefined oscillator types 1 through 7 as specified with the input BearPrice_PriceType. Please see length examples below. |
BearPrice_OscLength2 |
Specifies the second length for the predefined oscillator types 1 through 7 as specified with the input BearPrice_PriceType. Please see length examples below. |
BearPrice_OscLength3 |
Specifies the third length for the predefined oscillator types 1 through 7 as specified with the input BearPrice_PriceType. Please see length examples below. |
BearPrice_AvgLength |
Specifies the average length for the predefined oscillator types 1 through 7 as specified with the input BearPrice_PriceType. Please see length examples below. |
BearPrice_AvgType |
Specifies the average type for the predefined oscillator types 1 through 7 as specified with the input BearPrice_PriceType. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average. |
Bullish Price:
BullPrice_PriceType |
Specifies the predefined price to be used for bullish divergence. A setting of 0 uses price as specified with the input BullPrice_SpecPrice, a setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks, a setting of -8 uses downticks, a setting of 1 uses the Stochastic FastK, a setting of 2 uses the Stochastic FastD, a setting of 3 uses the Stochastic SlowK, a setting of 4 uses the Stochastic SlowD, a setting of 5 uses the RSI, a setting of 6 uses the MACD and a setting of 7 uses the CCI. |
BullPrice_DataSeriesNum |
Specifies the data series number to be used for the predefined price types -1 through -8 as specified with the input BullPrice_SpecPrice. |
BullPrice_OscPrice |
Specifies the price to be used for the predefined oscillator types 5 through 7 as specified with the input BullPrice_SpecPricee. |
BullPrice_OscLength1 |
Specifies the first length for the predefined oscillator types 1 through 7 as specified with the input BullPrice_SpecPrice. Please see length examples below. |
BullPrice_OscLength2 |
Specifies the second length for the predefined oscillator types 1 through 7 as specified with the input BullPrice_SpecPrice. Please see length examples below. |
BullPrice_OscLength3 |
Specifies the third length for the predefined oscillator types 1 through 7 as specified with the input BullPrice_SpecPrice. Please see length examples below. |
BullPrice_AvgLength |
Specifies the average length for the predefined oscillator types 1 through 7 as specified with the input BullPrice_SpecPrice. Please see length examples below. |
BullPrice_AvgType |
Specifies the average type for the predefined oscillator types 1 through 7 as specified with the input BullPrice_SpecPrice. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average. |
Bearish Oscillator:
BearOsc_PriceType |
Specifies the predefined oscillator to be used for bearish divergence. A setting of 0 uses the oscillator as specified with the input BearOsc_SpecPrice, a setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks, a setting of -8 uses downticks, a setting of 1 uses the Stochastic FastK, a setting of 2 uses the Stochastic FastD, a setting of 3 uses the Stochastic SlowK, a setting of 4 uses the Stochastic SlowD, a setting of 5 uses the RSI, a setting of 6 uses the MACD and a setting of 7 uses the CCI. |
BearOsc_DataSeriesNum |
Specifies the data series number to be used for the predefined price types -1 through -8 as specified with the input BearOsc_PriceType. |
BearOsc_OscPrice |
Specifies the price to be used for the predefined oscillator types 5 through 7 as specified with the input BearOsc_PriceType. |
BearOsc_OscLength1 |
Specifies the first length for the predefined oscillator types 1 through 7 as specified with the input BearOsc_PriceType. Please see length examples below. |
BearOsc_OscLength2 |
Specifies the second length for the predefined oscillator types 1 through 7 as specified with the input BearOsc_PriceType. Please see length examples below. |
BearOsc_OscLength3 |
Specifies the third length for the predefined oscillator types 1 through 7 as specified with the input BearOsc_PriceType. Please see length examples below. |
BearOsc_AvgLength |
Specifies the average length for the predefined oscillator types 1 through 7 as specified with the input BearOsc_PriceType. Please see length examples below. |
BearOsc_AvgType |
Specifies the average type for the predefined oscillator types 1 through 7 as specified with the input BearOsc_PriceType. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average. |
Bullish Oscillator:
BullOsc_PriceType |
Specifies the predefined oscillator to be used for bullish divergence. A setting of 0 uses the oscillator as specified with the input BullOsc_SpecPrice, a setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks, a setting of -8 uses downticks, a setting of 1 uses the Stochastic FastK, a setting of 2 uses the Stochastic FastD, a setting of 3 uses the Stochastic SlowK, a setting of 4 uses the Stochastic SlowD, a setting of 5 uses the RSI, a setting of 6 uses the MACD and a setting of 7 uses the CCI. |
BullOsc_DataSeriesNum |
Specifies the data series number to be used for the predefined price types -1 through -8 as specified with the input BullOsc_SpecPrice. |
BullOsc_OscPrice |
Specifies the price to be used for the predefined oscillator types 5 through 7 as specified with the input BullOsc_SpecPricee. |
BullOsc_OscLength1 |
Specifies the first length for the predefined oscillator types 1 through 7 as specified with the input BullOsc_SpecPrice. Please see length examples below. |
BullOsc_OscLength2 |
Specifies the second length for the predefined oscillator types 1 through 7 as specified with the input BullOsc_SpecPrice. Please see length examples below. |
BullOsc_OscLength3 |
Specifies the third length for the predefined oscillator types 1 through 7 as specified with the input BullOsc_SpecPrice. Please see length examples below. |
BullOsc_AvgLength |
Specifies the average length for the predefined oscillator types 1 through 7 as specified with the input BullOsc_SpecPrice. Please see length examples below. |
BullOsc_AvgType |
Specifies the average type for the predefined oscillator types 1 through 7 as specified with the input BullOsc_SpecPrice. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average. |
Stochastic Slow: StochLength (14), SmoothingLength1 (3), SmoothingLength2 (3)
Length1=14, Length2=3, Length3 =3,
Price Type 1 uses FastK, Price Type 2 uses FastD, Price Type 3 uses SlowK, Price Type 4 uses SlowD
Price Type 5:
RSI: Length (14)
Length1=14
Price Type 6:
MACD: FastLength (12), SlowLength (26), MACDLength (9)
Length1=12, Length2=26, AvgLength=0 or AvgType=0 uses MACD
AvgLength=9, AvgType=2 (exponential) uses MACD average
Price Type 7:
CCI: CCILength (14), CCIAvgLength (9)
Length1=14, AvgLength=0 or AvgType=0 uses CCI
Length1=14, AvgLength=9, AvgType=1 uses CCI average
Divergence:
ReverseDivergence |
A setting of false uses regular divergence as defined as follows: Bearish Divergence: Higher prices and lower oscillator - Bullish Divergence: Lower prices and higher oscillator A setting of true uses reverse divergence as defined as follows: Bearish Divergence: Lower prices and higher oscillator - Bullish Divergence: Higher prices and lower oscillator |
MinimumBars |
Specifies the minimum number of required bars in between 2 price pivots. |
MaximumBars |
Specifies the maximum number of allowed bars in between 2 price pivots, whereas a setting of 0 disables this requirement. |
MaximumPivotsBack |
Specifies the maximum number of price pivots for the indicator to look back for divergence. |
MinBearPriceDifference |
Specifies the minimum required point/dollar price difference between two bearish price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot has to be at least 1 point higher from the first price pivot in order to qualify for bearish divergence and with a setting of -1, the second price pivot can be as much as 1 point lower than the first price pivot in order to still qualify for bearish divergence. |
MinBullPriceDifference |
Specifies the minimum required point/dollar price difference between two bullish price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot has to be at least 1 point lower from the first price pivot in order to qualify for bullish divergence and with a setting of -1, the second price pivot can be as much as 1 point higher than the first price pivot in order to still qualify for bullish divergence. |
PivotLeftStrength |
Specifies the minimum required number of bars with lower lows to the left of a pivot high or the minimum required number of bars with higher highs to the left of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotRightStrength |
Specifies the minimum required number of bars with lower lows to the right of a pivot high or the minimum required number of bars with higher highs to the right of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotMaxEqualBars |
Specifies the maximum number of allowed bars with equal higher highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
PivotUnEqualBars |
Specifies the maximum number of allowed bars with lower highs in between 2 equal highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with higher lows in between 2 equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
MinimumBearOscHook |
Specifies the minimum oscillator hook that is required to look for bearish divergence, whereas with a setting of 0 the oscillator needs to be hooking down by more than just 0. A bearish hook always creates a peak and the minimum hook distance is specified in the value difference between the peak value and the oscillator value as it slopes down. Once a down hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price as specified with the input BearPrice and the current oscillator value with previous pivots and their oscillator values. |
MinimumBullOscHook |
Specifies the minimum oscillator hook that is required to look for bullish divergence, whereas with a setting of 0 the oscillator needs to be hooking up by more than just 0. A bullish hook always creates a trough and the minimum hook distance is specified in the value difference between the trough value and the oscillator value as it slopes up. Once an up hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price as specified with the input BullPrice and the current oscillator value with previous pivots and their oscillator values. |
BearOscLeadingBars |
Specifies the maximum number of bars that the bearish oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting bearish divergence. |
BearOscLaggingBars |
Specifies the maximum number of bars that the bearish oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting bearish divergence. |
BullOscLeadingBars |
Specifies the maximum number of bars that the bullish oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting bullish divergence. |
BullOscLaggingBars |
Specifies the maximum number of bars that the bullish oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting bullish divergence. |
OppositeBearOscillator |
A setting of true uses opposite bearish divergence as defined as follows: Regular opposite bearish divergence: Higher prices and higher oscillator Reverse opposite bearish divergence: Lower prices and lower oscillator |
OppositeBullOscillator |
A setting of true uses opposite bullish divergence as defined as follows: Regular opposite bullish divergence: Lower prices and lower oscillator Reverse opposite bullish divergence: Higher prices and higher oscillator |
UseBearPrceThresh1 |
Enables/disables the requirement of the first bearish price pivot to be beyond a threshold as specified with the input BearishPriceThreshold1. |
UseBearPrceThresh2 |
Enables/disables the requirement of the second bearish price pivot to be beyond a threshold as specified with the input BearishPriceThreshold2. |
UseBullPrceThresh1 |
Enables/disables the requirement of the first bullish price pivot to be beyond a threshold as specified with the input BullishPriceThreshold1. |
UseBullPrceThresh2 |
Enables/disables the requirement of the second bullish price pivot to be beyond a threshold as specified with the input BullishPriceThreshold2. |
BearishPriceThreshold1 |
Specifies the threshold for the first bearish oscillator pivot. |
BearishPriceThreshold2 |
Specifies the threshold for the second bearish oscillator pivot. |
BullishPriceThreshold1 |
Specifies the threshold for the first bullish oscillator pivot. |
BullishPriceThreshold2 |
Specifies the threshold for the second bullish oscillator pivot. |
UseBearThreshold1 |
Enables/disables the requirement of the first bearish oscillator pivot to be beyond a threshold as specified with the input BearishThreshold1. |
UseBearThreshold2 |
Enables/disables the requirement of the second bearish oscillator pivot to be beyond a threshold as specified with the input BearishThreshold2. |
UseBullThreshold1 |
Enables/disables the requirement of the first bullish oscillator pivot to be beyond a threshold as specified with the input BullishThreshold1. |
UseBullThreshold2 |
Enables/disables the requirement of the second bullish oscillator pivot to be beyond a threshold as specified with the input BullishThreshold2. |
BearishThreshold1 |
Specifies the threshold for the first bearish oscillator pivot. |
BearishThreshold2 |
Specifies the threshold for the second bearish oscillator pivot. |
BullishThreshold1 |
Specifies the threshold for the first bullish oscillator pivot. |
BullishThreshold2 |
Specifies the threshold for the second bullish oscillator pivot. |
MinBearOscDivergence |
Specifies the minimum required bearish oscillator value difference between two bearish oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second bearish oscillator price still exceeds the first bearish oscillator pivot by this specified distance. For example, if the bearish oscillator is a Stochastic and with a setting of 10, the second bearish oscillator pivot has to be lower by at least 10 from the first bearish oscillator pivot in order to qualify for bearish divergence and with a setting of -10, the second bearish oscillator pivot can still be higher than 10 points from the first bearish oscillator pivot in order to still qualify for bearish divergence. |
MinBullOscDivergence |
Specifies the minimum required bullish oscillator value difference between two bullish oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second bullish oscillator price is still lower than first bullish oscillator pivot by this specified distance. For example, if the bullish oscillator is a Stochastic and with a setting of 10, the second bullish oscillator pivot has to be higher by at least 10 from the first bullish oscillator pivot in order to qualify for bullish divergence and with a setting of -10, the second bullish oscillator pivot can still be lower than 10 points from the first bullish oscillator pivot in order to still qualify for bearish divergence. |
TestForBearOscPeakTrough |
With a setting of true, the first bearish oscillator pivot has to be the highest pivot for regular bearish divergence and the first bearish oscillator pivot has to be the lowest pivot for regular opposite bearish divergence. This avoids detecting bearish divergence if there is a higher bearish oscillator pivot in between two oscillator pivots. |
TestForBullOscPeakTrough |
With a setting of true, the first bullish oscillator pivot has to be the lowest pivot for regular bullish divergence and the first bullish oscillator pivot has to be the highest pivot for regular opposite bullish divergence. This avoids detecting bullish divergence if there is a lower bullish oscillator pivot in between the two oscillator pivots. |
Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Fixed Point Distance Profit Targets: | |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
Dynamic Market Range Profit Targets: | |
Target1Length |
Specifies the numbers of bars to look back for the current market range for calculating the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Length |
Specifies the numbers of bars to look back for the current market range for calculating the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Length |
Specifies the numbers of bars to look back for the current market range for calculating the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
Target1Percent |
Specifies the current market range percent to use as a distance for placing the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. In order to utilize this profit target, Target1Distance needs to be set to 0. |
Target2Percent |
Specifies the current market range percent to use as a distance for placing the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. In order to utilize this profit target, Target2Distance needs to be set to 0. |
Target3Percent |
Specifies the current market range percent to use as a distance for placing the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. In order to utilize this profit target, Target3Distance needs to be set to 0. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
End Of Day Exit:
MinutesBeforeEndTime |
Specifies the number of minutes before the session end time as to when to close out all positions. A negative setting disables the end of day exit. |
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the session end time. A negative
setting uses the calendar date for the end of a new session. The format
is in military charting time without the colon, e.g. 1:00pm would be
entered as 1300.
|
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
|
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy Universal Divergence strategy enters long with bullish divergence
and it enters short with bearish divergence. Divergence can be detected as
follows:
Divergence between price and any specified oscillator
Divergence between 2 different price series
Divergence between 2 specified oscillators
Divergence can be specified as regular divergence, opposite divergence or
reverse divergence.
This strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their
individual minimum profit threshold. For example, stop 1 can be set as an
initial protective stop, stop 2 can be set as a breakeven or lock in profit stop
once a certain position profit is reached and stop 3 can be set as a trailing
stop once a certain position profit is reached. Each stop has the option of
exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares for
scaling out at various profit targets.
End of day exit.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entries:
LongShortEntry |
A negative setting allows for short entries only, a setting of 0 allows for long and short entries and a positive setting allows for long entries only. |
NumberEntries |
Specifies the number of shares/contracts to enter at the initial entry |
NumberAddOn |
Specifies the number of shares/contracts to add-on to the existing position when there is new divergence into the same direction as the currently held position |
OrderType:
BarClose |
A setting of 0 generates a market order at the bar close to be filled at the open of the next bar and a setting of 1 generates a market order at the bar close to be filled at the bar close. |
Divergence:
ReverseDivergence |
A setting of false uses regular divergence as defined as follows: Bearish Divergence: Higher prices and lower oscillator - Bullish Divergence: Lower prices and higher oscillator A setting of true uses reverse divergence as defined as follows: Bearish Divergence: Lower prices and higher oscillator - Bullish Divergence: Higher prices and lower oscillator |
MinimumBars |
Specifies the minimum number of required bars in between 2 price pivots. |
MaximumBars |
Specifies the maximum number of allowed bars in between 2 price pivots, whereas a setting of 0 disables this requirement. |
MaximumPivotsBack |
Specifies the maximum number of price pivots for the indicator to look back for divergence. |
BearPrice |
Specifies the price to be used for bearish divergence. This can be specified as high in order to look for bearish divergence between price highs and an oscillator as specified with the input BearOsc or it can be specified as an oscillator function to be pasted in from the EasyLanguage dictionary for bearish divergence between this oscillator and a second oscillator as specified with the input BearOsc. |
BullPrice |
Specifies the price to be used for bullish divergence. This can be specified as low in order to look for bearish divergence between price lows and an oscillator as specified with the input BullOsc or it can be specified as an oscillator function to be pasted in from the EasyLanguage dictionary for bullish divergence between this oscillator and a second oscillator as specified with the input BullOsc. |
MinBearPriceDifference |
Specifies the minimum required point/dollar price difference between two bearish price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot has to be at least 1 point higher from the first price pivot in order to qualify for bearish divergence and with a setting of -1, the second price pivot can be as much as 1 point lower than the first price pivot in order to still qualify for bearish divergence. |
MinBullPriceDifference |
Specifies the minimum required point/dollar price difference between two bullish price pivots. This can also be a negative value in order to qualify for divergence even if the second price pivot is shy by this specified distance from the first price pivot. For example, with a setting of 1, the second price pivot has to be at least 1 point lower from the first price pivot in order to qualify for bullish divergence and with a setting of -1, the second price pivot can be as much as 1 point higher than the first price pivot in order to still qualify for bullish divergence. |
PivotLeftStrength |
Specifies the minimum required number of bars with lower lows to the left of a pivot high or the minimum required number of bars with higher highs to the left of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotRightStrength |
Specifies the minimum required number of bars with lower lows to the right of a pivot high or the minimum required number of bars with higher highs to the right of a pivot low in order to qualify as a previous pivot to compare for divergence. The current price for detecting divergence does not need to be an actual pivot. |
PivotMaxEqualBars |
Specifies the maximum number of allowed bars with equal higher highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
PivotUnEqualBars |
Specifies the maximum number of allowed bars with lower highs in between 2 equal highs in order to still qualify as one previous pivot high to compare for divergence or the maximum number of allowed bars with higher lows in between 2 equal lows in order to still qualify as one previous pivot low to compare for divergence The current price for detecting divergence does not need to be an actual pivot. |
BearOsc |
Specifies the oscillator to be used for bearish divergence. This can be specified an oscillator function to be pasted in from the EasyLanguage dictionary or a second data series price data such as high of data(2). |
BullOsc |
Specifies the oscillator to be used for bullish divergence. This can be specified an oscillator function to be pasted in from the EasyLanguage dictionary or a second data series price data such as low of data(2). |
MinimumBearOscHook |
Specifies the minimum oscillator hook that is required to look for bearish divergence, whereas with a setting of 0 the oscillator needs to be hooking down by more than just 0. A bearish hook always creates a peak and the minimum hook distance is specified in the value difference between the peak value and the oscillator value as it slopes down. Once a down hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price as specified with the input BearPrice and the current oscillator value with previous pivots and their oscillator values. |
MinimumBullOscHook |
Specifies the minimum oscillator hook that is required to look for bullish divergence, whereas with a setting of 0 the oscillator needs to be hooking up by more than just 0. A bullish hook always creates a trough and the minimum hook distance is specified in the value difference between the trough value and the oscillator value as it slopes up. Once an up hook is formed, the indicator looks for divergence back to previous pivots. With a negative setting, the oscillator does not need to hook and the indicator constantly compares price as specified with the input BullPrice and the current oscillator value with previous pivots and their oscillator values. |
BearOscLeadingBars |
Specifies the maximum number of bars that the bearish oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting bearish divergence. |
BearOscLaggingBars |
Specifies the maximum number of bars that the bearish oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting bearish divergence. |
BullOscLeadingBars |
Specifies the maximum number of bars that the bullish oscillator is expected to form a pivot before price does in order to find the corresponding price/oscillator pivots for detecting bullish divergence. |
BullOscLaggingBars |
Specifies the maximum number of bars that the bullish oscillator is expected to form a pivot after price does in order to find the corresponding price/oscillator pivots for detecting bullish divergence. |
OppositeBearishOscillator |
A setting of true uses opposite bearish divergence as defined as follows: Regular opposite bearish divergence: Higher prices and higher oscillator Reverse opposite bearish divergence: Lower prices and lower oscillator |
OppositeBullishOscillator |
A setting of true uses opposite bullish divergence as defined as follows: Regular opposite bullish divergence: Lower prices and lower oscillator Reverse opposite bullish divergence: Higher prices and higher oscillator |
UseBearishThreshold1 |
Enables/disables the requirement of the first bearish oscillator pivot to be beyond a threshold as specified with the input BearishThreshold1. |
UseBearishThreshold2 |
Enables/disables the requirement of the second bearish oscillator pivot to be beyond a threshold as specified with the input BearishThreshold2. |
UseBullishThreshold1 |
Enables/disables the requirement of the first bullish oscillator pivot to be beyond a threshold as specified with the input BullishThreshold1. |
UseBullishThreshold2 |
Enables/disables the requirement of the second bullish oscillator pivot to be beyond a threshold as specified with the input BullishThreshold2. |
BearishThreshold1 |
Specifies the threshold for the first bearish oscillator pivot. |
BearishThreshold2 |
Specifies the threshold for the second bearish oscillator pivot. |
BullishThreshold1 |
Specifies the threshold for the first bullish oscillator pivot. |
BullishThreshold2 |
Specifies the threshold for the second bullish oscillator pivot. |
MinBearOscDivergence |
Specifies the minimum required bearish oscillator value difference between two bearish oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second bearish oscillator price still exceeds the first bearish oscillator pivot by this specified distance. For example, if the bearish oscillator is a Stochastic and with a setting of 10, the second bearish oscillator pivot has to be lower by at least 10 from the first bearish oscillator pivot in order to qualify for bearish divergence and with a setting of -10, the second bearish oscillator pivot can still be higher than 10 points from the first bearish oscillator pivot in order to still qualify for bearish divergence. |
MinBullOscDivergence |
Specifies the minimum required bullish oscillator value difference between two bullish oscillator pivots. This can also be a negative value in order to qualify for divergence even if the second bullish oscillator price is still lower than first bullish oscillator pivot by this specified distance. For example, if the bullish oscillator is a Stochastic and with a setting of 10, the second bullish oscillator pivot has to be higher by at least 10 from the first bullish oscillator pivot in order to qualify for bullish divergence and with a setting of -10, the second bullish oscillator pivot can still be lower than 10 points from the first bullish oscillator pivot in order to still qualify for bearish divergence. |
TestForBearOscPeakTrough |
With a setting of true, the first bearish oscillator pivot has to be the highest pivot for regular bearish divergence and the first bearish oscillator pivot has to be the lowest pivot for regular opposite bearish divergence. This avoids detecting bearish divergence if there is a higher bearish oscillator pivot in between two oscillator pivots. |
TestForBullOscPeakTrough |
With a setting of true, the first bullish oscillator pivot has to be the lowest pivot for regular bullish divergence and the first bullish oscillator pivot has to be the highest pivot for regular opposite bullish divergence. This avoids detecting bullish divergence if there is a lower bullish oscillator pivot in between the two oscillator pivots. |
Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
Divergence Exits:
LongShortExit |
A negative setting allows for short exits only when there is bullish divergence. A setting of 0 allows for long exits when there is bearish divergence and short exits when there is bullish divergence. A positive setting allows for long exits only when there is bearish divergence. |
ExitPercent |
Specifies the percent contracts/shares to exit when there is divergence into the opposite direction of the currently held position. |
End Of Day Exit:
MinutesBeforeEndTime |
Specifies the number of minutes before the session end time as to when to close out all positions. A negative setting disables the end of day exit. |
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the session end time. A negative
setting uses the calendar date for the end of a new session. The format
is in military charting time without the colon, e.g. 1:00pm would be
entered as 1300.
|
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
|
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy Custom Divergence Entry/Exit Strategies consist of the AlchemyCustDivBuy long entry signal, the AlchemyCustDivLongX long exit signal, the AlchemyCustDivSell short entry signal and the AlchemyCustomDivShrtX short exit signal.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all strategies:
Osc |
Specifies the indicator to be used for divergence calculation. |
DivFact |
This user-defined input adjusts the divergence sensitivity. A smaller number increases the signals divergence sensitivity, therefore, displaying divergence for smaller pivots. A larger number decreases the indicators divergence sensitivity, therefore, displaying divergence for stronger pivots. |
ReverseDiv |
With this input set to true, the strategy looks for reverse divergence instead of regular divergence. |
OVBOVS |
The Alchemy Custom Divergence strategies look for bearish divergence when the indicator as specified with the input Osc is in overbought territory as determined by the OverB input and they look for bullish divergence when the indicator as specified with the input Osc is in oversold territory as determined by the OverS input. This input enables or disables these overbought/oversold zones restrictions. |
OverS |
The Alchemy Custom Divergence strategies look for bullish divergence when the indicator as specified with the input Osc is in oversold territory as determined by this input. |
OverB |
The Alchemy Custom Divergence strategies look for bearish divergence when the indicator as specified with the input Osc is in overbought territory as determined by this input. |
Cycles |
When the Alchemy Custom Divergence strategies find bearish divergence in overbought territory, the strategies require for the indicator as specified with the input Osc to cycle back down into oversold territory as determined by the OverSCyc input, in order to qualify for the next bearish divergence in overbought territory. When the Alchemy Divergence strategies find bullish divergence in oversold territory, the strategies require for the indicator as specified with the input Osc to cycle back up into overbought territory as determined by the OverBCyc input, in order to qualify for the next bullish divergence in oversold territory. This input enables or disables these overbought/oversold cycle restrictions. |
OBCY |
When the Alchemy Custom Divergence strategies find bullish divergence in oversold territory, the strategies require for the indicator as specified with the input Osc to cycle back up into overbought territory as determined by this input, in order to qualify for the next bullish divergence in oversold territory. |
OSCY |
When the Alchemy Custom Divergence strategies find bearish divergence in overbought territory, the strategies require for the indicator as specified with the input Osc to cycle back down to oversold territory as determined by this input, in order to qualify for the next bearish divergence in overbought territory. |
MinPos |
The Alchemy Custom Divergence strategies look for bearish divergence when the indicator as specified with the input Osc reaches a minimum positive value as determined by this input. A negative setting disables this input. |
MinNeg |
The Alchemy Custom Divergence strategies look for bullish divergence when the indicator as specified with the input Osc reaches a minimum negative value as determined by this input. A negative setting disables this input. |
Occur |
Specifies the number of the most recent occurrence for looking at price pivots back, whereas 1 looks for the most recent price pivot, 2 looks for the second most recent price pivot and so fourth. |
MaxSwg |
Specifies the maximum number of swings stored. |
Strength |
Specifies the pivot strength of each swing |
MaxLength |
Specifies the maximum number of swings back over which the signals look for divergence. |
The Alchemy Custom Hook Divergence Entry/Exit Strategies consist of the AlchemyCustHookDivLE long entry strategy, the AlchemyCustHookDivLX long exit strategy, the AlchemyCustHookDivSE short entry strategy and the AlchemyCustomHookDivSX short exit strategy.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all strategies:
Indicator Inputs:
DataSer |
With this input, the strategies can look for divergence between data series 1 and any other data series applied on the same chart. This input specifies the data series number to use for divergence calculation. For example, with a setting of 2, the strategies look for divergence between data series 1 and data series 2. With a setting of 1, the strategies detect divergence between price and the indicator specified in the input Oscillator. |
Use_Close |
This input works in conjunction with DataSer set higher than 1. With Use_Close set to true, pivot highs and pivot lows of the second data series are based on the closing price, whereas with Use_Close set to false, pivot highs of the second data series are based on the high of the bar and pivot lows of the second data series are based on the low of the bar. |
PriceHigh |
Specifies the price to be used for bearish divergence. Please note that when looking for divergence between two oscillators, the function of the first oscillator can be pasted into this input. |
PriceLow |
Specifies the price to be used for bullish divergence. Please note that when looking for divergence between two oscillators, the function of the first oscillator can be pasted into this input. |
Oscillator |
Specifies the indicator to be used for divergence and any available function in the dictionary can be pasted into this input. |
MinHook |
This user-defined input adjusts the minimum slope distance requirement for a hook of the specified indicator. |
OverBought |
Enables/disables the overbought requirement in which to look for bearish divergence. |
OverBoughtZone |
Specifies a minimum required specified indicator overbought value in which to look for bearish divergence. |
OverSold |
Enables/disables the oversold requirement in which to look for bullish divergence. |
OverSoldZone |
Specifies a minimum required specified indicator oversold value in which to look for bullish divergence. |
Divergence Inputs:
DivPrDi |
This user-defined input adjusts the minimum required distance for a double top/bottom. A negative number allows for the divergence price high/low to be shy of the previous price high/low by number of points. A positive number requires for the divergence price high/low to have penetrated the previous price high/low by number of points. |
DivOscDi |
This user-defined input adjusts the minimum required distance for the specified indicator to be higher than the previous specified indicator to qualify for bullish divergence and the minimum required distance for the specified indicator to be lower than the previous specified indicator to qualify for bearish divergence. |
OscLagLen |
This user-defined input adjusts the maximum number of bars for the specified indicator hook to lag price. |
MaxPivBack |
This user-defined input adjusts the maximum number of the specified indicator hook pivots to look back for divergence. |
MinDivLen |
This user-defined input adjusts the minimum number of bars between the previous high/low and the divergent high/low |
MaxDivLen |
This user-defined input adjusts the maximum number of bars between the previous high/low and the divergent high/low. A setting of 0 disables a maximum number of bars requirement. |
NewDailyDivg |
With a setting of 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. A setting of 0 disables this requirement. This input is ignored on daily, weekly and monthly charts. |
SessStartT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session start time. This input is ignored on daily, weekly and monthly charts. |
SessEndT |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session end time. This input is ignored on daily, weekly and monthly charts. |
SessXDayOfWeek |
With the input NewDailyDivg set to 1, the previous pivot that the divergence is compared to has to occur in the same session as specified with the inputs SessStartT and SessEndT. This input Specifies a certain day of the week to be excluded from a session to be used. 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
The rest of the inputs are advanced inputs and they are not designed to be changed.
The Alchemy Custom Hook Divergence Strategy combines the above entry/exit strategies into one strategy and below are the inputs that are additionally to the inputs already listed above:
BuySell |
A setting of -1 allows short entries only, a setting of 0 allows both, short and long entries and a setting of 1 allows long entries only. |
TradingStartT |
Specifies the earliest allowed entry time. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session start time. This input is ignored on daily, weekly and monthly charts. |
TradingEndT |
Specifies the latest allowed entry time. The time is entered in military charting time without the colon and a negative setting uses the calendar date for the session start time. This input is ignored on daily, weekly and monthly charts. |
LX_SX |
A setting of -1 allows short exits only, a setting of 0 allows both, short and long exits and a setting of 1 allows long exits only. |
To view chart, go to:
User Defined Inputs:
BuySell |
-1: take only short trades; 1: take only long trades; 0: take long and short trades |
BuyNum |
Number of contracts per long entry
|
SellNum |
Number of contracts per short entry |
AddContr |
Maximum number of contracts allowed after initial entry |
MarkToEn |
Distance between market and entry order before order entry is triggered |
SessSEST |
Session start time in ET |
FirstEnt |
Time of first trade in ET |
LastEnt |
Time of last trade in ET |
LastExTi |
Latest exit time in ET |
LastExPr |
If not 0, then exit at given price when exiting at latest time |
MinProf |
Move to next profit objective if less than MinProf |
MaxSwng |
Don't take trade after MaxSwng number of swings |
MinEnSwg |
Swing has to be at least MinEnSwg points |
Same1Dir |
0: reenter same direction; 1: don’t reenter same direction |
InSwg |
Minimum range requirement of the initial swing from which the trend is started |
MinRetr |
Minimum required retracement for each swing |
MinPen |
Amount needed to break the last retracement pivot for a trend change |
MidKeltn |
Fast moving average parameters |
Avg1 |
First trend determining moving average parameters |
Avg2 |
Second trend determining moving average parameters |
ActInStp |
Activate initial stop |
ActPivSt |
Activate pivot stop |
ActTrlSt |
Activate trailing stop |
InStp |
Initial stop points |
AddInS |
Add to initial stop if it falls on half or even |
StopAdd |
Add to half or even for stops |
PivMove |
Move to pivot stop if market moves PivMove points from pivot |
PivMvAdd |
Add to half or even for pivot move |
PivAdd |
Add to half or even for pivot move |
AddPivV |
Add to pivot stop if it falls on half or even |
BEMove |
Move to break even stop if market moves BEMove points from entry |
BEAdd |
Add to break even stop if it falls on half or even |
TrlProf |
Move to trailing stop if market moves TrlProf points from entry |
TrlStop |
Trailing stop points |
ReRtTr |
0: exit at retracement exit if larger than MinProf, else exit at retest exit if larger than MinProf, else trail position; 1: exit at retracement exit; 2: exit at retest exit; 3: trail position |
MaxTarg |
Maximum allowed target |
ActMarkX |
If not 0, then exit at market |
PreProfX |
Exit at preset target |
MissTarg |
If not 0, then exit at market if market misses target by MissTarg points |
MissXLen |
* after MissXLen number of bars since entry |
MaxEnBar |
If not 0, then exit at market if MaxEnBar since entry |
Half |
Half value of symbol traded |
Even |
Even value of symbol traded |
UpHalf |
Upper half value divider for closest exit |
LoHalf |
Lower half value divider for closest exit |
UpEven |
Upper even value divider for closest exit |
LoEven |
Lower even value divider for closest exit |
HiLngEnt |
Closest half value for long entry |
LoLngEnt |
Closest even value for long entry |
UpLngPr |
Upper half value divider for closest long entry |
LoLngPr |
Lower half value divider for closest long entry |
HiShtEnt |
Closest even value for short entry |
LoShtEnt |
Closest half value for short entry |
UpShtPr |
Upper half value divider for closest short entry |
LoShtPr |
Lower half value divider for closest short entry |
The rest of the inputs are advanced inputs and they are not designed to be changed.
To view chart, go to:
User Defined Inputs:
Retrace |
Specifies a fixed retracement percentage between the daily high and the daily low for an entry point. With a setting of 0, the strategy automatically calculates a confluent retracement percentage level based on the MidKeltn, Avg1 and Avg2 settings. |
BuySell |
-1: take only short trades; 1: take only long trades; 0: take long and short trades |
BuyNum |
Number of contracts per long entry
|
SellNum |
Number of contracts per short entry |
MarginRequire Available for TradeStation 9/10 only! |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into this input as well as the MarginRequirePcnt entered into the input below. For example, with a current real time purchasing power of $100,000, a MarginRequire setting of 10000 ($10,000 per contract/share) and a MarginRequirePcnt setting of 50 (50%), the strategy will automatically enter with 5 contracts ($100,000 real time purchasing power divided by $10,000 margin requirement per contracts equals a maximum of 10 contracts. 50% of 10 contracts results in 5 contracts). This feature overwrites the number of contracts/shares entered in the inputs BuyNum and SellNum above. This feature is to be used for real time trading and not for back testing as the TradeManager only returns real time information. With a setting of 0 or if the strategy does not detect a valid TradeStation account, this feature is disabled and the strategy will use a fixed number of contracts/shares based on the inputs BuyNum and SellNum. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
MarginRequirePcnt Available for TradeStation 9/10 only! |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the above input as well as the MarginRequirePcnt entered into this input. For example, with a current real time purchasing power of $100,000, a MarginRequire setting of 10000 ($10,000 per contract/share) and a MarginRequirePcnt setting of 50 (50%), the strategy will automatically enter with 5 contracts ($100,000 real time purchasing power divided by $10,000 margin requirement per contracts equals a maximum of 10 contracts. 50% of 10 contracts results in 5 contracts). This feature overwrites the number of contracts/shares entered in the inputs BuyNum and SellNum above. This feature is to be used for real time trading and not for back testing as the TradeManager only returns real time information. With a setting of 0 or if the strategy does not detect a valid TradeStation account, this feature is disabled and the strategy will use a fixed number of contracts/shares based on the inputs BuyNum and SellNum. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
AddContr |
Maximum number of contracts allowed after initial entry |
MarkToEn |
Distance between market and entry order before order entry is triggered |
SessSEST |
Session start time in ET |
FirstEnt |
Time of first trade in ET |
LastEnt |
Time of last trade in ET |
LastExTi |
Latest exit time in ET |
LastExPr |
If not 0, then exit at given price when exiting at latest time |
MinProf |
Move to next profit objective if less than MinProf |
MinEnSwg |
Swing has to be at least MinEnSwg points |
Same1Dir |
0: reenter same direction; 1: don’t reenter same direction |
HiDay |
High of HiDay days ago |
LoDay |
Low of LoDay days ago |
MidKeltn |
Fast moving average parameters |
Avg1 |
First trend determining moving average parameters |
Avg2 |
Second trend determining moving average parameters |
ActInStp |
Activate initial stop |
ActPivSt |
Activate pivot stop |
ActTrlSt |
Activate trailing stop |
InStp |
Initial stop points |
PivMove |
Move to pivot stop if market moves PivMove points from pivot |
PivAdd |
Add to half or even for pivot move |
BEMove |
Move to break even stop if market moves BEMove points from entry |
BEAdd |
Add to break even stop if it falls on half or even |
TrlProf |
Move to trailing stop if market moves TrlProf points from entry |
TrlStop |
Trailing stop points |
ReRtTr |
0: exit at retracement exit if larger than MinProf, else exit at retest exit if larger than MinProf, else trail position; 1: exit at retracement exit; 2: exit at retest exit; 3: trail position |
MaxTarg |
Maximum allowed target |
ActMarkX |
If not 0, then exit at market |
PreProfX |
Exit at preset target |
MissTarg |
If not 0, then exit at market if market misses target by MissTarg points |
MissXLen |
* after MissXLen number of bars since entry |
MaxEnBar |
If not 0, then exit at market if MaxEnBar since entry |
RetrExit |
Specifies the retracement percentage of the retracement profit exit. For example, for a long exit, if the lowest retracement point is at a price of 1250 with a previous swing high of 1260, a setting of 50 (50%) would exit at the 50% distance between the previous swing high of 1260 and the lowest retracement low of 1250, which would be at 1255 (50% of 10 points). |
RetrAdd |
Specifies the point value to add to the above exit price. |
ReteExit |
Specifies the percentage of the retest profit exit. For example, for a long exit, if the lowest retracement point is at a price of 1250 with a previous swing high of 1260, a setting of 99 (99%) would exit at the 99% distance between the previous swing high of 1260 and the lowest retracement low of 1250, which would be at 1259.90 (99% of 10 points). |
ReteAdd |
Specifies the point value to add to the above exit price. |
The rest of the inputs are advanced inputs and they are not designed to be changed. If you need information about these inputs, please contact us directly.
The strategy AlchemyPivSwgRetrStr is defaulted to enter at a swing retracement percentage specified by the input SwingRet, whereas the strategy AlchemyPivRetrStrat is defaulted to enter either at an initial swing retracement percentage as specified by the input InRet, or at a larger swing retracement percentage as specified by the input SwingRet, or at a confluence number between the larger swing retracement percentage as specified by the input SwingRet and the most recent swing retracement percentage as specified by the input ActRet. Please refer to the input definition for more detail.
To view chart, go to:
User Defined Inputs:
BuySell |
-1: take only short trades; 1: take only long trades; 0: take long and short trades |
BuyNum |
Number of contracts per long entry
|
SellNum |
Number of contracts per short entry |
AddContr |
Maximum number of contracts allowed after initial entry |
MarkToEn |
Distance between market and entry order before order entry is triggered |
SessSEST |
Session start time in ET |
FirstEnt |
Time of first trade in ET |
LastEnt |
Time of last trade in ET |
LastExTi |
Latest exit time in ET |
MinTarg |
If not 0, then don't take trade if minimum target is less than MinTarg |
MinProf |
Move to next profit objective if less than MinProf |
MaxSwng |
Don't take trade after MaxSwng number of swings |
MinEnSwg |
Swing has to be at least MinEnSwg points |
InSwg |
Minimum range requirement of the initial swing from which the trend is started |
MinRetr |
Minimum required retracement for each swing |
MinPen |
Amount needed to break the last retracement pivot for a trend change |
InRet |
Retracement percentage of initial swing for entry |
SwingRet |
Retracement percentage from larger trend swing. With InRet and ActRet set to 0, the strategy will enter at the larger swing retracement only and ignore the most recent swing. |
ActRet |
Retracement percentage of most recent swing |
TrendPivots |
Prohibits long entry below previous retracement pivot low and prohibits short entry above previous retracement pivot high. Ignores previous retracement pivots, if set to false. |
ActRetrEntries |
Allows re-entry into same direction only if a new valid swing has formed. A new swing is formed if the previous retracement meets the following requirements: Up trend: Minimum retracement of MinRetr points and at least NHPivot number of bars since previous swing high was broken. Down trend: Minimum retracement of MinRetr points and at least NLPivot number of bars since previous swing low was broken. If set to false, the strategy will look for a new entry as soon as the previous swing high or swing low is broken. |
ActRetrStp |
Activate retracement stop |
ActInStp |
Activate initial stop |
ActPivSt |
Activate pivot stop |
ActTrlSt |
Activate trailing stop |
StopRetr |
Specifies the stop retracement percentage |
InStp |
Initial stop points |
AddInS |
Add to initial stop if it falls on half or even |
StopAdd |
Add to half or even for stops |
PivMove |
Move to pivot stop if market moves PivMove points from pivot |
PivMvAdd |
Add to half or even for pivot move |
PivAdd |
Add to half or even for pivot move |
AddPivV |
Add to pivot stop if it falls on half or even |
BEMove |
Move to break even stop if market moves BEMove points from entry |
BEAdd |
Add to break even stop if it falls on half or even |
TrlProf |
Move to trailing stop if market moves TrlProf points from entry |
TrlStop |
Trailing stop points |
ReRtTr |
0: exit at retracement exit if larger than MinProf, else exit at retest exit if larger than MinProf, else trail position; 1: exit at retracement exit; 2: exit at retest exit; 3: trail position |
MaxTarg |
Maximum allowed target |
MaxTargXNum |
Number of contracts /shares to exit at maximum target |
ActMarkX |
If not 0, then exit at market |
PreProfX |
Exit at preset target |
Half |
Half value of symbol traded |
Even |
Even value of symbol traded |
UpHalf |
Upper half value divider for closest exit |
LoHalf |
Lower half value divider for closest exit |
UpEven |
Upper even value divider for closest exit |
LoEven |
Lower even value divider for closest exit |
HiLngEnt |
Closest half value for long entry |
LoLngEnt |
Closest even value for long entry |
UpLngPr |
Upper half value divider for closest long entry |
LoLngPr |
Lower half value divider for closest long entry |
HiShtEnt |
Closest even value for short entry |
LoShtEnt |
Closest half value for short entry |
UpShtPr |
Upper half value divider for closest short entry |
LoShtPr |
Lower half value divider for closest short entry |
The rest of the inputs are advanced inputs and they are not designed to be changed.
To view chart, go to:
User Defined Inputs:
BuySell |
-1: take only short trades; 1: take only long trades; 0: take long and short trades |
BuyNum |
Number of contracts per long entry
|
SellNum |
Number of contracts per short entry |
AddContr |
Maximum number of contracts allowed after initial entry |
MarkToEn |
Distance between market and entry order before order entry is triggered |
SessSEST |
Session start time in ET |
FirstEnt |
Time of first trade in ET |
LastEnt |
Time of last trade in ET |
LastExTi |
Latest exit time in ET |
LastExPr |
If not 0, then exit at given price when exiting at latest time |
MinTarg |
If not 0, then don't take trade if minimum target is less than MinTarg |
MinProf |
Move to next profit objective if less than MinProf |
MaxSwng |
Don't take trade after MaxSwng number of swings |
MinEnSwg |
Swing has to be at least MinEnSwg points |
InSwg |
Minimum range requirement of the initial swing from which the trend is started |
MinRetr |
Minimum required retracement for each swing |
MinPen |
Amount needed to break the last retracement pivot for a trend change |
InRet |
Retracement percentage of initial swing for entry |
SwingRet |
Retracement percentage from larger trend swing |
ActRet |
Retracement percentage of most recent swing |
MidKeltn |
Fast moving average parameters |
MKFilter |
1: only take long trades after upside penetration of fast moving average; only take short trades after downside penetration of fast moving average |
Avg1 |
First trend determining moving average parameters |
Avg2 |
Second trend determining moving average parameters |
ActInStp |
Activate initial stop |
ActPivSt |
Activate pivot stop |
ActTrlSt |
Activate trailing stop |
InStp |
Initial stop points |
AddInS |
Add to initial stop if it falls on half or even |
MAStp |
Initial stop for moving average entry |
StopAdd |
Add to half or even for stops |
PivMove |
Move to pivot stop if market moves PivMove points from pivot |
PivMvAdd |
Add to half or even for pivot move |
PivAdd |
Add to half or even for pivot move |
AddPivV |
Add to pivot stop if it falls on half or even |
BEMove |
Move to break even stop if market moves BEMove points from entry |
BEAdd |
Add to break even stop if it falls on half or even |
TrlProf |
Move to trailing stop if market moves TrlProf points from entry |
TrlStop |
Trailing stop points |
ReRtTr |
0: exit at retracement exit if larger than MinProf, else exit at retest exit if larger than MinProf, else trail position; 1: exit at retracement exit; 2: exit at retest exit; 3: trail position |
MaxTarg |
Maximum allowed target |
ActMarkX |
If not 0, then exit at market |
PreProfX |
Exit at preset target |
MissTarg |
If not 0, then exit at market if market misses target by MissTarg points |
MissXLen |
* after MissXLen number of bars since entry |
MaxEnBar |
If not 0, then exit at market if MaxEnBar since entry |
Half |
Half value of symbol traded |
Even |
Even value of symbol traded |
UpHalf |
Upper half value divider for closest exit |
LoHalf |
Lower half value divider for closest exit |
UpEven |
Upper even value divider for closest exit |
LoEven |
Lower even value divider for closest exit |
HiLngEnt |
Closest half value for long entry |
LoLngEnt |
Closest even value for long entry |
UpLngPr |
Upper half value divider for closest long entry |
LoLngPr |
Lower half value divider for closest long entry |
HiShtEnt |
Closest even value for short entry |
LoShtEnt |
Closest half value for short entry |
UpShtPr |
Upper half value divider for closest short entry |
LoShtPr |
Lower half value divider for closest short entry |
The rest of the inputs are advanced inputs and they are not designed to be changed.
