signals and zones

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ALEX PRUDHOMME
Last seen: 2 years 9 months ago
Joined: 09/03/2020 - 20:49
signals and zones

I have a few signals coded but I only want them to only fire at my red and green zones. right now they are firing all over the place. How can I only have them fire at my zones?

0
Eddy_F
Last seen: 3 months 2 weeks ago
Joined: 07/30/2014 - 16:18
Alex,

Alex,
how did you defined your red and green "zones" ? Using the zone indicator ? other signals ? or some custom indicators ?
There are many ways to "filter" stand alone signals and just keep some selected one, but would need some more information in order to answer your question
Eddy

william-linn
Last seen: 2 days 8 hours ago
Joined: 06/03/2011 - 00:00
signals and zones

One method to define a zone is to create a horizontal referene line in the chart, setup to use say V#1 as the midpoint of a zone. The zone can be color coded red or green using the bands setup for the reference line, specifying say 4 ticks above and below the refence line creates a zone 8 ticks wide with V#1 as the midpoint. You can add a text label to the reference line like "RedZone" or "GreenZone" if you wish. The nice thing about using a V# for reference line price is that the zone can then be dragged up or down with the mouse and the value of V#1 changes to the price value where you move the zone's reference line.

With a green zone setup for V#1, you can then create an RTL signal with this formula, for example.

ABS(CL-V#1)/TINC  <= 4 

i.e. if the absolute value of the price difference divided by TINC (the tick increment) is less or equal to 4 ticks. Name the signal InGreenZone for example. This signal will fire true whenever the last trade price CL is inside this 8 tick wide green zone based on V#1 being the mid point of that zone.

So now, if you have some other signal formula syntax, call it <signal formula> and you want that signal to fire only when the market price is in the green zone you can edit that signal and change it to:

ABS(CL-V#1)/TINC  <= 4   AND <signal formula>

This revised signal will fire only when the market is trading within 4 ticks of the reference line in the green zone and <signal formula> is also true.

Alternatively, when editing your signal formula you could set it up like this:

SIGNAL AND <signal formula>

When you save the formula or click the check syntax button, RTL will ask you to setup the SIGNAL token and you will respond by specifying InGreenZone as the signal to use.

The advantage of doing it this way, using the SIGNAL token, is that you may later change your mind about InGreenZone. If you later change the signal named InGreenZone to be ABS(CL-V#1)/TINC  <= 5 making it a 10 tick zone. Then any other RTL signal you have that references InGreenZone using the SIGNAL token do not have to be found and edited, they automatically begin using the revised definition of InGreenZone.

For simplicity I defined InGreenZone to be 4 ticks above or 4 ticks below the V#1 midpoint price. But suppose you want the bands of the reference line to be 5 ticks above and 3 ticks below the reference line. You can easily make that change by (a) changing the V#1 reference line in the chart so the bands are now drawn 5 ticks above/3 ticks below and (b) editing the signal named InGreenZone to test for that revised meaning of green zone.

The revised formula for InGreenZone would then become:

(CL >= V#1 AND CL - V#1 <=5*TINC) OR (V#1 >= CL) AND V#1 - CL <= 3*TINC)

i.e. when market is trading above V#1 within 5 tick increments (TINC) or the market is below the reference line but within 3 tick increments the signal will be true.

 

 

 

 

 

 

 

 

 

 

joshdawson
Last seen: 1 year 3 months ago
Joined: 04/14/2015 - 12:25
How do I set the Ref line to

How do I set the Ref line to be recorded to V#1?

cpayne
Last seen: 1 year 9 months ago
Joined: 03/30/2009 - 00:00
Ref Lines and V# Variables

If the Reference Line is set to Use V#: V#1 as seen below...  then when you drag the line and drop it on a new price, the value of V#1 will be set to that new price you drag it to.  You can also have a Button Indicator that is setup to set V#1.  You can use that button to change the value of V#1 and the reference line will respond.  You can drag the reference line to a new price which sets V#1 to that price and the Button Indicator will respond to reflect that new price.