So - And I'll admit I'm new to this stuff - I have a bunch of indicators I'd like to use in my strategy, but I'd like the computer to do the analyzing. Is there software that will let me set the parameters and then will notify me via some type of alarm to adjust my positions according to the indicators? Like I want to input the charts, but instead of reading them myself, I want the computer to just look at them for me and tell me the situation based on the parameters I set. Thanks, Zak I'm sorry if there is a simple answer to this question, but I assure you it's not simple, you guys are just well informed.
Yes, if your chosen platform allows it, you could have an indicator developed so that when a single indicator or combination of indicators is equal to a value or falls within a range of values an audio and/or visual alert is given.
fantastic!!! I trade using questrades free platform, so the data has a delay. is there standalone software for this? any recommendations?
how serious are you about your strategies? do you see it as worthwhile to invest in an automated system for them?
zmft, I would recommend looking into NinjaTrader. Plenty of developer support. The software is free until you begin trading live using NinjaTrader to submit orders. So for example, you could download and setup NinjaTrader, have it connect to Kinetick as a data feed then submit orders manually using another software package/broker. At least until you can graduate to submitting orders to a broker via NinjaTrader. Regardless you could probably do something similar with TradeStation or MultiCharts or any other program that you can develop indicators for.
Hey guys, thanks for the help! I've tried all of the software, but I'm having one hell of a time programming my strategies into it. If you don't mind me bumping the thread, I'll be more specific. (But truth be told, I don't want to give away all of my strategy because it might suck so I'll keep things simple and very general). Does anyone know how I could set up either multicharts or ninja trader to look at everything in the S&P 500 (hypothetically). Then I need it to run some technical analysis, we'll say for simplicity sake, the RSI. I then need the software to tell me "Buy" or "Sell" when the respective timing is appropriate (I can set those parameters). I then have a few other things I'll throw into the mix, but that would be a great example for me to learn from. Thanks, Zak
Well you could use either an index or the ES which is the S&P futures. Then use / add the RSI which is an indicator in Ninja Trader. Then set it to where you want it to give you an audio alert. I also use the Price alert in Ninja Trader to alert me to when a price level is reached. The RSI and Price alert are both built in free indicators. However, I don't use the RSI to trade myself since it's normally a lagging indicator except for a few cases.
I believe you could do this with NinjaTraders Market Analyzer. Or at least develop your own indicator that uses RSI which then tells Market Analyzer to give your buy/sell signal. I haven't used Market Analyzer yet, but its purpose is similar to what you're asking for. See the Market Analyzer section and screenshot on their tour page. One potential issue with your request is you would need a data feed which could supply you with the number of instruments you require at one time. Most data feeds only provide increments of 100 instruments at one time. So you would have to pay your data feed extra and/or have your Market Analyzer tool cycle through unwanted instruments.
Not sure if you are trading stocks or forex? Second Signal - Direction Labs offers SMS signals when ever a open and close position hits. This is a Forex software .