The Alchemy FibRetr Strategy contains all 4 strategies, the Alchemy Trend Retrace Strategy, the Alchemy Daily Retrace Strategy, the Alchemy S&P Pivot Retrace Strategy and the Alchemy Pivot Retrace Strategy. For chart setup instructions and inputs definitions, please refer to the above strategies.
The Strong Trend strategy is designed to identify strong trending markets and then locate entry points in that strong trend. This strategy is self-adaptive and responds to market volatility.
A bullish strong trend is defined as price penetrating the upper band of the Alchemy Bands indicator. A bearish strong trend is defined as price penetrating the lower band of the Alchemy Bands indicator. The entry zone is defined as the mid line and lower channel band in a bullish strong trend and the mid line and upper channel band in a bearish strong trend.
To view chart, go to:
http://www.tradingalchemy.com/ViewChartsStrongTrend.htm#strongtrendstrategy
User Defined Inputs:
|
Entries: |
NumEntries |
Number of contracts/shares per entry |
LongEntryPrice |
Specifies the limit entry price as to where to enter at the next bar after an entry signal is generated, whereas a setting of 0 generates a market buy order. |
ShortEntryPrice |
Specifies the limit entry price as to where to enter at the next bar after an entry signal is generated, whereas a setting of 0 generates a market sell short order. |
BreakOutEntry |
With BreakOutEntry enabled, the strategy enters long as soon as the Alchemy Strong Trend paintbar signals a strong up trend by turning cyan. Otherwise it waits for a retracement into the buy zone of the Alchemy Trend Entry indicator. Vice versa, with BreakOutEntry enabled, the strategy enters short as soon as the Alchemy Strong Trend paintbar signals a strong down trend by turning magenta. Otherwise it waits for a retracement into the sell zone of the Alchemy Trend Entry indicator. |
MvgAvgEntry |
Enables/disables moving averages entry filter (true: only allows long entries if fast moving average is above slow moving average; only allows short entries if fast moving average is below slow moving average) |
|
Exits: |
InStopDist |
Initial stop points |
KeltnerStop |
Enable Keltner Stop |
KeltnerStopDist |
Point distance outside Keltner band for Keltner Stop |
MinProf |
Move to next profit objective if less than MinProf |
NumLimitX |
Number of contracts /shares to exit at point target |
LimitX |
Number of points for limit exit |
NumKeltnerX |
Number of contracts /shares to exit at Keltner exit |
KeltnerXDist |
Point distance inside Keltner band for Keltner exit |
MinStop |
Minimum point stop, ignore if 0 |
TrlStopDist |
Trailing stop point distance |
MinTrlProf |
Move to trailing stop if market moves MinTrlProf points from entry |
MvgAvgExit |
Enables/disables moving averages exit (true: exits all short positions if fast moving average is above slow moving average; exits all long positions if fast moving average is below slow moving average) |
EndOfDayX |
End of Day exit time, a negative value disables the end of day exit |
|
Strong Trend Parameters: |
Price |
Price for which the Mid-Keltner is based on |
Length |
Mid-Keltner length |
Factor |
Outside Keltner Band range |
UpPrice |
Price for which the up trend is based on whereas “high” is a more sensitive setting and “low” requires a much stronger up move before an uptrend is detected |
DwnPrice |
Price for which the down trend is based on whereas “low” is a more sensitive setting and “high” requires a much stronger down move before a downtrend is detected. |
MinBars |
Minimum number of bars for a trend confirmation |
Retest |
Specifies the minimum penetration amount of the outside Keltner band for a new trend to set up |
FastAvg |
Specifies the fast moving average used for the moving averages entry filter and moving averages exit |
SlowAvg |
Specifies the slow moving average used for the moving averages entry filter and moving averages exit |
The Alchemy Strong Trend Entry Signals consist of the AlchemyStrTrendBuy long entry strategy and the AlchemyStrTrendSell short entry strategy.
User Defined Inputs:
NumEntries |
Number of contracts/shares per entry |
Price |
Price for which the Mid-Keltner is based on |
Length |
Mid-Keltner length |
Factor |
Outside Keltner Band range |
UpPrice |
Price for which the up trend is based on whereas “high” is a more sensitive setting and “low” requires a much stronger up move before an uptrend is detected. |
DwnPrice |
Price for which the down trend is based on whereas “low” is a more sensitive setting and “high” requires a much stronger down move before a downtrend is detected. |
MinBars |
Minimum number of bars for a trend confirmation |
Retest |
Specifies the minimum penetration amount of the outside Keltner band for a new trend to set up |
StartTme |
Specifies the earliest allowed entry time. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
EndTme |
Specifies the latest allowed entry time. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
The Alchemy TrendCatcher Channel strategy is based on our Alchemy TrendCatcher and Alchemy Channel indicators.
When price touches the mid band of our Alchemy Channel indicator for the first time after a bullish trend change of our Alchemy TrendCatcher indicator, the strategy places a market stop order to buy long above the lowest high of each bar until the buy stop is hit.
Vice versa, when price touches the mid band of our Alchemy Channel indicator for the first time after a bearish trend change of our Alchemy TrendCatcher indicator, the strategy places a market stop order to sell short below the highest low of each bar until the sell stop is hit.
The strategy contains the following exits:
Channel Stop: Long stop at the lower Channel Band and short stop at the upper Channel Band.
TrendCatcher Stop: Long stop and short stop at the TrendCatcher stop line.
Channel Target: Limit long exit at the upper Channel Band and limit short exit at the lower Channel Band.
End of Day exit
User Defined Inputs:
PositionSize |
Specifies the position size in number of shares or contracts. |
EntryAdd |
Specifies the number of cents, ticks or pips to place the entry stop order above the bar high for a long entry and below the bar low for a short entry. |
TradingTime_Start |
Specifies the earliest time of the session to initiate a new position. The format is in military time without the colon, whereas a negative value disables this time of day entry filter as well as the end of day exit. |
TradingTime_End |
Specifies the latest time of the session to initiate a new position. The format is in military time without the colon, whereas a negative value disables this time of day entry filter as well as the end of day exit. |
ExitMinutesAfter |
Specifies the number of minutes after the time as specified with the input TradingTime_End as to when to close out all positions, whereas a negative value disables the end of day exit. |
TC_Stop |
A value of 1 enables the TrendCatcher stop and a value of 0 disables the TrendCatcher stop. |
Ch_Stop |
A value of 1 enables the Channel stop and a value of 0 disables the Channel stop. |
Ch_TargetPercentExit |
Specifies the position size percentage to exit at the Channel profit target, whereas a value of 0 disables this exit |
TC_Length |
Specifies the number of trailing bars to include in the TrendCatcher calculation. |
TC_Factor |
Specifies the TrendCatcher sensitvity factor. For a more long term trend calculation, this factor can be increased and for a more short term trend calculation, this factor can be decreased. |
TC_UseCloseTrail |
Specifies the price to set the trailing distance from. When set to true it uses the close. When set to false, it uses the high in an uptrend and the low in a downtrend. |
TC_UseCloseStop |
Specifies the price to use for changing the trend direction when the trailing stop is penetrated. When set to true it uses the close. When set to false, it uses the low in an uptrend and the high in a downtrend. |
TC_StopAdd |
Specifies the minimum distance in number of cents, ticks or pips by which price has to break through the TrendCatcher trailing stop in order for the trend to change direction. With a setting of 0, the trend changes direction when price touches the trailing stop. |
Confirmation Bar Feature: |
The confirmation bar feature requires a confirmation bar that is followed immediately after a signal bar in order for the trend to change directions, whereas the signal bar is the bar that touches or penetrates the TrendCatcher stop and the confirmation bar is the next bar that touches or penetrates the previous TrendCatcher stop or the signal bar. |
TC_ConfirmBar |
With ConfirmBar set to 1, the low of the next bar (confirmation bar) has to touch or penetrate the previous TrendCatcher stop or the signal bar in order for the TrendCatcher to change direction to the downside and vice versa, the high of the next bar (confirmation bar) has to touch or penetrate the previous TrendCatcher stop or the signal bar in order for the TrendCatcher to change direction to the upside. With ConfirmBar set to 2, the close of the next bar (confirmation bar) has to touch or penetrate the previous TrendCatcher stop or the signal bar in order for the TrendCatcher to change direction. A setting of 0 disables this confirmation feature. |
TC_ConfirmAdd |
This input works in conjunction with the ConfirmBar input above and it specifies the minimum distance in number of cents, ticks or pips by which price has to break through the TrendCatcher trailing stop or the signal bar on the next bar in order for the trend to change direction. With a setting of 0, the trend changes direction when price touches the trailing stop or the signal bar on the next bar. |
TC_ConfirmStop |
This input works in conjunction with the ConfirmBar input above and it specifies the price that needs to be touched or penetrated by the confirmation bar. With ConfirmStop set to 0, the confirmation bar needs to touch or penetrate the previous bar's TrendCatcher stop in order for the TrendCatcher to change directions. With ConfirmStop set to 1, the confirmation bar needs to touch or penetrate the low of the previous bar in order for the TrendCatcher to change direction to the downside and vice versa, the confirmation bar needs to touch or penetrate the high of the previous bar in order for the TrendCatcher to change direction to the upside. With ConfirmBar set to 2, the confirmation bar needs to touch or penetrate the close of the previous bar in order for the TrendCatcher to change direction. |
Ch_Price | Specifies which bar value (price, function, or formula) to average for the Channel lines. |
Ch_Len | Sets the period of time (in bars) over which an average of the Channel lineswill be taken. |
Ch_Width | Sets a multiplier to be used in the calculation of the upper and lower Channel band. |
Ch_MidlinePercent | Specifies the Channel mid lines percent. For example, with a setting of 50, the mid lines are calculated at the half way point between the upper band to the mid line and the mid line to the lower band. |
Ch_UpsidePenetrationPrice | Specifies the price that needs to penetrate the upper Channel Band such as close, low or high. |
Ch_DownsidePenetrationPrice | Specifies the price that needs to penetrate the lower Channel Band such as close, low or high. |
To view chart, go to:
http://www.tradingalchemy.com/ViewChartsTrendCatcher.htm#trendcatcherstrategy
The Alchemy TrendCatcher Complete strategy is based on our Alchemy TrendCatcher indicator and it combines 2 separate trend modules, the Alchemy TrendDirection module and the Alchemy Strong Trend module. This strategy is a powerful trend trading tool that is very easy to use.
The TrendDirection module of this strategy identifies the market trend on 2 separate time frames and uses a logical trailing stop in order to stay with the trend for longer moves. With this TrendDirection, you will never miss a big market move. We've developed a proprietary market trend and volatility calculation that works in any market and on any time frame. This strategy will help you to stay in the right direction of any market move. The Alchemy TrendDirection trailing stop is self-adaptive to the market's current volatility, therefore minimizing the initial risk while staying with the trend.
Additionally, this strategy uses the Alchemy Strong Trend module as a strong trend detector. It signals the strength of a developing trend and increases the reliability of a follow through of a previous reversal or breakout. When a strong trend is detected, the strategy enters at a logical retracement area, which provides a better entry price into the direction of the new trend. This trend confirmation method eliminates a large percentage of whipsaws and filters out a significant amount of noise when the market is in a non-trending, consolidating phase. At the same time, it catches all major market moves.
The Alchemy TrendCatcher Complete strategy is designed to identify strong trending markets and then locate entry points in that strong trend. This strategy uses the Alchemy TrendDirection to identify the overall trend and it uses the Alchemy Strong Trend Entry to enter trades. This strategy has several options for entry methods and for an explanation, please refer to the input "EntryMethod".
User Defined Inputs:
Entry Parameters |
|
NumEntries1 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy TrendCatcher indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries1 specifies the number of contracts/shares to enter at the first entry level as specified by the input EntryPcnt1. With all other entry methods, NumEntries1 specifies the number of contracts/shares per entry. |
NumEntries2 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy TrendCatcher indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries2 specifies the number of contracts/shares to enter at the second entry level as specified by the input EntryPcnt2. With all other entry methods, this input is ignored. |
NumEntries3 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy TrendCatcher indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries3 specifies the number of contracts/shares to enter at the third entry level as specified by the input EntryPcnt3. With all other entry methods, this input is ignored. |
Reverse |
A setting of 1 allows for the strategy to reverse positions from long to short or from short to long if the conditions for a reversal occur. A setting of 0, denies a reversal and the strategy needs to exit all existing position before it can enter a trade into the opposite direction. |
RT_PurchasingPower |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the input MarginRequire as well as the MarginRequirePcnt entered into the input MarginRequirePcnt. This input specifies the reserved word that retrieves the real time purchasing power based on your type of trading account. For futures and forex accounts the reserved word would be GetRTPurchasingPower(GetAccountID). For a complete list of reserved words, you can go to the TradeManager category of the EasyLanguage dictionary. For an example of this application, please refer to the inputs description below. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
MarginRequire |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the above input as well as the MarginRequirePcnt entered into this input. For example, with a current real time purchasing power of $100,000, a MarginRequire setting of 10000 ($10,000 per contract/share) and a MarginRequirePcnt setting of 50 (50%), the strategy will automatically enter with 5 contracts ($100,000 real time purchasing power divided by $10,000 margin requirement per contracts equals a maximum of 10 contracts. 50% of 10 contracts results in 5 contracts). This feature overwrites the number of contracts/shares entered into NumEntries1 only and to utilize this feature, NumEntries2 and NumEntries 3 should be set to 0. This feature is to be used for real time trading and not for back testing as the TradeManager only returns real time information. With a setting of 0 or if the strategy does not detect a valid TradeStation account, this feature is disabled and the strategy will use a fixed number of contracts/shares based on the input NumEntries1. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
MarginRequirePcnt |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the above input as well as the MarginRequirePcnt entered into this input. For example, with a current real time purchasing power of $100,000, a MarginRequire setting of 10000 ($10,000 per contract/share) and a MarginRequirePcnt setting of 50 (50%), the strategy will automatically enter with 5 contracts ($100,000 real time purchasing power divided by $10,000 margin requirement per contracts equals a maximum of 10 contracts. 50% of 10 contracts results in 5 contracts). This feature overwrites the number of contracts/shares entered into NumEntries1 only and to utilize this feature, NumEntries2 and NumEntries 3 should be set to 0. This feature is to be used for real time trading and not for back testing as the TradeManager only returns real time information. With a setting of 0 or if the strategy does not detect a valid TradeStation account, this feature is disabled and the strategy will use a fixed number of contracts/shares based on the input NumEntries1. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
EntryMethod |
Specifies the entry method as follows: A setting of 0 follows the Alchemy TrendDirection and enters long when the Alchemy TrendDirection changes directions from bearish to bullish and it enters short when the Alchemy TrendDirection changes directions from bullish to bearish. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. A setting of 1 follows the Alchemy Strong Trend. With this setting, the strategy enters long when the Alchemy Strong Trend paint bars turn cyan which indicates that the indicator detects a strong up trend. Vice versa, the strategy enters short when the Alchemy Strong Trend paint bars turn magenta which indicates that the indicator detects a strong down trend. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. A setting of 2 follows the Alchemy Strong Trend Entry. With this setting, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy TrendCatcher indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the input EntryPcnt, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. A setting of 3 generates an entry signal when the Alchemy Heikin-Ashi indicator changes trend. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. For more specific entry rules, please refer to the input ha_NumBars_Entry below. |
MarketEntry |
A setting of 1 generates market entry orders and a setting of 0 generates limit entry orders at the closing price of the bar that generates the entry signal. With EntryMethod set to 0 and MarketEntry set to 0, the strategy generates a limit entry order at the last TrendDirection stop price before the reversal breakout. |
UseAvgEntryPrice |
A setting of 1 uses the average entry price for performing all exit calculations and a setting of 0 uses the entry price of the first entry bar for performing all exit calculations. This input is only relevant when NumEntries1, NumEntries2 and NumEntries3 of entry method 2 are being used as otherwise, the entry price and average entry price would be the same. |
EntryAdd |
Specifies the number of ticks to add to the limit entry price for entry method 1 and entry method 2. This input only works in conjunction with limit entry orders when the input MarketEntry is set to 0. As an example for entry method 1, with EntryAdd set to 1 and EntryMethod1_LongEntryLimit set to low, the strategy places a limit buy order 1 tick below the low of the bar that triggers the buy signal. As an example for entry method 2, with EntryAdd set to 1 and EntryPcnt1 set to 0, the strategy places a limit buy order 1 tick above the closest Strong Trend entry dot. |
EntryMethod1_ShortEntryLimit |
This inputs works in conjunction with EntryMethod set to 1 and MarketEntry set to 0. It specifies the price of the short entry limit. For example with EntryMethod1_ShortEntryLimit set to high, the strategy places a limit sell order x number of ticks as specified by the input EntryAdd above the high of the bar that triggers the sell signal, whereas with EntryMethod1_ShortEntryLimit set to close, the strategy places a limit sell order x number of ticks as specified by the input EntryAdd above the close of the bar that triggers the sell signal. |
EntryMethod1_LongEntryLimit |
This inputs works in conjunction with EntryMethod set to 1 and MarketEntry set to 0. It specifies the price of the long entry limit. For example with EntryMethod1_LongEntryLimit set to low, the strategy places a limit buy order x number of ticks as specified by the input EntryAdd below the low of the bar that triggers the buy signal, whereas with EntryMethod1_LongEntryLimit set to close, the strategy places a limit buy order x number of ticks as specified by the input EntryAdd below the close of the bar that triggers the buy signal. |
Entry Filters |
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TrendEntryFilter |
Enables/disables the TrendDirection filter. A setting of 1 only allows long entries if the Alchemy TrendDirection is bullish and it only allows short entries if the Alchemy TrendDirection is bearish. A setting of 0 disables this filter. With EntryMethod set at 0, this input is not in effect. |
MvgAvg1EntryFilter |
Enables/disables the first moving averages entry filter. A setting of 1 only allows long entries only if the fast moving average as specified by the input FastAverage1Length is above the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. It allows short entries only if the fast moving average as specified by the input FastAverage1Length is below the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. If anyone of the Slow1Average1Length or Slow2Average1Length is set to 0, it will ignore this particular slow moving average, therefore only using the slow moving average with a Length greater than 0. A setting of 0 disables this filter. |
MvgAvg2EntryFilter |
Enables/disables the second moving averages entry filter. A setting of 1 only allows long entries only if the fast moving average as specified by the input FastAverage2Length is above the medium moving average as specified by the input MediumAverage2Length and the medium moving average as specified by the input MediumAverage2Length is above the slow moving average as specified by the input SlowAverage2Length. It allows short entries only if the fast moving average as specified by the input FastAverage2Length is below the medium moving average as specified by the input MediumAverage2Length and the medium moving average as specified by the input MediumAverage2Length is below the slow moving average as specified by the input SlowAverage2Length. If anyone of the three Length inputs is set to 0, it will ignore this particular moving average, therefore only using the moving averages with a Length greater than 0. A setting of 0 disables this filter. |
ha_NumBars_Entry |
This input functions in conjunction with Entry Method 3 and it specifies the number of bars after the Heikin-Ashi indicator changes trend as to when to enter. For example, with a setting of 0, the strategy enters on the same bar when the Heikin-Ashi indicator changes trend, with a setting of 1, the strategy enters one bar after the Heikin-Ashi indicator changes trend and so fourth. With a negative setting, there are no restrictions in regards to how many bars from the trend change an entry can occur and the strategy will enter into a position as soon as all enabled filters allow an entry into the same direction as the Heikin-Ashi trend. |
Average Slope Entry Filter: |
Requires a moving average up slope for a long entry and a moving average down slope for a short entry. |
SlopeAvgPrice |
Specifies the price to be used for the moving average of this moving average slope entry filter. |
SlopeAvgLength |
Specifies the length to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. |
SlopeAvgType |
Specifies the type to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a hull average and a setting of 7 uses price as specified with the input SlopeAvgPrice. |
Consolidation Entry Filter: |
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MaxNumLosingTrades |
This input specifies the maximum allowed number of consecutive losing trades at which the strategy stops trading and waits for price to breakout either above the next higher pivot resistance or the next lower pivot support as defined by the Alchemy Pivots Indicator . A setting of 0 disables this entry filter. |
MinConsolidationBrkOutDist |
Specifies the minimum required breakout distance in number of ticks, pips or cents at which time the strategy re-enters into the direction of the current trend of the Alchemy Trend Catcher |
PivotStrength |
Specifies the minimum required number of bars with lower highs to the left and right of pivot high to qualify for a pivot resistance and the minimum required number of bars with higher lows to the left and right of pivot low to qualify for a pivot support. This input corresponds to the Alchemy Pivots Indicator input PivStren. |
MaxNumLookBackPivots |
Specifies the maximum number of pivots to store in memory. This input corresponds to the Alchemy Pivots Indicator input MaxPiv. |
ShowChannelLines |
Enables/disables the drawing of the pivots supports and resistances as horizontal lines. |
ResistanceColor |
Specifies the color of the pivots resistance lines. |
SupportColor |
Specifies the color of the pivots support lines. |
Time and Date Entry Filter: |
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StartTme |
Specifies the earliest allowed entry time. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
EndTme |
Specifies the latest allowed entry time. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
BreakStartTme |
Specifies the start time of a trading break session during which time the strategy won't generate any new entry signals. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
BreakEndTme |
Specifies the end time of a trading break session during which time the strategy won't generate any new entry signals. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
DayOfWeekToExclude |
Specifies the day of the week when not to trade, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this filter. This input is ignored on weekly and monthly charts. |
Month1ToExclude |
Specifies the first month of the year when not to trade, whereas 1=January, 2=February, 3=March, 4=April, 5=May, 6=June, 7=July, 8=August, 9=September, 10=October, 11=November, 12-December and a negative setting disables this filter. |
Month2ToExclude |
Specifies the second month of the year when not to trade, whereas 1=January, 2=February, 3=March, 4=April, 5=May, 6=June, 7=July, 8=August, 9=September, 10=October, 11=November, 12-December and a negative setting disables this filter. |
CCI Entry Filter: |
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CCILength |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average"or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The input CCILength, specifies the trailing bars for the CCI to analyze at a time. A setting of 0 disables this filter. |
CCIAvgLength |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average"or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The input CCIAvgLength, specifies the trailing bars to consider for the CCI average calculation. A setting of 0 disables this filter. |
CCITrend |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average" or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The text in this input needs to be in quotation marks and it is case sensitive. |
SE Bands Entry Filter: |
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SE_Price |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the price of the Standard Error Bands to be calculated. |
SE_LinRegLength |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the linear regression length of the Standard Error Bands to be calculated. A setting of 0 disables this filter. |
SE_SmoothingLength |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the smoothing length of the Standard Error Bands to be calculated. A setting of 0 disables this filter. |
SE_LongPrice |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. |
SE_ShortPrice |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. |
Bollinger Bands Entry Filter: |
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BB_Price |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the price of the Bollinger Bands to be calculated. |
BB_Length |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the length of the Bollinger Bands to be calculated. Please note that this input can not be set to 0 as this will generate a floating point error. |
BB_NumDevsUp |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the number of deviations for the upper Bollinger Band to be calculated. A setting of 0 disables this filter. |
BB_NumDevsDn |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the number of deviations for the lower Bollinger Band to be calculated. A setting of 0 disables this filter. |
BB_MinBandWidth |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. A setting of 0 disables this filter. |
Swing Retracement Trend Entry Filter: |
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UseSwingRetracementTrend |
This is a separate entry filter based on the Alchemy Swing Retracement Trend indicator and it only allows long entries when the Alchemy Swing Retracement Trend indicator is bullish and it only allows short entries when the Alchemy Swing Retracement Trend indicator is bearish. A setting of 1 enables this filter and a setting of 0 disables this filter. |
SRT_MinimumRetracementBars |
Specifies the minimum number of required retracement bars in between new swings in order to qualify as a retracement. |
SRT_MinimumRetracementPercent |
Specifies the minimum required retracement percentage to qualify as a retracement. |
SRT_Length |
Specifies the look back length for calculating the proprietary SRT volatility filter. |
SRT_Width |
Specifies the minimum required SRT width, which is part of the proprietary SRT volatility filter that a qualifying retracement has to meet. |
SRT_Percent |
Specifies the minimum required SRT percent, which is part of the proprietary SRT volatility filter that a qualifying retracement has to meet. |
SRT_DayStart |
A setting of 1 resets the proprietary SRT volatility filter each new calendar day, whereas a setting of 0 uses a continuous SRT volatility filter. |
Gap Percent Entry Filter: |
This entry filter restricts trades when the market gaps open passed a minimum specified percentage. This entry filter is only active on intra-day charts and with MarketEntry set to 1. |
MinGapPercent |
Specifies the minimum gap percent that needs to be exceeded. A negative setting disables this entry filter. |
NumberRestrictedTrades_GapDirection |
Specifies the number of initial and consecutive trades into the direction of the gap that are being restricted. With a setting of 0, all trades into the direction of the gap are being restricted until the first trade signal into the opposite direction is generated. With a negative setting, all initial and consecutive trades into the direction of the gap are not affected by this entry filter. |
NumberRestrictedTrades_OppGapDirection |
Specifies the number of initial and consecutive trades into the opposite direction of the gap that are being restricted. With a setting of 0, all trades into the opposite direction of the gap are being restricted until the first trade signal into the other direction is generated. With a negative setting, all initial and consecutive trades into the opposite direction of the gap are not affected by this entry filter. |
GP_DaysAgo |
Specifies the number of days ago for which the previous daily close is determined and for which to calculate the gap percent. For example, with a setting of 1, the gap is calculated as the difference between the current day open and the previous day close. With a setting of 2, the gap is calculated as the difference between the current day open and the day close of 2 days ago. A setting of 0 disables this entry filter. |
GP_StartT |
Specifies the session start time. The format is in charting military time without the colon. |
GP_EndT |
Specifies the session end time. The format is in charting military time without the colon. |
GP_XDayOfWeek |
Specifies the day of the week to exclude, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. XDayOfWeek0("=Sunday"),XDayOfWeek1("=Monday"),XDayOfWeek2("=Tuesday"),XDayOfWeek3("=Wednesday"),XDayOfWeek4("=Thursday"),XDayOfWeek5("=Friday"),XDayOfWeek6("=Saturday"),XDayOfWeekNeg("=disabled"). |
Exits |
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Protective Stops |
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Initial Stop: |
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InStopDist |
This strategy uses 3 different methods of specifying the initial stop. This input specifies the initial stop point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the initial stop all 3 inputs InStopDist, InStopMove and InStopSwingPcnt need to be set to 0. |
InStopMove |
This input specifies the initial stop distance in number of ticks, pips or cents from the entry price and in order to use this input, InStopDist needs to be set to 0. |
InStopSwingPcnt |
Determines the initial stop distance from the entry price based on a percentage as specified by InStopSwingPcnt of the difference between the highest high and lowest low over InStopSwingLen number of bars. The input InStopDist and InStopMove need to be set to 0 in order for this initial stop to be activated. |
InStopSwingLen |
Determines the initial stop distance from the entry price based on a percentage as specified by InStopSwingPcnt of the difference between the highest high and lowest low over InStopSwingLen number of bars. The input InStopDist needs to be set to 0 in order for this initial stop to be activated. |
ShowStopTL |
Enables/disables the drawing of the horizontal line for the initial stop. |
TL_Stop_Color |
Specifies the color of the horizontal line for the initial stop. |
TL_Stop_Size |
Specifies the size of the horizontal line for the initial stop. |
TL_Stop_Style |
Specifies the style of the horizontal line for the initial stop. |
Secondary Stop: |
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SecMinProf |
When the minimum profit as specified by this input is reached, a new stop is placed. This input specifies the minimum profit in point values from the entry price before this new stop is being initiated. This input takes priority over the input SecMinProfMove. |
SecMinProfMove |
When the minimum profit as specified by this input is reached, a new stop is placed. This input specifies the minimum profit in number of ticks, pips or cents from the entry price before this new stop is being initiated. In order to use this input, SecMinProf needs to be set to 0. |
SecStopDist |
When the minimum profit as specified by the input SecMinProf or SecMinProfMove is reached, a new stop is placed. This input specifies the stop distance in point value from the entry price. This input takes priority over the input SecMinProfMove. To disable this stop, both, SecStopDist and SecStopMove need to be set to 0. |
SecStopMove |
When the minimum profit as specified by the input SecMinProf or SecMinProfMove is reached, a new stop is placed. This input specifies the stop distance in number of ticks, pips or cents from the entry price. In order to use this input, SecStopDist needs to be set to 0. To disable this stop, both, SecStopDist and SecStopMove need to be set to 0. |
Breakeven Stop: |
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BrkEvStop |
Enables/disables the break even stop. A setting of 1 enables this stop and a setting of 0 disables this stop. |
MinBrkEvProf |
Specifies the minimum required point profit from the entry price in order for the breakeven stop to be activated. This input takes priority over the input MinBrkEvProfMove. |
MinBrkEvProfMove |
Specifies the minimum required profit in number of ticks, pips or cents from the entry price in order for the breakeven stop to be activated. In order to use this input, MinBrkEvProf needs to be set to 0. |
BrkEvAdd |
Specifies the point distance to add in favor to the entry price for the breakeven stop to be placed. This input takes priority over the input BrkEvAddMove. |
BrkEvAddMove |
Specifies the distance in number of ticks, pips or cents to add in favor to the entry price for the breakeven stop to be placed. In order to use this input, BrkEvAdd needs to be set to 0. |
Profit Targets: |
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MarketExit |
Determines on how to exit profit target1 and profit target 2. With a setting of 1, the strategy generates a market order to exit, when the market reaches profit target 1 or profit target 2. With a setting of 0, the strategy places limit orders for these profit targets at the time when an open position is initiated. |
First Profit Target: |
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NumLimitX1 |
Number of contracts /shares to exit at 1st profit target |
LimitX1 |
This strategy uses 3 different methods of specifying the first profit target. This input specifies the first profit target point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the first profit target all 3 inputs LimitX1, LimitX1Move and LimXSwingPcnt1 need to be set to 0. |
LimitX1Move |
This input specifies the first profit target distance in number of ticks, pips or cents from the entry price and in order to use this input, LimitX1 needs to be set to 0. |
LimXSwingPcnt1 |
Determines the 1st profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt1 of the difference between the highest high and lowest low over LimXSwingLen1 number of bars. The input LimitX1 and LimitX1Move need to be set to 0 in order for this profit target to be activated. |
LimXSwingLen1 |
Determines the 1st profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt1 of the difference between the highest high and lowest low over LimXSwingLen1 number of bars. The input LimitX1 needs to be set to 0 in order for this profit target to be activated. |
ShowTarget1TL |
Enables/disables the drawing of the horizontal line for the first profit target. |
TL_Target1_Color |
Specifies the color of the horizontal line for the first profit target. |
TL_Target1_Size |
Specifies the size of the horizontal line for the first profit target. |
TL_Target1_Style |
Specifies the style of the horizontal line for the first profit target. |
Second Profit Target: |
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NumLimitX2 |
Number of contracts /shares to exit at 2nd profit target |
LimitX2 |
This strategy uses 3 different methods of specifying the second profit target. This input specifies the second profit target point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the second profit target all 3 inputs LimitX2, LimitX2Move and LimXSwingPcnt2 need to be set to 0. |
LimitX2Move |
This input specifies the second profit target distance in number of ticks, pips or cents from the entry price and in order to use this input, LimitX2 needs to be set to 0. |
LimXSwingPcnt2 |
Determines the 2nd profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt2 of the difference between the highest high and lowest low over LimXSwingLen2 number of bars. The input LimitX2 needs and LimitX2Move need to be set to 0 in order for this profit target to be activated. |
LimXSwingLen2 |
Determines the 2nd profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt2 of the difference between the highest high and lowest low over LimXSwingLen2 number of bars. The input LimitX2 needs to be set to 0 in order for this profit target to be activated. |
ShowTarget2TL |
Enables/disables the drawing of the horizontal line for the second profit target. |
TL_Target2_Color |
Specifies the color of the horizontal line for the second profit target. |
TL_Target2_Size |
Specifies the size of the horizontal line for the second profit target. |
TL_Target2_Style |
Specifies the style of the horizontal line for the second profit target. |
Keltner Profit Exit: |
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NumKeltnerX |
Number of contracts /shares to exit at Keltner exit |
MinProf |
Specifies the minimum point profit from the entry price in order for the Keltner exit to take effect. This input takes priority over the input MinProfMove. |
MinProfMove |
Specifies the minimum profit in number of ticks, pips or cents from the entry price in order for the Keltner exit to take effect. In order to use this input, MinProf needs to be set to 0. |
KeltnerXDist |
Specifies the point distance inside the outer Keltner bands as to where to place the Keltner exit. This input takes priority over the input KeltnerXMove. |
KeltnerXMove |
Specifies the distance in number of ticks, pips or cents inside the outer Keltner bands as to where to place the Keltner exit. In order to use this input, KeltnerXDist needs to be set to 0. |
Trailing Stops |
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Keltner Trailing Stop: |
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KeltnerStop |
Enables/disables the Keltner trailing stop. The Keltner stop exits all long positions at the lower Keltner Band as specified by the Strong Trend inputs Price, Length and Factor and it exits all short positions at the upper Keltner Band as specified by the Strong Trend inputs Price, Length and Factor. A setting of 1 enables this trailing stop and a setting of 0 disables this trailing stop. |
MinStop |
Specifies the minimum point stop distance from the entry price as to when to initiate the Keltner stop. This input takes priority over the input MinStopMove. |
MinStopMove |
Specifies the minimum distance in number of ticks, pips or cents from the entry price as to when to initiate the Keltner stop. In order to use this input, MinStop needs to be set to 0. |
KeltnerStopDist |
Specifies the point distance outside the outer Keltner bands as to where to place the Keltner stop. This input takes priority over the input KeltnerStopMove. |
KeltnerStopMove |
Specifies the number of ticks, pips or cents distance outside the outer Keltner bands as to where to place the Keltner stop. In order to use this input, KeltnerStopDist needs to be set to 0. |
Point Distance Trailing Stop: |
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TrlStopDist |
Specifies the trailing stop point distance from the position high as to where to place the trailing stop. This input takes priority over the input TrlStopMove. To disable this trailing stop, both, TrlStopDist and TrlStopMove need to be set to 0. |
TrlStopMove |
Specifies the trailing stop distance in number of ticks, pips or cents from the position high as to where to place the trailing stop. In order to use this input, TrlStopDist needs to be set to 0. To disable this trailing stop, both, TrlStopDist and TrlStopMove need to be set to 0. |
MinTrlProf |
Specifies the minimum point profit from the entry price as to when the trailing stop is initiated. This input takes priority over the input MinTrlProfMove. |
MinTrlProfMove |
Specifies the minimum profit in number of ticks, pips or cents from the entry price as to when the trailing stop is initiated. In order to use this input, MinTrlProf needs to be set to 0. |
Percent Profit Trailing Stop: |
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FloorAmount1 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent1. A setting of 0 disables the first floor amount percent trailing stop. |
TrailingPercent1 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount1. A setting of 0 disables the first floor amount percent trailing stop. |
FloorAmount2 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent2. A setting of 0 disables the second floor amount percent trailing stop. |
TrailingPercent2 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount2. A setting of 0 disables the second floor amount percent trailing stop. |
FloorAmount3 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent3. A setting of 0 disables the third floor amount percent trailing stop. |
TrailingPercent3 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount3. A setting of 0 disables the third floor amount percent trailing stop. |
UseMinimumMove |
A setting of true uses the pip distance for calculating the dollar position profit of Floor Amounts 1 through 3 and a setting of false uses the big point value for calculating the dollar position profit of Floor Amounts 1 through 3. When applied to the Forex, this input should be set to true and for all other instruments, this input should be set to false. |
NumberContractsDivider |
This input divides the number of contracts as specified by the inputs NumEntries1, 2 and 3 for calculating the maximum position profit of the percent profit trailing stop. This input is designed for converting the number of standard contracts to mini size contracts in the Forex, specifically in MultiCharts and MCFX. For example, with NumEntries1 set to 1 contract, the strategy enters 100,000 mini size Forex contracts and in order to correctly convert them back to 1 standard size contracts, this input needs to be set to 0.00001 (100,000*0.00001=1). Please note that this conversion is only necessary for MultiCharts and MCFX. In TradeStation this input needs to be set to 1. |
PercentTrailStop_ReEntry |
A positive setting enables a re-entry at the last position high/low into the same direction as the last trade when it was stopped out with the percent trailing stop. This re-entry is active for entry method 0 only. |
PercentTrailStop_ReEntryDistance |
Specifies the distance in number of ticks, pips or cents to add to the previous position high/low to re-enter. |
TrendDirection Trailing Stop: |
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TrendDirectionStop |
Enables/disables the TrendDirection’s trailing stop. A setting of 1 enables this trailing stop. If the strategy is used for exiting only by setting NumEntries1, 2 and 3 to zero, the TrendCatcher trailing stop is being calculated starting with the entry bar rather than using a continuous TrendDirection trailing stop. With a setting of 2, the TrendDirection trailing stop is always being calculated starting with the entry bar. A setting of 0 disables the TrendDirection trailing stop. |
TD_Stop_Length |
Specifies the TrendDirection length for the TrendDirection trailing stop. A setting of 0 disables the TrendDirection trailing stop. |
TD_Stop_Factor |
Specifies the TrendDirection factor for the TrendDirection trailing stop. A setting of 0 disables the TrendDirection trailing stop. |
TD_Stop_Smoothing |
Specifies the smoothing factor of the TrendDirection calculations for the TrendDirection trailing stop and the options are whole numbers from 1 through 6. |
TD_Stop_Range |
Specifies the range factor of the TrendDirection calculations for the TrendDirection trailing stop and the options are whole numbers from 1 through 4. |
TD_Stop_Method |
Specifies the calculation method of the TrendDirection for the TrendDirection trailing stop and the options are whole numbers from 1 through 4. |
TD_Stop_MinBars |
Specifies the minimum number of bars that must pass since the entry bar before the TrendDirection trailing stop is initiated. |
Other Exits: |
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MvgAvg1Exit |
Enables/disables moving the moving averages exit. A setting of 1 exits all short positions if the fast moving average as specified by the input FastAverage1Length is above the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. It exits all long positions if the fast moving average as specified by the input FastAverage1Length is below the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. If anyone of the Slow1Average1Length or Slow2Average1Length is set to 0, it will ignore this particular slow moving average, therefore only using the slow moving average with a Length greater than 0. A setting of 0 disables this exit. |
ha_NumExit |
Specifies the number of contracts/shares to exit when the Heikin-Ashi indicator changes trend against the currently held position. A setting of 0 will exit all open positions and a negative setting disables this exit. |
ha_NumBars_Exit |
This input functions in conjunction with the Heikin-Ashi exit and it specifies the number of bars after the Heikin-Ashi indicator changes trend against the currently held position as to when to exit. For example, with a setting of 0, the strategy exits on the same bar when the Heikin-Ashi indicator changes trend against the currently held position, with a setting of 1, the strategy exits one bar after the Heikin-Ashi indicator changes trend against the currently held position and so fourth. |
ha_Exit_MinNumBars |
Specifies the minimum number of bars that must pass since the entry bar before the ha exit is initiated. |
MaxDailyLoss |
Specifies the maximum accumulated daily dollar amount loss at which to stop trading for the day. This is a positive number, for example, a setting of 2000 stops trading at an accumulated daily loss of $2,000. A setting of 0 disables this feature. |
MaxDailyLossExit |
Determines whether to exit an open position when the accumulated closed out daily dollar amount loss plus the current open position loss exceeds the amount as specified in the input MaxDailyLoss. A setting of 1 enables this exit and a setting of 0 disables this exit. |
MaxDailyProfit |
Specifies the maximum accumulated daily dollar amount profit at which to stop trading for the day. This is a positive number, for example, a setting of 2000 stops trading at an accumulated daily profit of $2,000. A setting of 0 disables this feature. |
MaxDailyProfitExit |
Determines whether to exit an open position when the accumulated closed out daily dollar amount profit plus the current open position profit exceeds the amount as specified in the input MaxDailyProfit. A setting of 1 enables this exit and a setting of 0 disables this exit. |
OutsideTradingTime_MaxLoss |
As soon as a currently held position shows an open position dollar amount loss as specified by this input during a time that is outside the valid trading times as specified by the inputs StartTme and EndTme, the strategy automatically exits all open positions. This exit is dependant on the StartTme and EndTme inputs, therefore, a negative value for anyone of the inputs StartTme, EndTme or OutsideTradingTime_MaxLoss, disables this exit. This input is ignored on daily, weekly and monthly charts. |
OutsideTrailStopDist |
When the strategy is in an position during a time that is outside the valid trading times as specified by the inputs StartTme and EndTme, the strategy automatically trails all open positions by the number of ticks/pips/cents/exits as specified by this input. This stop is dependant on the StartTme and EndTme inputs, therefore, a negative value for anyone of the inputs StartTme or EndTme, disables this exit. A setting of 0 for this inputs disables this stop as well. This input is ignored on daily, weekly and monthly charts. |
EndOfDayX_StartTme |
Specifies the session start time that is related to the end of day exit. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables the end of day exit feature. This input is ignored on daily, weekly and monthly charts. |
EndOfDayX_EndTime |
Specifies the session end time after which the strategy exits all open positions. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables the end of day exit feature. This input is ignored on daily, weekly and monthly charts. |
ExitOnClose |
A positive setting enables the exit on close. This exit closes out all positions at the closing bar, even if the market closes early on special pre-holidays trading days. |
Strong Trend Parameters: |
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ST_Price |
Specifies the price to be used for the Strong Trend calculation such as open, high, low or close. |
ST_Length |
Specifies the number of trailing bars to include in the Strong Trend calculation. |
ST_Factor |
Specifies the Strong Trend sensitivity factor. For a less sensitive Strong Trend calculation, this factor can be increased and for a more sensitive Strong Trend calculation, this factor can be decreased. |
UpPrice |
Price for which the up trend is based on whereas “high” is a more sensitive setting and “low” requires a much stronger up move before an uptrend is detected |
DwnPrice |
Price for which the down trend is based on whereas “low” is a more sensitive setting and “high” requires a much stronger down move before a downtrend is detected. |
MinBars |
Minimum number of bars for a trend confirmation |
EntryPcnt1 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries1 specifies the number of contracts/shares to enter at the first entry level as specified by this input EntryPcnt1. |
EntryPcnt2 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries2 specifies the number of contracts/shares to enter at the second entry level as specified by this input EntryPcnt2. |
EntryPcnt3 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries3 specifies the number of contracts/shares to enter at the third entry level as specified by this input EntryPcnt3. |
Retest |
Specifies the minimum factor for detecting a new strong trend. |
First Moving Averages Parameters: |
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FastAverage1Type |
Specifies the fast moving average type to be used for the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
FastAverage1Price |
Specifies the fast moving averages price for the first moving averages entry filter and moving averages exit. |
FastAverage1Length |
Specifies the fast moving averages length for the first moving averages entry filter and moving averages exit. |
Slow1Average1Type |
Specifies the moving average type to be used for the first slow moving average of the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
Slow1Average1Price |
Specifies the moving average price for the first slow moving average of the moving averages entry filter and moving averages exit. |
Slow1Average1Length |
Specifies the moving average length for the first slow moving average of the moving averages entry filter and moving averages exit. A setting of 0 ignores this moving average. |
Slow2Average1Type |
Specifies the moving average type to be used for the second slow moving average of the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
Slow2Average1Price |
Specifies the moving average price for the second slow moving average of the moving averages entry filter and moving averages exit. |
Slow2Average1Length |
Specifies the moving average length for the second slow moving average of the moving averages entry filter and moving averages exit. A setting of 0 ignores this moving average. |
Second Moving Averages Parameters: |
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FastAverage2Type |
Specifies the fast moving average type to be used for the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
FastAverage2Price |
Specifies the fast moving averages price for the second moving averages entry filter. |
FastAverage2Length |
Specifies the fast moving averages length for the second moving averages entry filter. A setting of 0 ignores this moving average. |
MediumAverage2Type |
Specifies the moving average type to be used for the medium moving average of the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
MediumAverage2Price |
Specifies the moving average price for the medium moving average of the second moving averages entry filter. |
MediumAverage2Length |
Specifies the moving average length for the medium moving average of the second moving averages entry filter. A setting of 0 ignores this moving average. |
SlowAverage2Type |
Specifies the moving average type to be used for the slow moving average of the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
SlowAverage2Price |
Specifies the moving average price for the slow moving average of the second moving averages entry filter. |
SlowAverage2Length |
Specifies the moving average length for the slow moving average of the second moving averages entry filter. A setting of 0 ignores this moving average. |
TrendDirection Parameters: |
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Primary TrendDirection 1 (calculated on applied chart): |
TD1_Length |
Specifies the number of trailing bars to include in the TrendDirection 1 calculation. A setting of 0 disables the TrendDirection 1. |
TD1_Factor |
Specifies the TrendDirection 1 sensitvity factor. For a more long term trend calculation, this factor can be increased and for a more short term trend calculation, this factor can be decreased. A setting of 0 disables the TrendDirection 1. |
TD1_Smoothing |
Specifies the smoothing factor of the TrendDirection 1 calculations and the options are whole numbers from 1 through 6. |
TD1_Range |
Specifies the range factor of the TrendDirection 1 calculations and the options are whole numbers from 1 through 4. |
TD1_Method |
Specifies the calculation method of the TrendDirection 1 and the options are whole numbers from 1 through 4. |
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TrendDirection 2 (calculated on a second time frame or on the same time frame with different parameters): |
Please note that when using a higher time frame for TrendDirection 2, the symbol range of the applied chart needs to encompass a sufficient amount of historical data in order to accurately calculate the TrendDirection 2 values. For example, in order to accurately calculate the monthly TrendDirection values on a 1 minute chart, we recommend setting the 1 minute symbol range to at least 1 year to 2 years back. In order to accurately calculate the weekly TrendDirection values on a 1 minute chart, we recommend setting the 1 minute symbol range to at least 1 year back. In order to accurately calculate the daily TrendDirection values on a 1 minute chart, we recommend setting the 1 minute symbol range to at least 3 months back. Also, due to some bar close timing conflicts between certain intra-day minute, tick and volume interval setting combinations, there might be slight value discrepancies when using certain intra-day minute, tick and volume interval setting combinations. |
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TD2_Length |
Specifies the number of trailing bars to include in the TrendDirection 2 calculation. A setting of 0 disables the TrendDirection 2. |
TD2_Factor |
Specifies the TrendDirection 2 sensitvity factor. For a more long term trend calculation, this factor can be increased and for a more short term trend calculation, this factor can be decreased. A setting of 0 disables the TrendDirection 2. |
TD2_Smoothing |
Specifies the smoothing factor of the TrendDirection 2 calculations and the options are whole numbers from 1 through 6. The primary TrendDirection 1 is defaulted to smoothing factor 2 which is our preferred smoothing method. However, smoothing method 2 for the TrendDirection calculation on a second time frame, is much more memory intensive and therefore, we defaulted TD2_Smoothing to 1 which is more memory efficient and it produces very similar results. |
TD2_Method |
Specifies the calculation method of the TrendDirection 2 and the options are whole numbers from 1 through 4. |
TD2_NumberBarsBack |
Specifies the historical number of bars to load from the current date and time for calculating the TrendDirection of the second time frame. For example, when applied on a 5 minute chart with a range of 90 days back and the second time frame uses a 15 minute chart, the TD2_NumberBarsBack should be set to approximately 2,400 bars in order to load in enough 15 minute bars to the beginning of the 5 minute chart. If TD2_NumberBarsBack is not set to load in enough bars for calculating all the way back to the beginning of the chart, the TrendDirection 2 calculations won't start until later on the chart. Therefore, it is better to load in more bars then not enough. However, as this number increases, it will substantially slow down the load in time of this strategy. If the last bar of the chart is not the current date, to save unnecessary processing power, we recommend using the TD2_FirstDate and TD2_LastDate inputs for specifying the dates to load the historical bars for calculating the TrendDirection of the second time frame. With a setting of 0, TD2_FirstDate and TD2_LastDate left blank, TrendDirection 2 is calculated on the same time frame applied. With this feature, TrendDirection 2 can be used on the same time frame but with different Length, Factor, Smoothing and/or Method settings. If you receive an error message Not enough Data, you need to either reduce the value of this input and/or increase the date range of your symbol setting. |
TD2_FirstDate |
Specifies the earliest date for loading the historical bars to calculate the TrendDirection of the second time frame. In order to use this method of loading the historical bars to calculate the TrendDirection of the second time frame, the input TD2_NumberBarsBack has to be set to 0. As explained above, if the last bar of the chart is not the current date, to save unnecessary processing power, we recommend using the TD2_FirstDate and TD2_LastDate inputs for specifying the dates to load the historical bars for calculating the TrendDirection of the second time frame. This is a string input and when used, the precise format has to be "month/day/year". For example a date of February 1st, 2012 would be entered as "2/1/2012". When not used, this input should be left blank with 2 quotation marks as follows "". If the format of this input is not correct, the indicator will generate an invalid date time format error message. With TD2_NumberBarsBack set to 0, TD2_FirstDate and TD2_LastDate left blank, TrendDirection 2 is calculated on the same time frame applied. With this feature, TrendDirection 2 can be used on the same time frame but with different Length, Factor, Smoothing and/or Method settings. |
TD2_LastDate |
Specifies the latest date for loading the historical bars to calculate the TrendDirection of the second time frame. In order to use this method of loading the historical bars to calculate the TrendDirection of the second time frame, the input TD2_NumberBarsBack has to be set to 0. As explained above, if the last bar of the chart is not the current date, to save unnecessary processing power, we recommend using the TD2_FirstDate and TD2_LastDate inputs for specifying the dates to load the historical bars for calculating the TrendDirection of the second time frame. This is a string input and when used, the precise format has to be "month/day/year". For example a date of February 1st, 2012 would be entered as "2/1/2012". When not used, this input should be left blank with 2 quotation marks as follows "". If the format of this input is not correct, the indicator will generate an invalid date time format error message. With TD2_NumberBarsBack set to 0, TD2_FirstDate and TD2_LastDate left blank, TrendDirection 2 is calculated on the same time frame applied. With this feature, TrendDirection 2 can be used on the same time frame but with different Length, Factor, Smoothing and/or Method settings. |
TD2_Interval |
Specifies the interval setting for a Tick, Volume or Intra-Day interval of the second time frame TrendDirection. As a universal example, we set this input to barinterval*3 which automatically uses a time frame that is 3 times higher from the chart that the indicator is applied on. However, with TD2_IntervalBarType set to either a daily, weekly or monthly interval, the TD2_Interval does not have an affect. With a setting of 0, TrendDirection 2 is calculated on the same time frame applied. With this feature, TrendDirection 2 can be used on the same time frame but with different Length, Factor, Smoothing and/or Method settings. |
TD2_IntervalBarType |
Specifies the interval of the second time frame TrendDirection. A setting of -1 uses a Volume chart. A setting of 0 uses a Tick chart. A setting of 1 uses an Intra-Day Minute chart. A setting of 2 uses a Daily chart. A setting of 3 uses a Weekly chart. A setting of 4 uses a Monthly chart. With a setting of -2, TrendDirection 2 is calculated on the same time frame applied. With this feature, TrendDirection 2 can be used on the same time frame but with different Length, Factor, Smoothing and/or Method settings. |
Heikin-Ashi Parameter: |
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ha_Length |
Specifies the length for the Heikin-Ashi indicator. Please note that a setting of 0 automatically disables entry method 3 and the Heikin-Ashi exit. |
Global Limit Orders: |
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Increments |
Specifies the nearest increment to round all limit orders to. For example, when set to 0.05, a limit price of 100.02 will be rounded down to 100 and a limit price of 100.03 will be rounded up to 100.05. A setting of 0 disables this rounding feature. |
EqualRounding |
When the distance to the nearest increment above and below is equal, a setting of 0 will round down to the nearest increment below and a setting of 1 will round up to the nearest increment above. |
MaxNumTests |
Specifies the maximum number of cents, ticks or pips to search for the nearest increment to round to. On stocks for example, with an increment setting of 0.05, this input can be set to 5 cents, whereas with an increment setting of 0.1, this input should be set to 10 cents. If this value is set too low, a runtime error will display. |
Divergence Entries-Exits: |
With this module enabled, as soon as bearish divergence is detected, the strategy will stop placing long entry orders until the trend reverses and at the same time, the strategy will also exit all long positions when bearish divergence is detected. Vice versa, as soon as bullish divergence is detected, the strategy will stop placing short entry orders until the trend reverses and at the same time, the strategy will also exit all short positions when bullish divergence is detected. This module detects MACD, RSI and Stochastic divergence. |
Global Divergence Parameters: |
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MinDivergences |
Specifies the minimum number of divergences to occur on the same bar in order to qualify for a valid divergence signal. Since this module detects MACD, RSI and Stochastic divergence, the maximum number of divergences that can occur on the same bar, is 3. A setting of 0 disables this feature. |
BearishPriceType |
Specifies the price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPriceType |
Specifies the price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
MACD Divergence Parameters: |
All of the MACD divergence parameter inputs follow the same format as our Alchemy MACD Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at MACD Divergence Complete Strategy Parameters |
RSI Divergence Parameters: |
All of the RSI divergence parameter inputs follow the same format as our Alchemy RSI Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at RSI Divergence Complete Strategy Parameters |
Stochastic Divergence Parameters: |
All of the Stochastic divergence parameter inputs follow the same format as our Alchemy Stochastic Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at Stochastic Divergence Complete Strategy Parameters |
Print Log: |
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_PrintLog |
Specifies the location and name of the print log file. |
PrintLog |
Enables/disables the print log. |
Decimal |
Specifies the decimal points for printing the price values in the print log. |
To view chart, go to:
http://www.tradingalchemy.com/ViewChartsTrendCatcher.htm#trendstrategy
The Alchemy Trend strategy is designed to identify strong trending markets and then locate entry points in that strong trend. This strategy uses the Alchemy Trend Catcher to identify the overall trend and it uses the Alchemy Strong Trend Entry indicators to enter trades. This strategy has several options for entry methods and for an explanation, please refer to the input "EntryMethod".
