ProRealTime

[cube101]

Hello, Does any one know if its possible to create an indicator that colours the price bars based on some othere events being true or false? are there any Pro Real Time forums?
thanks

 

[timsk]

I thought I'd add my own query to this thread rather than start a new one with the same name.

I want to add ATR to a ProRealTime chart which is easy enough, but I'm confused by the options in the 'Apply to' drop down menu under the number of periods in the Settings window (see attachment). I'm probably being really stupid and missing the blindingly obvious, but none of the options seem directly applicable to ATR? They're fine for a standard moving average, however, I'm just not clear as to which option most closely resembles Wilder's original calculation? Any thoughts would be gratefully received.
Cheers,
Tim.

 

[Doctor Leo]

timsk, it's easy yet maybe not quite correct. ProRealTime always offers a choice of options for almost any indicator. They serve as replacements for "close" value in any calculation. So, if you look formally at the Wilder's calculation, you'll see a "close" price there. Replace "close" with one of PRT's options and voila — you've got a new indicator. The question of its meaning is of course a side thing

cube101, ProRealTime cannot colorize bars (as Tradestation does for example) as far as I know. The best approximation to it is using colour zones.

 

[paulmevans]

Hi timsk, I've just been searching around for an answer for this myself.

My logical reasoning has been to set it to 'low', especially if you want to use it to calculate your stops and not get stopped out...i.e. close wouldn't apply in that scenario. Does that make sense and what did you end up going for in the end?

Regards, Paul

 

[timsk]

Hi timsk, I've just been searching around for an answer for this myself.

My logical reasoning has been to set it to 'low', especially if you want to use it to calculate your stops and not get stopped out...i.e. close wouldn't apply in that scenario. Does that make sense and what did you end up going for in the end?

Regards, Paul

Hi Paul,
Welcome to T2W.
It's so long ago now that I can't remember what I did! Not that it matters, as I rarely look at PRT these days. As for which setting is best for you, I'd just play around with the options and see which one appears to work best.
Cheers,
Tim.

 

[loudon3]

Hello, Does any one know if its possible to create an indicator that colours the price bars based on some othere events being true or false? are there any Pro Real Time forums?
thanks
________________________________

Not sure about the ProRealTime indicator, but there is a ProRealTime / ProScreener / ProRealTrend / ProBackTest Group on Facebook at http://www.facebook.com/group.php?gid=100491550007233 .
.

 

[loudon3]

I thought I'd add my own query to this thread rather than start a new one with the same name.

I want to add ATR to a ProRealTime chart which is easy enough, but I'm confused by the options in the 'Apply to' drop down menu under the number of periods in the Settings window (see attachment). I'm probably being really stupid and missing the blindingly obvious, but none of the options seem directly applicable to ATR? They're fine for a standard moving average, however, I'm just not clear as to which option most closely resembles Wilder's original calculation? Any thoughts would be gratefully received.
Cheers,
Tim.

Personally, I use the ProRealTime "SuperTrend" indicator to indicate the current trend... it tends to stay below price on Long trends, and above price on Short trends, and ATR is part of the algorithm for calculating the levels.

In practice, I use SuperTrend on 4-Hr and 1-Hr and 15-min charts to establish a common trend direction, be it Long or Short, then trade only in that direction when Day Trading.

 

[loudon3]

Trade The Forex Trend with ProRealTime using ProScreener

Personally, I use the ProRealTime "SuperTrend" indicator to indicate the current trend... it tends to stay below price on Long trends, and above price on Short trends, and ATR is part of the algorithm for calculating the levels.

In practice, I use SuperTrend on 4-Hr and 1-Hr and 15-min charts to establish a common trend direction, be it Long or Short, then trade only in that direction when Day Trading.

If anyone is interested, I've now started a separate thread on this subject here:

http://www.trade2win.com/boards/for...ime-proscreener-prorealtrend-probacktest.html

I've added a write-up there entitled, "Trade The Forex Trend with ProRealTime using ProScreener".