Modify Trading Style Dialog: Analysis Fields
The Modify Trading Style Dialog allows you to specify the settings associated with a particular trading style. The Analysis Fields page allows you to specify the fields to use for values during signal analysis.
& For help with trading styles, see Using Trading Styles.
Selecting the Fields to Use for Signal Analysis Values
Signal analysis can be set to use different fields for determining the trading values to use during the analysis. Each setting can be set to the value of a specific field, or the average of multiple fields.
TradingSolutions is typically used as an end-of-day package, with data being downloaded after the closing price is available. Trades are typically entered the next day. Therefore, trading styles are often set up to use today’s close or tomorrow’s open as the trading price. When the trade is executed on the next day, it is compared to the high and low prices for that day.
¨ Trading Value
This value is the price used for the market entry price and the exit price of each trade. Typical values are the next opening price or the current closing price.
Ä Note: Trading at the current closing price is not technically possible; however, this type of analysis can be useful for "what if" style analyses.
Ä Note: The signal analysis for trading on the current close still displays the trade as occurring on the next bar. However, the price used for the trade will be the preceding close and will not be affected by the new trading range.
& For additional notes on using "Next Open", see Using Trading Styles.
¨ Basis for Current Equity
This value is the price used when determining the current equity in the analyzed trading account. It does not affect the way the stock is traded.
& For additional notes on this value, see Using Trading Styles.
¨ Basis for Limit Order
This value is the price used to create the limit price by adding or subtracting the specified amount from it.
Ä Note: It is not possible to physically trade values for the next bar other than the open. This is because the next bar would need to complete before these values are known, making it not possible to trade during that bar.
Ä Note: Using a value from the next bar (tomorrow) will mean that display fields showing the limit price will not be available for the current day.
¨ Basis for Trailing Stop
This value is the price used to create the trailing stop price by adding or subtracting the specified amount from it.
Ä Note: It is not possible to physically trade values for the next bar other than the open. This is because the next bar would need to complete before these values are known, making it not possible to trade during that bar.
Ä Note: Using a value from the next bar (tomorrow) will mean that display fields showing the stop price will not be available for the current day.
Ä Note: The initial stop price does not use this value.
¨ Opening Value
¨ High Value
¨ Low Value
These values are the prices used for the open, high, and low values of each bar, which determine the trading range associated with stops and limits. In most cases you would not change these values. However, these settings allow you to set these values to adjusted Open, High, and Low values.
Ä Note: The Close value is not used by name. It is only referenced if specified as the trading value or as a price basis.
Selecting Select Other Fields… for any of these entries displays the Select Trading Style Fields Dialog. From there, you can specify which specific field or fields to use for this value.
Additional Analysis Values
p Benchmark Data Series
This setting allows you to specify a benchmark data series to use when viewing the analysis of signals using this trading style. A new data series can be selected by pressing the Select… button. This will display the Select Data Series Dialog.
What Do I Do Next?
If you are finished modifying the settings associated with the trading style, press the OK button to save your changes or select another property page. If you would like to exit from this dialog without performing any changes, press the Cancel button.
Additional Property Pages
The Modify Trading Style Dialog has the following property pages.
This page allows you to set the name, broker settings, and position sizing.
This page allows you to set limits, stops, and slippage values.
This page allows you to specify the characteristics to take into account when optimizing an entry/exit signal.
This page allows you to specify which trading style settings are available for optimization.
This page allows you to specify the fields to use for values during signal analysis.
& For help using property pages, see the help for Property Pages.
How Did I Get Here?
The Modify Trading Style Dialog is displayed when you press the Add New… button or the Edit… button on the Define Trading Styles Dialog.