A bullish strong trend is defined as price penetrating the upper band of the Alchemy Bands indicator. A bearish strong trend is defined as price penetrating the lower band of the Alchemy Bands indicator. The entry zone is defined as the mid line and lower channel band in a bullish strong trend and the mid line and upper channel band in a bearish strong trend.
User Defined Inputs:
Entry Parameters |
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NumEntries1 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries1 specifies the number of contracts/shares to enter at the first entry level as specified by the input EntryPcnt1. With all other entry methods, NumEntries1 specifies the number of contracts/shares per entry. |
NumEntries2 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries2 specifies the number of contracts/shares to enter at the second entry level as specified by the input EntryPcnt2. With all other entry methods, this input is ignored. |
NumEntries3 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries3 specifies the number of contracts/shares to enter at the third entry level as specified by the input EntryPcnt3. With all other entry methods, this input is ignored. |
Reverse |
A setting of 1 allows for the strategy to reverse positions from long to short or from short to long if the conditions for a reversal occur. A setting of 0, denies a reversal and the strategy needs to exit all existing position before it can enter a trade into the opposite direction. |
RT_PurchasingPower (Available for TradeStation 9/10 only) |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the input MarginRequire as well as the MarginRequirePcnt entered into the input MarginRequirePcnt. This input specifies the reserved word that retrieves the real time purchasing power based on your type of trading account. For futures and forex accounts the reserved word would be GetRTPurchasingPower(GetAccountID). For a complete list of reserved words, you can go to the TradeManager category of the EasyLanguage dictionary. For an example of this application, please refer to the inputs description below. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
MarginRequire (Available for TradeStation 9/10 only) |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the above input as well as the MarginRequirePcnt entered into this input. For example, with a current real time purchasing power of $100,000, a MarginRequire setting of 10000 ($10,000 per contract/share) and a MarginRequirePcnt setting of 50 (50%), the strategy will automatically enter with 5 contracts ($100,000 real time purchasing power divided by $10,000 margin requirement per contracts equals a maximum of 10 contracts. 50% of 10 contracts results in 5 contracts). This feature overwrites the number of contracts/shares entered into NumEntries1 only and to utilize this feature, NumEntries2 and NumEntries 3 should be set to 0. This feature is to be used for real time trading and not for back testing as the TradeManager only returns real time information. With a setting of 0 or if the strategy does not detect a valid TradeStation account, this feature is disabled and the strategy will use a fixed number of contracts/shares based on the input NumEntries1. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
MarginRequirePcnt (Available for TradeStation 9/10 only) |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the above input as well as the MarginRequirePcnt entered into this input. For example, with a current real time purchasing power of $100,000, a MarginRequire setting of 10000 ($10,000 per contract/share) and a MarginRequirePcnt setting of 50 (50%), the strategy will automatically enter with 5 contracts ($100,000 real time purchasing power divided by $10,000 margin requirement per contracts equals a maximum of 10 contracts. 50% of 10 contracts results in 5 contracts). This feature overwrites the number of contracts/shares entered into NumEntries1 only and to utilize this feature, NumEntries2 and NumEntries 3 should be set to 0. This feature is to be used for real time trading and not for back testing as the TradeManager only returns real time information. With a setting of 0 or if the strategy does not detect a valid TradeStation account, this feature is disabled and the strategy will use a fixed number of contracts/shares based on the input NumEntries1. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
EntryMethod |
Specifies the entry method as follows: A setting of 0 follows the Alchemy Trend Catcher indicator and enters long when the Alchemy Trend Catcher changes directions from bearish to bullish and it enters short when the Alchemy Trend Catcher changes directions from bullish to bearish. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. A setting of 1 follows the Alchemy Strong Trend indicator. With this setting, the strategy enters long when the Alchemy Strong Trend paint bars turn cyan which indicates that the indicator detects a strong up trend. Vice versa, the strategy enters short when the Alchemy Strong Trend paint bars turn magenta which indicates that the indicator detects a strong down trend. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. A setting of 2 follows the Alchemy Strong Trend Entry indicator. With this setting, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the input EntryPcnt, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. A setting of 3 generates an entry signal when the Alchemy Heikin-Ashi indicator changes trend. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. For more specific entry rules, please refer to the input ha_NumBars_Entry below. |
MarketEntry |
A setting of 1 generates market entry orders and a setting of 0 generates limit entry orders at the closing price of the bar that generates the entry signal. With EntryMethod set to 0 and MarketEntry set to 0, the strategy generates a limit entry order at the last Trender stop price before the reversal breakout. |
UseAvgEntryPrice |
A setting of 1 uses the average entry price for performing all exit calculations and a setting of 0 uses the entry price of the first entry bar for performing all exit calculations. This input is only relevant when NumEntries1, NumEntries2 and NumEntries3 of entry method 2 are being used as otherwise, the entry price and average entry price would be the same. |
EntryAdd |
Specifies the number of ticks to add to the limit entry price for entry method 1 and entry method 2. This input only works in conjunction with limit entry orders when the input MarketEntry is set to 0. As an example for entry method 1, with EntryAdd set to 1 and EntryMethod1_LongEntryLimit set to low, the strategy places a limit buy order 1 tick below the low of the bar that triggers the buy signal. As an example for entry method 2, with EntryAdd set to 1 and EntryPcnt1 set to 0, the strategy places a limit buy order 1 tick above the closest Strong Trend entry dot. |
EntryMethod1_ShortEntryLimit |
This inputs works in conjunction with EntryMethod set to 1 and MarketEntry set to 0. It specifies the price of the short entry limit. For example with EntryMethod1_ShortEntryLimit set to high, the strategy places a limit sell order x number of ticks as specified by the input EntryAdd above the high of the bar that triggers the sell signal, whereas with EntryMethod1_ShortEntryLimit set to close, the strategy places a limit sell order x number of ticks as specified by the input EntryAdd above the close of the bar that triggers the sell signal. |
EntryMethod1_LongEntryLimit |
This inputs works in conjunction with EntryMethod set to 1 and MarketEntry set to 0. It specifies the price of the long entry limit. For example with EntryMethod1_LongEntryLimit set to low, the strategy places a limit buy order x number of ticks as specified by the input EntryAdd below the low of the bar that triggers the buy signal, whereas with EntryMethod1_LongEntryLimit set to close, the strategy places a limit buy order x number of ticks as specified by the input EntryAdd below the close of the bar that triggers the buy signal. |
Entry Filters: |
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TrendEntryFilter |
Enables/disables the Trend Catcher filter. A setting of 1 only allows long entries if the Alchemy Trend Catcher is bullish and it only allows short entries if the Alchemy Trend Catcher is bearish. A setting of 0 disables this filter. With EntryMethod set at 0, this input is not in effect. |
MvgAvg1EntryFilter |
Enables/disables the first moving averages entry filter. A setting of 1 only allows long entries only if the fast moving average as specified by the input FastAverage1Length is above the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. It allows short entries only if the fast moving average as specified by the input FastAverage1Length is below the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. If anyone of the Slow1Average1Length or Slow2Average1Length is set to 0, it will ignore this particular slow moving average, therefore only using the slow moving average with a Length greater than 0. A setting of 0 disables this filter. |
MvgAvg2EntryFilter |
Enables/disables the second moving averages entry filter. A setting of 1 only allows long entries only if the fast moving average as specified by the input FastAverage2Length is above the medium moving average as specified by the input MediumAverage2Length and the medium moving average as specified by the input MediumAverage2Length is above the slow moving average as specified by the input SlowAverage2Length. It allows short entries only if the fast moving average as specified by the input FastAverage2Length is below the medium moving average as specified by the input MediumAverage2Length and the medium moving average as specified by the input MediumAverage2Length is below the slow moving average as specified by the input SlowAverage2Length. If anyone of the three Length inputs is set to 0, it will ignore this particular moving average, therefore only using the moving averages with a Length greater than 0. A setting of 0 disables this filter. |
ha_NumBars_Entry |
This input functions in conjunction with Entry Method 3 and it specifies the number of bars after the Heikin-Ashi indicator changes trend as to when to enter. For example, with a setting of 0, the strategy enters on the same bar when the Heikin-Ashi indicator changes trend, with a setting of 1, the strategy enters one bar after the Heikin-Ashi indicator changes trend and so fourth. With a negative setting, there are no restrictions in regards to how many bars from the trend change an entry can occur and the strategy will enter into a position as soon as all enabled filters allow an entry into the same direction as the Heikin-Ashi trend. |
Average Slope Entry Filter: |
Requires a moving average up slope for a long entry and a moving average down slope for a short entry. |
SlopeAvgPrice |
Specifies the price to be used for the moving average of this moving average slope entry filter. |
SlopeAvgLength |
Specifies the length to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. |
SlopeAvgType |
Specifies the type to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a hull average and a setting of 7 uses price as specified with the input SlopeAvgPrice. |
Consolidation Entry Filter: |
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MaxNumLosingTrades |
This input specifies the maximum allowed number of consecutive losing trades at which the strategy stops trading and waits for price to breakout either above the next higher pivot resistance or the next lower pivot support as defined by the Alchemy Pivots Indicator . A setting of 0 disables this entry filter. |
MinConsolidationBrkOutDist |
Specifies the minimum required breakout distance in number of ticks, pips or cents at which time the strategy re-enters into the direction of the current trend of the Alchemy Trend Catcher |
PivotStrength |
Specifies the minimum required number of bars with lower highs to the left and right of pivot high to qualify for a pivot resistance and the minimum required number of bars with higher lows to the left and right of pivot low to qualify for a pivot support. This input corresponds to the Alchemy Pivots Indicator input PivStren. |
MaxNumLookBackPivots |
Specifies the maximum number of pivots to store in memory. This input corresponds to the Alchemy Pivots Indicator input MaxPiv. |
ShowChannelLines |
Enables/disables the drawing of the pivots supports and resistances as horizontal lines. |
ResistanceColor |
Specifies the color of the pivots resistance lines. |
SupportColor |
Specifies the color of the pivots support lines. |
Time and Date Entry Filter: |
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StartTme |
Specifies the earliest allowed entry time. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
EndTme |
Specifies the latest allowed entry time. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
BreakStartTme |
Specifies the start time of a trading break session during which time the strategy won't generate any new entry signals. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
BreakEndTme |
Specifies the end time of a trading break session during which time the strategy won't generate any new entry signals. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
DayOfWeekToExclude |
Specifies the day of the week when not to trade, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this filter. This input is ignored on weekly and monthly charts. |
Month1ToExclude |
Specifies the first month of the year when not to trade, whereas 1=January, 2=February, 3=March, 4=April, 5=May, 6=June, 7=July, 8=August, 9=September, 10=October, 11=November, 12-December and a negative setting disables this filter. |
Month2ToExclude |
Specifies the second month of the year when not to trade, whereas 1=January, 2=February, 3=March, 4=April, 5=May, 6=June, 7=July, 8=August, 9=September, 10=October, 11=November, 12-December and a negative setting disables this filter. |
CCI Entry Filter: |
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CCILength |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average"or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The input CCILength, specifies the trailing bars for the CCI to analyze at a time. A setting of 0 disables this filter. |
CCIAvgLength |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average"or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The input CCIAvgLength, specifies the trailing bars to consider for the CCI average calculation. A setting of 0 disables this filter. |
CCITrend |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average" or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The text in this input needs to be in quotation marks and it is case sensitive. |
SE Bands Entry Filter: |
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SE_Price |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the price of the Standard Error Bands to be calculated. |
SE_LinRegLength |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the linear regression length of the Standard Error Bands to be calculated. A setting of 0 disables this filter. |
SE_SmoothingLength |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the smoothing length of the Standard Error Bands to be calculated. A setting of 0 disables this filter. |
SE_LongPrice |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. |
SE_ShortPrice |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. |
Bollinger Bands Entry Filter: |
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BB_Price |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the price of the Bollinger Bands to be calculated. |
BB_Length |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the length of the Bollinger Bands to be calculated. Please note that this input can not be set to 0 as this will generate a floating point error. |
BB_NumDevsUp |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the number of deviations for the upper Bollinger Band to be calculated. A setting of 0 disables this filter. |
BB_NumDevsDn |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the number of deviations for the lower Bollinger Band to be calculated. A setting of 0 disables this filter. |
BB_MinBandWidth |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. A setting of 0 disables this filter. |
Swing Retracement Trend Entry Filter: |
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UseSwingRetracementTrend |
This is a separate entry filter based on the Alchemy Swing Retracement Trend indicator and it only allows long entries when the Alchemy Swing Retracement Trend indicator is bullish and it only allows short entries when the Alchemy Swing Retracement Trend indicator is bearish. A setting of 1 enables this filter and a setting of 0 disables this filter. |
SRT_MinimumRetracementBars |
Specifies the minimum number of required retracement bars in between new swings in order to qualify as a retracement. |
SRT_MinimumRetracementPercent |
Specifies the minimum required retracement percentage to qualify as a retracement. |
SRT_Length |
Specifies the look back length for calculating the proprietary SRT volatility filter. |
SRT_Width |
Specifies the minimum required SRT width, which is part of the proprietary SRT volatility filter that a qualifying retracement has to meet. |
SRT_Percent |
Specifies the minimum required SRT percent, which is part of the proprietary SRT volatility filter that a qualifying retracement has to meet. |
SRT_DayStart |
A setting of 1 resets the proprietary SRT volatility filter each new calendar day, whereas a setting of 0 uses a continuous SRT volatility filter. |
Exits |
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Protective Stops |
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Initial Stop: |
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InStopDist |
This strategy uses 3 different methods of specifying the initial stop. This input specifies the initial stop point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the initial stop all 3 inputs InStopDist, InStopMove and InStopSwingPcnt need to be set to 0. |
InStopMove |
This input specifies the initial stop distance in number of ticks, pips or cents from the entry price and in order to use this input, InStopDist needs to be set to 0. |
InStopSwingPcnt |
Determines the initial stop distance from the entry price based on a percentage as specified by InStopSwingPcnt of the difference between the highest high and lowest low over InStopSwingLen number of bars. The input InStopDist and InStopMove need to be set to 0 in order for this initial stop to be activated. |
InStopSwingLen |
Determines the initial stop distance from the entry price based on a percentage as specified by InStopSwingPcnt of the difference between the highest high and lowest low over InStopSwingLen number of bars. The input InStopDist needs to be set to 0 in order for this initial stop to be activated. |
ShowStopTL |
Enables/disables the drawing of the horizontal line for the initial stop. |
TL_Stop_Color |
Specifies the color of the horizontal line for the initial stop. |
TL_Stop_Size |
Specifies the size of the horizontal line for the initial stop. |
TL_Stop_Style |
Specifies the style of the horizontal line for the initial stop. |
Secondary Stop: |
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SecMinProf |
When the minimum profit as specified by this input is reached, a new stop is placed. This input specifies the minimum profit in point values from the entry price before this new stop is being initiated. This input takes priority over the input SecMinProfMove. |
SecMinProfMove |
When the minimum profit as specified by this input is reached, a new stop is placed. This input specifies the minimum profit in number of ticks, pips or cents from the entry price before this new stop is being initiated. In order to use this input, SecMinProf needs to be set to 0. |
SecStopDist |
When the minimum profit as specified by the input SecMinProf or SecMinProfMove is reached, a new stop is placed. This input specifies the stop distance in point value from the entry price. This input takes priority over the input SecMinProfMove. To disable this stop, both, SecStopDist and SecStopMove need to be set to 0. |
SecStopMove |
When the minimum profit as specified by the input SecMinProf or SecMinProfMove is reached, a new stop is placed. This input specifies the stop distance in number of ticks, pips or cents from the entry price. In order to use this input, SecStopDist needs to be set to 0. To disable this stop, both, SecStopDist and SecStopMove need to be set to 0. |
Breakeven Stop: |
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BrkEvStop |
Enables/disables the break even stop. A setting of 1 enables this stop and a setting of 0 disables this stop. |
MinBrkEvProf |
Specifies the minimum required point profit from the entry price in order for the breakeven stop to be activated. This input takes priority over the input MinBrkEvProfMove. |
MinBrkEvProfMove |
Specifies the minimum required profit in number of ticks, pips or cents from the entry price in order for the breakeven stop to be activated. In order to use this input, MinBrkEvProf needs to be set to 0. |
BrkEvAdd |
Specifies the point distance to add in favor to the entry price for the breakeven stop to be placed. This input takes priority over the input BrkEvAddMove. |
BrkEvAddMove |
Specifies the distance in number of ticks, pips or cents to add in favor to the entry price for the breakeven stop to be placed. In order to use this input, BrkEvAdd needs to be set to 0. |
Profit Targets: |
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MarketExit |
Determines on how to exit profit target1 and profit target 2. With a setting of 1, the strategy generates a market order to exit, when the market reaches profit target 1 or profit target 2. With a setting of 0, the strategy places limit orders for these profit targets at the time when an open position is initiated. |
First Profit Target: |
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NumLimitX1 |
Number of contracts /shares to exit at 1st profit target |
LimitX1 |
This strategy uses 3 different methods of specifying the first profit target. This input specifies the first profit target point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the first profit target all 3 inputs LimitX1, LimitX1Move and LimXSwingPcnt1 need to be set to 0. |
LimitX1Move |
This input specifies the first profit target distance in number of ticks, pips or cents from the entry price and in order to use this input, LimitX1 needs to be set to 0. |
LimXSwingPcnt1 |
Determines the 1st profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt1 of the difference between the highest high and lowest low over LimXSwingLen1 number of bars. The input LimitX1 and LimitX1Move need to be set to 0 in order for this profit target to be activated. |
LimXSwingLen1 |
Determines the 1st profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt1 of the difference between the highest high and lowest low over LimXSwingLen1 number of bars. The input LimitX1 needs to be set to 0 in order for this profit target to be activated. |
ShowTarget1TL |
Enables/disables the drawing of the horizontal line for the first profit target. |
TL_Target1_Color |
Specifies the color of the horizontal line for the first profit target. |
TL_Target1_Size |
Specifies the size of the horizontal line for the first profit target. |
TL_Target1_Style |
Specifies the style of the horizontal line for the first profit target. |
Second Profit Target: |
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NumLimitX2 |
Number of contracts /shares to exit at 2nd profit target |
LimitX2 |
This strategy uses 3 different methods of specifying the second profit target. This input specifies the second profit target point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the second profit target all 3 inputs LimitX2, LimitX2Move and LimXSwingPcnt2 need to be set to 0. |
LimitX2Move |
This input specifies the second profit target distance in number of ticks, pips or cents from the entry price and in order to use this input, LimitX2 needs to be set to 0. |
LimXSwingPcnt2 |
Determines the 2nd profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt2 of the difference between the highest high and lowest low over LimXSwingLen2 number of bars. The input LimitX2 needs and LimitX2Move need to be set to 0 in order for this profit target to be activated. |
LimXSwingLen2 |
Determines the 2nd profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt2 of the difference between the highest high and lowest low over LimXSwingLen2 number of bars. The input LimitX2 needs to be set to 0 in order for this profit target to be activated. |
ShowTarget2TL |
Enables/disables the drawing of the horizontal line for the second profit target. |
TL_Target2_Color |
Specifies the color of the horizontal line for the second profit target. |
TL_Target2_Size |
Specifies the size of the horizontal line for the second profit target. |
TL_Target2_Style |
Specifies the style of the horizontal line for the second profit target. |
Keltner Profit Exit: |
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NumKeltnerX |
Number of contracts /shares to exit at Keltner exit |
MinProf |
Specifies the minimum point profit from the entry price in order for the Keltner exit to take effect. This input takes priority over the input MinProfMove. |
MinProfMove |
Specifies the minimum profit in number of ticks, pips or cents from the entry price in order for the Keltner exit to take effect. In order to use this input, MinProf needs to be set to 0. |
KeltnerXDist |
Specifies the point distance inside the outer Keltner bands as to where to place the Keltner exit. This input takes priority over the input KeltnerXMove. |
KeltnerXMove |
Specifies the distance in number of ticks, pips or cents inside the outer Keltner bands as to where to place the Keltner exit. In order to use this input, KeltnerXDist needs to be set to 0. |
Trailing Stops |
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Keltner Trailing Stop: |
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KeltnerStop |
Enables/disables the Keltner trailing stop. The Keltner stop exits all long positions at the lower Keltner Band as specified by the Strong Trend inputs Price, Length and Factor and it exits all short positions at the upper Keltner Band as specified by the Strong Trend inputs Price, Length and Factor. A setting of 1 enables this trailing stop and a setting of 0 disables this trailing stop. |
MinStop |
Specifies the minimum point stop distance from the entry price as to when to initiate the Keltner stop. This input takes priority over the input MinStopMove. |
MinStopMove |
Specifies the minimum distance in number of ticks, pips or cents from the entry price as to when to initiate the Keltner stop. In order to use this input, MinStop needs to be set to 0. |
KeltnerStopDist |
Specifies the point distance outside the outer Keltner bands as to where to place the Keltner stop. This input takes priority over the input KeltnerStopMove. |
KeltnerStopMove |
Specifies the number of ticks, pips or cents distance outside the outer Keltner bands as to where to place the Keltner stop. In order to use this input, KeltnerStopDist needs to be set to 0. |
Point Distance Trailing Stop: |
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TrlStopDist |
Specifies the trailing stop point distance from the position high as to where to place the trailing stop. This input takes priority over the input TrlStopMove. To disable this trailing stop, both, TrlStopDist and TrlStopMove need to be set to 0. |
TrlStopMove |
Specifies the trailing stop distance in number of ticks, pips or cents from the position high as to where to place the trailing stop. In order to use this input, TrlStopDist needs to be set to 0. To disable this trailing stop, both, TrlStopDist and TrlStopMove need to be set to 0. |
MinTrlProf |
Specifies the minimum point profit from the entry price as to when the trailing stop is initiated. This input takes priority over the input MinTrlProfMove. |
MinTrlProfMove |
Specifies the minimum profit in number of ticks, pips or cents from the entry price as to when the trailing stop is initiated. In order to use this input, MinTrlProf needs to be set to 0. |
Percent Profit Trailing Stop: |
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FloorAmount1 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent1. A setting of 0 disables the first floor amount percent trailing stop. |
TrailingPercent1 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount1. A setting of 0 disables the first floor amount percent trailing stop. |
FloorAmount2 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent2. A setting of 0 disables the second floor amount percent trailing stop. |
TrailingPercent2 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount2. A setting of 0 disables the second floor amount percent trailing stop. |
FloorAmount3 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent3. A setting of 0 disables the third floor amount percent trailing stop. |
TrailingPercent3 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount3. A setting of 0 disables the third floor amount percent trailing stop. |
UseMinimumMove |
A setting of true uses the pip distance for calculating the dollar position profit of Floor Amounts 1 through 3 and a setting of false uses the big point value for calculating the dollar position profit of Floor Amounts 1 through 3. When applied to the Forex, this input should be set to true and for all other instruments, this input should be set to false. |
NumberContractsDivider |
This input divides the number of contracts as specified by the inputs NumEntries1, 2 and 3 for calculating the maximum position profit of the percent profit trailing stop. This input is designed for converting the number of standard contracts to mini size contracts in the Forex, specifically in MultiCharts and MCFX. For example, with NumEntries1 set to 1 contract, the strategy enters 100,000 mini size Forex contracts and in order to correctly convert them back to 1 standard size contracts, this input needs to be set to 0.00001 (100,000*0.00001=1). Please note that this conversion is only necessary for MultiCharts and MCFX. In TradeStation this input needs to be set to 1. |
PercentTrailStop_ReEntry |
A positive setting enables a re-entry at the last position high/low into the same direction as the last trade when it was stopped out with the percent trailing stop. This re-entry is active for entry method 0 only. |
PercentTrailStop_ReEntryDistance |
Specifies the distance in number of ticks, pips or cents to add to the previous position high/low to re-enter. |
TrendCatcher Trailing Stop: |
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TrendStop |
Enables/disables the TrendCatcher’s trailing stop. A setting of 1 enables this trailing stop. If the strategy is used for exiting only by setting NumEntries1, 2 and 3 to zero, the TrendCatcher trailing stop is being calculated starting with the entry bar rather than using a continuous TrendCatcher trailing stop. With a setting of 2, the TrendCatcher trailing stop is always being calculated starting with the entry bar. A setting of 0 disables the TrendCatcher trailing stop. |
TC_Stop_Length |
Specifies the TrendCatcher length for the TrendCatcher trailing stop. A setting of 0 disables the TrendCatcher trailing stop. |
TC_Stop_Factor |
Specifies the TrendCatcher factor for the TrendCatcher trailing stop. A setting of 0 disables the TrendCatcher trailing stop. |
TC_Stop_UseCloseTrail |
With a setting of 1 the TrendCatcher calculation for the TrendCatcher trailing stop is based on the closing price and with a setting of 0 the TrendCatcher calculation for the TrendCatcher trailing stop is based on the bar high for the long stop or the bar low for the short stop. |
TC_Stop_MinBars |
Specifies the minimum number of bars that must pass since the entry bar before the TrendCatcher trailing stop is initiated. |
Other Exits: |
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MvgAvg1Exit |
Enables/disables moving the moving averages exit. A setting of 1 exits all short positions if the fast moving average as specified by the input FastAverage1Length is above the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. It exits all long positions if the fast moving average as specified by the input FastAverage1Length is below the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. If anyone of the Slow1Average1Length or Slow2Average1Length is set to 0, it will ignore this particular slow moving average, therefore only using the slow moving average with a Length greater than 0. A setting of 0 disables this exit. |
ha_NumExit |
Specifies the number of contracts/shares to exit when the Heikin-Ashi indicator changes trend against the currently held position. A setting of 0 will exit all open positions and a negative setting disables this exit. |
ha_NumBars_Exit |
This input functions in conjunction with the Heikin-Ashi exit and it specifies the number of bars after the Heikin-Ashi indicator changes trend against the currently held position as to when to exit. For example, with a setting of 0, the strategy exits on the same bar when the Heikin-Ashi indicator changes trend against the currently held position, with a setting of 1, the strategy exits one bar after the Heikin-Ashi indicator changes trend against the currently held position and so fourth. |
ha_Exit_MinNumBars |
Specifies the minimum number of bars that must pass since the entry bar before the ha exit is initiated. |
MaxDailyLoss |
Specifies the maximum accumulated daily dollar amount loss at which to stop trading for the day. This is a positive number, for example, a setting of 2000 stops trading at an accumulated daily loss of $2,000. A setting of 0 disables this feature. |
MaxDailyLossExit |
Determines whether to exit an open position when the accumulated closed out daily dollar amount loss plus the current open position loss exceeds the amount as specified in the input MaxDailyLoss. A setting of 1 enables this exit and a setting of 0 disables this exit. |
MaxDailyProfit |
Specifies the maximum accumulated daily dollar amount profit at which to stop trading for the day. This is a positive number, for example, a setting of 2000 stops trading at an accumulated daily profit of $2,000. A setting of 0 disables this feature. |
MaxDailyProfitExit |
Determines whether to exit an open position when the accumulated closed out daily dollar amount profit plus the current open position profit exceeds the amount as specified in the input MaxDailyProfit. A setting of 1 enables this exit and a setting of 0 disables this exit. |
OutsideTradingTime_MaxLoss |
As soon as a currently held position shows an open position dollar amount loss as specified by this input during a time that is outside the valid trading times as specified by the inputs StartTme and EndTme, the strategy automatically exits all open positions. This exit is dependant on the StartTme and EndTme inputs, therefore, a negative value for anyone of the inputs StartTme, EndTme or OutsideTradingTime_MaxLoss, disables this exit. This input is ignored on daily, weekly and monthly charts. |
OutsideTrailStopDist |
When the strategy is in an position during a time that is outside the valid trading times as specified by the inputs StartTme and EndTme, the strategy automatically trails all open positions by the number of ticks/pips/cents/exits as specified by this input. This stop is dependant on the StartTme and EndTme inputs, therefore, a negative value for anyone of the inputs StartTme or EndTme, disables this exit. A setting of 0 for this inputs disables this stop as well. This input is ignored on daily, weekly and monthly charts. |
EndOfDayX_StartTme |
Specifies the session start time that is related to the end of day exit. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables the end of day exit feature. This input is ignored on daily, weekly and monthly charts. |
EndOfDayX_EndTime |
Specifies the session end time after which the strategy exits all open positions. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables the end of day exit feature. This input is ignored on daily, weekly and monthly charts. |
ExitOnClose |
A positive setting enables the exit on close. This exit closes out all positions at the closing bar, even if the market closes early on special pre-holidays trading days. |
Strong Trend Parameters: |
|
Price |
Price for which the Mid-Keltner is based on |
Length |
Mid-Keltner length |
Factor |
Outside Keltner Band range |
UpPrice |
Price for which the up trend is based on whereas “high” is a more sensitive setting and “low” requires a much stronger up move before an uptrend is detected |
DwnPrice |
Price for which the down trend is based on whereas “low” is a more sensitive setting and “high” requires a much stronger down move before a downtrend is detected. |
MinBars |
Minimum number of bars for a trend confirmation |
EntryPcnt1 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries1 specifies the number of contracts/shares to enter at the first entry level as specified by this input EntryPcnt1. |
EntryPcnt2 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries2 specifies the number of contracts/shares to enter at the second entry level as specified by this input EntryPcnt2. |
EntryPcnt3 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries3 specifies the number of contracts/shares to enter at the third entry level as specified by this input EntryPcnt3. |
Retest |
Specifies the minimum penetration amount of the outside Keltner band for a new trend to set up |
First Moving Averages Parameters: |
|
FastAverage1Type |
Specifies the fast moving average type to be used for the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
FastAverage1Price |
Specifies the fast moving averages price for the first moving averages entry filter and moving averages exit. |
FastAverage1Length |
Specifies the fast moving averages length for the first moving averages entry filter and moving averages exit. |
Slow1Average1Type |
Specifies the moving average type to be used for the first slow moving average of the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
Slow1Average1Price |
Specifies the moving average price for the first slow moving average of the moving averages entry filter and moving averages exit. |
Slow1Average1Length |
Specifies the moving average length for the first slow moving average of the moving averages entry filter and moving averages exit. A setting of 0 ignores this moving average. |
Slow2Average1Type |
Specifies the moving average type to be used for the second slow moving average of the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
Slow2Average1Price |
Specifies the moving average price for the second slow moving average of the moving averages entry filter and moving averages exit. |
Slow2Average1Length |
Specifies the moving average length for the second slow moving average of the moving averages entry filter and moving averages exit. A setting of 0 ignores this moving average. |
Second Moving Averages Parameters: |
|
FastAverage2Type |
Specifies the fast moving average type to be used for the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
FastAverage2Price |
Specifies the fast moving averages price for the second moving averages entry filter. |
FastAverage2Length |
Specifies the fast moving averages length for the second moving averages entry filter. A setting of 0 ignores this moving average. |
MediumAverage2Type |
Specifies the moving average type to be used for the medium moving average of the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
MediumAverage2Price |
Specifies the moving average price for the medium moving average of the second moving averages entry filter. |
MediumAverage2Length |
Specifies the moving average length for the medium moving average of the second moving averages entry filter. A setting of 0 ignores this moving average. |
SlowAverage2Type |
Specifies the moving average type to be used for the slow moving average of the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
SlowAverage2Price |
Specifies the moving average price for the slow moving average of the second moving averages entry filter. |
SlowAverage2Length |
Specifies the moving average length for the slow moving average of the second moving averages entry filter. A setting of 0 ignores this moving average. |
TrendCatcher Parameters: |
|
TrendLength |
Specifies the number of trailing bars to include in the Trend Catcher’s volatility calculation. |
TrendFactor |
Specifies the multiplication factor of the Trend Catcher’s volatility calculation to be used for trailing. |
UseTrendCloseTrail |
Specifies the price to set the Trend Catcher’s trailing distance from. A setting of 1 uses the close, whereas a setting of 0 uses the high in an uptrend and the low in a downtrend. |
UseTrendCloseStop |
Specifies the price to use for changing the trend direction when the Trend Catcher’s trailing stop is penetrated. When set to 1, it uses the close. When set to 0, it uses the low in an uptrend and the high in a downtrend. |
Heikin-Ashi Parameter: |
|
ha_Length |
Specifies the length for the Heikin-Ashi indicator. Please note that a setting of 0 automatically disables entry method 3 and the Heikin-Ashi exit. |
Global Limit Orders: |
|
Increments |
Specifies the nearest increment to round all limit orders to. For example, when set to 0.05, a limit price of 100.02 will be rounded down to 100 and a limit price of 100.03 will be rounded up to 100.05. A setting of 0 disables this rounding feature. |
EqualRounding |
When the distance to the nearest increment above and below is equal, a setting of 0 will round down to the nearest increment below and a setting of 1 will round up to the nearest increment above. |
MaxNumTests |
Specifies the maximum number of cents, ticks or pips to search for the nearest increment to round to. On stocks for example, with an increment setting of 0.05, this input can be set to 5 cents, whereas with an increment setting of 0.1, this input should be set to 10 cents. If this value is set too low, a runtime error will display. |
Divergence Entries-Exits: |
With this module enabled, as soon as bearish divergence is detected, the strategy will stop placing long entry orders until the trend reverses and at the same time, the strategy will also exit all long positions when bearish divergence is detected. Vice versa, as soon as bullish divergence is detected, the strategy will stop placing short entry orders until the trend reverses and at the same time, the strategy will also exit all short positions when bullish divergence is detected. This module detects MACD, RSI and Stochastic divergence. |
Global Divergence Parameters: |
|
MinDivergences |
Specifies the minimum number of divergences to occur on the same bar in order to qualify for a valid divergence signal. Since this module detects MACD, RSI and Stochastic divergence, the maximum number of divergences that can occur on the same bar, is 3. A setting of 0 disables this feature. |
BearishPriceType |
Specifies the price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPriceType |
Specifies the price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
MACD Divergence Parameters: |
All of the MACD divergence parameter inputs follow the same format as our Alchemy MACD Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at MACD Divergence Complete Strategy Parameters |
RSI Divergence Parameters: |
All of the RSI divergence parameter inputs follow the same format as our Alchemy RSI Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at RSI Divergence Complete Strategy Parameters |
Stochastic Divergence Parameters: |
All of the Stochastic divergence parameter inputs follow the same format as our Alchemy Stochastic Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at Stochastic Divergence Complete Strategy Parameters |
Print Log: |
|
_PrintLog |
Specifies the location and name of the print log file. |
PrintLog |
Enables/disables the print log. |
Decimal |
Specifies the decimal points for printing the price values in the print log. |
To view chart, go to:
http://www.tradingalchemy.com/ViewChartsTrendCatcher.htm#trendstrategy
For streamlining purpose, we broke out our Trend Complete strategy above into separate strategies per entry method as follows:
The Alchemy Trend Complete Strategy - Heikin-Ashi Entry is identical to our Trend Complete Strategy as outlined above but it only uses the Heikin-Ashi entry (entry method 3) and all strategy inputs that are irrelevant to this entry method are eliminated.
The Alchemy Trend Complete Strategy - TrendCatcher Entry is identical to our Trend Complete Strategy as outlined above but it only uses the TrendCatcher entry (entry method 0) and all strategy inputs that are irrelevant to this entry method are eliminated.
The Alchemy Trend Complete Strategy - StrongTrendBreakout Entry is identical to our Trend Complete Strategy as outlined above but it only uses the Strong Trend breakout entry (entry method 1) and all strategy inputs that are irrelevant to this entry method are eliminated.
The Alchemy Trend Complete Strategy - StrongTrendRetracement Entry is identical to our Trend Complete Strategy as outlined above but it only uses the Strong Trend retracement entry (entry method 2) and all strategy inputs that are irrelevant to this entry method are eliminated.
The Alchemy Trend Complete Strategy for TradeStation 8 and MultiCharts is a scaled back version of our Alchemy Trend Complete Strategy to adapt to the older TradeStation 8 as well as the MultiCharts platforms.
The Alchemy Trend Complete Strategy is designed to identify strong trending markets and then locate entry points in that strong trend. This strategy uses the Alchemy Trend Catcher to identify the overall trend and it uses the Alchemy Strong Trend Entry indicators to enter trades. This strategy has several options for entry methods and for an explanation, please refer to the input "EntryMethod".
A bullish strong trend is defined as price penetrating the upper band of the Alchemy Bands indicator. A bearish strong trend is defined as price penetrating the lower band of the Alchemy Bands indicator. The entry zone is defined as the mid line and lower channel band in a bullish strong trend and the mid line and upper channel band in a bearish strong trend.
