Looking for something, help appreciated!

N

Newmoney24

I'm a technical analysis trader and routinely draw trend lines, what I'm looking for is a software/program that can automatically go through the future indexes and automatically find trades that are ripe by drawing trendlines that are 10 hours+ long and have just bounced off it (thus giving a good entry point)
-at this point I'd either like to be notified via text/email -- or even have it execute automatically



I know some software similar to this exists like "trendline trader" but I'm looking for something without a monthly service cost ideally and that people here have had good results with/heard good things about


Thanks in advance!
 
w/ trendlines it takes some (ok maybe a lot) of work to get what's in your head (e.g. i know a trendline when i see it) into writeable code. below are some hints which should work for any program:

you mentioned period of 10 hours - this is easy just use hourly charts and specify length as 10 bars

you mentioned touched trendline - say price equal trendline price (see below for this)

now here is obviously the hard part - how to define a trendline. for uptrends you could use a slope so you could look for all charts with an upward slope (least squares) of at least 0.30 for the past 3 months. i'm not really sure how you'd get a computer to recognize connecting the higher lows (i'll think about it and post later). you could say something like "the lowest low of the previous swing low is above the lowest low of the swing low preceding that".

i know this might sound disjointed - just throwing some thoughts out there.
 
Quote from Newmoney24:

I'm a technical analysis trader and routinely draw trend lines, what I'm looking for is a software/program that can automatically go through the future indexes and automatically find trades that are ripe by drawing trendlines that are 10 hours+ long and have just bounced off it (thus giving a good entry point)
-at this point I'd either like to be notified via text/email -- or even have it execute automatically

I know some software similar to this exists like "trendline trader" but I'm looking for something without a monthly service cost ideally and that people here have had good results with/heard good things about.
More...


so you want something with all the whistles and bells.

complete with turn down service and a chocolate on your pillow, all for free.

free schwag.

get a grip.

:D
 
Quote from Newmoney24:

I'm a technical analysis trader and routinely draw trend lines, what I'm looking for is a software/program that can automatically go through the future indexes and automatically find trades that are ripe by drawing trendlines that are 10 hours+ long and have just bounced off it (thus giving a good entry point)
-at this point I'd either like to be notified via text/email -- or even have it execute automatically
More...

if you can define what a trendline is then someone can write this software. Unfortunately, technical analysis signals are in the eye of the beholder. :D
 
You are better off buying a robust package that has coding/scripting ability. MANY of the larger packages have this type of script/function/indicator and variations of...
If they have a large user forum base, then that's where you tend to find the best code.

Modify with your own notification parameters.
Throw up 10 charts with the same script/function/indicator.

Done. You have all the power now.
 
Always some good stuff on the traders.com site (Stocks & Commodities Magazine). They post tons of code in various packages. Edit, play, test.

www.traders.com/Documentation/FEEDbk_docs/2007/09/TradersTips/TradersTips.html

September 2007 issue of Technical Analysis of STOCKS & COMMODITIES magazineps include formulas and programs for:

METASTOCK: TRADING TRENDLINE BREAKS
TRADESTATION: TRADING TRENDLINE BREAKS
eSIGNAL: TRADING TRENDLINE BREAKS
AMIBROKER: TRADING TRENDLINE BREAKS
WEALTH-LAB: TRADING TRENDLINE BREAKS
NEUROSHELL TRADER: TRADING TRENDLINE BREAKS
AIQ: TRADING TRENDLINE BREAKS
STRATASEARCH: TRADING TRENDLINE BREAKS
NINJATRADER: TRADING TRENDLINE BREAKS
TRADECISION: TRADING TRENDLINE BREAKS
TRADE NAVIGATOR: TRADING TRENDLINE BREAKS
VT TRADER: TRONGONE MOVING AVERAGES

Sample Ninja
ttfig9.gif


Many software packages have 30-day free trials, and that probably gets you access to the script forums - where folks are posting scripts, modifying and helping each other out. Tradestation forums come to mind, as does eSignal. To really get what you want, learn how to code/script...to modify to fit your needs (i.e. "email/sms me when x occurs" or "filter by ATR deviations")

Good luck!
 
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