Trade station StochRSI

Trade station does not have Stochrsi as one of there normal indicator like Qcharts. Though after some research I was able to find the indicator. If you have trade station all that you have to do is open easy language add new indicator name it Stochrsi. Add the following language below, hit F3 to verify the language and then you can add it to the charts. Hope this helps anyone who may be looking for it. Joe


inputs:
RsiLength(14),
StochLength(14), { # of bars, periodK }
KSmoothing(3), { MA(periodK) }
DSmoothing(3), { MA(percentK) }
OverBought(80),
OverSold(20),
MidLine(50);

variables:
MyRSI(0),
MyStochRSI(0),
oFastK(0),
oFastD(0),
oSlowK(0),
oSlowD(0);

{ Calculate the RSI }
MyRSI = RSI(Close, RsiLength);
MyStochRSI = Stochastic(MyRSI, MyRSI, MyRSI, StochLength, KSmoothing,
DSmoothing, 1, oFastK, oFastD, oSlowK, oSlowD);

{ Plot the lines }
Plot1(oSlowK, "PercentK";
Plot2(oSlowD, "PercentD";
Plot3(OverBought, "OverBought";
Plot4(MidLine, "MidLine";
Plot5(OverSold, "OverSold";



Edited 2 time(s). Last edit at 04/27/2013 06:30AM by Trader Joe.

Also for some reason the when I look at my post at the bottom it has smiley faces. When you copy this over to easy language they are not there. Just in case anyone was wondering. Not sure why they are placing in smiley face when I copy to the forum. Joe

Joe:

Maybe the smiley faces are there to remind you to not reveal Gary's parameter numbers of StochRSI, since signing his non-disclosure. (you can edit your above note to remove them)

So, is TradeStation free? Can you see Dow, NQ, ES Futures? Do you have custom times 233, 55... How long did it take to set up the charts? Was it "eight days" like Gary says?

(I'm using free OptionsXpress with everything fine except a near exact trigger for StochRSI.)

Thanks.

When I signed up it was Free. And no it does not take eight days. You can see Dow, NQ, ES futures, Though some things are delay unless you pay the $25 for the service.

Joe,

Thank you so much. I call Trade Station to inquire. There are custom times (233, 55...) right?

Keeping on trading well and take the "Chunk".

(Thanks for altering the numbers above)

WSBstudent

I had to slightly modify the StochRSI indicator on TradeStation by creating an edited Stochastic function to add an option for smoothing the %D line using a simple moving average. I found that this got my results closer, but not exactly the same, as the StochRSI indicators in QCharts and Think or Swim. Amazingly enough, Think or Swim exaclty matches QCharts. I got TradeStation results to be very close, but not exactly the same as QCharts and Think or Swim. For picking entry/exit points using the indicators, my TradeStation results are close enough to be entirely satisfactory. If I ever have extra time, I might play around with the TradeStation code some more to see if I can get an exact match.

Yes there is 233 and 55 time frames. You can choose any inter-day value. Joe

Joe:

Thank you.

I noticed on the TradeStation website that for equity accounts "you will be billed exchange fees for any real-time exchanges which you choose to receive." Are they referring to real-time data and do you get billed? I'm going to call them Monday, but I thought I'd ask you.

Thanks.

WSBs

HI WSBSTUDENT:

You should give them a call. They are always doing different promotion. When I signed up you had to deposit $5000 in your account and they give free real time data for life for free. As I alway say ask for the world what is the worst they can say "No" . Nothing venture nothing gained.

Joe

Just to let everyone know that on Apr 28 TOS released it latest updates and it will now start the candles at the market open on equites, so that the 233 time frame can be used and matches Gary's charts.

All,

For anyone concerned about switching to TradeStation, I switched from QCharts to TradeStation about 3 weeks ago. I was searching for a replacement because I was tired of the continual price increases by QCharts with no improvements to their software. Before I cutoff QCharts, I worked for a few hours to get all of Gary's indicators from QCharts to match in TradeStation, and I found that I was able to get everything indentical (switching back and forth between the 2, between several symbols to verify). I am extremely happy with TS as it has all the functionality of QCharts and a whole lot more. I have scans setup to automatically search for HRFP on multiple timeframes, candlestick patterns, etc. You can set your charts to any timeframe interval you desire, just like QCharts. All the charts load extremely fast. QCharts over time (for me) became extremely slow. It would lock up for sometimes 30-40 seconds each time I clicked a new symbol. That never happens with TS. I do have 8GB of RAM, and I would say the only downside to TS is that is it more of a memory hog than QCharts, but RAM is cheap, so not a concern for me.

The promo I got in on was free platform for the life of the account. The rep I signed up with said if I sent others to him, he could offer the same promo (nothing in it for me). I pay $8.00 a month for market data (without futures - I think that's another $25 or $30 month). This is way less than the $180ish I was paying for QCharts. Even if you don't get the promo, they waive the platform fees ($99 + $59 for RadarScreen, which is your basket list) if you trade 50 or more contracts a months, which should be easily doable. If you trade 10 contracts, that 10 for the buy and 10 for the sell, so with 1 trade you are almost halfway there. Min account opening is $5000 and you have to maintain $2500 balance to keep any promos they give you.

So if you're looking for a possible QCharts replacement, I would highly recommend TradeStation. I evaluated a number of other platforms before switching (TC2000, OptionsXpress XTend, Ninja Trader) and in my option, TS was the best. If you search the TS forum as I did, you will be able to find help getting indicators setup (like StochRSI) to match Gary's, and we don't have to worry about violating our agreement if you do a little work on your own with the materials you have from class.

beachbumfl

Trader Joe,

Thanks for adding this I'm set up in about 1.5h.

NB Directional movement is called 'DMI - took me a while to find

Also when copying into the easy language editor, the smileys in the code above need to be replaced by a close bracket i.e. )



Thanks



Edited 2 time(s). Last edit at 05/08/2013 05:59AM by eternal sunshine.

Trade Joe

Can You Help Me With The Stochrsi Setup. I Keep On Getting A Error Message.


Thats Bojiggle

This one worked for me, exactly matched my QCharts

[community.tradestation.com]

Thanks for the help on the RSI - worked great.

Quick question...my 233 is not downloading completely. It seems like only a few weeks of data is downloading and none of my moving averages are appearing. Any suggestions? Thanks!