User Defined Inputs:
Entry Parameters |
|
NumEntries1 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries1 specifies the number of contracts/shares to enter at the first entry level as specified by the input EntryPcnt1. With all other entry methods, NumEntries1 specifies the number of contracts/shares per entry. |
NumEntries2 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries2 specifies the number of contracts/shares to enter at the second entry level as specified by the input EntryPcnt2. With all other entry methods, this input is ignored. |
NumEntries3 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries3 specifies the number of contracts/shares to enter at the third entry level as specified by the input EntryPcnt3. With all other entry methods, this input is ignored. |
Reverse |
A setting of 1 allows for the strategy to reverse positions from long to short or from short to long if the conditions for a reversal occur. A setting of 0, denies a reversal and the strategy needs to exit all existing position before it can enter a trade into the opposite direction. |
EntryMethod |
Specifies the entry method as follows: A setting of 0 follows the Alchemy Trend Catcher indicator and enters long when the Alchemy Trend Catcher changes directions from bearish to bullish and it enters short when the Alchemy Trend Catcher changes directions from bullish to bearish. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. A setting of 1 follows the Alchemy Strong Trend indicator. With this setting, the strategy enters long when the Alchemy Strong Trend paint bars turn cyan which indicates that the indicator detects a strong up trend. Vice versa, the strategy enters short when the Alchemy Strong Trend paint bars turn magenta which indicates that the indicator detects a strong down trend. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. A setting of 2 follows the Alchemy Strong Trend Entry indicator. With this setting, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by the input EntryPcnt, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. A setting of 3 generates an entry signal when the Alchemy Heikin-Ashi indicator changes trend. With this entry method, the strategy enters with NumEntries1 number of contracts/shares into a position. For more specific entry rules, please refer to the input ha_NumBars_Entry below. |
MarketEntry |
A setting of 1 generates market entry orders and a setting of 0 generates limit entry orders at the closing price of the bar that generates the entry signal. With EntryMethod set to 0 and MarketEntry set to 0, the strategy generates a limit entry order at the last Trender stop price before the reversal breakout. |
UseAvgEntryPrice |
A setting of 1 uses the average entry price for performing all exit calculations and a setting of 0 uses the entry price of the first entry bar for performing all exit calculations. This input is only relevant when NumEntries1, NumEntries2 and NumEntries3 of entry method 2 are being used as otherwise, the entry price and average entry price would be the same. |
EntryAdd |
Specifies the number of ticks to add to the limit entry price for entry method 1 and entry method 2. This input only works in conjunction with limit entry orders when the input MarketEntry is set to 0. As an example for entry method 1, with EntryAdd set to 1 and EntryMethod1_LongEntryLimit set to low, the strategy places a limit buy order 1 tick below the low of the bar that triggers the buy signal. As an example for entry method 2, with EntryAdd set to 1 and EntryPcnt1 set to 0, the strategy places a limit buy order 1 tick above the closest Strong Trend entry dot. |
EntryMethod1_ShortEntryLimit |
This inputs works in conjunction with EntryMethod set to 1 and MarketEntry set to 0. It specifies the price of the short entry limit. For example with EntryMethod1_ShortEntryLimit set to high, the strategy places a limit sell order x number of ticks as specified by the input EntryAdd above the high of the bar that triggers the sell signal, whereas with EntryMethod1_ShortEntryLimit set to close, the strategy places a limit sell order x number of ticks as specified by the input EntryAdd above the close of the bar that triggers the sell signal. |
EntryMethod1_LongEntryLimit |
This inputs works in conjunction with EntryMethod set to 1 and MarketEntry set to 0. It specifies the price of the long entry limit. For example with EntryMethod1_LongEntryLimit set to low, the strategy places a limit buy order x number of ticks as specified by the input EntryAdd below the low of the bar that triggers the buy signal, whereas with EntryMethod1_LongEntryLimit set to close, the strategy places a limit buy order x number of ticks as specified by the input EntryAdd below the close of the bar that triggers the buy signal. |
Entry Filters: |
|
TrendEntryFilter |
Enables/disables the Trend Catcher filter. A setting of 1 only allows long entries if the Alchemy Trend Catcher is bullish and it only allows short entries if the Alchemy Trend Catcher is bearish. A setting of 0 disables this filter. With EntryMethod set at 0, this input is not in effect. |
MvgAvg1EntryFilter |
Enables/disables the first moving averages entry filter. A setting of 1 only allows long entries only if the fast moving average as specified by the input FastAverage1Length is above the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. It allows short entries only if the fast moving average as specified by the input FastAverage1Length is below the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. If anyone of the Slow1Average1Length or Slow2Average1Length is set to 0, it will ignore this particular slow moving average, therefore only using the slow moving average with a Length greater than 0. A setting of 0 disables this filter. |
MvgAvg2EntryFilter |
Enables/disables the second moving averages entry filter. A setting of 1 only allows long entries only if the fast moving average as specified by the input FastAverage2Length is above the medium moving average as specified by the input MediumAverage2Length and the medium moving average as specified by the input MediumAverage2Length is above the slow moving average as specified by the input SlowAverage2Length. It allows short entries only if the fast moving average as specified by the input FastAverage2Length is below the medium moving average as specified by the input MediumAverage2Length and the medium moving average as specified by the input MediumAverage2Length is below the slow moving average as specified by the input SlowAverage2Length. If anyone of the three Length inputs is set to 0, it will ignore this particular moving average, therefore only using the moving averages with a Length greater than 0. A setting of 0 disables this filter. |
ha_NumBars_Entry |
This input functions in conjunction with Entry Method 3 and it specifies the number of bars after the Heikin-Ashi indicator changes trend as to when to enter. For example, with a setting of 0, the strategy enters on the same bar when the Heikin-Ashi indicator changes trend, with a setting of 1, the strategy enters one bar after the Heikin-Ashi indicator changes trend and so fourth. With a negative setting, there are no restrictions in regards to how many bars from the trend change an entry can occur and the strategy will enter into a position as soon as all enabled filters allow an entry into the same direction as the Heikin-Ashi trend. |
Average Slope Entry Filter: |
Requires a moving average up slope for a long entry and a moving average down slope for a short entry. |
SlopeAvgPrice |
Specifies the price to be used for the moving average of this moving average slope entry filter. |
SlopeAvgLength |
Specifies the length to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. |
SlopeAvgType |
Specifies the type to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a hull average and a setting of 7 uses price as specified with the input SlopeAvgPrice. |
Consolidation Entry Filter: |
|
MaxNumLosingTrades |
This input specifies the maximum allowed number of consecutive losing trades at which the strategy stops trading and waits for price to breakout either above the next higher pivot resistance or the next lower pivot support as defined by the Alchemy Pivots Indicator . A setting of 0 disables this entry filter. |
MinConsolidationBrkOutDist |
Specifies the minimum required breakout distance in number of ticks, pips or cents at which time the strategy re-enters into the direction of the current trend of the Alchemy Trend Catcher |
PivotStrength |
Specifies the minimum required number of bars with lower highs to the left and right of pivot high to qualify for a pivot resistance and the minimum required number of bars with higher lows to the left and right of pivot low to qualify for a pivot support. This input corresponds to the Alchemy Pivots Indicator input PivStren. |
MaxNumLookBackPivots |
Specifies the maximum number of pivots to store in memory. This input corresponds to the Alchemy Pivots Indicator input MaxPiv. |
ShowChannelLines |
Enables/disables the drawing of the pivots supports and resistances as horizontal lines. |
ResistanceColor |
Specifies the color of the pivots resistance lines. |
SupportColor |
Specifies the color of the pivots support lines. |
Time and Date Entry Filter: |
|
StartTme |
Specifies the earliest allowed entry time. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
EndTme |
Specifies the latest allowed entry time. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
BreakStartTme |
Specifies the start time of a trading break session during which time the strategy won't generate any new entry signals. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
BreakEndTme |
Specifies the end time of a trading break session during which time the strategy won't generate any new entry signals. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
DayOfWeekToExclude |
Specifies the day of the week when not to trade, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this filter. This input is ignored on weekly and monthly charts. |
Month1ToExclude |
Specifies the first month of the year when not to trade, whereas 1=January, 2=February, 3=March, 4=April, 5=May, 6=June, 7=July, 8=August, 9=September, 10=October, 11=November, 12-December and a negative setting disables this filter. |
Month2ToExclude |
Specifies the second month of the year when not to trade, whereas 1=January, 2=February, 3=March, 4=April, 5=May, 6=June, 7=July, 8=August, 9=September, 10=October, 11=November, 12-December and a negative setting disables this filter. |
CCI Entry Filter: |
|
CCILength |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average"or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The input CCILength, specifies the trailing bars for the CCI to analyze at a time. A setting of 0 disables this filter. |
CCIAvgLength |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average"or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The input CCIAvgLength, specifies the trailing bars to consider for the CCI average calculation. A setting of 0 disables this filter. |
CCITrend |
This is a separate entry filter based on the CCI. With a CCITrend input setting of "Average" or "A", the strategy only takes long trades when the CCI average is above the CCI, and the strategy takes only short trades when the CCI average is below the CCI. Otherwise, the strategy only takes long trades when the CCI is above the CCI average , and the strategy takes only short trades when the CCI is below the CCI average. The text in this input needs to be in quotation marks and it is case sensitive. |
SE Bands Entry Filter: |
|
SE_Price |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the price of the Standard Error Bands to be calculated. |
SE_LinRegLength |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the linear regression length of the Standard Error Bands to be calculated. A setting of 0 disables this filter. |
SE_SmoothingLength |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. This input specifies the smoothing length of the Standard Error Bands to be calculated. A setting of 0 disables this filter. |
SE_LongPrice |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. |
SE_ShortPrice |
This is a separate entry filter based on the Standard Error Bands. For long entries, the price as specified in the input SE_LongPrice of the bar that generates a long entry signal as well as the limit or stop entry price, has to be above the lower Standard Error Band. For short entries, the price as specified in the input SE_ShortPrice of the bar that generates a short entry signal as well as the limit or stop entry price, has to be below the upper Standard Error Band. |
Bollinger Bands Entry Filter: |
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BB_Price |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the price of the Bollinger Bands to be calculated. |
BB_Length |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the length of the Bollinger Bands to be calculated. Please note that this input can not be set to 0 as this will generate a floating point error. |
BB_NumDevsUp |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the number of deviations for the upper Bollinger Band to be calculated. A setting of 0 disables this filter. |
BB_NumDevsDn |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. This input specifies the number of deviations for the lower Bollinger Band to be calculated. A setting of 0 disables this filter. |
BB_MinBandWidth |
This is a separate entry filter based on the Bollinger Bands width and it only allows entries when the Bollinger Band width is above the distance as specified in the input BB_MinBandWidth. A setting of 0 disables this filter. |
Swing Retracement Trend Entry Filter: |
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UseSwingRetracementTrend |
This is a separate entry filter based on the Alchemy Swing Retracement Trend indicator and it only allows long entries when the Alchemy Swing Retracement Trend indicator is bullish and it only allows short entries when the Alchemy Swing Retracement Trend indicator is bearish. A setting of 1 enables this filter and a setting of 0 disables this filter. |
SRT_MinimumRetracementBars |
Specifies the minimum number of required retracement bars in between new swings in order to qualify as a retracement. |
SRT_MinimumRetracementPercent |
Specifies the minimum required retracement percentage to qualify as a retracement. |
SRT_Length |
Specifies the look back length for calculating the proprietary SRT volatility filter. |
SRT_Width |
Specifies the minimum required SRT width, which is part of the proprietary SRT volatility filter that a qualifying retracement has to meet. |
SRT_Percent |
Specifies the minimum required SRT percent, which is part of the proprietary SRT volatility filter that a qualifying retracement has to meet. |
SRT_DayStart |
A setting of 1 resets the proprietary SRT volatility filter each new calendar day, whereas a setting of 0 uses a continuous SRT volatility filter. |
Exits |
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Protective Stops |
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Initial Stop: |
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InStopDist |
This strategy uses 3 different methods of specifying the initial stop. This input specifies the initial stop point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the initial stop all 3 inputs InStopDist, InStopMove and InStopSwingPcnt need to be set to 0. |
InStopMove |
This input specifies the initial stop distance in number of ticks, pips or cents from the entry price and in order to use this input, InStopDist needs to be set to 0. |
InStopSwingPcnt |
Determines the initial stop distance from the entry price based on a percentage as specified by InStopSwingPcnt of the difference between the highest high and lowest low over InStopSwingLen number of bars. The input InStopDist and InStopMove need to be set to 0 in order for this initial stop to be activated. |
InStopSwingLen |
Determines the initial stop distance from the entry price based on a percentage as specified by InStopSwingPcnt of the difference between the highest high and lowest low over InStopSwingLen number of bars. The input InStopDist needs to be set to 0 in order for this initial stop to be activated. |
ShowStopTL |
Enables/disables the drawing of the horizontal line for the initial stop. |
TL_Stop_Color |
Specifies the color of the horizontal line for the initial stop. |
TL_Stop_Size |
Specifies the size of the horizontal line for the initial stop. |
TL_Stop_Style |
Specifies the style of the horizontal line for the initial stop. |
Secondary Stop: |
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SecMinProf |
When the minimum profit as specified by this input is reached, a new stop is placed. This input specifies the minimum profit in point values from the entry price before this new stop is being initiated. This input takes priority over the input SecMinProfMove. |
SecMinProfMove |
When the minimum profit as specified by this input is reached, a new stop is placed. This input specifies the minimum profit in number of ticks, pips or cents from the entry price before this new stop is being initiated. In order to use this input, SecMinProf needs to be set to 0. |
SecStopDist |
When the minimum profit as specified by the input SecMinProf or SecMinProfMove is reached, a new stop is placed. This input specifies the stop distance in point value from the entry price. This input takes priority over the input SecMinProfMove. To disable this stop, both, SecStopDist and SecStopMove need to be set to 0. |
SecStopMove |
When the minimum profit as specified by the input SecMinProf or SecMinProfMove is reached, a new stop is placed. This input specifies the stop distance in number of ticks, pips or cents from the entry price. In order to use this input, SecStopDist needs to be set to 0. To disable this stop, both, SecStopDist and SecStopMove need to be set to 0. |
Breakeven Stop: |
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BrkEvStop |
Enables/disables the break even stop. A setting of 1 enables this stop and a setting of 0 disables this stop. |
MinBrkEvProf |
Specifies the minimum required point profit from the entry price in order for the breakeven stop to be activated. This input takes priority over the input MinBrkEvProfMove. |
MinBrkEvProfMove |
Specifies the minimum required profit in number of ticks, pips or cents from the entry price in order for the breakeven stop to be activated. In order to use this input, MinBrkEvProf needs to be set to 0. |
BrkEvAdd |
Specifies the point distance to add in favor to the entry price for the breakeven stop to be placed. This input takes priority over the input BrkEvAddMove. |
BrkEvAddMove |
Specifies the distance in number of ticks, pips or cents to add in favor to the entry price for the breakeven stop to be placed. In order to use this input, BrkEvAdd needs to be set to 0. |
Profit Targets: |
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MarketExit |
Determines on how to exit profit target1 and profit target 2. With a setting of 1, the strategy generates a market order to exit, when the market reaches profit target 1 or profit target 2. With a setting of 0, the strategy places limit orders for these profit targets at the time when an open position is initiated. |
First Profit Target: |
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NumLimitX1 |
Number of contracts /shares to exit at 1st profit target |
LimitX1 |
This strategy uses 3 different methods of specifying the first profit target. This input specifies the first profit target point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the first profit target all 3 inputs LimitX1, LimitX1Move and LimXSwingPcnt1 need to be set to 0. |
LimitX1Move |
This input specifies the first profit target distance in number of ticks, pips or cents from the entry price and in order to use this input, LimitX1 needs to be set to 0. |
LimXSwingPcnt1 |
Determines the 1st profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt1 of the difference between the highest high and lowest low over LimXSwingLen1 number of bars. The input LimitX1 and LimitX1Move need to be set to 0 in order for this profit target to be activated. |
LimXSwingLen1 |
Determines the 1st profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt1 of the difference between the highest high and lowest low over LimXSwingLen1 number of bars. The input LimitX1 needs to be set to 0 in order for this profit target to be activated. |
ShowTarget1TL |
Enables/disables the drawing of the horizontal line for the first profit target. |
TL_Target1_Color |
Specifies the color of the horizontal line for the first profit target. |
TL_Target1_Size |
Specifies the size of the horizontal line for the first profit target. |
TL_Target1_Style |
Specifies the style of the horizontal line for the first profit target. |
Second Profit Target: |
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NumLimitX2 |
Number of contracts /shares to exit at 2nd profit target |
LimitX2 |
This strategy uses 3 different methods of specifying the second profit target. This input specifies the second profit target point distance from the entry price and with any value greater than 0, it overrides the next 2 methods. In order to disable the second profit target all 3 inputs LimitX2, LimitX2Move and LimXSwingPcnt2 need to be set to 0. |
LimitX2Move |
This input specifies the second profit target distance in number of ticks, pips or cents from the entry price and in order to use this input, LimitX2 needs to be set to 0. |
LimXSwingPcnt2 |
Determines the 2nd profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt2 of the difference between the highest high and lowest low over LimXSwingLen2 number of bars. The input LimitX2 needs and LimitX2Move need to be set to 0 in order for this profit target to be activated. |
LimXSwingLen2 |
Determines the 2nd profit target distance from the entry price based on a percentage as specified by LimXSwingPcnt2 of the difference between the highest high and lowest low over LimXSwingLen2 number of bars. The input LimitX2 needs to be set to 0 in order for this profit target to be activated. |
ShowTarget2TL |
Enables/disables the drawing of the horizontal line for the second profit target. |
TL_Target2_Color |
Specifies the color of the horizontal line for the second profit target. |
TL_Target2_Size |
Specifies the size of the horizontal line for the second profit target. |
TL_Target2_Style |
Specifies the style of the horizontal line for the second profit target. |
Keltner Profit Exit: |
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NumKeltnerX |
Number of contracts /shares to exit at Keltner exit |
MinProf |
Specifies the minimum point profit from the entry price in order for the Keltner exit to take effect. This input takes priority over the input MinProfMove. |
MinProfMove |
Specifies the minimum profit in number of ticks, pips or cents from the entry price in order for the Keltner exit to take effect. In order to use this input, MinProf needs to be set to 0. |
KeltnerXDist |
Specifies the point distance inside the outer Keltner bands as to where to place the Keltner exit. This input takes priority over the input KeltnerXMove. |
KeltnerXMove |
Specifies the distance in number of ticks, pips or cents inside the outer Keltner bands as to where to place the Keltner exit. In order to use this input, KeltnerXDist needs to be set to 0. |
Trailing Stops |
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Keltner Trailing Stop: |
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KeltnerStop |
Enables/disables the Keltner trailing stop. The Keltner stop exits all long positions at the lower Keltner Band as specified by the Strong Trend inputs Price, Length and Factor and it exits all short positions at the upper Keltner Band as specified by the Strong Trend inputs Price, Length and Factor. A setting of 1 enables this trailing stop and a setting of 0 disables this trailing stop. |
MinStop |
Specifies the minimum point stop distance from the entry price as to when to initiate the Keltner stop. This input takes priority over the input MinStopMove. |
MinStopMove |
Specifies the minimum distance in number of ticks, pips or cents from the entry price as to when to initiate the Keltner stop. In order to use this input, MinStop needs to be set to 0. |
KeltnerStopDist |
Specifies the point distance outside the outer Keltner bands as to where to place the Keltner stop. This input takes priority over the input KeltnerStopMove. |
KeltnerStopMove |
Specifies the number of ticks, pips or cents distance outside the outer Keltner bands as to where to place the Keltner stop. In order to use this input, KeltnerStopDist needs to be set to 0. |
Point Distance Trailing Stop: |
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TrlStopDist |
Specifies the trailing stop point distance from the position high as to where to place the trailing stop. This input takes priority over the input TrlStopMove. To disable this trailing stop, both, TrlStopDist and TrlStopMove need to be set to 0. |
TrlStopMove |
Specifies the trailing stop distance in number of ticks, pips or cents from the position high as to where to place the trailing stop. In order to use this input, TrlStopDist needs to be set to 0. To disable this trailing stop, both, TrlStopDist and TrlStopMove need to be set to 0. |
MinTrlProf |
Specifies the minimum point profit from the entry price as to when the trailing stop is initiated. This input takes priority over the input MinTrlProfMove. |
MinTrlProfMove |
Specifies the minimum profit in number of ticks, pips or cents from the entry price as to when the trailing stop is initiated. In order to use this input, MinTrlProf needs to be set to 0. |
Percent Profit Trailing Stop: |
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FloorAmount1 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent1. A setting of 0 disables the first floor amount percent trailing stop. |
TrailingPercent1 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount1. A setting of 0 disables the first floor amount percent trailing stop. |
FloorAmount2 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent2. A setting of 0 disables the second floor amount percent trailing stop. |
TrailingPercent2 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount2. A setting of 0 disables the second floor amount percent trailing stop. |
FloorAmount3 |
Specifies the minimum open position profit of all contracts/shares in dollar amount at which the strategy trails all open positions at a percent profit as specified by the input TrailingPercent3. A setting of 0 disables the third floor amount percent trailing stop. |
TrailingPercent3 |
Specifies the percent profit at which the strategy trails all open positions once the minimum open position profit of all contracts/shares reaches the dollar amount as specified by the input FloorAmount3. A setting of 0 disables the third floor amount percent trailing stop. |
UseMinimumMove |
A setting of true uses the pip distance for calculating the dollar position profit of Floor Amounts 1 through 3 and a setting of false uses the big point value for calculating the dollar position profit of Floor Amounts 1 through 3. When applied to the Forex, this input should be set to true and for all other instruments, this input should be set to false. |
NumberContractsDivider |
This input divides the number of contracts as specified by the inputs NumEntries1, 2 and 3 for calculating the maximum position profit of the percent profit trailing stop. This input is designed for converting the number of standard contracts to mini size contracts in the Forex, specifically in MultiCharts and MCFX. For example, with NumEntries1 set to 1 contract, the strategy enters 100,000 mini size Forex contracts and in order to correctly convert them back to 1 standard size contracts, this input needs to be set to 0.00001 (100,000*0.00001=1). Please note that this conversion is only necessary for MultiCharts and MCFX. In TradeStation this input needs to be set to 1. |
PercentTrailStop_ReEntry |
A positive setting enables a re-entry at the last position high/low into the same direction as the last trade when it was stopped out with the percent trailing stop. This re-entry is active for entry method 0 only. |
PercentTrailStop_ReEntryDistance |
Specifies the distance in number of ticks, pips or cents to add to the previous position high/low to re-enter. |
TrendCatcher Trailing Stop: |
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TrendStop |
Enables/disables the TrendCatcher’s trailing stop. A setting of 1 enables this trailing stop. If the strategy is used for exiting only by setting NumEntries1, 2 and 3 to zero, the TrendCatcher trailing stop is being calculated starting with the entry bar rather than using a continuous TrendCatcher trailing stop. With a setting of 2, the TrendCatcher trailing stop is always being calculated starting with the entry bar. A setting of 0 disables the TrendCatcher trailing stop. |
TC_Stop_Length |
Specifies the TrendCatcher length for the TrendCatcher trailing stop. A setting of 0 disables the TrendCatcher trailing stop. |
TC_Stop_Factor |
Specifies the TrendCatcher factor for the TrendCatcher trailing stop. A setting of 0 disables the TrendCatcher trailing stop. |
TC_Stop_UseCloseTrail |
With a setting of 1 the TrendCatcher calculation for the TrendCatcher trailing stop is based on the closing price and with a setting of 0 the TrendCatcher calculation for the TrendCatcher trailing stop is based on the bar high for the long stop or the bar low for the short stop. |
TC_Stop_MinBars |
Specifies the minimum number of bars that must pass since the entry bar before the TrendCatcher trailing stop is initiated. |
Other Exits: |
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MvgAvg1Exit |
Enables/disables moving the moving averages exit. A setting of 1 exits all short positions if the fast moving average as specified by the input FastAverage1Length is above the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. It exits all long positions if the fast moving average as specified by the input FastAverage1Length is below the slow moving averages as specified by the inputs Slow1Average1Length and Slow2Average1Length. If anyone of the Slow1Average1Length or Slow2Average1Length is set to 0, it will ignore this particular slow moving average, therefore only using the slow moving average with a Length greater than 0. A setting of 0 disables this exit. |
ha_NumExit |
Specifies the number of contracts/shares to exit when the Heikin-Ashi indicator changes trend against the currently held position. A setting of 0 will exit all open positions and a negative setting disables this exit. |
ha_NumBars_Exit |
This input functions in conjunction with the Heikin-Ashi exit and it specifies the number of bars after the Heikin-Ashi indicator changes trend against the currently held position as to when to exit. For example, with a setting of 0, the strategy exits on the same bar when the Heikin-Ashi indicator changes trend against the currently held position, with a setting of 1, the strategy exits one bar after the Heikin-Ashi indicator changes trend against the currently held position and so fourth. |
ha_Exit_MinNumBars |
Specifies the minimum number of bars that must pass since the entry bar before the ha exit is initiated. |
MaxDailyLoss |
Specifies the maximum accumulated daily dollar amount loss at which to stop trading for the day. This is a positive number, for example, a setting of 2000 stops trading at an accumulated daily loss of $2,000. A setting of 0 disables this feature. |
MaxDailyLossExit |
Determines whether to exit an open position when the accumulated closed out daily dollar amount loss plus the current open position loss exceeds the amount as specified in the input MaxDailyLoss. A setting of 1 enables this exit and a setting of 0 disables this exit. |
MaxDailyProfit |
Specifies the maximum accumulated daily dollar amount profit at which to stop trading for the day. This is a positive number, for example, a setting of 2000 stops trading at an accumulated daily profit of $2,000. A setting of 0 disables this feature. |
MaxDailyProfitExit |
Determines whether to exit an open position when the accumulated closed out daily dollar amount profit plus the current open position profit exceeds the amount as specified in the input MaxDailyProfit. A setting of 1 enables this exit and a setting of 0 disables this exit. |
OutsideTradingTime_MaxLoss |
As soon as a currently held position shows an open position dollar amount loss as specified by this input during a time that is outside the valid trading times as specified by the inputs StartTme and EndTme, the strategy automatically exits all open positions. This exit is dependant on the StartTme and EndTme inputs, therefore, a negative value for anyone of the inputs StartTme, EndTme or OutsideTradingTime_MaxLoss, disables this exit. This input is ignored on daily, weekly and monthly charts. |
OutsideTrailStopDist |
When the strategy is in an position during a time that is outside the valid trading times as specified by the inputs StartTme and EndTme, the strategy automatically trails all open positions by the number of ticks/pips/cents/exits as specified by this input. This stop is dependant on the StartTme and EndTme inputs, therefore, a negative value for anyone of the inputs StartTme or EndTme, disables this exit. A setting of 0 for this inputs disables this stop as well. This input is ignored on daily, weekly and monthly charts. |
EndOfDayX_StartTme |
Specifies the session start time that is related to the end of day exit. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables the end of day exit feature. This input is ignored on daily, weekly and monthly charts. |
EndOfDayX_EndTime |
Specifies the session end time after which the strategy exits all open positions. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative value disables the end of day exit feature. This input is ignored on daily, weekly and monthly charts. |
ExitOnClose |
A positive setting enables the exit on close. This exit closes out all positions at the closing bar, even if the market closes early on special pre-holidays trading days. |
Strong Trend Parameters: |
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Price |
Price for which the Mid-Keltner is based on |
Length |
Mid-Keltner length |
Factor |
Outside Keltner Band range |
UpPrice |
Price for which the up trend is based on whereas “high” is a more sensitive setting and “low” requires a much stronger up move before an uptrend is detected |
DwnPrice |
Price for which the down trend is based on whereas “low” is a more sensitive setting and “high” requires a much stronger down move before a downtrend is detected. |
MinBars |
Minimum number of bars for a trend confirmation |
EntryPcnt1 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries1 specifies the number of contracts/shares to enter at the first entry level as specified by this input EntryPcnt1. |
EntryPcnt2 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries2 specifies the number of contracts/shares to enter at the second entry level as specified by this input EntryPcnt2. |
EntryPcnt3 |
With EntryMethod set to 2, the strategy initiates a position when the market enters the entry zone as displayed by the Alchemy Strong Trend Entry indicator. These entry zones are retracement zones that are being displayed when a strong trend is detected and the strategy looks for a pullback into these retracement zones, expecting a resumption of trend followed by these retracements. The percentage by which the market has to enter this entry zone is determined by this, whereas a setting of 0 enters at the closest range of the entry zone (green dot for long entry and red dot for short entry) and a setting of 100 enters at the furthest range of the entry zone (cyan dot for long entry and magenta dot for short entry). A setting of 50 enters at the halfway point between both dots. With entry method 2, this strategy can enter at multiple strong trend entry retracement levels as specified by the inputs EntryPcnt1, EntryPcnt2 and EntryPcnt3 and in this case, NumEntries3 specifies the number of contracts/shares to enter at the third entry level as specified by this input EntryPcnt3. |
Retest |
Specifies the minimum penetration amount of the outside Keltner band for a new trend to set up |
First Moving Averages Parameters: |
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FastAverage1Type |
Specifies the fast moving average type to be used for the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
FastAverage1Price |
Specifies the fast moving averages price for the first moving averages entry filter and moving averages exit. |
FastAverage1Length |
Specifies the fast moving averages length for the first moving averages entry filter and moving averages exit. |
Slow1Average1Type |
Specifies the moving average type to be used for the first slow moving average of the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
Slow1Average1Price |
Specifies the moving average price for the first slow moving average of the moving averages entry filter and moving averages exit. |
Slow1Average1Length |
Specifies the moving average length for the first slow moving average of the moving averages entry filter and moving averages exit. A setting of 0 ignores this moving average. |
Slow2Average1Type |
Specifies the moving average type to be used for the second slow moving average of the first moving moving averages entry filter and moving averages exit. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
Slow2Average1Price |
Specifies the moving average price for the second slow moving average of the moving averages entry filter and moving averages exit. |
Slow2Average1Length |
Specifies the moving average length for the second slow moving average of the moving averages entry filter and moving averages exit. A setting of 0 ignores this moving average. |
Second Moving Averages Parameters: |
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FastAverage2Type |
Specifies the fast moving average type to be used for the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
FastAverage2Price |
Specifies the fast moving averages price for the second moving averages entry filter. |
FastAverage2Length |
Specifies the fast moving averages length for the second moving averages entry filter. A setting of 0 ignores this moving average. |
MediumAverage2Type |
Specifies the moving average type to be used for the medium moving average of the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
MediumAverage2Price |
Specifies the moving average price for the medium moving average of the second moving averages entry filter. |
MediumAverage2Length |
Specifies the moving average length for the medium moving average of the second moving averages entry filter. A setting of 0 ignores this moving average. |
SlowAverage2Type |
Specifies the moving average type to be used for the slow moving average of the second moving averages entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a Mid Keltner. |
SlowAverage2Price |
Specifies the moving average price for the slow moving average of the second moving averages entry filter. |
SlowAverage2Length |
Specifies the moving average length for the slow moving average of the second moving averages entry filter. A setting of 0 ignores this moving average. |
TrendCatcher Parameters: |
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TrendLength |
Specifies the number of trailing bars to include in the Trend Catcher’s volatility calculation. |
TrendFactor |
Specifies the multiplication factor of the Trend Catcher’s volatility calculation to be used for trailing. |
UseTrendCloseTrail |
Specifies the price to set the Trend Catcher’s trailing distance from. A setting of 1 uses the close, whereas a setting of 0 uses the high in an uptrend and the low in a downtrend. |
UseTrendCloseStop |
Specifies the price to use for changing the trend direction when the Trend Catcher’s trailing stop is penetrated. When set to 1, it uses the close. When set to 0, it uses the low in an uptrend and the high in a downtrend. |
Heikin-Ashi Parameter: |
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ha_Length |
Specifies the length for the Heikin-Ashi indicator. Please note that a setting of 0 automatically disables entry method 3 and the Heikin-Ashi exit. |
Global Limit Orders: |
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Increments |
Specifies the nearest increment to round all limit orders to. For example, when set to 0.05, a limit price of 100.02 will be rounded down to 100 and a limit price of 100.03 will be rounded up to 100.05. A setting of 0 disables this rounding feature. |
EqualRounding |
When the distance to the nearest increment above and below is equal, a setting of 0 will round down to the nearest increment below and a setting of 1 will round up to the nearest increment above. |
MaxNumTests |
Specifies the maximum number of cents, ticks or pips to search for the nearest increment to round to. On stocks for example, with an increment setting of 0.05, this input can be set to 5 cents, whereas with an increment setting of 0.1, this input should be set to 10 cents. If this value is set too low, a runtime error will display. |
Divergence Entries-Exits: |
With this module enabled, as soon as bearish divergence is detected, the strategy will stop placing long entry orders until the trend reverses and at the same time, the strategy will also exit all long positions when bearish divergence is detected. Vice versa, as soon as bullish divergence is detected, the strategy will stop placing short entry orders until the trend reverses and at the same time, the strategy will also exit all short positions when bullish divergence is detected. This module detects MACD, RSI and Stochastic divergence. |
Global Divergence Parameters: |
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MinDivergences |
Specifies the minimum number of divergences to occur on the same bar in order to qualify for a valid divergence signal. Since this module detects MACD, RSI and Stochastic divergence, the maximum number of divergences that can occur on the same bar, is 3. A setting of 0 disables this feature. |
BearishPriceType |
Specifies the price to be used for bearish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
BullishPriceType |
Specifies the price to be used for bullish divergence. A setting of -1 uses the open, a setting of -2 uses the high, a setting of -3 uses the low, a setting of -4 uses the close, a setting of -5 uses the volume, a setting of -6 uses the sum of down and up ticks, a setting of -7 uses upticks and a setting of -8 uses downticks. |
MACD Divergence Parameters: |
All of the MACD divergence parameter inputs follow the same format as our Alchemy MACD Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at MACD Divergence Complete Strategy Parameters |
RSI Divergence Parameters: |
All of the RSI divergence parameter inputs follow the same format as our Alchemy RSI Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at RSI Divergence Complete Strategy Parameters |
Stochastic Divergence Parameters: |
All of the Stochastic divergence parameter inputs follow the same format as our Alchemy Stochastic Divergence Complete Strategy and for a detailed description of these inputs, please refer to our inputs description of this strategy at Stochastic Divergence Complete Strategy Parameters |
Print Log: |
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_PrintLog |
Specifies the location and name of the print log file. |
PrintLog |
Enables/disables the print log. |
Decimal |
Specifies the decimal points for printing the price values in the print log. |
The Alchemy TrendDirection Strategy mirrors the AlchemyTrendDirection indicator and it contains 5 different types of entry methods as explained in the input description "EntryType" below.
User Defined Inputs:
NumEntries |
Specifies the number of contracts/shares to enter. |
NumberAddOns |
Specifies the number of contracts/shares to add on at the initial entry bar. This add on entry is a market order that is generated at the close of the initial bar and it is filled at the open of the next bar. |
EntryType |
Specifies the entry method as follows: Breakout Market, EntryType -2: With a setting of -2, the strategy places a market order into the direction of the new trend at the close of the bar when the TrendCatcher changes directions. Breakout Stop, EntryType -1: With a setting of -1, the strategy places a stop entry order into the opposite direction of the current trend at the TrendCatcher's trailing stop. Breakout Limit, EntryType 0: With a setting of 0, the strategy places a limit order into the direction of the new trend at the previous TrendDirection's trailing stop that caused a trend change as soon as the TrendDirection changes directions. Retracement Limit, EntryType 1: With a setting of 1, the strategy places a limit order into the direction of the current trend at a pullback to the TrendDirection trailing stop at a distance as specified with the input EntryAdd. Retracement Market, EntryType 2: With a setting of 2, the strategy places a market order into the direction of the current trend when the market pulls back to the TrendDirection trailing stop at a distance as specified with the input EntryAdd. |
TrendLength |
Specifies the number of trailing bars to include in the TrendDirection volatility calculation. |
TrendFactor |
Specifies the multiplication factor of the TrendDirection volatility calculation to be used for trailing. |
UseTrendCloseTrail |
Specifies the price to set the TrendDirection trailing distance from. When set to true it uses the close. When set to false, it uses the high in an uptrend and the low in a downtrend. |
UseTrendCloseStop |
Specifies the price to use for changing the trend direction when the TrendDirection trailing stop is penetrated. When set to true it uses the close. When set to false, it uses the low in an uptrend and the high in a downtrend. |
EntryAdd |
Specifies the distance in number of ticks from the TrendDirection trailing stop as to where to enter into the direction of the current trend. This input works in conjunction with the retracement entry types 1 and 2. |
MaxBarsSinceRev |
This input works in conjunction with entry type 0 and it specifies the maximum number of bars from the time when the TrendDirection changes directions to leave the limit order in place. A negative setting ignores this requirement. |
MaxNumberEntries |
This input works in conjunction with the retracement entry types 1 and 2 and it specifies the maximum number of retracement entries within the same TrendDirection trend. A setting of 0 allows for an indefinite number of retracement entries within the same TrendDirection trend. |
FirstDayOfWeek |
Specifies the first day of the week for a gap entry filter for entry types -2 and 0. This prevents the strategy from entering at the very first bar of the beginning of the week when the TrendDirection changes direction due to a weekly opening gap. A setting of -1 disables this entry filter, a setting of 0 specifies Sunday as the first day of the week and a setting of 1 specifies Monday as the first day of the week |
SessionStartTme |
Specifies the session start time for the end of day or the end of week exit. |
SessionEndTme |
Specifies the session end time for the end of day or the end of week exit. |
MinutesBeforeSessionEnd |
Specifies the number of minutes before the session end time to close out all positions. With the end of week exit enabled, the strategy closes out all positions at the end of the last day of the week only. A negative setting disables the end of day as well as the end of week exit. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intrabar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
EndOfWeekDay |
Specifies the week day number for exiting at the end of the week. A setting of -1 disables the end of week exit, a setting of 5 uses Friday as the end of the week and a setting of 6 uses Saturday for the end of the week. |
To view chart, go to:
http://www.tradingalchemy.com/ViewChartsTrendCatcher.htm#trendsignals
The Alchemy TrendCatcher Strategy mirrors the Alchemy Trend Catcher indicator and it contains 5 different types of entry methods as explained in the input description "EntryType" below.
User Defined Inputs:
NumEntries |
Specifies the number of contracts/shares to enter. |
NumberAddOns Available for TradeStation 9/10 only! |
Specifies the number of contracts/shares to add on at the initial entry bar. This add on entry is a market order that is generated at the close of the initial bar and it is filled at the open of the next bar. |
LosingIncrements Available for TradeStation 9/10 only! |
Specifies the number of contracts/shares to add to the number of previous contracts/shares held for entering into the next trade, after each losing trade. After the first winning trade, the number of contracts/shares to enter will be reset to the number of contracts/shares as specified with the input NumEntries. A setting of 0 disables this feature. |
EntryType |
Specifies the entry method as follows: Breakout Market, EntryType -2: With a setting of -2, the strategy places a market order into the direction of the new trend at the close of the bar when the TrendCatcher changes directions. Breakout Stop, EntryType -1: With a setting of -1, the strategy places a stop entry order into the opposite direction of the current trend at the TrendCatcher's trailing stop. Breakout Limit, EntryType 0: With a setting of 0, the strategy places a limit order into the direction of the new trend at the previous TrendCatcher's trailing stop that caused a trend change as soon as the TrendCatcher changes directions. Retracement Limit, EntryType 1: With a setting of 1, the strategy places a limit order into the direction of the current trend at a pullback to the TrendCatcher trailing stop at a distance as specified with the input EntryAdd. Retracement Market, EntryType 2: With a setting of 2, the strategy places a market order into the direction of the current trend when the market pulls back to the TrendCatcher trailing stop at a distance as specified with the input EntryAdd. |
TrendLength |
Specifies the number of trailing bars to include in the TrendCatcher’s volatility calculation. |
TrendFactor |
Specifies the multiplication factor of the TrendCatcher’s volatility calculation to be used for trailing. |
UseTrendCloseTrail |
Specifies the price to set the TrendCatcher’s trailing distance from. When set to true it uses the close. When set to false, it uses the high in an uptrend and the low in a downtrend. |
UseTrendCloseStop |
Specifies the price to use for changing the trend direction when the TrendCatcher’s trailing stop is penetrated. When set to true it uses the close. When set to false, it uses the low in an uptrend and the high in a downtrend. |
EntryAdd |
Specifies the distance in number of ticks from the TrendCatcher trailing stop as to where to enter into the direction of the current trend. This input works in conjunction with the retracement entry types 1 and 2. |
MaxBarsSinceRev |
This input works in conjunction with entry type 0 and it specifies the maximum number of bars from the time when the TrendCatcher changes directions to leave the limit order in place. A negative setting ignores this requirement. |
MaxNumberEntries |
This input works in conjunction with the retracement entry types 1 and 2 and it specifies the maximum number of retracement entries within the same TrendCatcher trend. A setting of 0 allows for an indefinite number of retracement entries within the same TrendCatcher trend. |
FirstDayOfWeek Available for TradeStation 9/10 only! |
Specifies the first day of the week for a gap entry filter for entry types -2 and 0. This prevents the strategy from entering at the very first bar of the beginning of the week when the TrendCatcher changes direction due to a weekly opening gap. A setting of -1 disables this entry filter, a setting of 0 specifies Sunday as the first day of the week and a setting of 1 specifies Monday as the first day of the week |
SessionStartTme Available for TradeStation 9/10 only! |
Specifies the session start time for the end of day or the end of week exit. |
SessionEndTme Available for TradeStation 9/10 only! |
Specifies the session end time for the end of day or the end of week exit. |
MinutesBeforeSessionEnd Available for TradeStation 9/10 only! |
Specifies the number of minutes before the session end time to close out all positions. With the end of week exit enabled, the strategy closes out all positions at the end of the last day of the week only. A negative setting disables the end of day as well as the end of week exit. |
UseCurrentTime Available for TradeStation 9/10 only! |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intrabar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
EndOfWeekDay Available for TradeStation 9/10 only! |
Specifies the week day number for exiting at the end of the week. A setting of -1 disables the end of week exit, a setting of 5 uses Friday as the end of the week and a setting of 6 uses Saturday for the end of the week. |
To view chart, go to:
http://www.tradingalchemy.com/ViewChartsTrendCatcher.htm#trendsignals
The Alchemy Trend Entry/Exit Strategies are made up of 2 separate entry strategies and 2 separate exit strategies. The Alchemy Trend LE strategy initiates a long position when the market breaks through the Alchemy Trend Catcher stop line to the upside and the Alchemy Trend SE strategy initiates a short position when the market breaks through the Alchemy Trend Catcher stop line to the downside. The Alchemy Trend SX strategy exits a short position when the market breaks through the Alchemy Trend Catcher stop line to the upside and the Alchemy Trend LX strategy exits a long position when the market breaks through of the Alchemy Trend Catcher stop line to the downside. For TradeStation 2000i, all 4 signals are combined into the Alchemy Trend strategy
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all strategies:
TrendLength |
Specifies the number of trailing bars to include in the Trend Catcher’s volatility calculation. |
TrendFactor |
Specifies the multiplication factor of the Trend Catcher’s volatility calculation to be used for trailing. |
UseTrendCloseTrail |
Specifies the price to set the Trend Catcher’s trailing distance from. When set to true it uses the close. When set to false, it uses the high in an uptrend and the low in a downtrend. |
To view chart, go to:
http://www.tradingalchemy.com/ViewChartsTrendCatcher.htm#trendsignals
The Alchemy TrendDirection Entry/Exit Strategies are made up of 2 separate entry strategies and 2 separate exit strategies. The Alchemy TrendDirection LE strategy initiates a long position when the market breaks through the Alchemy TrendCatcher's TrendDirection stop line to the upside and the Alchemy TrendDirection SE strategy initiates a short position when the market breaks through the Alchemy TrendCatcher's TrendDirection stop line to the downside. The Alchemy TrendDirection SX strategy exits a short position when the market breaks through the Alchemy TrendCatcher's TrendDirection stop line to the upside and the Alchemy TrendDirection LX strategy exits a long position when the market breaks through the Alchemy TrendCatcher's TrendDirection top line to the downside.
User Defined Inputs for the long and short entry strategies:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all strategies:
TrendLength |
Specifies the number of trailing bars to include in the Trend Catcher’s TrendDirection calculation. |
TrendFactor |
Specifies the Trend Catcher’s TrendDirection 1 sensitvity factor. For a more long term trend calculation, this factor can be increased and for a more short term trend calculation, this factor can be decreased. |
UseTrendCloseTrail |
Specifies the price to set the Trend Catcher’s TrendDirection trailing distance from. When set to true it uses the close. When set to false, it uses the high in an uptrend and the low in a downtrend. |
The Alchemy Bollinger Band Strategy generates a long entry signal when price penetrates down through the lower Bollinger Band for a specified number of consecutive bars and a specified oscillator such as the Stochastic is in oversold territory. For an additional long entry requirement, a fast oscillator can be specified for having to cross over the slow oscillator. Vice versa, the strategy generates a short entry signal when price penetrates up through the upper Bollinger Band for a specified number of consecutive bars and a specified oscillator such as the Stochastic is in overbought territory. For an additional short entry requirement, a fast oscillator can be specified for having to cross under the slow oscillator. This strategy also contains a MACD entry filter and for an explanation on this filter, please reference the strategy inputs below.
The strategy also contains the following exits:
Initial protective stop, profit target, CCI exit, trailing stop and end of day exit.
