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| Added: June 02, 2008 |
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TradeStation, indicator
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This month's focus in Traders' Tips is my gap-trading system presented in "Trading The Opening Gap" in this issue. Here is an Omega Research EasyLanguage script for the gap-trading system. For practical reasons, this system cannot be described as an EasyLanguage system, so it must be programmed as an indicator. The value of this indicator is the cumulated profit of trading the system every day within the period considered.
In addition, day-to-day profitability can be explored with a ShowMe study. A red dot indicates a loss, a blue dot a profit. A dot at the high of the day indicates a gap up (that is, a short position), a dot at the low of the day is a gap down (that is, a long position).
Code:
Type : Indicator, Name: Gap-Trading System
inputs:
gap_up(1),
gap_down(1);
variables: gap(0);
gap = 100*(open - close[1])/close[1];
if gap >= gap_up
then begin
if close <= open
then Plot1(high, "UpGap", blue)
else Plot1(high, "UpGap", red);
end;
if gap <= -gap_down then begin
if close >= open
then Plot2(low, "DnGap", blue)
else Plot2(low, "DnGap", red);
end;
Code to difficult? Find somebody to help you with coding here.
Author: Stéphane Reverre
Source: http://www.traders.com
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