Frequently Asked Questions
A "System" consists of an entry method and an exit method. There are specific rules that must be followed to Enter a trade (backtesting or auto-trading), and specific rules for exiting that trade.
An Entry Setup is a set of rules that must be met by the current market situation in order to trigger the System to enter into a trade.
Exit Setups are optional. Users may want to exit when the market has certain conditions align, such as Close is less than the Low of 1 bar ago, exit on the next bar's Open.
You may want to exit when EITHER the Close is less than the low of 1 bar ago, or when the Close is greater than the High of 1 bar ago. Having multiple Exit Setups will enable you to exit after a variety of conditions occur rather than one specific one.
All conditions that are in this section must be true. If one of the conditions is not true, the Setup is invalid.
At least one condition in this section must be true. All conditions in the "All must be true" (if there are any) must be true, and at least one condition in the "One or more must be true" section must be true. If this is the case, the Setup is valid. Example "All must be true- Close is greater than High of 1 bar ago" "One or more must be true- Day is Monday, Day is Tuesday". This requires that the
"New Bar" adds another bar to a setup. For example, a user may want the previous bar to have "Close is greater than High of 1 bar ago" and the current bar to have "Close is less than Low of 1 bar ago", representing high volatility. However, the bars do not have to be next to each other. For example, the user may want the same setup as above, but have the current bar with "Close is less than Low of
This creates a "Variable" and makes systems MUCH more flexible. This can only be used on Setups that have more than 1 bar in them. If you have a "Variable" in a System, you can access the Setup Condition category "Variable" in the Conditions box. An example of this would be….Bar 1 "Close is greater than High of 1 bar ago", "Variable1 equals High". Now Bar 2 require "High is less than Variable 1" w
Right-click the desired condition and select "Delete" or simply click the condition and push the "Delete" key on your keyboard.
Right-click the desired condition and select "Properties" or simply double-click the condition.
Some systems may have valid trades occur WITHIN an existing trade. For example, a setup may occur, a trade may enter, and be waiting for a stop/target to be met. Before that exit happens, a new valid setup may occur. If "Concurrent Trades" is set to 1, this new Setup occurrence will NOT open a new trade. If "Concurrent Trades" is set to 2, it would allow the new trade to open. This way you can con
Conditions are the rules that a system looks for to enter/exit a trade.
Setup Conditions go in the "Entry Setup" and "Exit Setup" portion of the system in the "All must be true" or "One or more must be true" section. These are rules that exist within the market and must be met before any position is entered/exited.
Once a valid Entry Setup occurs, the program will look for the entry method. This could be a specific time, such as the Next Bar Open, or a stop/limit.
If a trade is entered, the program will look here for the exit method. This could be a specific time, such as the Next Bar Open, or a stop/limit.
These can only be used when a Variable has already been added (click the +V button above the system to add a variable to a multi-bar setup). If a Variable exists in the system, users can use these conditions to reference that variable for much more powerful backtesting flexibility.
Assume you have a SPY chart open and add an indicator. Now in the Conditions window, you see "Compare SPY to SPY" with both instances of SPY being dropdowns. If you click either dropdown, you will see that the indicator can be selected. Using these dropdowns, you can compare the market to itself, an indicator to the market, an indicator to itself, and an indicator to another indicator. You can als
Yes, if you have added a sub-chart to the main chart, the sub-chart will appear in the "Compare SPY to SPY" dropdowns. If I have opened SPY as my main chart and BAC as my sub-chart, I can set the dropdowns to "Compare SPY to BAC" for spread conditions.