User Defined Inputs:
Bollinger Band Parameters:
BB_Price | Specifies the price to be used for calculating the Bollinger mid line. |
BB_Length | Specifies the length for calculating the Bollinger mid line. |
BB_NumDevsUp |
Specifies the upper Bollinger Band width. |
BB_NumDevsDn | Specifies the lower Bollinger Band width. |
HighPrice | Specifies the price to be used for penetrating the upper Bollinger Band. |
LowPrice | Specifies the price to be used for penetrating the lower Bollinger Band. |
MinimumLongBars | Specifies the minimum number of consecutive bars that are required to penetrate the lower Bollinger Band for a long entry signal. |
MinimumShortBars | Specifies the minimum number of consecutive bars that are required to penetrate the upper Bollinger Band for a short entry signal. |
Oscillator Parameters:
UseOVBOVS | A positive setting enables the overbought/oversold requirement for an entry signal and a setting of 0 disables the overbought/oversold requirement for an entry signal. |
UseOscCross | A positive setting enables the requirement for the faster oscillator as specified in CrossOsc to cross the slower oscillator as specified in OVBOVSOsc for an entry signal and a setting of 0 disables this requirement. |
OVBOVSOsc | Specifies the oscillator to be used for overbought/oversold detection. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow D, you would pick the SlowDCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowDCustomOrig(high,low,close,14,3,3). |
CrossOsc | Specifies the oscillator to be used for a crossing requirement of this oscillator with the overbought/oversold oscillator. For example, if a slow D is selected for OVBOVSOsc and a slow K is selected for CrossOsc, then an oversold condition is detected when the slow D is in oversold territory and the slow K crosses over the slow D. To select your choice of oscillator, click on the Dictionary... button and select the User Function category. Then select the corresponding function that represents this oscillator and click on OK. You will need to type in the oscillator parameters into the parenthesis. For example, to use a 14/3/3 slow K, you would pick the SlowKCustomOrig function and replace PriceH with high, PriceL with low, PriceC with close, StochLength with 14, SmoothingLength1 with 3 and SmoothingLength2 with 3 so that it reads SlowKCustomOrig(high,low,close,14,3,3). |
OscOverSold |
Specifies the oversold territory for the overbought/oversold oscillator. |
OscOverBought | Specifies the overbought territory for the overbought/oversold oscillator. |
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Entry Inputs: |
NumberEntries |
Specifies the number of contracts/shares per entry |
LongEntryPrice |
Specifies the limit entry price as to where to enter at the next bar after an oversold long entry signal, whereas a setting of 0 generates a market buy order. |
ShortEntryPrice |
Specifies the limit entry price as to where to enter at the next bar after an overbought short entry signal, whereas a setting of 0 generates a market sell short order. |
Reverse |
A positive value enables a reversal entry and value of 0 disables a reversal entry. |
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Entry Filters Inputs: |
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MACD Entry Filter: |
MACD_Filter |
With a setting of 1, the MACD needs to be above the MACD average in order to allow for long trades and the MACD needs to be below the MACD average in order to allow for short trades. With a setting of -1, the MACD needs to be below the MACD average in order to allow for long trades and the MACD needs to be above the MACD average in order to allow for short trades. This setting is useful when the MACD is based on a second data series, using an inverse instrument. A setting of 0 disables this entry filter. |
MACD_Price |
Specifies the price to be used for calculating the MACD. In order to base the MACD on a second data series, this input can be defined as close of data(2), whereas the number 2 would refer to the data series number of the second data series. |
MACD_FastLength |
Specifies the MACD fast length, whereas a setting of 0 disables this entry filter. |
MACD_SlowLength |
Specifies the MACD slow length, whereas a setting of 0 disables this entry filter. |
MACD_Length |
Specifies the MACD average length, whereas a setting of 0 disables this entry filter. |
MACD_SessStartTme |
Specifies the session start time for the data that the MACD is based on. This is useful for when the primary data trades 24 hours and the data that the MACD is based on trades during the day only. The MACD filter will be effective only during the times when the data that the MACD is based on, is trading. Otherwise, the MACD filter will be ignored. A setting of -1 ignores the session start time and the MACD filter will be effective without any time restrictions. The formatting of this input is in military charting time without the colon. For example, 1:00pm would be entered as 1300. This input is automatically ignored for daily, weekly and monthly charts. |
MACD_SessEndTme |
Specifies the session end time for the data that the MACD is based on. This is useful for when the primary data trades 24 hours and the data that the MACD is based on trades during the day only. The MACD filter will be effective only during the times when the data that the MACD is based on, is trading. Otherwise, the MACD filter will be ignored. A setting of -1 ignores the session end time and the MACD filter will be effective without any time restrictions. The formatting of this input is in military charting time without the colon. For example, 1:00pm would be entered as 1300. This input is automatically ignored for daily, weekly and monthly charts. |
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Trading Times Entry Filter: |
StartTme |
Specifies the first entry time. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
EndTme |
Specifies the last entry time as well as the latest time at which all open positions are closed. The format of this input is in military charting time. For example, to the time of 4:00pm, would be entered as 1600. A setting of 0 disables this requirement. This input is automatically ignored for daily, weekly and monthly charts. |
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Maximum Daily Loss Entry Filter: |
MaximumDailyLoss |
Specifies the maximum daily dollar loss at which the strategy stops generating new entry orders for the day, whereas a negative setting disables this entry filter. This input is ignored on daily, weekly and monthly charts. |
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Minimum Consecutive Signal Bars Entry Filter: |
MinimumConsecutiveLongBars |
Specifies the minimum number of consecutive bars for all buy criteria to be in place before a buy signal is placed. |
MinimumConsecutiveShortBars |
Specifies the minimum number of consecutive bars for all sell criteria to be in place before a sell signal is placed. |
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Entry Delay Filter: |
DelayBarsLong |
Specifies the number of bars to wait before a new long entry order is placed, if a long entry limit order is not filled. |
DelayBarsShort |
Specifies the number of bars to wait before a new short entry order is placed, if a short entry limit order is not filled. |
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Exit Inputs: |
MaximumDailyLossExit |
A setting of 1 exits all open position when the accumulated daily loss plus the open position loss exceeds the maximum daily loss as specified with the input "MaximumDailyLoss". This input set to 0 or the input "MaximumDailyLoss" set to a negative value, disables this exit. This exit is automatically disabled on daily, weekly and monthly charts. |
ExitOnClose |
A setting of 1 exits all positions at the closing bar, even on days when the market closes early. A setting of 0 disables the exit on close. |
ExitAfterEntryBar |
A setting of 1 initiates all exit orders at the close of the entry bar. A setting of 0 initiates all exit orders at the same time as the entry signal, using the closing price of the signal bar as the hypothetical entry price. With this feature turned on, the entry price is re-calculated at the close of the entry bar, using the opening price of the entry bar. |
StopLoss |
Specifies the initial stop in number of ticks/pips/cents from the entry price. A setting of 0 disables the initial stop. |
NumberPointExit |
Specifies the number of contracts/shares to exit at the profit target. With a setting of 0, the strategy exits all open positions at the profit target. |
TargetDistance |
Specifies the profit target distance in number of ticks/pips/cents from the entry price. A setting of 0 disables the profit target. |
CCI_Exit | With this input set to a positive value, the strategy initiates a long exit when the CCI reaches an overbought value as specified with the input CCI_LongExitValue and it initiates a short exit when the CCI reaches an oversold value as specified with the input CCI_ShortExitValue |
NumberCCI_Exit | Specifies the number of contracts/shares to exit with the CCI exit. With a setting of 0, the strategy exits all open positions with the CCI exit. |
CCI_LongExitValue | The strategy initiates a long exit when the CCI reaches an overbought value as specified with this input |
CCI_ShortExitValue | The strategy initiates a short exit when the CCI reaches an oversold value as specified with this input |
CCILength | Specifies the CCI length |
CCIAvgLength | With a setting of 0, the CCI is being used and with a positive setting the CCI average as specified by this input is being used. |
MinTrailProfit |
Specifies the minimum profit in number of ticks/pips/cents from the entry price price before the trailing stop is engaged. |
TrailStop |
Specifies the trailing stop distance in number of ticks/pips/cents that is being trailed from the position high. A setting of 0 disables the trailing stop. |
The Alchemy Breakout Entry Signals consist of the AlchemyBreakoutBuy long entry strategy and the AlchemyBreakoutSell short entry strategy. The AlchemyBreakoutBuy strategy buys at a breakout of a historical high and the AlchemyBreakoutSell strategy sells at a breakout of a historical low. Both strategies are also combined into the AlchemyBreakoutStrat which can be set to stop and reverse at either breakout.
User Defined Inputs:
StopOrBarCloseEntry |
With a setting of 1, the strategies place a market stop entry order at the historical high or low, with a setting of 21, the strategies place a market entry order at the close of the bar when the bar open reaches the historical high or the bar close reaches the historical low, with a setting of 22, the strategies place a market entry order at the close of the bar when the bar high reaches the historical high or the bar close reaches the historical low, with a setting of 23, the strategies place a market entry order at the close of the bar when the bar low reaches the historical high or the bar close reaches the historical low and with a setting of 24, the strategies place a market entry order at the close of the bar when the bar close reaches the historical high or the bar close reaches the historical low. |
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
EntryAdd |
This user-defined input sets the point distance to place the buy stop entry above a historical high or below a historical low and it is defaulted to 0. |
MaxConsecReEntries |
Specifies the maximum allowed number of consecutive re-entries into the same direction before price as specified by MidLineResetPrice touches the mid line of the Alchemy Breakout indicator or before a trade into the opposite direction occurs (MidLineResetPrice set to 0), whereas a negative setting disables this requirement and allows an unlimited number of consecutive re-entries into the same direction. |
MidLineResetPrice |
Specifies the price to be touched by the mid line of the Alchemy Breakout indicator that resets the maximum allowed number of consecutive re-entries into the same direction as specified by the input MaxConsecReEntries. With this input set to 0, only a trade into the opposite direction will reset the maximum allowed number of consecutive re-entries into the same direction as specified by the input MaxConsecReEntries. |
HighPrice |
Specifies the price to be used to calculate the historical high of the Alchemy Breakout indicator. |
LowPrice |
Specifies the price to be used to calculate the historical low of the Alchemy Breakout indicator. |
Length |
This user-defined input sets the number of bars for historical highs and lows and it is defaulted to 20 bars. |
StartTme |
Specifies the earliest allowed entry time. The format is in military charting time, for example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
EndTme |
Specifies the latest allowed entry time. The format is in military charting time, for example, 1:00pm would be entered as 1300. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
The Alchemy Opening Bar Breakout Strategy enters long at a breakout of the opening bar high and it enters short at the breakdown of the opening bar low. This strategy contains a protective stop, a pivot trailing stop, a breakeven stop, 2 profit targets, a distance trailing stop, a maximum daily accumulated profit/loss exit, a moving averages exit and an end of day exit.
Strategy Inputs:
Entries: |
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NumberEntries |
Specifies the number of shares/contracts to enter. This input is automatically overridden when the DollarRisk input as explained below, is used. |
DollarRisk |
Specifies the number shares/contracts to enter based on the risk. For an equity trade example, with a specified dollar risk of 100, the strategy enters 1,000 shares when the risk of a specific trade is 10 cents ($100 divided by 0.1=1,000). For a S&P E-Minis trade example, with a specified dollar risk of 100, the strategy enters 2 contracts when the risk of a specific trade is 1 point ($100 divided by 1x$50). The risk is defined as the initial stop distance. For example, with the protective stop disabled, this initial stop distance is the distance between the opening bar high long entry price and the opening bar low short entry price. However, if the protective stop is enabled and the distance between the opening bar high long entry price and the opening bar low short entry price is larger than the protective stop distance, the protective stop distance becomes the risk, because it is the closest stop at the time of the entry. This input automatically overrides the fixed NumberEntries setting and with a setting of 0, the fixed NumberEntries setting is used for specifying the number of shares/contracts to enter. |
RiskRoundToNearest |
This input works in conjunction with the above DollarRisk input and it specifies the decimal number of shares/contracts to to round to. For example, with a setting of 100, the number of shares/contracts are being rounded to the nearest 100 and in this case, if the number of shares/contracts would be calculated as 750, the strategy would enter with 700 shares/contracts. |
EntryAddDistance |
Specifies the number of cents, ticks or pips to add to the opening bar high low for an entry stop as well as for the opening bar stop. |
Entry Filters: |
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ReEnterSameDirection |
A setting of 1 allows for consecutive trades into the same direction. For example, once a long trade is exited, the market is required to move below the opening bar high before a new long trade can be triggered. Vice versa, once a short trade is exited, the market is required to move above the opening bar low before a new short trade can be triggered. With a setting of 0, a long trade can only be followed by a short trade and vice versa, a short trade can only be followed by a long trade. |
MaxNumberTrades |
Specifies the maximum number of allowed daily trades, whereas a setting of 0 disables this requirement. |
TradingEndTme |
Specifies the latest time in the day as to when no more new trades are allowed. A negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
MaximumProfit |
Specifies the maximum daily accumulated dollar profit as to when an open position is closed and no further trades are allowed for the rest of the day. A setting of 0 disables this requirement. |
MaximumLoss |
Specifies the maximum daily accumulated dollar loss as to when an open position is closed and no further trades are allowed for the rest of the day. A setting of 0 disables this requirement. |
AllowDelayedEntry |
This input is utilized in conjunction with the moving averages exit to avoid a delayed entry when the moving averages don't cross into the direction of the entry until after the market breaks through the opening bar entry price. A setting of 1 does allow such delayed entries. |
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Moving Average Entry Filter: The strategy only enters long when the opening bar high long entry price is above this moving average and vice versa, the strategy only enters short when the opening bar low short entry price is below this moving average. |
EntryAvgType |
Specifies the moving average type. A setting of 0 disables the moving average entry filter, a setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average. |
EntryAvgPrice |
Specifies the price to be used for the moving average. |
EntryAvgLength |
Specifies the moving average length, whereas a setting of 0 disables the moving average entry filter. |
Exits: |
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Opening Bar Stop: |
UseOpeningbarStop |
A setting of 1 enables the opening bar stop and a setting of 0 disables the opening bar stop. |
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Protective Stop: |
StopDistance |
Specifies the distance from the entry price in cents, ticks or pips as to where to place the maximum protective stop, whereas a setting of 0 disables this stop. |
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Breakeven Stop: |
UseBreakEvenStop |
A setting of 1 enables the breakeven stop and a setting of 0 disables the breakeven stop. |
BreakEvenAdd |
Specifies the distance in cents, ticks or pips to add to the entry price in favour of the currently held trade for placing the break even stop. |
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Retracement Pivot Trailing Stop: |
UseRetracementPivotStop |
A setting of 1 enables the retracement pivot stop and a setting of 0 disables the retracement pivot stop. |
MinRetracePivotBreak |
Specifies the minimum distance in cents, ticks or pips for a previous high or low to be broken in order to look for a new retracement pivot stop. With a setting of 0, the previous high or low has to be broken by 1 cent, tick or pip. |
PivotStopAdd |
Specifies the distance in cents, ticks or pips to add to the retracement pivot for placing the retracement pivot stop. |
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Distance Trailing Stop: |
MinTrailingStopProfit |
Specifies the minimum position profit in cents, ticks or pips from the entry price as to when the distance trailing stop is inititiated, whereas a setting of 0 initiates the distance trailing stop with the entry bar. |
TrailingStopDistance |
Specifies the trailing distance in cents, ticks or pips from the position high to trail a position, whereas a setting of 0 disables the distance trailing stop . |
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Profit Targets: |
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target1Distance |
Specifies the first profit target distance in cents, ticks or pips from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the second profit target distance in cents, ticks or pips from the entry price, whereas a setting of 0 disables the second profit target. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
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Moving Averages Exit: The strategy exits a long position when the fast moving average crosses below the slow moving average and the strategy exits a short position when the fast moving average crosses above the slow moving average. |
ExitFastAvgType |
Specifies the fast moving average type. A setting of 0 disables the moving averages exit, a setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average and a setting of 7 uses price as specified with the input ExitFastAvgPrice |
ExitSlowAvgType |
Specifies the slow moving average type. A setting of 0 disables the moving averages exit, a setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average and a setting of 7 uses price as specified with the input ExitSlowAvgPrice. |
ExitFastAvgPrice |
Specifies the price to be used for the fast moving average. |
ExitSlowAvgPrice |
Specifies the price to be used for the slow moving average. |
ExitFastAvgLength |
Specifies the fast moving average length, whereas a setting of 0 disables the moving averages exit. |
ExitSlowAvgLength |
Specifies the slow moving average length, whereas a setting of 0 disables the moving averages exit. |
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End Of Day Exit: |
ExitMinutesBeforeClose |
Specifies the number of minutes before the session end time as to when to exit all positions for the day. A negative setting disables the end of day exit. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intrabar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
Data: |
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SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
SessionEndTme |
Specifies the session end time. A negative setting uses the calendar date for the end of the last session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
ExcludeDayOfWeek |
Specifies the day of the week to exclude, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
The Alchemy Pivot Reversal strategy enters long at the most recent pivot high and it enters short at the most recent pivot low. It contains a time of day entry filter, moving average entry filter, profit target moving average exit and an end of day exit.
Strategy Inputs:
LongShort |
A setting of -1 allows short entries only, a setting of 1 allows long entries only and a setting of 0 allows both, long and short entries. |
NumberEntries |
Specifies the number of contracts/shares to enter. |
Strength |
Specifies the pivot strength. |
EntryAdd |
Specifies the distance in number of cents, ticks or pips to add to the pivot high/low for the entry stop. |
MovAvgPrice | Specifies the price to be used for the moving average. |
MovAvgLengthLong | Specifies the moving average length for long trades, whereas a setting of 0 disables the moving average filter for long trades. |
MovAvgTypeLong | Specifies the moving average type for long trades. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input MovAvgPrice and a setting of 0 disables the moving average filter for long trades. |
MovAvgLengthShort | Specifies the moving average length for short trades, whereas a setting of 0 disables the moving average filter for short trades. |
MovAvgTypeShort | Specifies the moving average type for short trades. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input MovAvgPrice and a setting of 0 disables the moving average filter for short trades. |
MovAvgLongPrice | Specifies the price that has to be above the average such as close or high in order to qualify for a long entry signal or a long exit. |
MovAvgShortPrice | Specifies the price that has to be below the average such as close or low in order to qualify for a short entry signal or a short exit. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TargetDollarAmount | Specifies the point/dollar distance of the profit target. A setting of 0 disables the profit target. |
PositionBasis | A setting of true calculates the profit target on a position basis and a setting of false calculates the profit target on a per share/contract basis. |
MovAvgExit | A positive setting enables the moving average exit which exits all long positions when price is below the moving average and it exits all short positions when price is above the moving average. With a setting of 1 this exit is executed at the close of the bar and with a setting of 2, this exit is executed at the open of the next bar. A setting to 0 disables the moving average exit. |
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. This input is used for calculating the End of Day Exit. |
EndOfDayExitTme |
Specifies the latest time of the day as to when to close out all open positions, whereas a negative setting disables the end of day exit. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intra-bar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
ExitOnClose |
When set to true, the exit order is generated at the close of the bar and when set to false, the exit order is generated as a market order to be displayed at the open of the next bar. However, when utilizing the feature of exiting before the close of the bar with intra-bar order generation and UseCurrentTime enabled, this input needs to be set to false, otherwise, the strategy will wait for a true close of the bar before exiting. |
The Alchemy Pivots Entry/Exit Strategies consist of the AlchemyPivotBuy long entry signal, the AlchemyPivotLongX long exit signal, the AlchemyPivotSell short entry signal and the AlchemyPivotShrtX short exit signal. The Alchemy Pivots Entry Signals generate a buy limit order to enter long below the next lower pivot support and they generate a sell limit order to enter short above the higher pivot resistance. The Alchemy Pivots Exit Signals generate a buy limit order to exit short below the next lower pivot support and they generate a sell limit order to exit long above the higher pivot resistance.
User Defined Inputs for the long and short entry signals:
DollarEntry |
Calculates the number of contracts/shares to enter, based on the Dollar Amount divided by the entry price. A setting of 0, ignores this input and uses the NumberEntry input instead. |
NumberEntry |
Specifies the number of contracts/shares to enter, if DollarEntry is set to 0. |
User Defined Inputs for the buy and short exit signals:
PivBuy |
Enables/disables the buy/exit short signals at pivot supports. |
DayBuy |
Enables/disables the buy/exit short signals at working daily lows. |
User Defined Inputs for the sell and long exit signals:
PivSell |
Enables/disables the sell/exit long signals at pivot resistances. |
DaySell |
Enables/disables the sell/exit long signals at working daily highs. |
User Defined Inputs all signals:
PivStren |
Specifies the number of bars with lower lows on either side of a pivot high and the number of bars with higher highs on either side of a pivot low. |
PivAdd |
Specifies the point amount to add to a support and the point amount to subtract from a resistance for entries and exits. |
MaxPiv |
Specifies the maximum number of higher pivot resistances and lower pivot supports to store. |
MaxDays |
Specifies the maximum number of higher working daily highs and lower working daily lows to store. |
The Alchemy Pivots Strategy generates a buy signal to either enter long or reverse from a short position to a long position at the next lower pivot support as defined by the Alchemy Pivots indicator and it generates a sell signal to enter short or reverse from a long position to a short position at the next higher pivot resistance as defined by the Alchemy Pivots indicator. It contains the following filters:
5 divergence filters (Price divergence, MACD divergence, CCI divergence, RSI divergence and Stochastics divergence) that require bullish divergence for all enabled filters in order to issue a buy signal when the market touches a support and bearish divergence for all enabled filters in order to issue a sell signal when the market touches a resistance.
A Strong Trend filter that voids a buy signal if a strong downtrend is detected and it voids a sell signal if a strong up trend is detected.
A Stochastics overbought/oversold filter that requires for the Alchemy Stochastics %D to be in oversold territory in order to issue a buy signal when the market touches a support and it requires for the Alchemy Stochastics %D to be in overbought territory in order to issue a sell signal when the market touches a resistance.
A Stochastics-CCI dual overbought/oversold filter that requires for the Alchemy OVB/OVS indicator, using a Slow Stochastics and a CCI, to display oversold conditions in order to issue a buy signal when the market touches a support and it requires for the Alchemy OVB/OVS indicator, using a Slow Stochastics and a CCI, to display overbought conditions in order to issue a sell signal when the market touches a resistance.
With all filters disabled, the strategy sells short at the next higher resistance and it buys long at the next lower support. With anyone of the filters enabled, the strategy places a market order as soon as the market touches, approaches or breaks (as specified by the MaxBreak and the MaxReverse inputs, see input descriptions) the next higher resistance or the next lower support and the conditions as per the enabled filters are met.
This strategy also contains a protective stop, break even stop, profit target, trailing stop and end of day exit.
User Defined Inputs:
DollarEntry |
Calculates the number of contracts/shares to enter, based on the Dollar Amount divided by the entry price. A setting of 0, ignores this input and uses the NumberEntry input instead. |
NumberEntry |
Specifies the number of contracts/shares to enter, if DollarEntry is set to 0. |
MarketEntry |
With a setting of 0, the strategy places a limit buy order to go long at the next lower support and it places a limit sell order to go short at the next higher resistance. With a setting of 1, the strategy places a market buy order to go long when price reaches the next lower support and it places a market sell order to go short when price reaches the next higher resistance. This input is ignored with anyone of the filters enabled. With anyone of the filters enabled, the strategy places a market order as soon as the market touches, approaches or breaks (as specified by the MaxBreak and the MaxReverse inputs, see input descriptions) the next higher resistance or the next lower support and the conditions as per the enabled filters are met. |
Reverse |
A positive setting allows for a reversal entry. |
AddOn |
A positive setting allows for add-on signals into the same direction as the currently held position. |
RT_PurchasingPower Available for TradeStation 9/10 only! |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the input MarginRequire as well as the MarginRequirePcnt entered into the input MarginRequirePcnt. This input specifies the reserved word that retrieves the real time purchasing power based on your type of trading account. For futures and forex accounts the reserved word would be GetRTPurchasingPower(GetAccountID). For a complete list of reserved words, you can go to the TradeManager category of the EasyLanguage dictionary. For an example of this application, please refer to the inputs description below. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
MarginRequire Available for TradeStation 9/10 only! |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into this input as well as the MarginRequirePcnt entered into the input below. For example, with a current real time purchasing power of $100,000, a MarginRequire setting of 10000 ($10,000 per contract/share) and a MarginRequirePcnt setting of 50 (50%), the strategy will automatically enter with 5 contracts ($100,000 real time purchasing power divided by $10,000 margin requirement per contracts equals a maximum of 10 contracts. 50% of 10 contracts results in 5 contracts). This feature overwrites the number of contracts/shares entered into NumberEntry. This feature is to be used for real time trading and not for back testing as the TradeManager only returns real time information. With a setting of 0 or if the strategy does not detect a valid TradeStation account, this feature is disabled and the strategy will use a fixed number of contracts/shares based on the input NumberEntry. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
MarginRequirePcnt Available for TradeStation 9/10 only! |
With this input, the strategy automatically calculates the number of contracts/shares to enter into a position based on the available real time purchasing power and the margin requirement entered into the above input as well as the MarginRequirePcnt entered into this input. For example, with a current real time purchasing power of $100,000, a MarginRequire setting of 10000 ($10,000 per contract/share) and a MarginRequirePcnt setting of 50 (50%), the strategy will automatically enter with 5 contracts ($100,000 real time purchasing power divided by $10,000 margin requirement per contracts equals a maximum of 10 contracts. 50% of 10 contracts results in 5 contracts). This feature overwrites the number of contracts/shares entered into NumberEntry. This feature is to be used for real time trading and not for back testing as the TradeManager only returns real time information. With a setting of 0 or if the strategy does not detect a valid TradeStation account, this feature is disabled and the strategy will use a fixed number of contracts/shares based on the input NumberEntry. This feature is not available for TradeStation 2000i, TradeStation 4.0 or SuperCharts. |
nPivBuy |
Enables(1)/disables(0) the buy/exit short signals at pivot supports. |
nDayBuy |
Enables(1)/disables(0) the buy/exit short signals at working daily lows. |
nPivSell |
Enables(1)/disables (0) the sell/exit long signals at pivot resistances. |
nDaySell |
Enables(1)/disables(0) the sell/exit long signals at working daily highs. |
PivLeftStrength |
Sets the required number of bars on the left side of the pivot bar. |
PivRightStrength |
Sets the required number of bars on the right side of the pivot bar. |
MinPenetration |
Specifies the number of cents, ticks or pips by which price has to penetrate a support or resistance in order to look for the next higher resistance or lower support. With a setting of 0, price has to penetrate a support or resistance by a minimum amount such as 1 cent, tick or pip. |
PivAdd |
Specifies the number of ticks to add to a support and the number of ticks to subtract from a resistance for entries and exits. This input works for limit orders that are generated when all filters are disabled. |
MaxPiv |
Specifies the maximum number of higher pivot resistances and lower pivot supports to store. |
MaxDays |
Specifies the maximum number of higher working daily highs and lower working daily lows to store. |
SessionStartTme |
Specifies the session start time for calculating the working daily support and resistances. A negative setting uses the calendar date for the beginning of a new session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
SessionEndTme |
Specifies the session end time for calculating the working daily support and resistances. A negative setting uses the calendar date for the beginning of a new session. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
ExcludeDayOfWeek |
Specifies the day of the week to exclude or calculating the working daily support and resistances, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
MaxBreak |
Specifies the maximum allowed number of ticks by which the market can break through a support or a resistance before a buy or sell signal is cancelled. This input works in conjunction with anyone of the filters enabled. |
MaxReverse |
Specifies the distance in number of ticks by which the market can approach a support or a resistance and a buy or sell signal is generated, if all conditions as per enabled filters are met. This input works in conjunction with anyone of the filters enabled. |
StartTme |
Specifies the earliest time of the day for the strategy to generate a signal. A negative setting disables this feature. This input is ignored on daily, weekly and monthly charts. |
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Exits: |
MinMoveOrDollarPointsOrPercent |
Specifies how all exit distances such as StopDist, MinBreakEvenStopProf, BreakEvenStopAdd, MinTrailStopProf, TrailStopDist and ProfitTargetDist are expressed, whereas with a setting of 1 these distances are expressed in number of cents, ticks or pips, with a setting of 2 these distances are expressed in dollars per share or points per contract and with a setting of 3 these distances are expressed in percentages of the current price. |
StopDist |
Specifies the distance to place the initial stop from the entry price. A setting of 0 disables the initial stop. |
MinBreakEvenStopProf |
Specifies the minimum required profit distance from the entry price before initiating the break even stop. A setting of 0 disables the break even stop. |
BreakEvenStopAdd |
Specifies the distance to add to the entry price for placing the break even stop. |
BreakEvenStopPercentExit |
Specifies the percent contracts/shares to exit at the break even stop. |
MinTrailStopProf |
Specifies the minimum required profit distance from the entry price before initiating the trailing stop. |
TrailStopDist |
Specifies the distance from the position high to trail the trailing stop. A setting of 0 disables the trailing stop. |
TrailStopPercentExit |
Specifies the percent contracts/shares to exit at the trailing stop. |
ProfitTargetDist |
Specifies the distance to place the profit target from the entry price. A setting of 0 disables the profit target. |
ProfitPercentExit |
Specifies the percent contracts/shares to exit at the profit target. |
LimitTarget |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
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Entry Filters: |
nOVBOVSStochCCI_Filter |
When enabled, the Alchemy OVB/OVS indicator, using a Slow Stochastic and a CCI, needs to display oversold conditions in order to issue a buy signal when the market touches a support and it needs to display overbought conditions in order to issue a sell signal when the market touches a resistance. With a setting of 1, this criteria alone or any other filter that is set to 1 and meets its criteria, suffices for an entry signal. With a setting of 2, this is a required criteria and all other filter criteria that are set to 2 have to be met on the same bar as well. A setting of 0 disables this entry filter. For a detailed description of all the Stochastic-CCI overbought-oversold parameters, please refer to the inputs definitions of our Alchemy Overbought/Oversold Indicator |
nPriceDivFilter |
When enabled, bullish Price divergence is required in order to issue a buy signal when the market touches a support and bearish Price divergence is required in order to issue a sell signal when the market touches a resistance. With a setting of 1, this criteria alone or any other filter that is set to 1 and meets its criteria, suffices for an entry signal. With a setting of 2, this is a required criteria and all other filter criteria that are set to 2 have to be met on the same bar as well. A setting of 0 disables this entry filter. For a detailed description of all the Price divergence parameters, please refer to the inputs definitions of our Alchemy PriceDivergence indicator. |
nMACDDivFilter |
When enabled, bullish macd divergence is required in order to issue a buy signal when the market touches a support and bearish macd divergence is required in order to issue a sell signal when the market touches a resistance. With a setting of 1, this criteria alone or any other filter that is set to 1 and meets its criteria, suffices for an entry signal. With a setting of 2, this is a required criteria and all other filter criteria that are set to 2 have to be met on the same bar as well. A setting of 0 disables this entry filter. For a detailed description of all the macd divergence parameters, please refer to the inputs definitions of our MACD divergence entry/exit strategies above. |
nCCIDivFilter |
When enabled, bullish CCI divergence is required in order to issue a buy signal when the market touches a support and bearish CCI divergence is required in order to issue a sell signal when the market touches a resistance. With a setting of 1, this criteria alone or any other filter that is set to 1 and meets its criteria, suffices for an entry signal. With a setting of 2, this is a required criteria and all other filter criteria that are set to 2 have to be met on the same bar as well. A setting of 0 disables this entry filter. For a detailed description of all the CCI divergence parameters, please refer to the inputs definitions of our CCI divergence entry/exit strategies above. |
nRSIDivFilter |
When enabled, bullish RSI divergence is required in order to issue a buy signal when the market touches a support and bearish RSI divergence is required in order to issue a sell signal when the market touches a resistance. With a setting of 1, this criteria alone or any other filter that is set to 1 and meets its criteria, suffices for an entry signal. With a setting of 2, this is a required criteria and all other filter criteria that are set to 2 have to be met on the same bar as well. A setting of 0 disables this entry filter. For a detailed description of all the RSI divergence parameters, please refer to the inputs definitions of our RSI divergence entry/exit strategies above. |
nStochDivFilter |
When enabled, bullish Stochastics divergence is required in order to issue a buy signal when the market touches a support and bearish Stochastics divergence is required in order to issue a sell signal when the market touches a resistance. With a setting of 1, this criteria alone or any other filter that is set to 1 and meets its criteria, suffices for an entry signal. With a setting of 2, this is a required criteria and all other filter criteria that are set to 2 have to be met on the same bar as well. A setting of 0 disables this entry filter. For a detailed description of all the Stochastics divergence parameters, please refer to the inputs definitions of our Stochastics divergence entry/exit strategies above. |
nOVBOVSStochFilter |
When enabled, it requires for the Alchemy Stochastics %D to be in oversold territory in order to issue a buy signal when the market touches a support and it requires for the Alchemy Stochastics %D to be in overbought territory in order to issue a sell signal when the market touches a resistance. With a setting of 1, this criteria alone or any other filter that is set to 1 and meets its criteria, suffices for an entry signal. With a setting of 2, this is a required criteria and all other filter criteria that are set to 2 have to be met on the same bar as well. |
OVBOVSStochLength |
Specifies the Stochastics length for the Overbought/Oversold Stochastics. |
OVBOVSKAdjust |
Specifies the K length for the Overbought/Oversold Stochastics. |
OVBOVSDAdjust |
Specifies the D length for the Overbought/Oversold Stochastics. |
OVBOVSStochOverB |
Specifies the overbought territory for the Overbought/Oversold Stochastics. |
OVBOVSStochOverS |
Specifies the oversold territory for the Overbought/Oversold Stochastics. |
nStrongTrendFilter |
When enabled, the strategy voids a buy signal if a strong downtrend is detected and it voids a sell signal if a strong up trend is detected. With a setting of 1, this criteria alone or any other filter that is set to 1 and meets its criteria, suffices for an entry signal. With a setting of 2, this is a required criteria and all other filter criteria that are set to 2 have to be met on the same bar as well. A setting of 0 disables this entry filter. For a detailed description of all the Strong Trend parameters, please refer to the inputs definitions of our Strong Trend Entry Strategy above. |
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End Of Day Exit: |
ExitTme |
Specifies the time to exit all positions. A negative value disables the end of day exit. Daily, weekly and monthly charts ignore this input setting. |
The Alchemy Floor Traders Pivot Points Reversal Entry Strategy sells short (Rev Sell) at the daily R2 and it buys long (Rev Buy) at the daily S2. Here is an explanation of strategy inputs:
EntNum |
Specifies the number of contracts/shares per entry |
FirstEnt |
Specifies the time for the first allowed entry |
LastEnt |
Specifies the time for the last allowed entry |
HDat |
Specifies the data series number to be used for the session high calculation of the Floor Traders pivots calculation, whereas a setting of 0 or 1 uses the price series that the strategy is applied on. Please note that when using the SessStrt and SessEnd features, this multiple data series feature is disabled. |
DayH |
Specifies the number of periods ago for the session high calculation of the Floor Traders pivots calculation, whereas a setting of 1 uses the previous session. Please note that when using the SessStrt and SessEnd features, this input is bypassed and the number of sessions ago is specified with the input PeriodsAgo. |
LDat |
Specifies the data series number to be used for the session low calculation of the Floor Traders pivots calculation, whereas a setting of 0 or 1 uses the price series that the strategy is applied on. Please note that when using the SessStrt and SessEnd features, this multiple data series feature is disabled. |
DayL |
Specifies the number of periods ago for the session low calculation of the Floor Traders pivots calculation, whereas a setting of 1 uses the previous session. Please note that when using the SessStrt and SessEnd features, this input is bypassed and the number of sessions ago is specified with the input PeriodsAgo. |
CDat |
Specifies the data series number to be used for the session close calculation of the Floor Traders pivots calculation, whereas a setting of 0 or 1 uses the price series that the strategy is applied on. Please note that when using the SessStrt and SessEnd features, this multiple data series feature is disabled. |
DayC |
Specifies the number of periods ago for the session close calculation of the Floor Traders pivots calculation, whereas a setting of 1 uses the previous session. Please note that when using the SessStrt and SessEnd features, this input is bypassed and the number of sessions ago is specified with the input PeriodsAgo. |
SessStrt |
Specifies the session start time to be used for the Floor Traders pivots calculation, whereas a negative setting uses the calendar date for the Floor Traders pivots calculation. The format of this input is in military charting time. For example, to use 5:00pm, you would type in 1700. Please note that this feature allows for the start time to occur after the end time such as for Forex symbols and if the session begin at 5:00pm and ends at 4:59pm, you can type in 1700 for SessStrt and 1659 for SessEnd. |
SessEnd |
Specifies the session end time to be used for the Floor Traders pivots calculation, whereas a negative setting uses the calendar date for the Floor Traders pivots calculation. The format of this input is in military charting time. For example, to use 5:00pm, you would type in 1700. Please note that this feature allows for the start time to occur after the end time such as for Forex symbols and if the session begin at 5:00pm and ends at 4:59pm, you can type in 1700 for SessStrt and 1659 for SessEnd. |
The Alchemy Floor Traders Pivot Points Strategy consists of the following signals:
B/O Buy |
Buy stop entry above R1. |
B/O Sell |
Sell stop entry below S1. |
Rev Buy |
Buy limit entry at S2. This becomes a stop and reverse when short from S1. |
RevSell |
Sell limit entry at R2. This becomes a stop and reverse when long from R1. |
InLongStop |
Initial protective point long stop. This is a stop order. |
InShortStop |
Initial protective point short stop. This is a stop order. |
MidLongStop |
Long stop below mid point from pivot to R1. This is a stop order. |
MidShortStop |
Short stop above mid point from pivot to S1. This is a stop order. |
TrlLongStop |
Point distance trailing long stop. This is a moving stop order. |
TrlShortStop |
Point distance trailing short stop. This is a moving stop order. |
TargLongX |
Point profit target long exit. This is a limit order. |
TargShortX |
Point profit target short exit. This is a limit order. |
B/OProjLongX |
Long exit at R2. This is a limit order. |
B/OProjShortX |
Short exit at S2. This is a limit order. |
DayEndLongX |
End of day long exit. This becomes a market order to exit all open long positions at specified time. |
DayEndShortX |
End of day long exit. This becomes a market order to exit all open short positions at specified time. |
To view chart, go to:
http://www.tradingalchemy.com/Indicators/ViewCharts/ViewChartsFTPivotPoints.htm#ftpstrategy
User Defined Inputs:
Entries: |
|
|
Position Sizing: |
RiskModel |
Specifies the position sizing risk model type. A setting of 0 disables the position sizing and uses fixed number of entries as specified with the input EntNum. With a setting of 1, the number of shares to enter are based on the maximum number of shares with the dollar amount as specified with the input Equity. With a setting of 2, the number of shares to enter are based on a percent number of shares as specified with the input RiskPercent of the dollar amount as specified with the input Equity per unit as specified with the input RiskUnits. With a setting of 3, the number of shares to enter are based on a percent number of shares as specified with the input RiskPercent of the dollar amount as specified with the input Equity per unit as calculated with a volatility factor as specified with the input RiskLength. |
Equity |
With RiskModel set to 1, the number of shares to enter are based on the maximum number of shares with the dollar amount as specified with the input Equity. With RiskModel set to 2, the number of shares to enter are based on a percent number of shares as specified with the input RiskPercent of the dollar amount as specified with the input Equity per unit as specified with the input RiskUnits. With RiskModel set to 3, the number of shares to enter are based on a percent number of shares as specified with the input RiskPercent of the dollar amount as specified with the input Equity per unit as calculated with a volatility factor as specified with the input RiskLength. |
RiskPercent |
With RiskModel set to 2, the number of shares to enter are based on a percent number of shares as specified with the input RiskPercent of the dollar amount as specified with the input Equity per unit as specified with the input RiskUnits. With RiskModel set to 3, the number of shares to enter are based on a percent number of shares as specified with the input RiskPercent of the dollar amount as specified with the input Equity per unit as calculated with a volatility factor as specified with the input RiskLength. |
RiskUnits |
With RiskModel set to 2, the number of shares to enter are based on a percent number of shares as specified with the input RiskPercent of the dollar amount as specified with the input Equity per unit as specified with the input RiskUnits. |
RiskLength |
With RiskModel set to 3, the number of shares to enter are based on a percent number of shares as specified with the input RiskPercent of the dollar amount as specified with the input Equity per unit as calculated with a volatility factor as specified with the input RiskLength. |
RoundingNumber |
Specifies the number of shares to round to. |
|
Fixed Entries: |
EntNum |
Specifies the number of contracts/shares per entry |
|
Global Entries: |
PivotCalculation |
A value of 0 uses the classic Floor Traders Pivots calculations and a value of 1 uses the Camarilla Floor Traders Pivots calculations. |
EntDecRound |
A numeric expression representing the number of decimal places to keep when rounding R1 or S1 to the entry price or the reversal exit price. A negative setting uses R1 or S1 without any rounding. |
EnAddTick |
Specifies the number of ticks to add to the breakout entry stop price |
ReEntry |
Specifies the number of times the system will reenter at the breakout of R1 or S1 in one day |
MinReEnR |
Specifies the minimum required retracement amount below R1 or above S1 in order for the system to re-enter at another breakout of R1 or S1 |
RevReEntry |
Specifies the number of times the system will reenter at the reversal entry signals at R2 or S2 in one day |
MinRevReEnR |
Specifies the minimum required retracement amount below R2 or above S2 in order for the system to re-enter at another reversal entry signal at R2 or S2 |
MaxOpGap |
Specifies the maximum allowed opening gap above R1 or below S1 in order for the system to enter at the next breakout of R1 or S1 |
BrkOutEnt |
This user defined input activates or deactivates the breakout entry signals above R1 or below S1 (true/false) |
RevEnt |
This user defined input activates or deactivates the reversal entry signals at R2 or S2 (true/false) |
Stops: |
|
InStop |
Specifies the initial stop point distance from the entry price. A setting of 0 disables the initial stop. |
MidPStop |
This user defined input activates or deactivates the Midpoint stop (true/false). The Midpoint stop is the midpoint between R1 and P for a R1 breakout long position as determined under PMidRnge and it is the midpoint between S1 and P for a S1 breakout short position as determined under PMidRnge |
MidPStopDecRound |
A numeric expression representing the number of decimal places to keep when rounding the midpoints to the midpoint stop price. A negative setting uses the midpoints without any rounding. |
PMidRnge |
Specifies the midpoint percentage from P to R1 and P to R2, whereas 50 is the exact midpoint. |
MdStAddT |
Specifies the number of ticks to add to the midpoint stop price |
NumBrkEvX |
Specifies the number of contracts/shares to exit at the break even stop. A setting of 0 exits all open positions at the break even stop. |
MinBrkEvProf |
Specifies the minimum point profit from the entry price at which the stop is moved to break even. A setting of 0 disables the break even stop. |
BrkEvAdd |
Specifies the point distance to add to the entry price for placing the break even stop. |
NumTrailX |
Specifies the number of contracts/shares to exit at the trailing stop. A setting of 0 exits all open positions at the trailing stop. |
TrlStopDist |
Specifies the trailing stop point distance. A setting of 0 disables the trailing stop. |
MinTrlProf |
Specifies the minimum point profit required before the trailing stop is initiated. |
Targets: |
|
NumLimitX |
Specifies the number of contracts/shares to exit at the profit target. A setting of 0 exits all open positions at the profit target. |
LimitX |
Specifies the point profit exit distance. A setting of 0 disables the point profit exit. |
ProjBrkOutX |
This user defined input activates or deactivates the projected breakout exit. (true/false). The projected breakout exit exits a breakout buy of R1 at a target of R2 and it exits a breakout sell of S1 at a target of S2. |
XDecRound |
A numeric expression representing the number of decimal places to keep when rounding R2 or S2 to the projected breakout exit price or the reversal entry price. A negative setting uses R2 or S2 without any rounding. |
XAddTck |
Specifies the number of ticks to add to the projected exit price |
ProjRevX |
This user defined input activates or deactivates the projected reversal exit. (true/false). The projected reversal exit exits a reversal sell of R2 at a target of R1 and it exits a breakout buy of S2 at a target of S1. |
Entry Filters: |
|
FirstEnt |
Specifies the time for the first allowed entry |
LastEnt |
Specifies the time for the last allowed entry |
LastExTi |
Specifies the time when all positions are closed out |
Data: |
|
PeriodsAgo |
Specifies the number of periods ago for the session high, low and close calculation of the Floor Traders pivots calculation, whereas a setting of 1 uses the previous session. Please note that this feature is only available with the SessStrt and SessEnd inputs enabled. |
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
The following inputs are for TradeStation 9/10 only |
|
NumberBarsBack |
Specifies the historical number of bars to load from the current date and time for reading the previous session's high, low and close. If you receive an error message Not enough Data, you need to either reduce the value of this input and/or increase the date range of your symbol setting. |
FirstDate |
Specifies the earliest date for loading the historical bars for reading the previous session's high, low and close. In order to use this method of loading the historical bars for reading the previous session's high, low and close, the input NumberBarsBack has to be set to 0. If the last bar of the chart is not the current date, to save unnecessary processing power, we recommend using the FirstDate and LastDate inputs for specifying the dates to load the historical bars for calculating the Floor Traders Pivots. This is a string input and when used, the precise format has to be "month/day/year". For example a date of February 1st, 2012 would be entered as "2/1/2012". When not used, this input should be left blank with 2 quotation marks as follows "". If the format of this input is not correct, the strategy will generate an invalid date time format error message. |
LastDate |
Specifies the latest date for loading the historical bars for reading the previous session's high, low and close. In order to use this method of loading the historical bars for reading the previous session's high, low and close, the input NumberBarsBack has to be set to 0. If the last bar of the chart is not the current date, to save unnecessary processing power, we recommend using the FirstDate and LastDate inputs for specifying the dates to load the historical bars for calculating the Floor Traders Pivots. This is a string input and when used, the precise format has to be "month/day/year". For example a date of February 1st, 2012 would be entered as "2/1/2012". When not used, this input should be left blank with 2 quotation marks as follows "". If the format of this input is not correct, the strategy will generate an invalid date time format error message. |
IntervalBarType |
Specifies the bar type of the previous session's high, low and close. A setting of 2 uses a Daily chart, a setting of 3 uses a Weekly chart and a setting of 4 uses a Monthly chart. |
The following inputs are for all other platform versions besides TradeStation 9/10 |
|
HDat |
Specifies the data series number to be used for the session high calculation of the Floor Traders pivots calculation, whereas a setting of 0 or 1 uses the price series that the strategy is applied on. Please note that when using the SessStrt and SessEnd features, this multiple data series feature is disabled. |
DayH |
Specifies the number of periods ago for the session high calculation of the Floor Traders pivots calculation, whereas a setting of 1 uses the previous session. Please note that when using the SessStrt and SessEnd features, this input is bypassed and the number of sessions ago is specified with the input PeriodsAgo. |
LDat |
Specifies the data series number to be used for the session low calculation of the Floor Traders pivots calculation, whereas a setting of 0 or 1 uses the price series that the strategy is applied on. Please note that when using the SessStrt and SessEnd features, this multiple data series feature is disabled. |
DayL |
Specifies the number of periods ago for the session low calculation of the Floor Traders pivots calculation, whereas a setting of 1 uses the previous session. Please note that when using the SessStrt and SessEnd features, this input is bypassed and the number of sessions ago is specified with the input PeriodsAgo. |
CDat |
Specifies the data series number to be used for the session close calculation of the Floor Traders pivots calculation, whereas a setting of 0 or 1 uses the price series that the strategy is applied on. Please note that when using the SessStrt and SessEnd features, this multiple data series feature is disabled. |
DayC |
Specifies the number of periods ago for the session close calculation of the Floor Traders pivots calculation, whereas a setting of 1 uses the previous session. Please note that when using the SessStrt and SessEnd features, this input is bypassed and the number of sessions ago is specified with the input PeriodsAgo. |
SessStrt |
Specifies the session start time to be used for the Floor Traders pivots calculation, whereas a negative setting uses the calendar date for the Floor Traders pivots calculation. The format of this input is in military charting time. For example, to use 5:00pm, you would type in 1700. Please note that this feature allows for the start time to occur after the end time such as for Forex symbols and if the session begin at 5:00pm and ends at 4:59pm, you can type in 1700 for SessStrt and 1659 for SessEnd. |
SessEnd |
Specifies the session end time to be used for the Floor Traders pivots calculation, whereas a negative setting uses the calendar date for the Floor Traders pivots calculation. The format of this input is in military charting time. For example, to use 5:00pm, you would type in 1700. Please note that this feature allows for the start time to occur after the end time such as for Forex symbols and if the session begin at 5:00pm and ends at 4:59pm, you can type in 1700 for SessStrt and 1659 for SessEnd. |
XDayOfWeek |
Specifies the day of week to exclude from the Floor Traders pivots calculation, whereas a setting of 0 equals Sunday, a setting of 1 equals Monday and so fourth. For example, if you want to exclude the Sunday session so that on Monday, the strategy uses the Floor Traders pivots calculation based on Friday's high, low and close, you type in 0 for this input. Please note that this feature is only available with the SessStrt and SessEnd inputs enabled. |
Strategy Building Alchemy Functions (for function definitions, click on the corresponding function):
AlchemyFTP is a multiple-output function that provides the pivots for P, R1, R2, S1 and S2 of the traditional Floor Traders Pivots calculations. |
The Alchemy Reversal Patterns Strategy generates long entry signals at double bottom, bullish engulfment and/or bullish reversal bar patterns and it generates short entry signals at double top, bearish engulfment and/or bearish reversal bar patterns. This strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their individual minimum profit threshold. For example, stop 1 can be set as an initial protective stop, stop 2 can be set as a breakeven or lock in profit stop once a certain position profit is reached and stop 3 can be set as a trailing stop once a certain position profit is reached. Each stop has the option of exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares.
