(for Tradestation users) "opening data" driving me nuts.. advice please.

Discussion in 'Data Sets and Feeds' started by mdl060374, Jun 25, 2008.

  1. Ok, here is what I am doing. I am working with a EZ language programmer to develop studies based off stock behavior vs its opening price.

    I am studying statistics on behavior, and looking at bars on 5 min intervals once statistics are found to develop a strategy.

    Here is the problem...

    Upon looking at these "oh wow!" charts with beautiful run ups/rund downs at the open i check T&S to see 249 shares going off at an erroneous price at the open .75 away from where the stock is "really trading actively."

    Hence, the chart isnt accurate nor is the data.

    So basically, my statsistics are skewed, and the info is untradable when this happens.

    Does anyone have any advice to filter out these prints or somehow avoid them or perhaps use an "average" price range of the open? or even REDUCE thier impact in my calculations?

    I am looking for any ideas to help me get a better idea of where the price is actually tradable at the open, b/c I want to make an automated system buying off of certain % limits off the open, but when these prints are being used, it makes it next to impossible.

    Anyone have any exprience with this stuff?
  2. I don't use price anymore. I white out the ask and follow the bid only. This is not applicable to daily charts.

    I think this application is far better than price all day long and particularly at the open.
  3. Interesting, and thanks for the reply. So I am assuming EZ language can be coded to monitor bid level price (instead of "actual" price.)

    If so that might just do the trick..

    However, from my understanding, EZ language works off bar data (price?) so i am assuming there is a way to change that to bid data?

    How would I incoporate bid data into the studies?

    I dont need a lengthy explanation, just a basic idea what to tell my programmer to get him on the right path..
  4. I'm not a programmer. if you go to medved quote tracker and set it up like I told you then you will have 50% of a great strategy imho.
  5. ok thanks.