Flexible Trade Strategy Interface

[john123]

MW is indeed the best platform, but limiting it's potential for non-coder is quite annoying. As the inbuilt strategies are limited & we can't do programming so it's always better to make an interface to create my own strategy based on different indicators. MW team please think about it.

Thanks

 

[MotiveWave_Jason]

Hello John,

Do you mean some sort of easy to use strategy wizard or scripting language that doesn't take programming knowledge to create?

 

[lutaMW]

yes, this feature very much required. It will add the flexibility to create scans which are currently beyond the realm of non-coders...

 

[MotiveWave_Jason]

yes, this feature very much required. It will add the flexibility to create scans which are currently beyond the realm of non-coders...

Hi luta,

When you say scans do you mean our scanner or were you just referring to studies and strategies?

Right now our scanner is easy to run although we hope to improve it in the future with more scanning criteria.

 

[lutaMW]

Scans in particular, with multi time frame, like those with Advanced Get... Building Strategies would add more flexibility, ofcourse it won't be complex one, but simple ones..

 

[john123]

Hello John,

Do you mean some sort of easy to use strategy wizard or scripting language that doesn't take programming knowledge to create?

Absolutely. & We should have the flexibility to choose any inbuilt indicators to make our own strategy.

 

[barry]

Trade Station Easy Language was very flexible and useful. Is that a scripting language?
I haven't found candlestick pattern indicators and alerts: doji, engulfing, etc. in MW so I wanted to create my own.
Do I need a Java course to accomplish this?

 

[lutaMW]

MW being a professional platform, along with EW,Harmonics, more emphasis should be also given on RSI , as it forms the base of most professionals , for eg. certain scans , based on RSI multi time frame and ability to make strategies based on it shall be very useful...

 

[MotiveWave_Jason]

@john123 @lutaMW Thank you for the feedback, this is something we have talked about adding in the past. I will be sure to add a few more check marks to this feature request.

@barry Yes Easy Language is their own scripting language. You would need to have an understanding of Java to create your own studies/strategies with MotiveWave, although we do provide the source code for our studies which can serve as a reference.

 

[lutaMW]

MW being a professional platform, along with EW,Harmonics, more emphasis should be also given on RSI , as it forms the base of most professionals , for eg. certain scans , based on RSI multi time frame and ability to make strategies based on it shall be very useful...

RSI divergence tool is good, and would like to know how do I change the number of bars for divergence, for eg.. i need to check a 5 bar to 9 bar divergence for prices piercing / beyond Bollinger bands. Secondly , if a Auto tool could be added for spotting reversals (RSI based) positive reversal (PR) & negative reversal (NR ) for the specified area, (based on Andrew cardwell's un-conventional RSI methods) would be indeed helpful, and would add an edge to MW.

 

[MotiveWave_Joe]

MW is indeed the best platform, but limiting it's potential for non-coder is quite annoying. As the inbuilt strategies are limited & we can't do programming so it's always better to make an interface to create my own strategy based on different indicators. MW team please think about it.

Thanks

We do presently have a feature request listed for the creation of a strategy wizard and / or scripting language.

 

[lutaMW]

Is it possible to build simple study/strategy in MW, to sort stocks based on following criteria, RSI Dly,Wkly, Mth - RSI crossing/above 60 / below 40 ..?

Also a RSI - Multi time frame indicator tool shall be extremely helpful.. snapshot attached

 

[MotiveWave_Jason]

Is it possible to build simple study/strategy in MW, to sort stocks based on following criteria, RSI Dly,Wkly, Mth - RSI crossing/above 60 / below 40 ..?

Also a RSI - Multi time frame indicator tool shall be extremely helpful.. snapshot attached

To sort stocks based on RSI you could create a custom column in version 6. Configure > Custom Column, you can then setup RSI and add this custom column to a Watch List and sort the Watch List based on values or highlight background based on values. You could also use the scanner to scan a list of instruments for your criteria.

You're able to change the time frame on studies. When adding a study go to the Options tab and uncheck Use Chart Bar Size and select the time frame you wish to use, you can also add this study to an existing graph so they overlay like in your example.

 

[john123]

Is there any way to overlay Heikin Ashi / Kagi / Renko on a chandle chart i.e. use this as an indicator!!! And also can we plot one one instruments candle on another chart to understand the correlation!!!

 

[lutaMW]

To sort stocks based on RSI you could create a custom column in version 6. Configure > Custom Column, you can then setup RSI and add this custom column to a Watch List and sort the Watch List based on values or highlight background based on values. You could also use the scanner to scan a list of instruments for your criteria.

You're able to change the time frame on studies. When adding a study go to the Options tab and uncheck Use Chart Bar Size and select the time frame you wish to use, you can also add this study to an existing graph so they overlay like in your example.

Cool ...its done.

pfa, screen shot of RSI MTF marked with Black/Blue/Dark red lines on RSI , is it possible to mantain equal RSI MTF levels , instead of the respective candle TF on basis of its closing...

 

[MotiveWave_Jason]

Is there any way to overlay Heikin Ashi / Kagi / Renko on a chandle chart i.e. use this as an indicator!!! And also can we plot one one instruments candle on another chart to understand the correlation!!!View attachment 43

Hi John,

You can plot one instrument over another by using the Study > Instrument > Instrument Overlay study. You could overlay a Heikin-Ashi on top of a regular chart but you wouldn't get the colors of the Heikin-Ashi.

 

[MotiveWave_Jason]

Cool ...its done.

pfa, screen shot of RSI MTF marked with Black/Blue/Dark red lines on RSI , is it possible to mantain equal RSI MTF levels , instead of the respective candle TF on basis of its closing...

Hi luta,

If you open each study's properties and enable Bar Updates (Options tab) it will update each study on every incoming tick instead of the bar close. This will extend each RSI like you want and have their values updated constantly.

 

[lutaMW]

Hi luta,

If you open each study's properties and enable Bar Updates (Options tab) it will update each study on every incoming tick instead of the bar close. This will extend each RSI like you want and have their values updated constantly.

Cool .... Thx Jason

 

[dsinnig]

Trade Station Easy Language was very flexible and useful. Is that a scripting language?
I haven't found candlestick pattern indicators and alerts: doji, engulfing, etc. in MW so I wanted to create my own.
Do I need a Java course to accomplish this?

Hi Barry, since you mentioned the candlestick indicator. I have created a pre-packaged CandleStick study which identifies for 16 different patterns. It can also be used with the MW scanner. It's available here: https://tradingindicators.com/mw-candlestick-premium-1-0/

Daniel

 

[Oltreoceano]

Any Chance MW can code the Heiken Ashi Candle so that they can be overlaid on Renko and Range Chart. This is a feature available in almost every platform