End of day exit
Strategy Inputs:
Entries:
|
Double Bottom/Top |
DBT_InitialEntries |
Specifies the number of contracts/shares to initially enter at a double bottom-top bar pattern. |
DBT_AddOn |
Specifies the number of contracts/shares to add on to an already open position at a double bottom-top bar pattern. |
DBT_Reverse |
With a value of 1, the strategy reverses into the opposite direction as a currently held trade with the number of contracts/shares as specified with the input DBT_InitialEntries , at a double bottom-top bar pattern. With a value of 0, the strategy won't reverse. |
DBT_PivStren |
Specifies the minimum required number of bars over which a double bottom bar needs to make a new low or a double top bar needs to make a new high. |
DBT_ClosingBarRange |
Specifies the bar range closing percentage in order to qualify for a double bottom/top bar pattern, whereas a value of 1 equals 100%. |
|
Engulfment |
E_InitialEntries |
Specifies the number of contracts/shares to initially enter at an engulfment bar pattern. |
E_AddOn |
Specifies the number of contracts/shares to add on to an already open position at an engulfment bar pattern. |
E_Reverse |
With a value of 1, the strategy reverses into the opposite direction as a currently held trade with the number of contracts/shares as specified with the input E_InitialEntries, at an engulfment bar pattern. With a value of 0, the strategy won't reverse. |
E_PivStren |
Specifies the minimum required number of bars over which a bullish engulfment bar needs to make a new low or a bearish engulfment bar needs to make a new high. |
|
Reversal |
R_InitialEntries |
Specifies the number of contracts/shares to initially enter at a reversal bar pattern. |
R_AddOn |
Specifies the number of contracts/shares to add on to an already open position at a reversal bar pattern. |
R_Reverse |
With a value of 1, the strategy reverses into the opposite direction as a currently held trade with the number of contracts/shares as specified with the input R_InitialEntries, at a reversal bar pattern. With a value of 0, the strategy won't reverse. |
R_PivStren |
Specifies the minimum required number of bars over which a bullish reversal bar needs to make a new low or a bearish reversal bar needs to make a new high. |
R_ClosingBarRange |
Specifies the bar range closing percentage in order to qualify for a reversal bar pattern, whereas a value of 1 equals 100%. |
R_Reverse |
With a value of 1, the strategy reverses into the opposite direction as a currently held trade with the number of contracts/shares as specified with the input E_InitialEntries, at an engulfment reversal bar pattern. With a value of 0, the strategy won't reverse. |
Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
End Of Day:
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the latest time of the day as to
when to close out all open positions, whereas a negative setting
disables the end of day exit. The format is in military charting time
without the colon, e.g. 1:00pm would be entered as 1300.
|
UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
|
ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
|
The Alchemy Detrended Price Oscillator calculates the detrend which returns the difference between price and an offset average referred to as DPO. The strategy buys long when the DPO crosses over a specified average and it sells short when the DPO crosses under a specified average.
Strategy Inputs:
Price |
Specifies the price to be used for the detrend calculation |
DPO_Length |
Specifies the length of the offset average. |
AvgLength |
Specifies the length of the DPO average. |
AvgType |
Specifies the moving average type of the DPO average. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting o 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input Price. |
The Alchemy True Strength Index (TSI) is a momentum oscillator based on a double smoothing of price changes. By smoothing price changes, the Alchemy TSI captures the ebbs and flows of price action with a steadier line that filters out the noise. The Alchemy True Strength Index (TSI) is an oscillator that fluctuates between positive and negative territory. The Alchemy TSI is somewhat unique because it tracks the underlying price quite well. In other words, the oscillator can capture a sustained move in one direction or the other.
The Alchemy TSI strategy buys long when the Alchemy TSI line slopes up and it sells short when the TSI line slopes down.
Strategy Inputs:
Price |
Specifies which the price to be used for calculating the TSI. |
Length |
Specifies the number of look back bars to be considered for the TSI calculation. |
Smoothing1 |
Specifies the first smoothing factor. |
Smoothing2 |
Specifies the second smoothing factor. |
The RCI calculates the Spearman's Rank Correlation Coefficient based on the ranking of Price.
The Alchemy RCI strategy buys long when the RCI is above it's average and it sells short when the RCI is below it's average.
Strategy Inputs:
Price |
Specifies the price used for calculating the RCI. |
Length |
Specifies the number of look back bars to be considered for the RCI calculation. |
AvgLength |
Specifies the RCI average length. |
NumberTrendEntries |
Specifies the maximum number of consecutive entries allowed into the same trend direction, whereas a value of 0 disables this restriction. |
The Alchemy Engulfment Entry/Exit Signals consist of the AlchemyEngulfBuy long entry signal, the AlchemyEngulfLongX long exit signal, the AlchemyEngulfSell short entry signal and the AlchemyEngulfShrtX short exit signal.
User Defined Inputs for the long and short entry signals:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
User Defined Inputs for the long and short exit signals:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all signals:
PivStren |
This user-defined input determines the minimum required number of bars over which a bullish engulfment bar needs to make a new low or a bearish engulfment bar needs to make a new high. It is defaulted to 10 bars. |
The Alchemy Reversal Entry/Exit Signals consist of the AlchemyRevBuy long entry signal, the AlchemyRevLongX long exit signal, the AlchemyRevSell short entry signal and the AlchemyRevShrtX short exit signal.
User Defined Inputs for the long and short entry signals:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
User Defined Inputs for the long and short exit signals:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all signals:
PivStren |
This user-defined input determines the minimum required number of bars over which a bullish reversal bar needs to make a new low or a bearish reversal bar needs to make a new high. It is defaulted to 10 bars. |
The Alchemy Double BotTop Entry/Exit Signals consist of the AlchemyDbleBotBuy long entry signal, the AlchemyDbleTopLongX long exit signal, the AlchemyDbleTopSell short entry signal and the AlchemyDbleBotShrtX short exit signal.
User Defined Inputs for the long and short entry signals:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
User Defined Inputs for the long and short exit signals:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
User Defined Inputs all signals:
PivStren |
This user-defined input determines the minimum required number of bars over which a double bottom bar needs to make a new low or a double top bar needs to make a new high. It is defaulted to 10 bars. |
The Alchemy 2 Line Moving Averages Crossover entry and exit strategies consist of the following individual strategies:
AlchemyMA2LineX Strategy:
This strategy consists of a buy signal when the fast moving average crosses over the slow moving average, a sell short signal when the fast moving average crosses under the slow moving average, a protective stop, a profit target and an end of day exit.
AlchemyMA2LineXBuy Strategy:
This strategy generates a buy signal when the fast moving average crosses over the slow moving average.
AlchemyMA2LineXSell Strategy:
This strategy generates a sell short signal when the fast moving average crosses under the slow moving average.
AlchemyMA2LineLongX:
This strategy generates a sell signal (exit long position) when the fast moving average crosses under the slow moving average.
AlchemyMA2LineShortX:
This strategy generates a buy to cover signal (exit short position) when the fast moving average crosses over the slow moving average.
User Defined Inputs for the AlchemyMA2LineX Strategy::
StartTime |
Specifies the earliest time for the strategy to generate signals. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative setting disables this input. This input is inactive on daily, weekly and monthly charts. |
EndTime |
Specifies the latest time for the strategy to generate signals. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative setting disables this input. This input is inactive on daily, weekly and monthly charts. |
EndOfDayXTime |
Specifies the time at which to exit all open positions. The format is in military charting time. For example, 1:00pm would be entered as 1300. A negative setting disables the end of day exit. This input is inactive on daily, weekly and monthly charts. |
ProfitTarget |
Specifies the profit target in dollar amounts for the entire position. |
StopLoss |
Specifies the stop loss in dollar amounts for the entire position. |
FastPrice |
Specifies the price for the fast moving average. |
SlowPrice |
Specifies the price for the slow moving average. |
FastLength |
Specifies the length for the fast moving average. |
SlowLength |
Specifies the length for the slow moving average. |
FastType |
A setting of 1 uses a simple fast moving average, a setting of 2 uses an exponential fast moving average and a setting of 3 uses a weighted fast moving average. |
SlowType |
A setting of 1 uses a simple slow moving average, a setting of 2 uses an exponential slow moving average and a setting of 3 uses a weighted slow moving average |
MinPen |
Specifies the minimum amount required for the fast moving average to cross over/under the slow moving average. |
User Defined Inputs for the buy and sell short entry strategies:
InitEntries |
Specifies the number of contracts/shares to enter into a new position. |
AddOn |
Specifies the number of contracts/shares to add to a currently held position into the same direction. |
Reverse |
Specifies the number of contracts/shares to enter into a reverse position if the strategy generates an entry signal into the opposite direction of a current position. |
User Defined Inputs for the sell (exit long) and buy to cover (exit short) strategies:
NumExits |
Specifies the number of contracts/shares to exit. A setting of 0 exits all open positions. |
User Defined Inputs all strategies:
FastAvg |
Specifies the fast moving average. |
SlowAvg |
Specifies the slow moving. |
MinPen |
Specifies the minimum amount required for the fast moving average to cross over/under the slow moving average. |
The Alchemy Moving Average Cross Strategy buys long when price crosses over the moving average and it sells short when price crosses under the moving average. The moving average can be specified as a simple, exponential, weighted or triangular moving average. This strategy also contains a trading start and end time feature as well as an end of day exit.
User Defined Inputs:
PriceLong |
Specifies the price to be used for crossing over the moving average such as open, high, low or close. |
PriceShort |
Specifies the price to be used for crossing under the moving average such as open, high, low or close. |
MvgAvgPrice |
Specifies the moving average price. |
MvgAvgLength |
Specifies the moving average length. |
MvgAvgType |
Specifies the moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
ConfirmBars |
Specifies the number of bars that have to be above or below the moving average after a cross, whereas a value of 1 enters at the first cross bar. |
TradingStartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
TradingEndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
XDayOfWeek |
Specifies the day of the week to exclude, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
EndOfSessionExit |
With a setting of 1, the strategy exits
all open position at the time as specified with the above input EndTme
and with a setting of 0, this exit is disabled.
|
The Alchemy Single Line Moving Average Strategy buys long when the moving average slopes up and it sells short when the moving average slopes down.
User Defined Inputs:
|
Position Size Parameters: |
NumberEntries |
Specifies the number of contracts/shares per entry. |
DollarEntries |
Specifies the number of shares to enter based on the dollar amount of the current bar's closing price. Please note that in order to utilize this input, the input NumberEntries needs to be set to 0. |
|
Moving Average Parameters: |
MvgAvgPrice |
Specifies the moving average price. |
MvgAvgLength |
Specifies the moving average length. |
MvgAvgType |
Specifies the moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
MinimumSlope |
Specifies the minimum moving average slope that has to be exceeded for an entry, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
|
Entry Mode Parameters: |
TrendChangeSignalOnly |
A negative setting enters a position whenever the moving average slope exceeds the MinimumSlope input value. A setting of 0 enters as soon as the moving average distance to the last moving average peak for a short entry or to the last moving average valley for a long entry, exceeds the MinimumSlope input value. All positive values specify the maximum number of bars after the moving average slope change has occurred during which the moving average slope has to exceed the minimum required moving average distance as specified with the MinimumSlope input value, to the last moving average peak for a short entry or to the last moving average valley for a long entry. |
EnterAtClose |
A setting of 1 generates an entry signal at the close of the bar, requiring a true bar close, whereas a setting of 0 generates a market order at the close of the bar which is filled at the open of the next bar. With the latter option, the strategy dos not require a true bar close and when set to intra-bar order generation, the order will be generated intra-bar before the close of the bar to be filled on the same bar before its close. |
|
Profit Target Parameters: |
DollarProfitTarget |
Specifies the dollar profit target, whereas a setting of 0 disables the profit target |
PositionBasis |
A setting of 1 calculates the dollar profit on a position basis and a setting of 0 calculates the dollar profit on a per contract/share basis. |
ProfitTargetPercentExit |
Specifies the percent contracts/shares to exit at the profit target, whereas a setting of 0 disables the profit target |
UseLimitTarget |
A setting of 1 places limit orders for the profit target and a setting of 0 places a market order to exit at the close of the bar that reaches the profit target. |
ExitWithEntry |
A setting of 1 places the exit orders with the entry bar and a setting of 0 places the exit orders at the close of the entry bar. |
|
Moving Average Exit Parameter: |
MaximumSlope |
Specifies the maximum moving average slope into the same direction of the open position as to when the strategy exits all positions, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
|
Times Parameters: |
StartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intrabar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
EndOfSessionExit |
With a setting of 1, the strategy exits
all open position at the time as specified with the above input EndTme
and with a setting of 0, this exit is disabled.
|
The Alchemy Single Line Moving Average Strategy buys long when the moving average slopes up and it sells short when the moving average slopes down. Additionally, this strategy contains separate moving average parameters for long entries, short entries, long exits, and short exits.
User Defined Inputs:
|
Position Size Parameters: |
NumberEntries |
Specifies the number of contracts/shares per entry. |
DollarEntries |
Specifies the number of shares to enter based on the dollar amount of the current bar's closing price. Please note that in order to utilize this input, the input NumberEntries needs to be set to 0. |
|
Entry Moving Averages Parameters: |
LongEntry_MvgAvgPrice |
Specifies the moving average price for long entries. |
LongEntry_MvgAvgLength |
Specifies the moving average length for long entries. |
LongEntry_MvgAvgType |
Specifies the moving average type for long entries. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
LongEntry_MinimumSlope |
Specifies the minimum moving average slope that has to be exceeded for a long entry, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
ShortEntry_MvgAvgPrice |
Specifies the moving average price for short entries. |
ShortEntry_MvgAvgLength |
Specifies the moving average length for short entries. |
ShortEntry_MvgAvgType |
Specifies the moving average type for short entries. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
ShortEntry_MinimumSlope |
Specifies the minimum moving average slope that has to be exceeded for a short entry, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
|
Entry Mode Parameters: |
TrendChangeSignalOnly |
A negative setting enters a position whenever the moving average slope exceeds the MinimumSlope input value. A setting of 0 enters as soon as the moving average distance to the last moving average peak for a short entry or to the last moving average valley for a long entry, exceeds the MinimumSlope input value. All positive values specify the maximum number of bars after the moving average slope change has occurred during which the moving average slope has to exceed the minimum required moving average distance as specified with the MinimumSlope input value, to the last moving average peak for a short entry or to the last moving average valley for a long entry. |
EnterAtClose |
A setting of 1 generates an entry signal at the close of the bar, requiring a true bar close, whereas a setting of 0 generates a market order at the close of the bar which is filled at the open of the next bar. With the latter option, the strategy dos not require a true bar close and when set to intra-bar order generation, the order will be generated intra-bar before the close of the bar to be filled on the same bar before its close. |
|
Profit Target Parameters: |
DollarProfitTarget |
Specifies the dollar profit target, whereas a setting of 0 disables the profit target |
PositionBasis |
A setting of 1 calculates the dollar profit on a position basis and a setting of 0 calculates the dollar profit on a per contract/share basis. |
ProfitTargetPercentExit |
Specifies the percent contracts/shares to exit at the profit target, whereas a setting of 0 disables the profit target |
UseLimitTarget |
A setting of 1 places limit orders for the profit target and a setting of 0 places a market order to exit at the close of the bar that reaches the profit target. |
ExitWithEntry |
A setting of 1 places the exit orders with the entry bar and a setting of 0 places the exit orders at the close of the entry bar. |
|
Exit Moving Averages Parameters: |
LongExit_MvgAvgPrice |
Specifies the moving average price for long exits. |
LongExit_MvgAvgLength |
Specifies the moving average length for long exits. A setting of 0 disables this long exit. |
LongExit_MvgAvgType |
Specifies the moving average type for long exits. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
LongExit_MaximumSlope |
Specifies the maximum moving average slope into the same direction of the open long position as to when the strategy exits all long positions, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
ShortExit_MvgAvgPrice |
Specifies the moving average price for short exits. |
ShortExit_MvgAvgLength |
Specifies the moving average length for short exits. A setting of 0 disables this long exit. |
ShortExit_MvgAvgType |
Specifies the moving average type for short exits. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
ShortExit_MaximumSlope |
Specifies the maximum moving average slope into the same direction of the open short position as to when the strategy exits all short positions, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
|
Times Parameters: |
StartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intrabar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
EndOfSessionExit |
With a setting of 1, the strategy exits
all open position at the time as specified with the above input EndTme
and with a setting of 0, this exit is disabled.
|
The Alchemy Single Line Moving Average Strategy buys long when the moving average slopes up and it sells short when the moving average slopes down. With this strategy, the moving average parameters can be transmitted to a different study such as our Alchemy MovAvg1Line.OOEL indicator.
User Defined Inputs:
|
Position Size Parameters: |
NumberEntries |
Specifies the number of contracts/shares per entry. |
DollarEntries |
Specifies the number of shares to enter based on the dollar amount of the current bar's closing price. Please note that in order to utilize this input, the input NumberEntries needs to be set to 0. |
|
Moving Average Parameters: |
MvgAvgPrice |
Specifies the moving average price. |
MvgAvgLength |
Specifies the moving average length. |
MvgAvgType |
Specifies the moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
MinimumSlope |
Specifies the minimum moving average slope that has to be exceeded for an entry, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
gdInputsName |
Specifies the Global Dictionary name for transmitting the MvgAvgLength and the MvgAvgType input values. This is a string input which needs to stay within quotation marks. |
|
Entry Mode Parameters: |
TrendChangeSignalOnly |
A negative setting enters a position whenever the moving average slope exceeds the MinimumSlope input value. A setting of 0 enters as soon as the moving average distance to the last moving average peak for a short entry or to the last moving average valley for a long entry, exceeds the MinimumSlope input value. All positive values specify the maximum number of bars after the moving average slope change has occurred during which the moving average slope has to exceed the minimum required moving average distance as specified with the MinimumSlope input value, to the last moving average peak for a short entry or to the last moving average valley for a long entry. |
EnterAtClose |
A setting of 1 generates an entry signal at the close of the bar, requiring a true bar close, whereas a setting of 0 generates a market order at the close of the bar which is filled at the open of the next bar. With the latter option, the strategy dos not require a true bar close and when set to intra-bar order generation, the order will be generated intra-bar before the close of the bar to be filled on the same bar before its close. |
|
Profit Target Parameters: |
DollarProfitTarget |
Specifies the dollar profit target, whereas a setting of 0 disables the profit target |
PositionBasis |
A setting of 1 calculates the dollar profit on a position basis and a setting of 0 calculates the dollar profit on a per contract/share basis. |
ProfitTargetPercentExit |
Specifies the percent contracts/shares to exit at the profit target, whereas a setting of 0 disables the profit target |
UseLimitTarget |
A setting of 1 places limit orders for the profit target and a setting of 0 places a market order to exit at the close of the bar that reaches the profit target. |
ExitWithEntry |
A setting of 1 places the exit orders with the entry bar and a setting of 0 places the exit orders at the close of the entry bar. |
|
Moving Average Exit Parameter: |
MaximumSlope |
Specifies the maximum moving average slope into the same direction of the open position as to when the strategy exits all positions, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
|
Times Parameters: |
StartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intrabar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
EndOfSessionExit |
With a setting of 1, the strategy exits
all open position at the time as specified with the above input EndTme
and with a setting of 0, this exit is disabled.
|
The Alchemy Single Line Moving Average Strategy buys long when the moving average slopes up and it sells short when the moving average slopes down. Additionally, this strategy contains separate moving average parameters for long entries, short entries, long exits, and short exits. With this strategy, the moving average parameters can be transmitted to a different study such as our Alchemy MovAvg1Line.OOEL indicator.
User Defined Inputs:
|
Position Size Parameters: |
NumberEntries |
Specifies the number of contracts/shares per entry. |
DollarEntries |
Specifies the number of shares to enter based on the dollar amount of the current bar's closing price. Please note that in order to utilize this input, the input NumberEntries needs to be set to 0. |
|
Entry Moving Averages Parameters: |
LongEntry_MvgAvgPrice |
Specifies the moving average price for long entries. |
LongEntry_MvgAvgLength |
Specifies the moving average length for long entries. |
LongEntry_MvgAvgType |
Specifies the moving average type for long entries. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
LongEntry_MinimumSlope |
Specifies the minimum moving average slope that has to be exceeded for a long entry, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
ShortEntry_MvgAvgPrice |
Specifies the moving average price for short entries. |
ShortEntry_MvgAvgLength |
Specifies the moving average length for short entries. |
ShortEntry_MvgAvgType |
Specifies the moving average type for short entries. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
ShortEntry_MinimumSlope |
Specifies the minimum moving average slope that has to be exceeded for a short entry, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
|
Entry Mode Parameters: |
TrendChangeSignalOnly |
A negative setting enters a position whenever the moving average slope exceeds the MinimumSlope input value. A setting of 0 enters as soon as the moving average distance to the last moving average peak for a short entry or to the last moving average valley for a long entry, exceeds the MinimumSlope input value. All positive values specify the maximum number of bars after the moving average slope change has occurred during which the moving average slope has to exceed the minimum required moving average distance as specified with the MinimumSlope input value, to the last moving average peak for a short entry or to the last moving average valley for a long entry. |
EnterAtClose |
A setting of 1 generates an entry signal at the close of the bar, requiring a true bar close, whereas a setting of 0 generates a market order at the close of the bar which is filled at the open of the next bar. With the latter option, the strategy dos not require a true bar close and when set to intra-bar order generation, the order will be generated intra-bar before the close of the bar to be filled on the same bar before its close. |
|
Profit Target Parameters: |
DollarProfitTarget |
Specifies the dollar profit target, whereas a setting of 0 disables the profit target |
PositionBasis |
A setting of 1 calculates the dollar profit on a position basis and a setting of 0 calculates the dollar profit on a per contract/share basis. |
ProfitTargetPercentExit |
Specifies the percent contracts/shares to exit at the profit target, whereas a setting of 0 disables the profit target |
UseLimitTarget |
A setting of 1 places limit orders for the profit target and a setting of 0 places a market order to exit at the close of the bar that reaches the profit target. |
ExitWithEntry |
A setting of 1 places the exit orders with the entry bar and a setting of 0 places the exit orders at the close of the entry bar. |
|
Exit Moving Averages Parameters: |
LongExit_MvgAvgPrice |
Specifies the moving average price for long exits. |
LongExit_MvgAvgLength |
Specifies the moving average length for long exits. A setting of 0 disables this long exit. |
LongExit_MvgAvgType |
Specifies the moving average type for long exits. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
LongExit_MaximumSlope |
Specifies the maximum moving average slope into the same direction of the open long position as to when the strategy exits all long positions, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
ShortExit_MvgAvgPrice |
Specifies the moving average price for short exits. |
ShortExit_MvgAvgLength |
Specifies the moving average length for short exits. A setting of 0 disables this long exit. |
ShortExit_MvgAvgType |
Specifies the moving average type for short exits. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
ShortExit_MaximumSlope |
Specifies the maximum moving average slope into the same direction of the open short position as to when the strategy exits all short positions, whereas the moving average slope is specified as the moving average value difference between 2 bars. |
|
Times Parameters: |
StartTme |
Specifies the time for the earliest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndTme |
Specifies the time for the latest allowed trade of the day, whereas a negative setting disables this requirement. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intrabar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
EndOfSessionExit |
With a setting of 1, the strategy exits
all open position at the time as specified with the above input EndTme
and with a setting of 0, this exit is disabled.
|
|
Global Dictionaly Parameters: |
LongEntryLine |
Specifies the Global Dictionary name for transmitting the LongEntry_MvgAvgLength and the LongEntry_MvgAvgType input values. This is a string input which needs to stay within quotation marks. |
ShortEntryLine |
Specifies the Global Dictionary name for transmitting the ShortEntry_MvgAvgLength and the ShortEntry_MvgAvgType input values. This is a string input which needs to stay within quotation marks. |
LongExitLine |
Specifies the Global Dictionary name for transmitting the LongExit_MvgAvgLength and the LongExit_MvgAvgType input values. This is a string input which needs to stay within quotation marks. |
ShortExitLine |
Specifies the Global Dictionary name for transmitting the
ShortExit_MvgAvgLength
and the ShortExit_MvgAvgType
input values. This is a string input which
needs to stay within quotation marks.
|
The Alchemy 2 Line Moving Averages Cross Strategy enters when the fast moving average crosses the slow moving average and it contains an end of day exit.
User Defined Inputs:
NumberEntries |
Specifies the number of contracts/shares per entry. |
DollarEntries |
Specifies the number of shares to enter based on the dollar amount of the current bar's closing price. Please note that in order to utilize this input, the input NumberEntries needs to be set to 0. |
PercentEntries |
Specifies the number of contracts/shares to enter based on a percentage of the real time account balance as specified by the input RT_Balance. Please note that this is a real time input that calculates the number of contracts/shares to enter for all real time entries and all historical trades are based on the number of contracts/shares as specified with the input NumberEntries or the input DollarEntries. |
RT_Balance |
Specifies the real time account balance that the number of contracts/shares to enter is based on and this input works in conjunction with the above input PercentEntries. |
FastPrice |
Specifies the fast moving average price. |
SlowPrice |
Specifies the slow moving average price. |
FastLength |
Specifies the fast moving average length. |
SlowLength |
Specifies the slow moving average length. |
FastType |
Specifies the fast moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average a setting of 4 uses a triangular moving average. |
SlowType |
Specifies the slow moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average and a setting of 4 uses a triangular moving average. |
SessionStartTme |
Specifies the session start time, whereas a negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. This input is ignored on daily, weekly and monthly charts. |
SessionEndTme |
Specifies the session end time, whereas a negative setting uses the last bar of the calendar date for the end of the last session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. This input is ignored on daily, weekly and monthly charts. |
EndOfDayExitTime |
Specifies the latest time of the day as to when to close out all open positions, whereas a negative setting disables the end of day exit. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intra-bar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
ExitOnClose |
When set to true, the exit order is generated at the close of the bar and when set to false, the exit order is generated as a market order to be displayed at the open of the next bar. However, when utilizing the feature of exiting before the close of the bar with intrabar order generation and UseCurrentTime enabled, this input needs to be set to false, otherwise, the strategy will wait for a true close of the bar before exiting. |
SetExitOnSessionClose |
Enables/disables the setexitonclose command, which detects early session closing times that occur before the specified EndOfDayExitTime due to Holidays. |
The Alchemy 2 Line Moving Averages Cross Linear Regression Strategy enters long when the fast moving average is above the slow moving average and price is above the linear regression line. The strategy enters short when the fast moving average is below the slow moving average and price is below the linear regression line. Otherwise, it exits all positions.
Strategy Inputs:
Moving Average Parameters:
|
|
Price1 |
Specifies the price for the first moving average. |
Price2 |
Specifies the price for the second moving average. |
Length1 |
Specifies the number of bars over which the first moving average is calculated. |
Length2 |
Specifies the number of bars over which the second moving average is calculated. |
Factor1 |
This input is activated when the first moving average is specified as an exponential moving average and a setting of 1 returns a Wilders Smoothing Moving Average and a setting of 2 returns a standard exponential moving average. The Factor can be specified as any number and it increases the reaction of the moving average as the Factor is increased, therefore making it a faster moving average with a higher Factor. |
Factor2 |
This input is activated when the second moving average is specified as an exponential moving average and a setting of 1 returns a Wilders Smoothing Moving Average and a setting of 2 returns a standard exponential moving average. The Factor can be specified as any number and it increases the reaction of the moving average as the Factor is increased, therefore making it a faster moving average with a higher Factor. |
Smoothing1 |
This input is activated when the first moving average is specified as an exponential moving average and a setting of 0 returns a Wilders Smoothing Moving Average and a setting of 1 returns a standard exponential moving average. The Smoothing can be specified as any number and it smooths the moving average as the Smoothing is increased, therefore making it a slower moving average with a higher Smoothing. |
Smoothing2 |
This input is activated when the second moving average is specified as an exponential moving average and a setting of 0 returns a Wilders Smoothing Moving Average and a setting of 1 returns a standard exponential moving average. The Smoothing can be specified as any number and it smooths the moving average as the Smoothing is increased, therefore making it a slower moving average with a higher Smoothing. |
Type1 |
Specifies the type of moving average for the first moving average. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average and a setting of 7 uses a custom formula as specified with the input Price1. |
Type2 |
Specifies the type of moving average for the second moving average. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average and a setting of 7 uses a custom formula as specified with the input Price2. |
Linear Regression Parameters:
|
|
LinRegrPrice |
Specifies the price to be used for the linear regression curve. |
LinRegrLength |
Specifies the number of bars over which the linear regression curve is calculated. |
LinRegrLongPrice |
Specifies the price that has to be above the linear regression curve for a long alert. |
LinRegrShortPrice |
Specifies the price that has to be below the linear regression curve for a short alert. |
The Alchemy 2 Line Moving Averages Cross Strategy enters when the fast moving average crosses the slow moving average and it contains a protective stop, a profit target, a trailing stop, an end of day exit, a moving averages cross exit, a MACD slope exit, a Stochastic Momentum Index trend exit and a maximum daily loss exit. Additionally, this strategy contains separate entry filters that require for price to be above/below a specified percentage of a moving average, a MACD slope entry filter, a MACD trend entry filter, a Stochastic Momentum Index trend entry filter, a separate adaptive moving average slope entry filter and a second independent set of 2 line moving averages that have to line up for an entry into the opposite direction of the last trade. Please refer to the strategy inputs below for more details.
Strategy Inputs:
|
Entries: |
LongShort |
A setting of -1 allows short trades only, a setting of 0
allows both, short and long trades and a setting of 1 allows long trades
only. |
NumberEntries |
Specifies the number of contracts/shares per entry. |
RT_PercentEntries |
Specifies the number of contracts/shares to enter based on a percentage of the real time account balance as specified by the input RT_Balance. Please note that this is a real time input that calculates the number of contracts/shares to enter for all real time entries and all historical trades are based on the number of contracts/shares as specified with the input NumberEntries or the input DollarEntries. |
RT_Balance |
Specifies the real time account balance that the number of contracts/shares to enter is based on and this input works in conjunction with the above input PercentEntries. |
DollarEntries |
Specifies the number of shares to enter based on the dollar amount of the current bar's closing price. Please note that in order to utilize this input, the input NumberEntries needs to be set to 0. |
NetWorthPercentEntries |
Specifies the percent shares/contracts to enter based on the hypothetical trade to trade net profit from the beginning of the chart. Please note that in order to utilize this input, the input NumberEntries, RT_PercentEntries and DollarEntries needs to be set to 0. |
BeginningCapital |
This input works in conjunction with the input NetWorthPercentEntries and it specifies the beginning dollar capital that is being added to the net profit for the strategy to start trading with. |
SMI_ReEnter |
With a setting of 0, the strategy re-enters the number of contracts/shares it exited with the SMI exit when the SMI PercentK crosses back into the direction of the trade. A positive number specifies the maximum number of re-entries within one trade. A negative setting disables this re-entry. Since this re-entry is dependant on the SMI exit, this re-entry is functional only with the SMI exit enabled. |
|
Moving Averages Parameters: |
FastPrice |
Specifies the fast moving average price. |
SlowPrice |
Specifies the slow moving average price. |
FastLength |
Specifies the fast moving average length. |
SlowLength |
Specifies the slow moving average length. |
FastType |
Specifies the fast moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input FastPrice. |
SlowType |
Specifies the slow moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input SlowPrice. |
|
Entry Filters: |
|
PriceToAvg Entry Filter: |
LongPrice |
Specifies the price to be used such as close, high or low, that needs to be above the moving average in order to qualify for a long trade. A setting of 0 disables this long entry requirement. |
ShortPrice |
Specifies the price to be used such as close, high or low, that needs to be below the moving average in order to qualify for a short trade. A setting of 0 disables this short entry requirement. |
PriceToAvgNumber |
Specifies the number of the average to be used for price to be above/below for an entry qualification, whereas a setting of 1 uses the fast moving average, a setting of 2 uses the slow moving average and a setting of 0 disables this requirement altogether. |
PriceToAvgPercent |
Specifies the percent of the average for price to be above/below for an entry qualification. For example, with a setting of 0.5 and a moving average of 10, price needs to be above 10.05 for a long entry qualification. |
|
Entry MACD Slope Entry Filter (The entry MACD is defined as the difference between the fast and slow moving average and its' slope is defined as its' value difference from one bar to the next): |
MACD_Entry_MinSlope |
Specifies the minimum MACD up slope required for a long entry and the minimum MACD down slope required for a short entry. The value of this input is expressed as the MACD value difference from one bar to the next, whereas with setting of 0, any detectable MACD value difference qualifies. A negative setting disables this entry filter. |
MACD_Entry_SlopeReEntry |
A setting of 1 allows for a long re-entry if the MACD slope decreases and then increases again without the moving averages having to re-cross again. Vice versa, it allows for a short re-entry if the MACD slope increases and then decreases again without the moving averages having to re-cross again. A setting of 0 disables this re-entry option. |
|
MACD Trend Entry Filter (This is a separate MACD entry filter that requires for the MACD to be above the MACD average to allow long trades and for the MACD to be below the MACD average to allow short trades and this MACD has its own separate parameters): |
MACD_Trend_FastPrice |
Specifies the price to be used for the fast moving average of the MACD. |
MACD_Trend_SlowPrice |
Specifies the price to be used for the slow moving average of the MACD. |
MACD_Trend_FastLength |
Specifies the length for the fast moving average of the MACD, whereas a setting of 0 disables this entry filter. |
MACD_Trend_SlowLength |
Specifies the length for the slow moving average of the MACD, whereas a setting of 0 disables this entry filter. |
MACD_Trend_AvgLength |
Specifies the length for the MACD average, whereas a setting of 0 disables this entry filter. |
MACD_Trend_FastType |
Specifies the fast moving average type of the MACD. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input MACD_Trend_FastPrice. |
MACD_Trend_SlowType |
Specifies the slow moving average type of the MACD. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input MACD_Trend_SlowPrice. |
MACD_Trend_AvgType |
Specifies the MACD moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average. |
|
Stochastics Momentum Index (SMI) Trend Entry Filter (This entry filter requires for the SMI PercentK to be above the SMI PercentD to allow long trades and for the SMI PercentK to be below the SMI PercentD to allow short trades): |
SMI_Trend |
A setting of 1 enables this trend entry filter and a setting of 0 disables this trend entry filter. |
SMI_DLength |
Specifies the percent D length. Please note that the SMI exit utilizes this same SMI and by setting this input to 0, it will automatically disable both, the SMI trend entry filter and the SMI exit. |
SMI_KLength |
Specifies the percent K length. Please note that the SMI exit utilizes this same SMI and by setting this input to 0, it will automatically disable both, the SMI trend entry filter and the SMI exit. |
|
Adaptive Moving Average Slope Entry Filter (The adaptive moving average slope is defined as its' value difference from one bar to the next): |
AMA_Price |
Specifies which bar value (price, function, or formula) to consider for the adaptive moving average. |
AMA_EffRatioLength |
Sets he number of bars used to calculate an efficiency ratio for the adaptive moving average. A setting of 0 disables this entry filter. |
AMA_FastLength |
Sets the number of bars used to calculate a fast smoothing factor for the adaptive moving average. A setting of 0 disables this entry filter. |
AMA_SlowLength |
Sets the number of bars used to calculate a slow smoothing factor for the adaptive moving average. A setting of 0 disables this entry filter. |
AMA_MinimumSlope |
Specifies the minimum adaptive moving average up slope required for a long entry and the minimum adaptive moving average down slope required for a short entry. The value of this input is expressed as the adaptive moving average value difference from one bar to the next, whereas with setting of 0, any detectable adaptive moving average value difference qualifies. A negative setting disables this entry filter. |
|
Reverse Moving Averages Entry Filter (This entry filter requires for a separate set of 2 moving averages to line up for a trade into the opposite direction of the last trade only) |
RevAvgFastPrice |
Specifies the fast moving average price for this second set of moving averages. |
RevAvgSlowPrice |
Specifies the slow moving average price for this second set of moving averages. |
RevAvgFastLength |
Specifies the fast moving average length for this second set of moving averages. A setting of 0 disables this entry filter. |
RevAvgSlowLength |
Specifies the slow moving average length for this second set of moving averages. A setting of 0 disables this entry filter. |
RevAvgFastType |
Specifies the fast moving average type for this second set of moving averages. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input FastPrice. A setting of 0 disables this entry filter. |
RevAvgSlowType |
Specifies the slow moving average type for this second set of moving averages. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input SlowPrice. A setting of 0 disables this entry filter. |
|
Session Times Entry Filter: |
SessionStartTme |
Specifies the session start time, whereas a negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. This input is ignored on daily, weekly and monthly charts. |
SessionEndTme |
Specifies the session end time, whereas a negative setting uses the last bar of the calendar date for the end of the last session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. This input is ignored on daily, weekly and monthly charts. |
SessionXDayOfWeek |
Specifies the day of the week to exclude, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
|
Exits: |
|
End Of Day Exit: |
EndOfDayExitTime |
Specifies the latest time of the day as to when to close out all open positions, whereas a negative setting disables the end of day exit. This input is ignored on daily, weekly and monthly charts. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
UseCurrentTime |
When set to true, the strategy exits at the specified exit time before the close of the bar in real time. When set to false, the strategy exits at the close of the bar that falls within the specified exit time. Historical trades are always displayed at the close of the bar that falls within the specified exit time. Please note that in order to take advantage of this feature, intra-bar order generation needs to be enabled, otherwise, the strategy will have to wait for the close of the bar to generate the exit signal. |
ExitOnClose |
When set to true, the exit order is generated at the close of the bar and when set to false, the exit order is generated as a market order to be displayed at the open of the next bar. However, when utilizing the feature of exiting before the close of the bar with intrabar order generation and UseCurrentTime enabled, this input needs to be set to false, otherwise, the strategy will wait for a true close of the bar before exiting. |
SetExitOnSessionClose |
Enables/disables the setexitonclose command, which detects early session closing times that occur before the specified EndOfDayExitTime due to Holidays. |
|
Protective Stop: |
PercentLoss |
Specifies the percent loss from the entry price at which the strategy will place a stop loss order, whereas a setting of 0 disables this stop loss. This input can be used in conjunction with the fixed MinMoveLoss input below and the strategy will automatically use the closest stop between the two. |
MinMoveLoss |
Specifies the number of cents, ticks or pips as to where to place the protective stop from the entry price, whereas a setting of 0 disables this stop loss. |
|
Profit Target: |
PercentGain |
Specifies the percent gain from the entry price at which the strategy will take profits, whereas a setting of 0 disables this exit. This input can be used in conjunction with the fixed MinMoveGain input below and the strategy will automatically use the closest profit target between the two. |
MinMoveGain |
Specifies the number of cents, ticks or pips as to where to place the profit target from the entry price, whereas a setting of 0 disables this profit target. |
PercentGainExit |
Specifies the percent contracts/shares to exit at the percent gain profit exit, whereas a setting of 0 disables this exit. |
LimitTarget |
A setting of 1 places limit orders for the profit target and a setting of 0 places a market order to exit at the close of the bar that reaches the profit target. |
|
Trailing Stop: |
TS_PercentExit |
Specifies the percent contracts/shares to exit at the trailing stop. |
TS_UseStop |
A setting of 1 uses a stop order and a setting of 0 places a market order at the close of the bar that touches the trailing stop. |
TS_MinimumProfitDistance |
Specifies the minimum profit distance in points or dollars to be reached at which time the trailing stop is initiated. |
TS_MinimumProfitMove |
Specifies the minimum profit distance in cents, ticks or pips to be reached at which time the trailing stop is initiated. In order to use this input, TS_MinimumProfitDistance needs to be set to 0. |
TS_MinimumProfitDollars |
Specifies the minimum dollar profit to be reached at which time the trailing stop is initiated. In order to use this input, TS_MinimumProfitDistance and TS_MinimumProfitMove needs to be set to 0. |
TS_PositionBasis |
A setting of 1 uses the TS_MinimumProfitDollars inputs on a position basis and a setting of 0 uses the TS_MinimumProfitDollars inputs on a per contract/share basis. |
TS_MinimumProfitPercent |
Specifies the minimum profit percent to be reached at which time the trailing stop is initiated. This input can be used in conjunction with the fixed minimum profit inputs above and the strategy will automatically use the smaller profit threshold between the two. |
|
Please note that in order to initiate the trailing stop at the time of the entry, the above inputs TS_MinimumProfitDistance, TS_MinimumProfitMove, TS_MinimumProfitDollars and TS_MinimumProfitPercent have to be set to 0. |
TS_TrailingDistance |
Specifies the trailing distance in points or dollars. |
TS_TrailingMove |
Specifies the trailing distance in cents, ticks or pips. In order to use this input, TS_TrailingDistance needs to be set to 0. |
TS_TrailingPercent |
Specifies the trailing distance expressed in percent of the entry price. This input can be used in conjunction with the fixed trailing distances above and the strategy will automatically use the closer trailing distance between the two. |
|
Other Exits: |
|
Full Exits (Each full exit below that is enabled adds an additional exit criteria for exiting all positions. For example, will all full exits enabled, all of their exit criteria have to be met in order to exit all positions). |
FullExit_MA |
With a setting of 1, the strategy exits all long positions when the fast moving average crosses under the slow moving average and it exits all short positions when the fast moving average crosses over the slow moving average. A setting of 0 disables this moving average cross exit. |
FullExit_SMI |
With a setting of 1, the strategy exits all long positions when the Stochastics Momentum Index PercentK crosses under the Stochastics Momentum Index PercentD and it exits all short positions when the Stochastics Momentum Index PercentK crosses over the Stochastics Momentum Index PercentD. A setting of 0 disables this Stochastics Momentum Index cross exit. |
FullExit_TrendMACD |
With a setting of 1, the strategy exits all long positions when the MACD as specified with the Trend MACD parameters is below the MACD average as specified with the Trend MACD parameters and it exits all short positions when the MACD as specified with the Trend MACD parameters is above the MACD average as specified with the Trend MACD parameters . A setting of 0 disables this MACD trend exit. |
|
|
Exit_EntryMACD_MinSlope |
Specifies the minimum MACD up slope required for exiting all short positions and the minimum MACD down slope required for exiting all long positions. The value of this input is expressed as the MACD value differencefrom one bar to the next, whereas with setting of 0, any detectable MACD value difference qualifies. With this exit, the MACD is defined as the difference between the fast and slow moving average that is used for the original 2 line moving averages cross entry, hence the term entry MACD. A negative setting disables this exit. |
SMI_PercentExit |
Specifies the percent contracts/shares to exit a short position when the SMI PercentK is above the SMI PercentD and to exit a long position when the SMI PercentK is below the SMI PercentD. A setting of 0 disables this exit. Please note that this exit utilizes the SMI parameters of the SMI trend entry filter and in order use this exit, the inputs SMI_DLength and SMI_KLength have to be positive values. |
MaxAccumDailyLoss |
Specifies the maximum daily dollar loss at which the strategy exits an open position and stops trading for the rest of the day. This feature is only active for intra-day charts and a setting of 0 disables this exit. |
Heikin-Ashi chart looks like the candlestick chart but the method of calculation and plotting of the candles on the Heikin-Ashi chart is different from the candlestick chart. In candlestick charts, each candlestick shows four different numbers: Open, Close, High and Low price and each candlestick is independent and has no relation with the previous candlestick. But Heikin-Ashi candles are different and each candle is calculated and plotted using some information from the previous candle:
1- Close price: the close price in a Heikin-Ashi candle is the average of open,
close, high and low price.
2- Open price: the open price in a Heikin-Ashi candle is the average of the open
and close of the previous candle.
3- High price: the high price in a Heikin-Ashi candle is chosen from one of the
high, open and close price of which has the highest value.
4- Low price: the high price in a Heikin-Ashi candle is chosen from one of the
high, open and close price of which has the lowest value.
So candles of a Heikin-Ashi chart are related to each other because the close
and open price of each candle should be calculated using the previous candle
close and open price and also the high and low price of each candle is affected
by the previous candle. So a Heikin-Ashi chart is slower than a candlestick
chart and its signals are delayed (like when we use moving averages on our chart
and trade according to them).
What are the advantages and disadvantages of this delay?
This delay has made the Heikin-Ashi candle as a good indicator for volatile
instruments because it prevents us from rushing and making mistakes and trading
against the market.
The Alchemy Heikin-Ashi Entry strategy enters long when the Heikin-Ashi candles are bullish and it enters short when the Heikin-Ashi candles are bearish.
