Tradestation

If there is a code for the auto wave that I can use in tradestation within this forum would someone please point me in the right direction? I have looked all over and I am not having any luck. I see that there is a code for TOS. Thank you in advance.

I looked all over for code in TOS and Tradstation that would do it and never could find anything that matched even though some of the indicators were called autowave. I even reached out via email to the guy who originally wrote the code for QCharts and was not able to get anything. Honestly, I'm not convinced that Autowave is anything special. From what little I could tell, it combined previous swing highs/lows with some Fibonacci stuff and variable sensitivity settings to fine tune the waves. Remember, there is no magic technical indicator!

So are you guys using ToS instead of Alchem? What are the benefits of Alchem that I don't/can't get with ToS? I think I have the full parameters of GWs current settings minus a/w, but was thinking of using Alchem/GW proper workstation to test it for a bit

It appears that autowave was reverse engineered for ToS and can be purchased. Some web searching will reveal the details. I assume Alchemcharts also reverse engineered autowave. The major benefits of TradeStation and ToS are the ability to add and/or customize technical indicators, as well as to use the respective scripting languages to automate certain functions like HR/HRFP (now SLI as I understand it) so stocks on your watch list alert when these conditions occur. I have looked at the Alchemcharts web site but have not used the software; however, it appears to have been developed to closely follow Gary's system of trading. I can't justify the monthly charges for Alchemcharts, just as I dropped QCharts when the price kept going up.

In addition to ToS I'm keeping a foot firmly in the TradeStation camp right now in case Schwab screws up ToS since their purchase of TD Ameritrade. Hopefully Schwab will scrap additional Street Smart Edge development and instead put resources into continuing to improve ToS. Just my opinion. Your mileage may vary.

Yeah Robert has a good autowave for TOS. Check out his website.

Yeah I don't mind paying a monthly price for a product like Alchem IF I'm making money. If I'm not making money or not trading, then I don't like that. Also fingers crossed and hoping Schwab doesn't mess with TOS.

R

Hello. I haven't posted on this board in YEARS. I've been getting a fair bit of PMs lately, though, since S1 class just ended.

Anyway, this post explains how the autowave line works. You can use that information to code it yourself, or purchase it from my website.

- robert


Professional ThinkorSwim indicators for the average Joe

Thanks kindly for the reply Dan. I recall paying for Qcharts for my year of papertrading - THAT was rough in 2006 as a recent grad and grinding a couple jobs. I will likely use download the Alchem/workstation for now since I'm fresh from class and see what that's like, though I'm also feeling good about where I am with TOS and some recently added indicators, etc.

And also, special thanks to Robert for all of his work.

Also hoping that Schwab doesn't ruin TOS as you've mentioned.

Hey Robert,

Glad to see you're still lurking on the board from time to time.

R

@RichieRick

I still get email when someone PMs me here. Usually, I just respond via PM and lay low. However, I've been getting a lot of requests from S1 students asking for help setting up TOS. So, I figured it would just be easier for everyone if I updated one of my older threads to include a basic chart setup.

Now, I'll probably go back to incognito mode.

Cheers, Rick.

- robert


Professional ThinkorSwim indicators for the average Joe

There are several distinct differences with ALCHEM.
1. Quarterly chart
2. 3 day chart
3. Auto wave
4. Ability to go back in time and study one candle at a time while setting the indicators form as they did during live trading.
I’m sure there are more reasons but those are my top reasons for using ALCHEM.

TOS has the OnDemand feature which also lets you go back in time and watch just like live trading also. You can watch is paint the candles second by second if you want to.

It has quarterly and Autowave. You just have to build them yourself. Robert has an good autowave on his website as well.

As for the 3 day chart. I've seen it in Alchem, but I don't think GW does anything with a "3 day chart" unless it something really new.

R



Edited 1 time(s). Last edit at 02/14/2021 08:11PM by RichieRick.

I looked all over for code in TOS and Tradstation that would do it and never could find anything that matched even though some of the indicators were called autowave. I even reached out via email to the guy who originally wrote the code for QCharts and was not able to get anything. Honestly, I'm not convinced that Autowave is anything special. From what little I could tell, it combined previous swing highs/lows with some Fibonacci stuff and variable sensitivity settings to fine tune the waves. Remember, there is Zumbalicious no magic technical indicator!

I agree with MIke. I also reached out to the original QCharts developer and was not able to obtain any information other than what is in the Qcharts manual. It is essentially Fibonacci retracement and projection levels with some tweaking for the levels and the amount of candles to consider from the last "swing" high or low. I also do not think it is anything special. As opposed to Zumbalicious I nominate Simpler Trading's Voodoo Lines (https://bullishbears.com/voodoo-lines/).