Import custom indicator from Trade Station

I attempted to import a custom indicator from TradeStation.  The indicator calculates several local variables and one output (numeric) variable.  I am stuck on the step of importing the values of that indicator.  What exactly is meant by the indicator code (SQ manual page 115).  

Is it the name and parameters of the indicator like illustrated on the same page?  Something like MACD(C,12,26,9)[D]?  In my case it is SM((H-L)/2, 0.07, 8)[D].  

The indicator code is EasyLanguage script that describes how the output values are calculated in TradeStation. Details on how to get indicator values are also described on page 116.

tomas262

thanks for the reply.  Script like the code for indicator, like, for example:

Inputs: TCLen (10), MA1 (23), MA2 (50);

I look at my post and realize how unclear my question was.  One of the Staff responses and my reply disappeared, so let me re-state it 

I understand that SQ will not optimize or change in any way  parameters of a custom indicator.  What follows, I assume, is that the values of such indicator will create a “backbone” of a strategy (will serve as a constant value).  Depending on the “quality” of that indicator vis a vis an instrument such modeling maneuver may be good or (most probably?) bad.  Is there any research on that topic?  What is the experience or prediction of the software creators and its users?  

This, I realize, is more important than my problems with the mechanics of importing a custom indicator to SQ.

As I replied in another thread about this I need to check the steps for importing custom indi into SQ

I look at my post and realize how unclear my question was.  One of the Staff responses and my reply disappeared, so let me re-state it 

 

I understand that SQ will not optimize or change in any way  parameters of a custom indicator.  What follows, I assume, is that the values of such indicator will create a “backbone” of a strategy (will serve as a constant value).  Depending on the “quality” of that indicator vis a vis an instrument such modeling maneuver may be good or (most probably?) bad.  Is there any research on that topic?  What is the experience or prediction of the software creators and its users?  

This, I realize, is more important than my problems with the mechanics of importing a custom indicator to SQ.

Hi Rom,

I have imported many custom indicators into SQ.  The process is to export the values into a file and import them into SQ.  There are some details around this obviously.  Your question about parameter values on the indicator is correct, there are some parameters that work well perhaps and others that don’t.  I export the file of indicator values many times, with varying parameters and import each permutation into SQ.  It is very time consuming, and literally can take days of work since I might have over 100 files to import.  I do each import into SQ manually.

So far, no indicator has added any value beyond the built in ones.  My most robust and best strategies so far are so simple it’s crazy.  When you think about most custom indicators are just calculations on price with moving averages and simple calculations.  SQ can emulate most of these in it’s building blocks.

I believe the only value there is in custom indicators are calculations that involve external (not price related data) input, such as sentiment, economic news data, correlation values etc.

Mikeyc,

Thank you very much !  It is most helpful.  

As an aside….  How do you guys generate those strategies?  I don’t doubt it is possible, but I have been running it 4 days straight and nothing.  I think I keep all conditions bare-bone simple.  The only thing I am not sure about is degrees of freedom.  It should be high, but how high?  I think I will skip that setting and allow it to float.  I am really curious how a randomly assembled strategy looks like.