Strategy Inputs:
NumberLongEntries |
Specifies the number of shares or contracts to enter long. |
NumberShortEntries |
Specifies the number of shares or contracts to enter short. |
OppositeEntry |
With a setting of 0, the strategy enters into the direction of the Heikin-Ashi trend and with a setting of 1, the strategy enters into the opposite direction of the Heikin-Ashi trend. |
Reverse |
A setting of 0 prevents reversal entries and a setting of 1 allows reversal entries. |
Length |
Specifies the look back length for using an average of the past number of bars, whereas a setting of -1 uses the standard and conventional method of calculating the Heikin-Ashi candle. |
MinConsecutiveBars | Specifies the minimum required number of consecutive trend bars, before a position is initiated. |
Slow Stochastic Entry Filter: Allows long entries only when the SlowK is above the SlowD, while in oversold territory and allows short entries only when the SlowK is below the SlowD, while in overbought territory. |
|
Stoch_Length | Specifies the Stochastic length, whereas a value of 0 disables this entry filter. |
Stoch_OverBought | Specifies the Stochastic overbought territory. |
Stoch_OverSold | Specifies the Stochastic oversold territory. |
Moving Average Entry Filter: Allows long entries only when price is above the moving average and allows short entries only when price is below the moving average. |
|
MovAvg_Length | Specifies the moving average length, whereas a value of 0 disables this entry filter. |
MovAvg_Type | Specifies the moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner and a setting of 6 uses a Hull moving average, whereas a value of 0 disables this entry filter. |
Trading Times Entry Filter: |
|
TradingStartTime | Specifies the earliest time of the day to initiate a trade. The format is in military time without the colon, whereas a negative value disables this entry filter. |
TradingEndTime | Specifies the latest time of the day to initiate a trade. The format is in military time without the colon, whereas a negative value disables this entry filter. |
The Alchemy Heikin-Ashi Exit strategy closes short positions when the Heikin-Ashi candles are bullish and it closes long positions when the Heikin-Ashi candles are bearish.
Strategy Inputs:
PercentExit |
Specifies the percent shares or contracts to exit, whereas a setting 100 exits all open positions. |
PositionSize |
Specifies the position size to be used for calculating the percent shares or contracts to exit. This could be specified as a fixed number of shares/contracts or strategy position reserved word such as currentcontracts or maxcontracts. |
OppositeExit |
With a setting of 0, the strategy exits in the direction of the Heikin-Ashi trend and with a setting of 1, the strategy exits in the opposite direction of the Heikin-Ashi trend. |
Length |
Specifies the look back length for using an average of the past number of bars, whereas a setting of -1 uses the standard and conventional method of calculating the Heikin-Ashi candle. |
MinConsecutiveBars | Specifies the minimum required number of consecutive trend bars, before positions are exited. |
The Alchemy Renko Entry/Exit Strategy enters long when the Renko candles turn bullish and it enters short when the Renko candles turn bearish.
Strategy Inputs:
Entry_1Stop2BarClose3NextBarOpen4Limit |
With a value of 1, the strategy enters at a stop order prior to the trend change with an automatic re-entry at the false reversals. With a value of 2, the strategy enters at the close of the first trend change bar, with a value of 3, the strategy enters at the open of the bar that follows the first trend change bar and with a value of 4, the strategy enters at a limit order at a potential trend reversal bar opening price. |
LimitEntryAdd |
Specifies the number of cents, ticks or pips to add to the potential trend reversal bar opening price for a limit entry. |
LimitEntryTrendReversalExit |
With a setting of 1, the strategy exits positions when the Renko bars change trend. This exit is active only for limit entry orders. |
The Alchemy Multiple Moving Averages Crossover strategies and entry signals generate an entry signal at a pullback to the slow moving average after the fast moving average crosses through the slow moving average(s). The Alchemy Multiple Moving Averages Crossover exit signals generate an exit signal when the fast moving average crosses through the slow moving average(s) against the currently held position.
The Alchemy MvgAvg2Line Entry/Exit Strategies consist of the AlchemyMA2LineBuy long entry strategy, the AlchemyMA2LineLongX long exit strategy, the AlchemyMA2LineSell short entry strategy and the AlchemyMA2LineShortX short exit strategy. For 2000i, all 4 signals are integrated into the AlchemyMA2LineSignal strategy. The entry strategies enter at a retracement to the slow line after the fast line crosses through the fast line and the exit strategies exit when the fast line crosses through the slow line against the currently held position. Additionally, the strategies AlchemyMA2LineXBuy and AlchemyMA2LineXSell enter at a simple crossover between the fast and the slow line.
User Defined Inputs for AlchemyMA2LineBuy and the AlchemyMA2LineSell strategies:
FastAvgPrice |
Specifies the price to be used for the fast moving average. |
FastAvgLength |
Specifies the length to be used for the fast moving average. |
FastAvgType |
Specifies the movign average type to be used for the fast moving average. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a hull average and a setting of 7 uses price as specified with the input FastAvgPrice. |
SlowAvgPrice |
Specifies the price to be used for the slow moving average. |
SlowAvgLength |
Specifies the length to be used for the slow moving average. |
SlowAvgType |
Specifies the movign average type to be used for the slow moving average. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a hull average and a setting of 7 uses price as specified with the input SlowAvgPrice. |
Average Slope Entry Filter: |
Requires a moving average up slope for a long entry and a moving average down slope for a short entry. |
SlopeAvgPrice |
Specifies the price to be used for the moving average of this moving average slope entry filter. |
SlopeAvgLength |
Specifies the length to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. |
SlopeAvgType |
Specifies the type to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a hull average and a setting of 7 uses price as specified with the input SlopeAvgPrice. |
MinPen | Specifies the minimum penetration distance for the high to break above the slow moving average before the strategy looks for a long entry at the retracement back down to the slow moving average and the minimum penetration distance for the low to break below the slow moving average before the strategy looks for a short entry at the retracement back up to the slow moving average. |
EntryAddDistance | Specifies the distance to add to the slow moving average for entering long at the retracement back down to the slow moving average and the distance to subtract from the slow moving average for entering short at the retracement back up to the slow moving average. |
PriceDecimal |
Specifies number of decimals for the entry price shown in the Analysis Commentary/Expert Commentary window. |
User Defined Inputs for AlchemyMA2LineXBuy and the AlchemyMA2LineXSell strategies:
InitEntries |
Specifies the number of contracts/shares to enter at the initial entry. |
AddOn |
Specifies the number of contracts/shares to enter at all consecutive add-on signals. |
Reverse |
Specifies the number of contracts/shares to enter at a reversal signal. |
FastAvg |
This user-defined input sets the fast moving average. |
SlowAvg |
This user-defined input sets the slow moving average. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
FastAvg |
This user-defined input sets the fast moving average. |
SlowAvg |
This user-defined input sets the slow moving average. |
The Alchemy Moving Average Slope Exit Strategy exits long positions when the moving average slopes down and it exits short positions when the moving average slopes up.
Strategy Inputs:
PercentExit |
Specifies the specifies the percent contracts to exit. |
SlopeAvgPrice |
Specifies the price to be used for the moving average of this moving average slope entry filter. |
SlopeAvgLength |
Specifies the length to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. |
SlopeAvgType |
Specifies the type to be used for the moving average of this moving average slope entry filter, whereas a setting of 0 disables this entry filter. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a hull average and a setting of 7 uses price as specified with the input SlopeAvgPrice. |
The Alchemy MvgAvg3Line Entry/Exit Signals consist of the AlchemyMA3LineBuy long entry signal, the AlchemyMA3LineLongX long exit signal, the AlchemyMA3LineSell short entry signal and the AlchemyMA3LineShortX short exit signal. For 2000i, all 4 signals are integrated into the AlchemyMA3LineSignal strategy.
User Defined Inputs for AlchemyMA3LineBuy and the AlchemyMA3LineSell strategies:
PriceDecimal |
Specifies number of decimals for the entry price shown in the Analysis Commentary/Expert Commentary window. |
User Defined Inputs for the long and short exit strategies:
NumExits |
This user-defined input sets the number of contracts/shares to exit. A setting of 0 exits all open positions. This input is defaulted to 0 contracts/shares. |
CrossAvg |
A setting of 1 generates an exit signal when the fast average penetrates the first slow average. A setting of 2 generates an exit signal when the fast average penetrates both slow averages. |
User Defined Inputs all strategies:
FastAvg |
This user-defined input sets the fast moving average and it is defaulted to a 8 bar length Mid-Keltner. |
SlowAvg1 |
This user-defined input sets the first slow moving average and it is defaulted to a 79 bar length simple moving average. |
SlowAvg2 |
This user-defined input sets the second slow moving average and it is defaulted to a 89 bar length exponential moving average. |
The Alchemy Multiple Moving Averages Crossover Strategies use 2 different methods of entries. With the retracement method (RetraceEntry set to 1), the strategy looks to enter at the first retracement back to the slow moving average(s) after the fast moving average crosses the slow moving average(s). With the crossover method (RetraceEntry set to 0), the strategy enters when the fast moving average crosses the slow moving average(s). These strategies also contain the following features:
A TrendCatcher entry filter
An initial stop
A point profit exit
A point distance trailing stop
A volatility stop
A profit target add-on
A separate add-on profit target
A moving averages crossover exit
An end of day exit.
The Alchemy Multiple 2 Line Moving Averages Crossover Strategy uses 2 different methods of entries. With the retracement method (RetraceEntry set to 1), the strategy looks to enter at the first retracement back to the slow moving average after the fast moving average crosses the slow moving average. With the crossover method (RetraceEntry set to 0), the strategy enters when the fast moving average crosses the slow moving average.
User Defined Inputs:
|
Entries: |
NumEntries |
Specifies the number of contracts/shares per entry. |
RetraceEntry |
Specifies the entry method. With RetraceEntry set to 1, the strategy looks to enter at the first retracement back to the slow moving average after the fast moving average crosses the slow moving average. With RetraceEntry set to 0, the strategy enters when the fast moving average crosses the slow moving average. |
ReverseEntry |
With ReverseEntry set to 1, the strategy reverses the entry signals as well as the moving averages cross exit signals. For example, when the fast moving average crosses over the slow moving average, the strategy will generate a sell short signal instead of a buy long signal. With ReverseEntry set to 0, the strategy uses the standard entry method. |
HighPrice |
Specifies the high price to be used for the retracement entry method. |
LowPrice |
Specifies the low price to be used for the retracement entry method. |
TrendCatcher_Length |
This input enables the Alchemy TrendCatcher entry filter and it specifies the TrendCatcher length. With this entry filter enabled, the strategy only takes long trades when the Alchemy TrendCatcher is bullish and the strategy only takes short trades when the Alchemy TrendCatcher is bearish. A setting of 0 disables this entry filter. Please note that anyone of the 2 inputs, TrendCatcher_Length or TrendCatcher_Factor, set to 0 will disable the Alchemy TrendCatcher entry filter. |
TrendCatcher_Factor |
This input enables the Alchemy TrendCatcher entry filter and it specifies the TrendCatcher factor. With this entry filter enabled, the strategy only takes long trades when the Alchemy TrendCatcher is bullish and the strategy only takes short trades when the Alchemy TrendCatcher is bearish. A setting of 0 disables this entry filter. Please note that anyone of the 2 inputs, TrendCatcher_Length or TrendCatcher_Factor, set to 0 will disable the Alchemy TrendCatcher entry filter. |
TrendCatcher_UseCloseTrail |
Specifies the price to set the Trend Catcher’s trailing distance from. A setting of 1 uses the close, whereas a setting of 0 uses the high in an uptrend and the low in a downtrend. |
TrendCatcher_UseCloseStop |
Specifies the price to use for changing the trend direction when the Trend Catcher’s trailing stop is penetrated. When set to 1, it uses the close. When set to 0, it uses the low in an uptrend and the high in a downtrend. |
NumAddOns |
This input enables the add-on feature. When a position reaches a minimum profit distance in number of ticks/pips from the entry price as specified by the input MinAddOnProfit and the fast moving average is still above the slow moving average for a long add-on or below the slow moving average for a short add-on, the strategy will add on x-number of contracts/shares as specified by this input. A setting of 0 disables this add-on feature. Please note that anyone of the 2 inputs, NumAddOns or MinAddOnProfit, set to 0 will disable the add-on feature. |
MinAddOnProfit |
This input enables the add-on feature. When a position reaches a minimum profit distance in number of ticks/pips from the entry price as specified by this input and the fast moving average is still above the slow moving average for a long add-on or below the slow moving average for a short add-on, the strategy will add on x-number of contracts/shares as specified by the input NumAddOns. A setting of 0 disables this add-on feature. Please note that anyone of the 2 inputs, NumAddOns or MinAddOnProfit, set to 0 will disable the add-on feature. |
|
Exits: |
ProtStop |
Specifies the protective stop distance in number of cents/ticks/pips from the entry price. A setting of 0 disables the protective stop. |
NumProfitTarget_Initial |
Specifies the number of contracts /shares to exit at the profit target |
ProfitTarget_Initial |
Specifies the profit target distance in number of cents/ticks/pips from the entry price. A setting of 0 disables the profit target. |
NumProfitTarget_AddOn |
Specifies the number of contracts /shares to exit at the profit target for the add-ons |
ProfitTarget_AddOn |
Specifies the profit target distance in number of cents/ticks/pips from the average entry price for the add-ons. A setting of 0 disables the profit target for the add-ons. |
VolatilityStop_Length |
This input enables the volatility trailing stop and it specifies the volatility length. A setting of 0 disables this stop. Please note that anyone of the 2 inputs, VolatilityStop_Length or VolatilityStop_Factor, set to 0 will disable the volatility trailing stop. |
VolatilityStop_Factor |
This input enables the volatility trailing stop and it specifies the volatility factor. Please note that anyone of the 2 inputs, VolatilityStop_Length or VolatilityStop_Factor, set to 0 will disable the volatility trailing stop. |
TrlStopDist |
Specifies the trailing stop distance in number of cents/ticks/pips from the position high. A setting of 0 disables the trailing stop. |
MinTrlProf |
Specifies the minimum profit in number of cents/ticks/pips from the entry price before the trailing stop is engaged. |
MinCrossExit |
Specifies the minimum crossover distance in number of cents/ticks/pips for the fast moving average to cross over the slow moving averages against the trade in order to exit all positions. A negative setting disables this moving averages crossover exit. |
DayStart |
Specifies the earliest allowed entry time. The format is in military charting time. For example, 2:00pm would be entered as 1400. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
EndOfDayX |
Specifies the End of Day exit time if applied on an intra-day chart. The strategy will exit all open positions on the close of this specified time. The format is in military charting time. For example, 2:00pm would be entered as 1400. A negative value disables the end of day exit. This input is ignored on daily, weekly and monthly charts. |
ExitOnClose |
A positive setting enables the exit on close. This exit closes out all positions at the closing bar, even if the market closes early on special pre-holidays trading days. |
|
Moving Averages: |
FastAverageType |
Specifies the fast moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input FastAveragePrice. |
SlowAverageType |
Specifies the slow moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input SlowAveragePrice. |
FastAveragePrice |
Specifies the fast moving average price. |
SlowAveragePrice |
Specifies the slow moving average price. |
FastAverageLength |
Specifies the fast moving average length. |
SlowAverageLength |
Specifies the slow moving average length. |
MinMACross |
Specifies the minimum number of cents, ticks or pips by which the fast average needs to cross the slow average. |
MinPriceCross |
Specifies the minimum amount by which price needs to clear the slow average. This input is only used with the retracement method when RetraceEntry is set to 1. |
|
Global: |
MinMoveOrDollarPoints |
With a setting of 1, all minimum crossing, stop and target distances are expressed in cents, ticks or pips and with a setting of 2, all minimum crossing, stop and target distances are expressed in dollars or points. |
The Alchemy Multiple 3 Line Moving Averages Crossover Strategy uses 2 different methods of entries. With the retracement method (RetraceEntry set to 1), the strategy looks to enter at the first retracement back to the slow moving averages after the fast moving average crosses both slow moving averages. The entry percent between both slow moving averages can be specified with the input Entry Percent. With the crossover method (RetraceEntry set to 0), the strategy enters when the fast moving average crosses both slow moving averages.
User Defined Inputs:
|
Entries: |
NumEntries |
Specifies the number of contracts/shares per entry. |
RetraceEntry |
Specifies the entry method. With RetraceEntry set to 1, the strategy looks to enter at the first retracement back to the slow moving average after the fast moving average crosses the slow moving average. With RetraceEntry set to 0, the strategy enters when the fast moving average crosses the slow moving average. |
UseSlow1Or2Only |
A setting of 0 uses both slow moving averages, a setting of 1 uses slow moving average 1 only and a setting of 2 uses slow moving average 2 only. |
EntryPercent |
Specifies the entry percent between both slow moving averages, whereas 0 enters at the closest slow moving average and 100 enters at the furthest slow moving average. This input is ignored with the crossover entry method when RetraceEntry is set to 0. |
TrendCatcher_Length |
This input enables the Alchemy TrendCatcher entry filter and it specifies the TrendCatcher length. With this entry filter enabled, the strategy only takes long trades when the Alchemy TrendCatcher is bullish and the strategy only takes short trades when the Alchemy TrendCatcher is bearish. A setting of 0 disables this entry filter. Please note that anyone of the 2 inputs, TrendCatcher_Length or TrendCatcher_Factor, set to 0 will disable the Alchemy TrendCatcher entry filter. |
TrendCatcher_Factor |
This input enables the Alchemy TrendCatcher entry filter and it specifies the TrendCatcher factor. With this entry filter enabled, the strategy only takes long trades when the Alchemy TrendCatcher is bullish and the strategy only takes short trades when the Alchemy TrendCatcher is bearish. A setting of 0 disables this entry filter. Please note that anyone of the 2 inputs, TrendCatcher_Length or TrendCatcher_Factor, set to 0 will disable the Alchemy TrendCatcher entry filter. |
TrendCatcher_UseCloseTrail |
Specifies the price to set the Trend Catcher’s trailing distance from. A setting of 1 uses the close, whereas a setting of 0 uses the high in an uptrend and the low in a downtrend. |
TrendCatcher_UseCloseStop |
Specifies the price to use for changing the trend direction when the Trend Catcher’s trailing stop is penetrated. When set to 1, it uses the close. When set to 0, it uses the low in an uptrend and the high in a downtrend. |
NumAddOns |
This input enables the add-on feature. When a position reaches a minimum profit distance in number of ticks/pips from the entry price as specified by the input MinAddOnProfit and the fast moving average is still above both slow moving averages for a long add-on or below both slow moving averages for a short add-on, the strategy will add on x-number of contracts/shares as specified by this input. A setting of 0 disables this add-on feature. Please note that anyone of the 2 inputs, NumAddOns or MinAddOnProfit, set to 0 will disable the add-on feature. |
MinAddOnProfit |
This input enables the add-on feature. When a position reaches a minimum profit distance in number of ticks/pips from the entry price as specified by this input and the fast moving average is still above both slow moving averages for a long add-on or below both slow moving averages for a short add-on, the strategy will add on x-number of contracts/shares as specified by the input NumAddOns. A setting of 0 disables this add-on feature. Please note that anyone of the 2 inputs, NumAddOns or MinAddOnProfit, set to 0 will disable the add-on feature. |
|
Exits: |
ProtStop |
Specifies the protective stop distance in number of cents/ticks/pips from the entry price. A setting of 0 disables the protective stop. |
NumProfitTarget_Initial |
Specifies the number of contracts /shares to exit at the profit target |
ProfitTarget_Initial |
Specifies the profit target distance in number of cents/ticks/pips from the entry price. A setting of 0 disables the profit target. |
NumProfitTarget_AddOn |
Specifies the number of contracts /shares to exit at the profit target for the add-ons |
ProfitTarget_AddOn |
Specifies the profit target distance in number of cents/ticks/pips from the average entry price for the add-ons. A setting of 0 disables the profit target for the add-ons. |
VolatilityStop_Length |
This input enables the volatility trailing stop and it specifies the volatility length. A setting of 0 disables this stop. Please note that anyone of the 2 inputs, VolatilityStop_Length or VolatilityStop_Factor, set to 0 will disable the volatility trailing stop. |
VolatilityStop_Factor |
This input enables the volatility trailing stop and it specifies the volatility factor. Please note that anyone of the 2 inputs, VolatilityStop_Length or VolatilityStop_Factor, set to 0 will disable the volatility trailing stop. |
TrlStopDist |
Specifies the trailing stop distance in number of cents/ticks/pips from the position high. A setting of 0 disables the trailing stop. |
MinTrlProf |
Specifies the minimum profit in number of cents/ticks/pips from the entry price before the trailing stop is engaged. |
MinCrossExit |
Specifies the minimum crossover distance in number of cents/ticks/pips for the fast moving average to cross over the furthest slow moving average against the trade in order to exit all positions. A negative setting disables this moving averages crossover exit. |
DayStart |
Specifies the earliest allowed entry time. The format is in military charting time. For example, 2:00pm would be entered as 1400. A negative value disables this feature. This input is ignored on daily, weekly and monthly charts. |
EndOfDayX |
Specifies the End of Day exit time if applied on an intra-day chart. The strategy will exit all open positions on the close of this specified time. The format is in military charting time. For example, 2:00pm would be entered as 1400. A negative value disables the end of day exit. This input is ignored on daily, weekly and monthly charts. |
ExitOnClose |
A positive setting enables the exit on close. This exit closes out all positions at the closing bar, even if the market closes early on special pre-holidays trading days. |
|
Moving Averages: |
FastAverageType |
Specifies the fast moving average type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input FastAveragePrice. |
SlowAverage1Type |
Specifies the slow moving average1 type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input SlowAverage1Price. |
SlowAverage2Type |
Specifies the slow moving average2 type. A setting of 1 uses a simple moving average, a setting of 2 uses an exponential moving average, a setting of 3 uses a weighted moving average, a setting of 4 uses a triangular moving average, a setting of 5 uses a Mid Keltner, a setting of 6 uses a Hull moving average, a setting of 7 uses price as specified with the input SlowAverage2Price. |
FastAveragePrice |
Specifies the fast moving average price. |
SlowAverage1Price |
Specifies the slow moving average1 price. |
SlowAverage2Price |
Specifies the slow moving average2 price. |
FastAverageLength |
Specifies the fast moving average length. |
SlowAverage1Length |
Specifies the slow moving average1 length. |
SlowAverage2Length |
Specifies the slow moving average2 length. |
MinMACross |
Specifies the minimum amount by which the fast average needs to cross both slow averages. |
MinPriceCross |
Specifies the minimum amount by which price needs to clear both slow averages. This input is only used with the retracement method when RetraceEntry is set to 1. |
The Alchemy Trailing Stop Entry Strategies consist of the AlchemyPivotStopLE long entry strategy and the AlchemyPivotStopSE short entry strategy.
User Defined Inputs:
InitEntries |
This user-defined input sets the number of contracts/shares to enter and it is defaulted to 1 contracts/shares. |
AddOn |
This user-defined input sets the number of contracts/shares to add on to an already open position and it is defaulted to 0 contracts/shares. |
ReversalEntry |
A positive setting enables the reversal entry which enters long when the short stop of the Alchemy Pivot Stop indicator is broken and it enters short when the long stop of the Alchemy Pivot Stop indicator is broken. A setting of 0 disables this entry method. |
TrendChangeEntry |
A positive setting enables the trend change entry which enters long as soon as the first long stop of the Alchemy Pivot Stop indicator is displayed and it enters short as soon as the short stop of the Alchemy Pivot Stop indicator is displayed. A setting of 0 disables this entry method. |
MarketEntry |
This input works in conjunction with the Reversal Entry. A positive setting enters at market as soon as the short or the long stop of the Alchemy Pivot Stop indicator is broken. With a setting of 0, the strategy places a buy stop order to go long at the short stop of the Alchemy Pivot Stop indicator and it places a sell stop order to go short at the long stop of the Alchemy Pivot Stop indicator. |
Reverse |
This user-defined input sets the number of contracts/shares to enter when there is an open position and a signal into the opposite direction is generated. This input is defaulted to 1 contracts/shares. |
RetrPivLength |
Specifies the minimum number of bars between highs for a valid retracement pivot low and the minimum number of bars between lows for a valid retracement pivot high |
MinRetrPercent |
pecifies the minimum required retracement percent for a qualifying retracement pivot, whereas a setting of 0 disables this requirement. |
MinimumPenetration |
Specifies the minimum cent, tick or pip distance for the price to penetrate through a previous retracement pivot in order for the trend to change. This input also automatically places the entry stop at this same distance. |
The Alchemy Pivot High-Low Stop Exit Strategies consist of the AlchemyPivotLowLS long exit strategy and the AlchemyPivotHighSS short exit strategy and they place stop orders to exit at the closest pivot.
User Defined Inputs:
Price |
Specifies the price to be used for the pivots. |
LeftStrength |
Specifies the minimum number of bars to the left of a pivot. |
RightStrength |
Specifies the minimum number of bars to the right of a pivot. |
PivotAdd |
Specifies the number of cents, ticks or pips to add to the pivot for placing the stop order. |
The Alchemy Trailing Stop Exit Strategies consist of the AlchemyPivotStopLS long exit strategy and the AlchemyPivotStopSS short exit strategy.
User Defined Inputs:
NumExit |
Specifies the number of contracts/shares to exit with this trailing stop. A setting of 0 exits all open positions. |
RetrPivLength |
Specifies the minimum number of bars between highs for a valid retracement pivot low and the minimum number of bars between lows for a valid retracement pivot high |
MinRetrPercent |
Specifies the minimum required retracement percent for a qualifying retracement pivot, whereas a setting of 0 disables this requirement. |
MinimumPenetration |
Specifies the minimum cent, tick or pip distance for the price to penetrate through a previous retracement pivot in order for the trend to change. This input also automatically places the trailing stop at this same distance. |
The Alchemy Volatility Stop Exit Strategies consist of the AlchemyVolatileLS long exit signal and the AlchemyVolatileSS short exit signal.
User Defined Inputs:
NumExit |
Specifies the number of contracts/shares to exit with this trailing stop. A setting of 0 exits all open positions. |
StopAdd |
Specifies the number of points to place a long stop below the most recent volatility range distance. Specifies the number of points to place the short stop above the most recent volatility range distance. |
VolatileLength |
Specifies the look back length for the volatility calculation. |
VolatileFact |
Specifies the volatility range multiplier |
Many traders set stops by risking a certain predetermined percentage of either the position high or the position profit. Our Alchemy Percent Stop Exit strategy accommodate both methods.
Method 1:
Trailing stop distance based off a specified percentage of the entry price or the position high in a long trade and the position low in a short trade.
Method 2:
Trailing Stop distance based off a specified percentage of the position profit. This method contains 4 different floor amounts and percentages. This gives the user the ability to tighten up stops as the position profit increases by using decreasing percentages for each higher floor amount.
Strategy Inputs:
Global Parameters: | |
ThisBarCloseEntry |
This input needs to be set to true if the entry strategies enter positions at the bar close and it needs to be set to false if the entry strategies enter positions at the bar open or intra-bar. |
UsePositionBasis |
This input is utilized only when anyone of the Floor Amounts are used for calculating the position profit either on a position basis when set to 1 or on a per contract/share basis when set to 0. |
Percent Stop Parameters (Method 1): | |
StopPcnt |
This input sets the percent stop distance. Please note that in order to use the percent profit stop (method 2), this input needs to be set to 0 |
FixedStopPcnt |
When set to 1, the percent stop distance is based on the entry price and when set to 0, the percent stop distance is based on the position high in a long trade and the position low in a short trade. |
Percent Profit Stop
Parameters (Method 2) Please note that in order to use this method, the input StopPcnt needs to be set to 0 |
|
Floor Level 1: | |
FloorAmt1: |
FloorAmnt1 is a numeric expression representing the amount of dollar profit to be reached before the first stop takes effect. |
FloorPcnt1: |
FloorPcnt1 is a numeric expression representing the amount of percent profit to be reached before the first stop takes effect. |
TrailingPct1: |
Trailing Pct1 is the percent of the profit for the first trailing stop that you are willing to lose. |
Floor Level 2: | |
FloorAmt2: |
FloorAmnt2 is a numeric expression representing the amount of dollar profit to be reached before the second stop takes effect. |
FloorPcnt2: |
FloorPcnt2 is a numeric expression representing the amount of percent profit to be reached before the second stop takes effect. |
TrailingPct2: |
Trailing Pct2 is the percent of the profit for the second trailing stop that you are willing to lose. |
Floor Level 3: | |
FloorAmt3: |
FloorAmnt3 is a numeric expression representing the amount of dollar profit to be reached before the third stop takes effect. |
FloorPcnt3: |
FloorPcnt3 is a numeric expression representing the amount of percent profit to be reached before the third stop takes effect. |
TrailingPct3: |
Trailing Pct3 is the percent of the profit for the third trailing stop that you are willing to lose. |
Floor Level 4: | |
FloorAmt4: |
FloorAmnt4 is a numeric expression representing the amount of dollar profit to be reached before the fourth stop takes effect. |
FloorPcnt4: |
FloorPcnt4 is a numeric expression representing the amount of percent profit to be reached before the fourth stop takes effect. |
TrailingPct4: |
Trailing Pct4 is the percent of the profit for the fourth trailing stop that you are willing to lose. |
The Alchemy Entry/Exit Strategies enter a position long or short at a specified time and price or else they can be used to automatically enter a position when they detectss an open position in the TradeManager. They then monitor this position with an initial risk stop, a profit target, a breakeven stop, a point/dollar trailing stop, an ATR trailing stop and an end of day (exit bar) exit. For an explanation on how to use these strategies, please review the following definition of inputs.
User Defined Inputs:
Strategy Entry :
Automatic Entry:
With this automatic entry method, the strategy detects an open position for the symbol as specified by the input SymbName and under the account number as specified by the input AccountNumber. It then activates an open position of the same quantity on the chart applied.
Please note that this is a real time feature and whenever the strategy recalculates by refreshing the chart or using the Analaysis Commentary tool, the strategy will move the entry bar to the current bar.
Please note that in this automatic entry mode, when manually initiating a trade, the strategy will place new entry orders when it is automated, and doubling up on the desired position size. Therefore, in order to use this feature in strategy automation mode, the strategy needs to be disabled at the time a trade is initiated manually and then enabled afterwards.
AccountNumber |
Specifies the account number of the open positions to be monitored. This is a text string input and the account number needs to be in quotation marks. With this automatic entry method, the strategy detects an open position for the symbol as specified by the input SymbName and under the account number as specified by the input AccountNumber. It then activates an open position of the same quantity on the chart applied. Please note that this is a real time feature and whenever the strategy recalculates by refreshing the chart or using the Analaysis Commentary tool, the strategy will move the entry bar to the current bar. To disable this automatic strategy entry method, anyone of the 2 inputs, AccountNumber or SymbName, can be left blank such as "". |
SymbName |
Specifies the symbol name of the open positions to be monitored. This is a text string input and the symbol name needs to be in quotation marks. With this automatic entry method, the strategy detects an open position for the symbol as specified by the input SymbName and under the account number as specified by the input AccountNumber. It then activated an open position of the same quantity on the chart applied. Please note that this is a real time feature and whenever the strategy recalculates by refreshing the chart or using the Analaysis Commentary tool, the strategy will move the entry bar to the current bar. To disable this automatic strategy entry method, anyone of the 2 inputs, AccountNumber or SymbName, can be left blank such as "". |
Manual Entry:
The Alchemy Entry/Exit (AlchemyEntryExit) and Alchemy Entry/Exit 1 Directional (AlchemyEntryExit1D) strategies | |
MyEntryPrice |
Pass in the actual entry price as a positive value for a long trade and as a negative value for a short trade. If the LongOrShort input is set to 1 or -1, the strategy enters a position at market, therefore, this input will be ignored in this case. To place an entry order at the current bar, set EntryBarDate_YYMMDD to 0, EntryBarTime_HHMM to 0, LongOrShort to 0 and MaxBars to -1. To place a stop buy order above the market or a limit buy order below the market, enter the stop or limit price as a positive value and to place a stop sell short order below the market or a limit sell short order above the market, enter the stop or limit price as a negative value. |
The Alchemy Entry/Exit 2 Directional (AlchemyEntryExit2D) strategies | |
MyLongEntryPrice |
Pass in the actual entry price as a positive value for a long trade. If the LongOrShort input is set to 1 or -1, the strategy enters a position at market, therefore, this input will be ignored in this case. To place an long entry order at the current bar, set EntryBarDate_YYMMDD to 0, EntryBarTime_HHMM to 0, LongOrShort to 0 and MaxBars to -1. To place a buy stop long order above the market or a buy limit long order below the market, enter the stop or limit price as a positive value. |
MyShortEntryPrice |
Pass in the actual entry price as a positive value for a short trade. If the LongOrShort input is set to 1 or -1, the strategy enters a position at market, therefore, this input will be ignored in this case. To place a short entry order at the current bar, set EntryBarDate_YYMMDD to 0, EntryBarTime_HHMM to 0, LongOrShort to 0 and MaxBars to -1. To place a sell short stop order below the market or a sell short limit order above the market, enter the stop or limit price as a positive value. |
With both MyLongEntryPrice and MyShortEntryPrice used, the strategy places a bracket order at a stop price to go long above or to go short below the market or at a limit price to go short above or to go long below the market, which ever order is triggered first and the entry order in the opposite direction is then cancelled. | |
The remaining inputs apply to all 3 strategies: | |
MyEntryPricePercentage |
Specifies the percentage to add to MyEntryPrice for a long entry and subtract from MyEntryPrice for a short entry. |
EntryBarDate_YYMMDD |
Pass in the date of the bar at which the entry occurred in the given format. For example, for an entry date of 6/16/2003, the value for this input would be 030616. On intra-day charts, a setting of 0 enters a position at the current day. |
EntryBarTime_HHMM |
For intraday charts, pass in the time of the bar in 24 hr format, at which the entry occurred. For example, for an entry time of 1:00pm the value for this input would be 1300. For daily, weekly and monthly charts, the time is ignored. With EntryBarDate_YYMMDD set to 0, the strategy enters at the specified time of the current day. With this input set to 0, the strategy can be used as follows: 1.) To enter at the current bar with a market order: Set LongOrShort to either 1 for a long entry or -1 for a short entry 2.) To enter at a specified price as a stop or limit entry, set LonOrShort to 0 and enter the entry price into the MyEntryPrice input, either as positive number for a long entry or as a negative number for a short entry. |
LongOrShort |
Pass in 1 for going long at the close on the entry bar specified, pass in -1 for going short at the close of the entry bar specified. Pass in 0 for entering at the price limit specified in the MyEntryPrice input above. |
Quantity |
Specifies the number of shares or contracts to buy or sell short. |
MaxBars |
If the entry price is not found at the entry bar, the strategy will continue to search maximum number of bars for a bar that is within the range of the specified entry price. If the entry price is not found by the end of the search, the strategy enters on the close of the last bar. This ensures that the strategy will always enter a position, even is the price was not found. This input works in conjunction with the MyEntryPrice, EntryBarDate_YYMMDD and EntryBarTime_HHMM inputs when the LongOrShort input set to 0. A negative setting disables this requirement and the strategy will wait to enter until the entry price as specified by the MyEntryPrice input is hit. |
X_Market |
Exit at market set to false, generates stop and limit orders to exit or reverse positions. Exit at market set to true, generates market orders to exit or reverse positions when the market reaches a stop or a target. |
SAR |
Stop and Reverse set to true, continuously reverses a position into the opposite direction when a point profit or dollar profit is reached. |
MaxConsecLoss |
Specifies the maximum number of consecutive add on loss entries (add more contracts/shares to the currently held position if the market moves against the current position by a specified amount) |
MaxConsecProf |
Specifies the maximum number of consecutive add on profit entries (add more contracts/shares to the currently held position if the market moves in favor of the current position by a specified amount) |
MarketAddOn |
Market add on set to false, generates stop and limit orders to add more contracts/shares to the currently held position. Market add on set to true, generates market orders to add more contracts/shares to the currently held position when the market reaches a stop or a target. |
NumProfAddOn |
Specifies the number of contracts/shares to add to the currently held position if the market moves in favor of the current position by a specified amount. |
NumLossAddOn |
Specifies the number of contracts/shares to add to the currently held position if the market moves against the current position by a specified amount. |
MyAddOnProfPrice |
Specifies the price at which to add more contracts/shares to the currently held position if the market moves in favor of the current position. |
MyAddOnLossPrice |
Specifies the price at which to add more contracts/shares to the currently held position if the market moves against the current position |
MyAddOnProfDist |
Specifies the point/dollar distance from the average entry price at which to add more contracts/shares to the currently held position if the market moves in favor of the current position. |
MyAddOnLossDist |
Specifies the point/dollar distance from the average entry price at which to add more contracts/shares to the currently held position if the market moves against the current position. |
MyAddOnProfDollar |
Specifies the current position’s dollar profit distance at which to add more contracts/shares to the currently held position if the market moves in favor of the current position. |
MyAddOnLossDollar |
Specifies the current position’s dollar profit distance at which to add more contracts/shares to the currently held position if the market moves against the current position. |
Strategy Profit Exit:
MyExitPrice |
Pass in the actual exit price. For a long entry, the strategy places a limit sell order at the specified exit price. For a short entry, the strategy places a limit buy order at the specified exit price. A value of 0, disables this type of exit. |
MyPointProf |
For stocks, pass in the dollar profit distance per share from the entry price. For futures, pass in the point profit distance per contract from the entry price. For a long entry, the strategy places a limit sell order dollar/point amount above the long entry price. For a short entry, the strategy places a limit buy order dollar/point amount below the short entry price. A value of 0, disables this type of exit. |
MyDollarProf |
Pass in the dollar profit amount for the entire position (all shares/contracts) and the strategy calculates the point/dollar move based on the position size. For a long entry, the strategy places a limit sell order dollar/point amount above the long entry price. For a short entry, the strategy places a limit buy order dollar/point amount below the short entry price. A value of 0, disables this type of exit. |
MyExitPercent |
Pass in the percent profit from the entry price to exit. A value of 0, disables this type of exit. |
NumProfX |
Specifies the number of contracts/shares to exit at any one of the above profit targets. A value of 0 exits all positions at any one of the above profit targets. |
Strategy Initial Risk Stop:
MyInitialRisk |
For stocks, pass in the dollar risk distance per share from the entry price. For futures, pass in the point risk distance per contract from the entry price. For a long entry, the strategy places a sell stop order for all open positions, dollar/point amount below the long entry price. For a short entry, the strategy places a buy stop order for all open positions, dollar/point amount above the short entry price. A value of 0, disables this type of stop. |
MyStopPrice |
Pass in the actual stop price. For a long entry, the strategy places a sell stop order for all open positions, at the specified stop price. For a short entry, the strategy places a buy stop order for all open positions, at the specified stop price. A value of 0, disables this type of exit. |
MyDollarRisk |
Pass in the dollar risk amount for the entire position (all shares/contracts) and the strategy calculates the point/dollar move based on the position size. For a long entry, it places a sell stop order for all positions, dollar/point amount below the long entry price. For a short entry, the strategy places a buy stop order for all positions, dollar/point amount above the short entry price. A value of 0, disables this type of exit. |
MyStopPercent |
Pass in the percent loss from the entry price for placing the stop loss. A value of 0, disables this type of stop loss. |
Strategy Breakeven Stop:
MyBkEvProf |
For stocks, pass in the minimum dollar profit per share from the entry price before the breakeven stop will be initiated. For futures, pass in the minimum point profit per contract from the entry price before the breakeven stop will be initiated. A value of 0, disables this type of stop. |
MyLockInDist |
For stocks, pass in the dollar profit per share to lock in, once the minimum position profit as determined by the MyBkEvProf input is reached. For futures, pass in the point profit per contract to lock in, once the minimum position profit as determined by the MyBkEvProf input is reached. For a long entry, the strategy places a sell stop order dollar/point amount above the long entry price. For a short entry, the strategy places a buy stop order dollar/point amount above the short entry price. |
MyBkEvDollar |
Pass in the minimum dollar profit amount for the entire position (all shares/contracts) before the breakeven stop will be initiated. The strategy calculates the point/dollar move based on the position size. A value of 0, disables this type of stop. |
MyLockInDollar |
Pass in the dollar profit amount for the entire position (all shares/contracts) to lock in, once the minimum position profit as determined by the MyBkEvDollar input is reached. The strategy calculates the point/dollar move based on the position size. For a long entry, the strategy places a sell stop order dollar/point amount above the long entry price. For a short entry, the strategy places a buy stop order dollar/point amount above the short entry price. |
NumBkEvX |
Specifies the number of contracts/shares to exit at any one of the above breakeven stops. A value of 0 exits all positions at any one of the above breakeven stops. |
Strategy Trailing Stop:
MyTrailPercent |
Specifies the percent trailing stop distance. This input takes priority over the point distance and dollar distance trailing stop and in order to use the point distance or dollar distance trailing stop, this inputs needs to be set to 0, which disables the percent trailing stop. |
MinTrailPercent |
Specifies the minimum percent profit to be reached in order to activate the percent trailing stop. A setting of 0 disables this minimum percent profit threshold. |
MyTrailDist |
For stocks, pass in the dollar distance per share to trail the position, once the minimum position profit as determined by the MinTrailProf input is reached. For futures, pass in the point distance per contract to trail the position, once the minimum position profit as determined by the MinTrailProf input is reached. For a long entry, the strategy places a sell stop order dollar/point amount below the position high, therefore trailing the current position based on the highest high since the entry. For a short entry, the strategy places a buy stop order dollar/point amount above the position low, therefore trailing the current position based on the lowes low since the entry. A value of 0, disables this type of stop. |
MinTrailProf |
For stocks, pass in the minimum dollar profit per share from the entry price before the trailing stop will be initiated. For futures, pass in the minimum point profit per contract from the entry price before the trailing stop will be initiated. |
MyTrailDollar |
Pass in the dollar profit distance for the entire position (all shares/contracts) to trail the position, once the minimum position profit as determined by the MinTrailDollar input is reached. The strategy calculates the point/dollar move based on the position size. For a long entry, the strategy places a sell stop order dollar/point amount below the position high, therefore trailing the current position based on the highest high since the entry. For a short entry, the strategy places a buy stop order dollar/point amount above the position low, therefore trailing the current position based on the lowes low since the entry. A value of 0, disables this type of stop. |
MinTrailDollar |
Pass in the minimum dollar profit amount for the entire position (all shares/contracts) before the trailing stop will be initiated. The strategy calculates the point/dollar move based on the position size. |
NumTrailX |
Specifies the number of contracts/shares to exit at any one of the above trailing stops. A value of 0 exits all positions at any one of the above trailing stops. |
TrailBarDate_YYMMDD |
Pass in the date of the first bar from which the trailing stop is to be initiated. For example, for a trailing bar date of 6/16/2003, the value for this input would be 030616. A value of 0 will start the trailing stop from the entry bar. |
TrailBarTime_HHMM |
For intraday charts, pass in the time of the first bar in 24 hr format from which the trailing stop is to be initiated. For example, for a trailing bar time of 1:00pm the value for this input would be 1300. For daily, weekly and monthly charts, the time is ignored. |
ATR Trailing Stop:
ATRLength |
Specifies the ATR length, whereas a setting of 0 disables the ATR trailing stop. |
NumATRs |
Specifies the ATR multiplier for calculating the ATR trailing stop distance to be subtracted from the position high for long positions and to be added to the position low for short positions. A setting of 0 disables the ATR trailing stop. |
End Of Day (Exit Bar) Exit:
ExitBarDate_YYMMDD |
Pass in the date of the bar to exit all positions. In intra-day charts, with a value of 0, the strategy uses the current date. |
ExitBarTime_HHMM |
For intraday charts, pass in the time of the bar in 24 hr format to exit all positions. For example, for an exit time of 1:00pm the value for this input would be 1300. For daily, weekly and monthly charts, the time is ignored. |
The Alchemy Exit Strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their individual minimum profit threshold. For example, stop 1 can be set as an initial protective stop, stop 2 can be set as a breakeven or lock in profit stop once a certain position profit is reached and stop 3 can be set as a trailing stop once a certain position profit is reached. Each stop has the option of exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Global Inputs:
NumberEntries |
Specifies the fixed number of contracts/shares for each position in order to calculate the number of contracts/shares to exit at the various profit targets. With a setting of 0, the strategy automatically detects the number of contracts/shares as initiated on the chart. When specified a fixed number of contracts/shares for each position with this input, the strategy has the capability of placing the target limit orders together with the entry orders, otherwise, it won't be able to detect the number of entries until the entry bar. |
LongEntryType |
A setting of 0 instructs the strategy that the long entry is being generated as a "this bar close" order, a setting of 1 instructs the strategy that the long entry is being generated as a market order, a setting of 2 instructs the strategy that the long entry is being generated as a stop market order and a setting of 3 instructs the strategy that the long entry is being generated as a limit order. This function helps the strategy to accurately calculate the moving stops at the long entry bar and for "this bar close" entry orders, to correctly identify the long entry bar. |
ShortEntryType |
A setting of 0 instructs the strategy that the short entry is being generated as a "this bar close" order, a setting of 1 instructs the strategy that the short entry is being generated as a market order, a setting of 2 instructs the strategy that the short entry is being generated as a stop market order and a setting of 3 instructs the strategy that the short entry is being generated as a limit order. This function helps the strategy to accurately calculate the moving stops at the short entry bar and for "this bar close" entry orders, to correctly identify the short entry bar. |
Long Entry:
LongEntryPrice |
Specifies the price such as open, high, low or close, to be used for calculating the long exits when placing exit orders together with long entry orders. With a setting of 0, the strategy places the long exit orders at the close of the entry bar. |
LongEntryAddSubtract |
Specifies the number of cents, ticks or pips to add to or subtract from the long entry price as specified with the input LongEntryPrice for calculating the long exits when placing exit orders together with long entry orders. |
Short Entry:
ShortEntryPrice |
Specifies the price such as open, high, low or close, to be used for calculating the short exits when placing exit orders together with short entry orders. With a setting of 0, the strategy places the short exit orders at the close of the entry bar. |
ShortEntryAddSubtract |
Specifies the number of cents, ticks or pips to add to or subtract from the short entry price as specified with the input ShortEntryPrice for calculating the short exits when placing exit orders together with short entry orders. |
Global Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
Stops:
Stop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Stop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Stop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Stop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Stop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Stop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Stop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Stop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Stop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Stop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Targets:
Target1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Target2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Target3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Target1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Target2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Target3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy Exit Long Short Strategy contains the following exits:
3 individual stops that can be used as fixed stops or trailing stops with their individual minimum profit threshold. For example, stop 1 can be set as an initial protective stop, stop 2 can be set as a breakeven or lock in profit stop once a certain position profit is reached and stop 3 can be set as a trailing stop once a certain position profit is reached. Each stop has the option of exiting a specified number of contracts or shares.
