I agree with Spyder that squ/str is best viewed as a histogram. See if you can set your chart that way. Also, due to the spread changing so quickly, it would be difficult for us to compare squ/str charts at the end of the day. The value can change significantly from one second to the next, so depending on datafeed lag and other factors, the value that each of us shows at the end of each 1min bar could appear very different.
Thank you. I've been trying hard to make sure they are correct in my view of the market. Most of the time they are not exactly like Spyders', but that doesn't matter as long as I am on the right side of the market. I do review all the charts posted, it really helps critic my own work. I did notice my 3:15pm bar is off due to Qcharts going down on the Miami servers for about 20 min. The Santa Clara farm seems to be more accurate, but I'm in So. Florida so the ping is less to Miami. -Mike
If anyone is still interested in a(nother) Str/Sqz Tradestation indicator you can PM me for the ELD file or I can post a text version here with instructions. Also Spyder, this should be based on the close of the 1 min. bar? Thanks
Here's a YM snippet around the time of a sim-trade entry (short) by me this morning. My timestamp is prolly off +/- a few seconds due to the fact that my data is timestamped locally (as opposed to the feed's server). Also, I was glued to the ES when this occured and only really noticed this snippet during replay, post-market close. In other words, the ES got me in. But I thought I'd share this replay snippet. My replay is only accurate to the second (not milliseconds). So, the replay could be a bit off from RT, I dunno. Enough caveats... The bottom pane shows my RT YM Premium calculation, using 2 min bars. I know, the instructions are to use 1 min bars but I like my layout of price + volume + premium wth vertical alignment. So, I may have to change this at some point. The green dash in each bar shows where the Premium closes. I have no idea if this is useful info (knowing prem bar close) at this point. Currently, I do not bother myself with Fair Value (the "offset"). If I type one in, the pane is very similar to a histogram. But I've noticed that "my brain" does a decent job of determining what is Neutral. Time will tell if I need to bother with Fair Value or not. One last Premium detail, the thin blue horizontal line displays at the current Premium (STR), Discount (SQU), or Neutral at all times (assuming I can "see it", lol). As shown in this snippet, what does your brain tell you? SQU, right? No Fair Value/offset needed. I'm NOT saying to do something different than what has been instructed, I'm just showing my layout. Just food for thought and discussion. The other higher-level thing to look at in this snippet is my PRV blue "ghost bar". This might be a good example of capturing increasing red, based on PRV, very early in a bar. My PRV is loosely physics-based, so I believe my PRV upon bar open is reasonable. I factor in the pace coming in to new bars and never reset PRV volume to zero. But this is a bit OT. spooz
As I've had a few requests here is the code in a text format. You should be able to copy it directly into t-station as a new indicator. input: offset (0); var: Spread (0), STRSQZ (0); Spread = Close data1 - Close data2; STRSQZ = Spread - offset; Plot1 (STRSQZ, "STRSQZ"); If Plot1 > 2 then setplotcolor (1, yellow); If Plot1 < -2 then setplotcolor (1, cyan); plot2 (0) ; plot3 (2); plot4 (-2); setplotcolor (2, darkblue); setplotcolor (3, white); setplotcolor (4, white); You will need to set up a chart with @YM as data 1 and $INDU as data 2. You can then make the price invisible if you like so that all you have left is the indicator. (symbol format, style tab, check box"make price data invisible") Go to format indicator and put the offset amount into (input tab, value) then go to style tab and set STRSQZ to histogram and plot 2 thru 4 to line. then set the colors to your liking and under the scale tab put the indicator in subgraph 2. Then shrink subgraph 1 down to nothing in the chart window. That should do it. -jc
Jander, Have you got the tool working now? I'm not sure what to enter where with this one; could you (or someone) also post the link to the relevant discussion? Playing around with it has also caused the original STR.SQU to stop working - Excel is a very mysterious app sometimes... Thanks, palinuro
For esignal users, here is an efs that will plot str/squ in histogram format. After loading the efs, right click on the study pane entitled "... Add symbol", select edit studies, in the Value box for Symbol1 type: ym #f - $INDU - 68 The value 68 is just an example offset and should be adjusted accordingly. Be careful with the spaces. The histogram plots the close of each interval e.g. 1 min. The histogram time interval will depend upon the interval of the chart, so you will need to open up an advanced chart with a 1 min interval. Now I just need to be able to make some sense of it
Thanks dkm. I am not to familiar with programming esignal software. What does efs stand for (electronic file system?) and how does one load an efs into esignal (not the same as creating an advance chart I imagine). =) P.S. I would PM you but I feel others might need this info also.
Esignal Formula Script 1. Download the attachment and save as SymbolCompareAsHistogram.efs in the folder Program Files>Esignal>Formulas>Downloads (n.b. this will involve changing the file extension from .txt to .efs 2. Open up a new 1 min chart of say ym #f 3. Right click on the chart and select Formulas>Downloads>SymbolCompareAsHistogram.efs 4. The EFS should load as a new indicator pane below the chart 5. Follow the previous instructions for entering the symbol formula ym #f - $INDU - offest You should now see the histogram