How does the Indicators selection work?
Technical indicators are mathematical calculations based on the price or volume of a security or contract. By analyzing historical data, technical analysts use indicators to predict future price movements of the securities/contracts. Examples of common technical indicators include Relative Strength Index, Stochastics, MACD and Bollinger Bands.
Users can select technical indicators by keying in or selecting the indicators using dropdown buttons to create conditions on various different indicators.
First, start off by searching for an indicator by clicking on the drop down button.
Once a user selects an indicator, the ‘select indicators’ dialog box shows up as below with some sections:
Select Indicator Dialog Box: Each condition in a trading strategy has 3 parts:
a. Indicator 1 – Selection of Technical indicator and its parameters such as RSI, MOM, Supertrend etc.
b. Comparator - A logical comparator such as higher than, lower than, cross above, cross below etc.
c. Compare Indicator2 - Something to compare Indicator 1 with, a value such as number, OHLCV etc. or other indicator
Parameters
On the selection of an indicator, the user will be shown a bunch of parameters filled with appropriate default values which the user can edit. Each indicator has some required parameters and some optional parameters. All parameters have some default value.
Users can put in whatever values they seem appropriate for the indicator to calculate the results.
Comparator
At times an indicator can have multiple outputs. The user selects the required output and adds a condition to check if the output value is higher/lower than the number mentioned.
Sample strategy conditions example:
Below are a few examples of how a Select indicator condition can be set up
Condition 1:
Trigger an event when the ‘signal’ output of the MACD (12, 30, 9) is to be greater than 5.
Condition 2:
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