3 profit targets for exiting a specified number of contracts or shares.
Each exit parameter can be specified separately for long and short exits.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Global Inputs:
NumberLongEntries |
Specifies the fixed number of contracts/shares for each long position in order to calculate the number of contracts/shares to exit at the various profit targets. With a setting of 0, the strategy automatically detects the number of contracts/shares as initiated on the chart. When specified a fixed number of contracts/shares for each position with this input, the strategy has the capability of placing the target limit orders together with the entry orders, otherwise, it won't be able to detect the number of entries until the entry bar. |
NumberShortEntries |
Specifies the fixed number of contracts/shares for each short position in order to calculate the number of contracts/shares to exit at the various profit targets. With a setting of 0, the strategy automatically detects the number of contracts/shares as initiated on the chart. When specified a fixed number of contracts/shares for each position with this input, the strategy has the capability of placing the target limit orders together with the entry orders, otherwise, it won't be able to detect the number of entries until the entry bar. |
LongEntryType |
A setting of 0 instructs the strategy that the long entry is being generated as a "this bar close" order, a setting of 1 instructs the strategy that the long entry is being generated as a market order, a setting of 2 instructs the strategy that the long entry is being generated as a stop market order and a setting of 3 instructs the strategy that the long entry is being generated as a limit order. This function helps the strategy to accurately calculate the moving stops at the long entry bar and for "this bar close" entry orders, to correctly identify the long entry bar. |
ShortEntryType |
A setting of 0 instructs the strategy that the short entry is being generated as a "this bar close" order, a setting of 1 instructs the strategy that the short entry is being generated as a market order, a setting of 2 instructs the strategy that the short entry is being generated as a stop market order and a setting of 3 instructs the strategy that the short entry is being generated as a limit order. This function helps the strategy to accurately calculate the moving stops at the short entry bar and for "this bar close" entry orders, to correctly identify the short entry bar. |
Long Entry:
LongEntryPrice |
Specifies the price such as open, high, low or close, to be used for calculating the long exits when placing exit orders together with long entry orders. With a setting of 0, the strategy places the long exit orders at the close of the entry bar. |
LongEntryAddSubtract |
Specifies the number of cents, ticks or pips to add to or subtract from the long entry price as specified with the input LongEntryPrice for calculating the long exits when placing exit orders together with long entry orders. |
Short Entry:
ShortEntryPrice |
Specifies the price such as open, high, low or close, to be used for calculating the short exits when placing exit orders together with short entry orders. With a setting of 0, the strategy places the short exit orders at the close of the entry bar. |
ShortEntryAddSubtract |
Specifies the number of cents, ticks or pips to add to or subtract from the short entry price as specified with the input ShortEntryPrice for calculating the short exits when placing exit orders together with short entry orders. |
Global Exits:
MinMoveOrDollarPointsOrPercent |
With a setting of 1, all stop and target distances are expressed in cents, ticks or pips, with a setting of 2, all stop and target distances are expressed in dollars or points and with a setting of 3, all stop and target distances are expressed in percent. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Long/Short Stops:
Long/ShortStop1Type |
Specifies the stop type to be used for the first stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Long/ShortStop2Type |
Specifies the stop type to be used for the second stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Long/ShortStop3Type |
Specifies the stop type to be used for the third stop, whereas a setting of 0 disables this stop, a setting of 1 uses a fixed stop from the entry price and a setting of 2 uses a trailing stop from the position high/low. |
Long/ShortStop1PercentExit |
Specifies the percent contracts/shares to exit at the first stop, whereas a setting of 0 disables the first stop. |
Long/ShortStop2PercentExit |
Specifies the percent contracts/shares to exit at the second stop, whereas a setting of 0 disables the second stop. |
Long/ShortStop3PercentExit |
Specifies the percent contracts/shares to exit at the third stop, whereas a setting of 0 disables the third stop. |
Long/ShortStop1Distance |
Specifies the distance to place the first stop away from the entry price if a fixed stop is used and the distance to trail the first stop away from the position high/low if a trailing stop is used. A setting of 0 disables the first stop. |
Long/ShortStop2Distance |
Specifies the distance to place the second stop away from the entry price if a fixed stop is used and the distance to trail the second stop away from the position high/low if a trailing stop is used. A setting of 0 disables the second stop. |
Long/ShortStop3Distance |
Specifies the distance to place the third stop away from the entry price if a fixed stop is used and the distance to trail the third stop away from the position high/low if a trailing stop is used. A setting of 0 disables the third stop. |
Long/ShortStop1MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the first stop is activated. With a setting of 0, the first stop is always active, with a setting of -1, the first stop is activated as soon as the first profit target is reached, with a setting of -2, the first stop is activated as soon as the second profit target is reached and with a setting of -3, the first stop is activated as soon as the third profit target is reached. |
Long/ShortStop2MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the second stop is activated. With a setting of 0, the second stop is always active, with a setting of -1, the second stop is activated as soon as the first profit target is reached, with a setting of -2, the second stop is activated as soon as the second profit target is reached and with a setting of -3, the second stop is activated as soon as the third profit target is reached. |
Long/ShortStop3MinProfitDistance |
Specifies the minimum profit distance from the entry price as to when the third stop is activated. With a setting of 0, the third stop is always active, with a setting of -1, the third stop is activated as soon as the first profit target is reached, with a setting of -2, the third stop is activated as soon as the second profit target is reached and with a setting of -3, the third stop is activated as soon as the third profit target is reached. |
Long/Short Targets:
Long/ShortTarget1PercentExit |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Long/ShortTarget2PercentExit |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Long/ShortTarget3PercentExit |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Long/ShortTarget1Distance |
Specifies the distance to place the first profit target from the entry price, whereas a setting of 0 disables the first profit target. |
Long/ShortTarget2Distance |
Specifies the distance to place the second profit target from the entry price, whereas a setting of 0 disables the second profit target. |
Long/ShortTarget3Distance |
Specifies the distance to place the third profit target from the entry price, whereas a setting of 0 disables the third profit target. |
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
The Alchemy Breakeven Exit Strategy places a breakeven stop when a specified minimum position profit is reached. All distances can be expressed in either points/dollars or cents/ticks/pips.
Strategy Inputs:
Global Inputs:
NumberEntries |
Specifies the fixed number of contracts/shares for each position. |
Stops:
|
Distances expressed in dollars/points per share/contract: |
MinBrkEvProfDist |
Specifies the minimum profit dollar or point distance from the entry price as to when the breakeven stop is activated. |
BrkEvAddDist |
Specifies the dollar or point distance to add to the entry price for placing the breakeven stop. |
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Distances expressed in cents/ticks/pips per share/contract: |
MinBrkEvProfMove |
Specifies the minimum profit cent, tick or pip distance from the entry price as to when the breakeven stop is activated. In order to utilize this input, the previous input MinBrkEvProfDist has to be set to 0. |
BrkEvAddMove |
Specifies the cent, tick or pip distance to add to the entry price for placing the breakeven stop. In order to utilize this input, the previous input MinBrkEvProfMove has to be set to 0. |
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In order to disable the breakeven stop, both inputs MinBrkEvProfDist and MinBrkEvProfMove have to be set to 0. |
The Alchemy Exit Strategy with Dynamic Profit Targets and End of Day Exit contains the following exits:
An initial protective stop, a breakeven stop and a trailing stop. All distances can be expressed in either points/dollars or cents/ticks/pips.
3 profit targets. All distances can be expressed in either points/dollars, cents/ticks/pips or dynamic market range percentages.
An end of day exit
With strategy automation set to "Adopt the real-world position for the current account", this strategy can execute all exit orders that have been initiated manually, without having to apply an entry strategy to the chart.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Global Inputs:
NumberEntries |
Specifies the fixed number of contracts/shares for each position in order to calculate the number of contracts/shares to exit at the various profit targets. |
Stops:
|
Initial protective stop: |
InStopDist |
Specifies the dollar or point distance to place the protective stop from the entry price. |
InStopMove |
Specifies the cent, tick or pip distance to place the protective stop from the entry price. In order to utilize this input, the previous input InStopDist has to be set to 0. |
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In order to disable the initial protective stop, both inputs InStopDist and InStopMove have to be set to 0. |
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Breakeven stop: |
MinBrkEvProfDist |
Specifies the minimum profit dollar or point distance from the entry price as to when the breakeven stop is activated. |
BrkEvAddDist |
Specifies the dollar or point distance to add to the entry price for placing the breakeven stop. |
MinBrkEvProfMove |
Specifies the minimum profit cent, tick or pip distance from the entry price as to when the breakeven stop is activated. In order to utilize this input, the previous input MinBrkEvProfDist has to be set to 0. |
BrkEvAddMove |
Specifies the cent, tick or pip distance to add to the entry price for placing the breakeven stop. |
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In order to disable the breakeven stop, both inputs MinBrkEvProfDist and MinBrkEvProfMove have to be set to 0. |
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Trailing stop: |
TrlStopDist |
Specifies the dollar or point distance to place the protective stop from the position high. |
MinTrlProfDist |
Specifies the minimum profit dollar or point distance from the entry price as to when the trailing stop is activated. With a value of 0, the trailing stop is activated without any requirements. |
TrlStopMove |
Specifies the cent, tick or pip distance to place the trailing stop from the position high. In order to utilize this input, the previous input TrlStopDist has to be set to 0. |
MinTrlProfMove |
Specifies the minimum profit cent, tick or pip distance from the entry price as to when the trailing stop is activated. In order to utilize this input, the previous input MinTrlProfDist has to be set to 0. With a value of 0, the trailing stop is activated without any requirements. |
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In order to disable the trailing stop, both inputs TrlStopDist and TrlStopMove have to be set to 0. |
Targets:
|
Target 1: |
Targ1PrcntX |
Specifies the percent contracts/shares to exit at the first profit target, whereas a setting of 0 disables the first profit target. |
Targ1Dist |
Specifies the dollar or point distance to place the first profit target from the entry price. |
Targ1Move |
Specifies the cent, tick or pip distance to place the first profit target from the entry price. In order to utilize this input, the previous input Targ1Dist has to be set to 0. |
Targ1PcntDist |
Specifies the current market range percent to use as a distance for placing the first profit target from the entry price. In order to utilize this input, the previous inputs Targ1Dist and Targ1Move have to be set to 0. |
Targ1Length |
Specifies the number of look back bars for determining the current market range of the first profit target. |
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Target 2: |
Targ2PrcntX |
Specifies the percent contracts/shares to exit at the second profit target, whereas a setting of 0 disables the second profit target. |
Targ2Dist |
Specifies the dollar or point distance to place the second profit target from the entry price. |
Targ2Move |
Specifies the cent, tick or pip distance to place the second profit target from the entry price. In order to utilize this input, the previous input Targ2Dist has to be set to 0. |
Targ2PcntDist |
Specifies the current market range percent to use as a distance for placing the second profit target from the entry price. In order to utilize this input, the previous inputs Targ2Dist and Targ2Move have to be set to 0. |
Targ2Length |
Specifies the number of look back bars for determining the current market range of the second profit target. |
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Target 3: |
Targ3PrcntX |
Specifies the percent contracts/shares to exit at the third profit target, whereas a setting of 0 disables the third profit target. |
Targ3Dist |
Specifies the dollar or point distance to place the third profit target from the entry price. |
Targ3Move |
Specifies the cent, tick or pip distance to place the third profit target from the entry price. In order to utilize this input, the previous input Targ3Dist has to be set to 0. |
Targ3PcntDist |
Specifies the current market range percent to use as a distance for placing the third profit target from the entry price. In order to utilize this input, the previous inputs Targ3Dist and Targ3Move have to be set to 0. |
Targ3Length |
Specifies the number of look back bars for determining the current market range of the third profit target. |
End of Day Exit:
EndOfDayX_StartTme |
Specifies the session start time in order for the strategy to correctly calculate the end of day exit time. The format is in military charting time without the colon. |
EndOfDayX_EndTme |
Specifies the end of day exit time. The format is in military charting time without the colon. A negative value disables this exit. |
The Alchemy Daily Accumulated Profit-Loss Exit Strategy exits open positions that have been initiated by other entry strategies on the chart once a specified daily accumulated position profit or loss has been reached. In order for the corresponding entry strategy to also stop trading when a specified daily accumulated profit/loss is reached, this exit strategy comes with a function that can be pasted into the code of any entry strategy. This function contains a maximum dollar profit input as well as a maximum dollar loss amount input and it returns true/false so that this condition can be added to other entry conditions of the corresponding entry strategy. For a function definition and a code example, please go to
http://www.tradingalchemy.com/Download/Functions/AlchemyDailyAccumPLEx.htm
Strategy Inputs:
MaximumProfit |
Specifies the maximum daily accumulated position profit dollar amount at which time the strategy exits all positions. A setting of 0 disables the maximum daily accumulated position profit functionality. |
MaximumLoss |
Specifies the maximum daily accumulated position loss dollar amount at which time the strategy exits all positions. A setting of 0 disables the maximum daily accumulated position loss functionality. |
SessionStartTme |
Specifies the session start time for detecting the beginning of a new session and for the strategy to zero out the daily accumulated position profit/loss. The format of this input is in military charting time without the colon such as 1300 for 1:00pm or 13:00. With a negative setting such as -1, the strategy automatically uses the calendar date for the session start time. |
SessionEndTme |
Specifies the session end time for detecting the beginning of a new session and for the strategy to zero out the daily accumulated position profit/loss. The format of this input is in military charting time without the colon such as 1300 for 1:00pm or 13:00. With a negative setting such as -1, the strategy automatically uses the calendar date for the session end time. |
ExcludeDayOfWeek |
Specifies the day of the week to exclude from a session for zeroing out the daily accumulated position profit/loss, whereas 0=Sunday, 1=Monday, 2=Tuesday, 3=Wednesday, 4=Thursday, 5=Friday, 6=Saturday and a negative setting disables this feature. |
ExitOnClose |
With a setting of 0, the strategy exits on the close of the bar regardless if the strategy is set to intra-bar order generation or not. With a setting of 1, the strategy exits at the open of the next bar when intra-bar order generation is disabled and when intra-bar order generation is enabled, the strategy exits on the same bar before the close of the bar as soon as a maximum daily accumulated position profit or loss is reached intra-bar. |
EntryBar |
In order to correctly detect the entry bar of the strategies that are applied on the chart, this input should be set 0 when the strategies that are applied on the chart enter positions on the next bar such as with market, limit and stop entry orders. When the strategies that are applied on the chart enter positions on the close of the same bar by using this bar on close entry orders, this input should be set 1. |
ExitBar |
In order to correctly detect the exit bar of the strategies that are applied on the chart, this input should be set 0 when the strategies that are applied on the chart exit positions on the next bar such as with market, limit and stop exit orders. When the strategies that are applied on the chart exit positions on the close of the same bar by using this bar on close exit orders, this input should be set 1. |
The Alchemy Dynamic Target Exit Strategy contains 3 dynamic profit targets for exiting a specified number of contracts or shares at each profit target. Each profit target is based on the market range percentage from bar to bar and it adjusts itself dynamically as the market range expands or contracts. Therefore, these profit targets are self adaptive to the current market movement rather than using a fixed point or dollar profit target. The profit targets for long and short trades can be specified separately.
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Global Inputs:
NumberEntries |
Specifies the fixed number of contracts/shares for each position in order to calculate the number of contracts/shares to exit at the various profit targets. With a setting of 0, the strategy automatically detects the number of contracts/shares as initiated on the chart. When specified a fixed number of contracts/shares for each position with this input, the strategy has the capability of placing the target limit orders together with the entry orders, otherwise, it won't be able to detect the number of entries until the entry bar. |
LongEntryType |
A setting of 0 instructs the strategy that the long entry is being generated as a "this bar close" order, a setting of 1 instructs the strategy that the long entry is being generated as a market order, a setting of 2 instructs the strategy that the long entry is being generated as a stop market order and a setting of 3 instructs the strategy that the long entry is being generated as a limit order. This function helps the strategy to accurately calculate the long targets at the long entry bar and for "this bar close" entry orders, to correctly identify the long entry bar. |
ShortEntryType |
A setting of 0 instructs the strategy that the short entry is being generated as a "this bar close" order, a setting of 1 instructs the strategy that the short entry is being generated as a market order, a setting of 2 instructs the strategy that the short entry is being generated as a stop market order and a setting of 3 instructs the strategy that the short entry is being generated as a limit order. This function helps the strategy to accurately calculate the short targets at the short entry bar and for "this bar close" entry orders, to correctly identify the short entry bar. |
Long Entry:
LongEntryPrice |
Specifies the price such as open, high, low or close, to be used for calculating the long exits when placing exit orders together with long entry orders. With a setting of 0, the strategy places the long exit orders at the close of the entry bar. |
LongEntryAddSubtract |
Specifies the number of cents, ticks or pips to add to or subtract from the long entry price as specified with the input LongEntryPrice for calculating the long exits when placing exit orders together with long entry orders. |
Short Entry:
ShortEntryPrice |
Specifies the price such as open, high, low or close, to be used for calculating the short exits when placing exit orders together with short entry orders. With a setting of 0, the strategy places the short exit orders at the close of the entry bar. |
ShortEntryAddSubtract |
Specifies the number of cents, ticks or pips to add to or subtract from the short entry price as specified with the input ShortEntryPrice for calculating the short exits when placing exit orders together with short entry orders. |
Targets:
Long Targets:
LongTarget1PercentExit |
Specifies the percent contracts/shares to exit at the first long profit target, whereas a setting of 0 disables the first long profit target. |
LongTarget2PercentExit |
Specifies the percent contracts/shares to exit at the second long profit target, whereas a setting of 0 disables the second long profit target. |
LongTarget3PercentExit |
Specifies the percent contracts/shares to exit at the third long profit target, whereas a setting of 0 disables the third long profit target. |
LongTarget1Length |
Specifies the numbers of bars to look back for the current market range for calculating the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. |
LongTarget2Length |
Specifies the numbers of bars to look back for the current market range for calculating the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. |
LongTarget3Length |
Specifies the numbers of bars to look back for the current market range for calculating the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. |
LongTarget1Percent |
Specifies the current market range percent to use as a distance for placing the first long profit target from the entry price, whereas a setting of 0 disables the first long profit target. |
LongTarget2Percent |
Specifies the current market range percent to use as a distance for placing the second long profit target from the entry price, whereas a setting of 0 disables the second long profit target. |
LongTarget3Percent |
Specifies the current market range percent to use as a distance for placing the third long profit target from the entry price, whereas a setting of 0 disables the third long profit target. |
LongTarget1MinDistance |
Specifies the minimum distance from the entry price to place the first long profit target. As long as this minimum profit threshold has not been reached by the dynamic target, the strategy uses this fixed profit target for the first long profit target. |
LongTarget2MinDistance |
Specifies the minimum distance from the entry price to place the second long profit target. As long as this minimum profit threshold has not been reached by the dynamic target, the strategy uses this fixed profit target for the second long profit target. |
LongTarget3MinDistance |
Specifies the minimum distance from the entry price to place the third long profit target. As long as this minimum profit threshold has not been reached by the dynamic target, the strategy uses this fixed profit target for the third long profit target. |
Short Targets:
ShortTarget1PercentExit |
Specifies the percent contracts/shares to exit at the first short profit target, whereas a setting of 0 disables the first short profit target. |
ShortTarget2PercentExit |
Specifies the percent contracts/shares to exit at the second short profit target, whereas a setting of 0 disables the second short profit target. |
ShortTarget3PercentExit |
Specifies the percent contracts/shares to exit at the third short profit target, whereas a setting of 0 disables the third short profit target. |
ShortTarget1Length |
Specifies the numbers of bars to look back for the current market range for calculating the first short profit target from the entry price, whereas a setting of 0 disables the first short profit target. |
ShortTarget2Length |
Specifies the numbers of bars to look back for the current market range for calculating the second short profit target from the entry price, whereas a setting of 0 disables the second short profit target. |
ShortTarget3Length |
Specifies the numbers of bars to look back for the current market range for calculating the third short profit target from the entry price, whereas a setting of 0 disables the third short profit target. |
ShortTarget1Percent |
Specifies the current market range percent to use as a distance for placing the first short profit target from the entry price, whereas a setting of 0 disables the first short profit target. |
ShortTarget2Percent |
Specifies the current market range percent to use as a distance for placing the second short profit target from the entry price, whereas a setting of 0 disables the second short profit target. |
ShortTarget3Percent |
Specifies the current market range percent to use as a distance for placing the third short profit target from the entry price, whereas a setting of 0 disables the third short profit target. |
ShortTarget1MinDistance |
Specifies the minimum distance from the entry price to place the first short profit target. As long as this minimum profit threshold has not been reached by the dynamic target, the strategy uses this fixed profit target for the first short profit target. |
ShortTarget2MinDistance |
Specifies the minimum distance from the entry price to place the second short profit target. As long as this minimum profit threshold has not been reached by the dynamic target, the strategy uses this fixed profit target for the second short profit target. |
ShortTarget3MinDistance |
Specifies the minimum distance from the entry price to place the third short profit target. As long as this minimum profit threshold has not been reached by the dynamic target, the strategy uses this fixed profit target for the third short profit target. |
All Targets:
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
MinimumLimitBreak |
Specifies the minimum number of cents, ticks or pips by which price has to break through a profit target at which time this particular profit target is canceled. |
MinMoveOrDollarPointsOrPercent |
With a setting of 1, the minimum target distance is expressed in cents, ticks or pips, with a setting of 2, the minimum target distance is expressed in dollars or points and with a setting of 3, the minimum target distance is expressed in percent. |
Commentary:
PriceDecimal |
Specifies the decimal points in which to display the prices in the Analysis Commentary. |
With LongTarget1Length set to 30 and LongTarget1Percent set to 100, the strategy calculates the first long profit target as follows:
If the highest high over the last 30 bars is 100 and the lowest low over the last 30 bars is 90, the profit target is calculated as 100 percent of the difference between this highest high and lowest low and places the target 10 points/dollars (100 minus 90 equals 10, times 100 percent) from the entry price.
The Alchemy Strategy contains a percent stop and a percent target. Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Global Inputs:
NumberEntries |
Specifies the fixed number of contracts/shares for each position in order to calculate the number of contracts/shares to exit at the various profit targets. With a setting of 0, the strategy automatically detects the number of contracts/shares as initiated on the chart. When specified a fixed number of contracts/shares for each position with this input, the strategy has the capability of placing the target limit orders together with the entry orders, otherwise, it won't be able to detect the number of entries until the entry bar. |
LongEntryType |
A setting of 0 instructs the strategy that the long entry is being generated as a "this bar close" order, a setting of 1 instructs the strategy that the long entry is being generated as a market order, a setting of 2 instructs the strategy that the long entry is being generated as a stop market order and a setting of 3 instructs the strategy that the long entry is being generated as a limit order. This function helps the strategy to accurately calculate the moving stops at the long entry bar and for "this bar close" entry orders, to correctly identify the long entry bar. |
ShortEntryType |
A setting of 0 instructs the strategy that the short entry is being generated as a "this bar close" order, a setting of 1 instructs the strategy that the short entry is being generated as a market order, a setting of 2 instructs the strategy that the short entry is being generated as a stop market order and a setting of 3 instructs the strategy that the short entry is being generated as a limit order. This function helps the strategy to accurately calculate the moving stops at the short entry bar and for "this bar close" entry orders, to correctly identify the short entry bar. |
Long Entry:
LongEntryPrice |
Specifies the price such as open, high, low or close, to be used for calculating the long exits when placing exit orders together with long entry orders. With a setting of 0, the strategy places the long exit orders at the close of the entry bar. |
LongEntryAddSubtract |
Specifies the number of cents, ticks or pips to add to or subtract from the long entry price as specified with the input LongEntryPrice for calculating the long exits when placing exit orders together with long entry orders. |
Short Entry:
ShortEntryPrice |
Specifies the price such as open, high, low or close, to be used for calculating the short exits when placing exit orders together with short entry orders. With a setting of 0, the strategy places the short exit orders at the close of the entry bar. |
ShortEntryAddSubtract |
Specifies the number of cents, ticks or pips to add to or subtract from the short entry price as specified with the input ShortEntryPrice for calculating the short exits when placing exit orders together with short entry orders. |
Stop:
StopPercent |
Specifies the percent distance to place the stop away from the entry price, whereas a setting of 0 disables the percent stop. |
StopExit |
With a setting of 1 the stops are executed as stop market orders and with a setting of 0 the stops are executed as market orders at the close of the bar that hits the stop price. |
Target:
TargetPercent |
Specifies the percent distance to place the target from the entry price, whereas a setting of 0 disables the percent target. |
LimitTargets |
A setting of 1 places limit orders for the profit targets and a setting of 0 places market orders to exit when the profit targets are reached. |
The Alchemy Stop-Target Exit Strategy contains a 2 separate protective stops, a breakeven stop and 4 targets. Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entry Parameters:
NumberEntries |
Specifies the fixed number of contracts/shares for each position in order to calculate the number of contracts/shares to exit at the various profit targets. With a setting of 0, the strategy automatically detects the number of contracts/shares as initiated on the chart. When specified a fixed number of contracts/shares for each position with this input, the strategy has the capability of placing the target limit orders together with the entry orders, otherwise, it won't be able to detect the number of entries until the entry bar. |
LongEntry_Price |
Specifies the price to be used for calculating the long exits when placing exit orders together with long entry orders. |
ShortEntry_Price |
Specifies the price to be used for calculating the short exits when placing exit orders together with short entry orders. |
Stop_PlaceWithEntry |
A setting of 1 places the stop order together with the entry order based on the LongEntry_Price/ShortEntry_Price at the close of the signal bar and then recalculates the stop again at the close of the entry bar based on the entry price. With a setting of 0, the strategy places the stop order at the close of the entry bar. |
Pivot Protective Stop:
Stop_HighLowLength |
Specifies the number of bars to look back from the entry bar for finding the lowest low to place the protective long stop and for finding the highest high to place the protective short stop. A setting of 0, disables this stop. When both, the pivot and range stop are enabled, the closest stop will take effect. |
Stop_Add |
Specifies the point/dollar distance to subtract from the above long stop or to add to the above short stop. |
Range Protective Stop:
Stop_Length |
Specifies the number of bars to look back from the entry bar for finding the highest range bar which will be used as a benchmark for determining a 100 percent distance for calculating this protective stop. A setting of 0 disables this stop. When both, the pivot and range stop are enabled, the closest stop will take effect. |
Stop_Percent |
Specifies the percent distance of the highest range bar over Stop_Length number of bars for calculating the stop distance. A setting of 0 disables this stop. When both, the pivot and range stop are enabled, the closest stop will take effect. |
Breakeven Stop:
BreakEven_Length |
Specifies the number of bars to look back from the entry bar for finding the highest range bar which will be used as a benchmark for determining a 100 percent distance for using as a minimum profit distance to be reached, at which time the stop will be moved to breakeven. A setting of 0 disables the breakeven stop. |
BreakEven_Percent |
Specifies the percent distance of the highest range bar over BreakEven_Length number of bars for calculating the minimum profit distance to be reached, at which time the stop will be moved to breakeven. A setting of 0 disables the breakeven stop. |
BreakEven_Add |
Specifies the point/dollar distance to add to the entry price in favor of the currently held position for placing the breakeven stop. |
Profit Targets:
Target_PlaceWithEntry |
A setting of 1 places the profit target orders together with the entry order based on the LongEntry_Price/ShortEntry_Price at the close of the signal bar and then recalculates the profit targets again at the close of the entry bar based on the entry price. With a setting of 0, the strategy places the profit target orders at the close of the entry bar. |
Target_Limit |
A setting of 1 uses limit orders for the profit targets and a setting of 0 places a market order at the close of the bar that reaches the profit target. |
Target_Length |
Specifies the number of bars to look back from the entry bar for finding the highest range bar which will be used as a benchmark for determining a 100 percent distance for calculating the profit targets. A setting of 0 disables all profit targets. |
Target_Percent |
Specifies the percent distance of the highest range bar over Target_Length number of bars for calculating the profit target distance. A setting of 0 disables all profit targets. |
Target_PercentExit1 |
Specifies the percent contracts/shares to exit at the first profit target. A setting of 0 disables the first profit target. |
Target_PercentExit2 |
Specifies the percent contracts/shares to exit at the second profit target. A setting of 0 disables the second profit target. |
Target_PercentExit3 |
Specifies the percent contracts/shares to exit at the third profit target. A setting of 0 disables the third profit target. |
Target_PercentExit4 |
Specifies the percent contracts/shares to exit at the fourth profit target. A setting of 0 disables the fourth profit target. |
Target_Multiplier1 |
Specifies the amount that the target distance as calculated by Target_Length and Target_Percent will be multiplied by for calculating the first profit target. For example, with Target_Length set to 10, Target_Percent set to 50 and Target_Multiplier1 set to 1, and the highest range bar over the last 10 bars being 1 point, then the first target would be 0.5 point (1 point times 50% times 1). A setting of 0 disables the first profit target. |
Target_Multiplier2 |
Specifies the amount that the target distance as calculated by Target_Length and Target_Percent will be multiplied by for calculating the second profit target. For example, with Target_Length set to 10, Target_Percent set to 50 and Target_Multiplier2 set to 2, and the highest range bar over the last 10 bars being 1 point, then the first target would be 1 point (1 point times 50% times 2). A setting of 0 disables the second profit target. |
Target_Multiplier3 |
Specifies the amount that the target distance as calculated by Target_Length and Target_Percent will be multiplied by for calculating the third profit target. For example, with Target_Length set to 10, Target_Percent set to 50 and Target_Multiplier3 set to 3, and the highest range bar over the last 10 bars being 1 point, then the first target would be 1.5 points (1 point times 50% times 3). A setting of 0 disables the third profit target. |
Target_Multiplier4 |
Specifies the amount that the target distance as calculated by Target_Length and Target_Percent will be multiplied by for calculating the fourth profit target. For example, with Target_Length set to 10, Target_Percent set to 50 and Target_Multiplier4 set to 4, and the highest range bar over the last 10 bars being 1 point, then the first target would be 2 points (1 point times 50% times 4). A setting of 0 disables the fourth profit target. |
The Alchemy Distance Trailing Stop Exit Strategy trails open positions by a specified distance. Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entry Parameters:
NumberEntries |
Specifies the fixed number of contracts/shares for each position in order to calculate the number of contracts/shares to exit at the stop. With a setting of 0, the strategy automatically detects the number of contracts/shares as initiated on the chart. This input is required if the strategy is specified to place a partial stop order at the time of entry. |
LongEntryPrice |
Specifies the price to be used for
calculating the long stop when placing the stop order together with the
long entry orders, whereas a setting of 0 disables the feature of
placing the long stop together with the entry order.
|
ShortEntryPrice |
Specifies the price to be used for
calculating the short stop when placing the stop order together with the
short entry orders, whereas a setting of 0 disables the feature of
placing the short stop together with the entry order.
|
EntryOnClose |
With a setting of 1 the strategy is
instructed that the entry is generated at the close of the bar and with
a setting of 0 the strategy is instructed that the entry is generated at
the open of the bar or as a limit order or as a stop order. This
feature is designed for correctly identifying the entry bar.
|
Trailing Stop Parameters:
PercentExit |
Specifies the percent contracts/shares to exit at the trailing stop. |
UseStop |
A setting of 1 uses a stop order and a
setting of 0 places a market order at the close of the bar that touches
the trailing stop.
|
MinimumProfitDistance |
Specifies the minimum profit
distance in points or dollars to be reached at which time the
trailing stop is initiated.
|
MinimumProfitMove |
Specifies the minimum profit
distance in cents, ticks or pips to be reached at which time the
trailing stop is initiated. In order to use this input,
MinimumProfitDistance needs to be set to 0.
|
MinimumProfitDollars |
Specifies the minimum dollar
profit to be reached at which time the trailing stop is
initiated. In order to use this input, MinimumProfitDistance
and MinimumProfitMove needs to be set to 0.
|
PositionBasis |
A setting of 1 uses the
MinimumProfitDollars inputs on a position basis and a setting of
0 uses the MinimumProfitDollars inputs on a per contract/share
basis.
|
MinimumProfitPercent |
Specifies the minimum
profit percent to be reached at which time the trailing stop is
initiated. This input can be used in conjunction with the
fixed minimum profit inputs above and the strategy will
automatically use the smaller profit threshold between the two.
|
|
Please note that in order to
initiate the trailing stop at the time of the entry, the inputs
MinimumProfitDistance, MinimumProfitMove, MinimumProfitDollars
and MinimumProfitPercent have to be set to 0.
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TrailingDistance |
Specifies the trailing distance in points
or dollars.
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TrailingMove |
Specifies the trailing distance in
cents, ticks or pips. In order to use this input,
TrailingDistance needs to be set to 0.
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TrailingPercent |
Specifies the trailing distance
expressed in percent of the entry price. This input can be used
in conjunction with the fixed trailing distances above and the
strategy will automatically use the closer trailing distance
between the two.
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Trend Line Parameters:
TL_Color_LongStop |
Specifies the color for the trailing long
stop lines, whereas a setting of 0 disables the trailing long stop
lines.
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TL_Color_ShortStop |
Specifies the color for the trailing short stop lines, whereas a setting of 0 disables the trailing short stop lines. |
TL_Size |
Specifies the size for the trailing stop lines. |
TL_Style |
Specifies the style for the trailing stop lines. |
The Alchemy End of Day Exit Strategy contains the feature of being able to exit at a specified time before the close of a bar in real time. This feature is useful when all open positions should be exited right before the market closes as otherwise, by waiting for the actual bar to close, all market orders to exit may be rejected. Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
SessionStartTme |
Specifies the session start time. A negative setting uses the calendar date for the beginning of a new session. The format is in military charting time without the colon, e.g. 1:00pm would be entered as 1300. |
EndOfDayExitTme |
Specifies the latest time of the day as to
when to close out all open positions, whereas a negative setting
disables the end of day exit. The format is in military charting time
without the colon, e.g. 1:00pm would be entered as 1300.
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UseCurrentTime |
When set to true, the strategy exits at
the specified exit time before the close of the bar in real time. When
set to false, the strategy exits at the close of the bar that falls
within the specified exit time. Historical trades are always displayed
at the close of the bar that falls within the specified exit time.
Please note that in order to take advantage of this feature, intra-bar
order generation needs to be enabled, otherwise, the strategy will have
to wait for the close of the bar to generate the exit signal.
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ExitOnClose |
When set to true, the exit order is
generated at the close of the bar and when set to false, the exit order
is generated as a market order to be displayed at the open of the next
bar. However, when utilizing the feature of exiting before the close of
the bar with intra-bar order generation and UseCurrentTime enabled, this
input needs to be set to false, otherwise, the strategy will wait for a
true close of the bar before exiting.
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The Alchemy Manual Exit Strategy exits all open positions at a specified date and time or at the current bar if the exit date and time is not specified. This allows for quick order execution while keeping all active strategies in sync with real time orders. After exiting all positions, the strategy allows for new future entry signals that may be generated by other strategies applied to the chart. For an explanation on how to use this strategy, please review the following definition of inputs.
User Defined Inputs:
ExitBarDate_YYMMDD |
Pass in the date of the bar to exit all positions. A value of 0 uses the current date as exit date. |
ExitBarTime_HHMM |
For intraday charts, pass in the time of the bar in 24 hr format to exit all positions. For example, for an exit time of 1:00pm the value for this input would be 1300. For daily, weekly and monthly charts, the time is ignored. . A value of 0 uses the current time as exit time. |
The Alchemy Trendline strategy trades in between a trendline channel that is drawn on a chart by going short at the upper trendline and by going long at the lower trendline. Please note that 2 trendlines are required in order for this strategy to function. If a chart contains more than 2 trendlines, the first 2 trendlines that were drawn in sequence are used for the trendline channel. For more details, please see the strategy inputs description below:
Strategy Inputs:
NumberEntries |
Specifies the number of shares/contracts to enter a trade. |
LongPrice |
Specifies the price that needs to touch the lower trendline for generating a long entry, such as low or close. |
ShortPrice |
Specifies the price that needs to touch the upper trendline for generating a short entry, such as high or close. |
UseLimit |
A setting of 1 uses limit entry orders and a setting of 0 uses market orders to be filled at the open of the next bar. |
LimitDistance |
Specifies the cent, tick or pip distance below the upper trendline to enter short or above the lower trendline to enter long. A negative setting enters outside the upper and lower trendlines. |
TL_Type |
Specifies the trendline type, whereas TL_Type1 recognizes all trendlines that are created by the current analysis technique/strategy, TL_Type2 recognizes all trendlines that are created by an analysis technique/strategy other than the current or manually drawn, TL_Type3 recognizes all trendlines that are created by other means, TL_Type4 recognizes all trendlines that are created by the current analysis technique/strategy or manually drawn, TL_Type5 recognizes all trendlines that are created by an analysis technique/strategy other than the current, TL_Type6 recognizes all trendlines that are created by any analysis technique/strategy and TL_Type7 recognizes all trendlines that are manually drawn. However, please note that all trendlines have to be manually drawn first and then the strategy needs to be forced to re-calculate by disabling and then re-enabling it so that any new trendlines can be recognized. Therefore, any trendline that is drawn by an analysis technique or strategy in real time won't be recognized and if the location of a trendline is changed or a new trendline is added to the charts, again, the strategy needs to be forced to re-calculate by disabling and then re-enabling it in order for the new trendline postions to be recognized. Also, please note that this strategy only works with trendlines that are drawn from the drawing tool bar and the horizontal line of the drawing tool bar can not be used. Therefore, even horizontal lines, have to be drawn with the trend line tool of the drawing tool bar. |
The Alchemy Trendline strategy trades breakouts of trendlines that are drawn on a chart. When in a long trade, it has an option of reversing short at the next higher trendline and when in a short trade, it has an option of reversing long at the next lower trendline. For more details, please see the strategy inputs description below:
Strategy Inputs:
NumberEntries |
Specifies the number of shares/contracts to enter a trade. |
LongPrice |
Specifies the price that needs to break through the trendline for generating long entries, such as high or close, whereas a setting of 0 disables long entries. |
ShortPrice |
Specifies the price that needs to break through the trendline for generating short entries, such as low or close, whereas a setting of 0 disables short entries. |
NumberBars |
Specifies the minimum number of consecutive bars that need to have broken through the trendline in order to generate a trade. |
ReverseEntry |
With a setting of 0, the strategy goes long above a trendline breakout and short below a trendline breakdown. With a setting of 1, the strategy goes short above a trendline breakout and long below a trendline breakdown. |
UseLimit |
A setting of 1 uses limit entry orders and a setting of 0 uses market orders to be filled at the open of the next bar. |
LimitDistance |
Specifies the point/dollar distance from the trendline, to place a limit entry order once the trend line is broken. This feature avoids entering at a price too far away from a trendline once it has been broken. For example, with a setting of 5, the strategy places a limit entry order to go long, 5 points above the trendline, once it has broken through it. |
ExitAndReverse |
When set to 1, it enables the exit and reverse feature, where, when in a long trade, it reverses short at the next higher trendline and when in a short trade, it reverses long at the next lower trendline. |
TL_Type |
Specifies the trendline type, whereas TL_Type1 recognizes all trendlines that are created by the current analysis technique/strategy, TL_Type2 recognizes all trendlines that are created by an analysis technique/strategy other than the current or manually drawn, TL_Type3 recognizes all trendlines that are created by other means, TL_Type4 recognizes all trendlines that are created by the current analysis technique/strategy or manually drawn, TL_Type5 recognizes all trendlines that are created by an analysis technique/strategy other than the current, TL_Type6 recognizes all trendlines that are created by any analysis technique/strategy and TL_Type7 recognizes all trendlines that are manually drawn. However, please note that all trendlines have to be manually drawn first and then the strategy needs to be forced to re-calculate by disabling and then re-enabling it so that any new trendlines can be recognized. Therefore, any trendline that is drawn by an analysis technique or strategy in real time won't be recognized and if the location of a trendline is changed or a new trendline is added to the charts, again, the strategy needs to be forced to re-calculate by disabling and then re-enabling it in order for the new trendline postions to be recognized. Also, please note that this strategy only works with trendlines that are drawn from the drawing tool bar and the horizontal line of the drawing tool bar can not be used. Therefore, even horizontal lines, have to be drawn with the trend line tool of the drawing tool bar. |
The Alchemy W-M strategy enters long when the Alchemy W-M indicator displays a W bottom formation and it enters short when the Alchemy W-M indicator displays a M top formation on either price or on a specified oscillator. For an explanation on the various pattern points, here is a picture of a W pattern example:
Strategy Inputs:
Entry Parameters: | |
InitEntries |
Specifies the number of shares/contracts to enter when the strategy is flat. |
AddOn |
Specifies the number of shares/contracts to add on to an existing position. |
Reverse |
Specifies the number of shares/contracts to enter into the opposite direction of a currently held position. |
Pattern Parameters: | |
M_Price |
Specifies the price to be used for plotting and displaying the M patterns. |
W_Price |
Specifies the price to be used for plotting and displaying the W patterns. |
MinimumPatternDistance |
Specifies the minimum point distance for point 1 to be above point 3 for a W pattern and the minimum point distance for point 1 to be below point 3 for a M pattern. |
MaximumAngleDistance |
Specifies the maximum point distance between point 2 and point 4, whereas a negative setting disables this requirement. |
MinimumPivotDistance1to2/2to3/3to4/4to5 |
Specifies the minimum point distance between each corresponding point. |
MinimumPivotBars1to2/2to3/3to4 |
Specifies the minimum number of required bars in between each corresponding point. |
MaximumPivotBars1to2/2to3/3to4 |
Specifies the maximum number of allowed bars in between each corresponding point, whereas a setting of 0 disables this requirement |
The Alchemy Stochastic Entry Strategy enters long when the Stochastic crosses over the oversold threshold and vice versa, it enters short when the Stochastic crosses under the overbought threshold
Please read the strategy inputs below for a detailed explanation.
Strategy Inputs:
Entries:
NumberInitialEntries |
Specifies the number of shares/contracts to enter at the initial entry |
NumberAddOnEntries |
Specifies the number of shares/contracts to add-on to the existing position when there is a new cross into the same direction as the currently held position. |
Reverse |
With a setting of 1, the strategy reverses positions when there is an opposite cross signal. A setting of 0 disables this feature. |
Stochastic:
PriceH |
Specifies the high price to be used for the Stochastic calculation. |
PriceL |
Specifies the low price to be used for the Stochastic calculation. |
PriceC |
Specifies the closing price to be used for the Stochastic calculation. |
StochLength |
Specifies the look back length to be used for the Stochastic. |
SmoothingLength1 |
Specifies the first smoothing length of the Stochastic. |
SmoothingLength2 |
Specifies the second smoothing length of the Stochastic. |
SmoothingType |
Specifies the smoothing type of the Stochastic. |
FastK1_SlowK2_FastD3_SlowD4 |
With a setting of 1, the FastK is used, with a setting of 2, the SlowK is used, with a setting of 3, the FastD is used and with a setting of 4, the SlowD is used. |
In a strong up move, it is common to see a series of consecutive up closing candles and in a strong down move, it is common to see a series of consecutive down closing candles. The Alchemy Candle Trend Strategy takes advantage of this, by entering long on the close of very first up closing candle and by entering short on the close of the very first down closing candle. This method works especially well on certain bar types such as Renko charts. This strategy also contains a fixed stop loss and a fixed profit target.
Strategy Inputs:
StopLossDistance |
Specifies the stop loss distance from the entry price, whereas a setting of 0 disables this exit. |
ProfitTargetDistance |
Specifies the profit target distance from the entry price, whereas a setting of 0 disables this exit. |
PointDollarsOrMinMove |
With a setting of 1, both, the StopLossDistance and the ProfitTargetDistance are expressed in points per contract or dollars per share and with a setting of 2, both, the StopLossDistance and the ProfitTargetDistance are expressed in cents, ticks or pips. |
The Alchemy Volatility Entry-Exit Strategy follows our Alchemy Automatic Volatile Stop Indicator.
The entry module places a stop market order at the Volatile Stop line of this indicator to go long in a down trend, therefore entering a long position at this Volatile Stop line, as soon as the trend turns bullish and to go short in an up trend, therefore entering a short position at this Volatile Stop line, as soon as the trend turns bearish.
The exit module places a stop market order at the Volatile Stop line of this indicator to exit long positions in an up trend and to exit short positions in a down trend.
Indicator Inputs:
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Entry parameters: |
InitEntries |
Specifies the number of contracts or shares to enter at the initial entry. A value of 0 disables initial entries. |
AddOn |
Specifies the additional number of contracts or shares to enter when the strategy is already in a long position. A value of 0 disables add-on entries. |
Reverse |
A positive value such as 1, allows the strategy to reverse positions and a value of 0 restricts the strategy from reversing positions. |
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Exit parameters: |
NumExit |
Specifies the number of contracts or shares to exit at the Volatile Stop line. A value of 0 exits all open positions at the Volatile Stop line and a negative value such as -1, disables this exit. |
StopAdd |
Specifies the number of cents, ticks or pips distance to place the exit stop price from the Volatile Stop line, whereas a positive value specifies the distance further away and a negative value specifies the distance closer. |
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Volatility parameters: |
VolatilePrice |
Specifies the price to be used for the volatility calculation such as truerange or range. |
VolatileLength |
Specifies the look back length for the volatility calculation. |
VolatileFact |
Specifies the volatility range multiplier |
UseCloseStop |
Specifies whether the Volatile Stop line needs to be taken out by the close of a bar or by the high of a bar in a down trend and by the low of a bar in an up trend in order to change trend. A positive value such as 1, uses the close of a bar and a value of 0, uses the high/low of a bar. |
For function definitions, click on this link
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