Indicators That We Are Using In Our Algos

[MerryDay]

mode note:
ATTENTION ALGO TRADERS:
Be careful with your coding, folks!
The common mistake that n00b algo traders make is to trade on the current bar.

When you write triggers on the current bar, obviously false signals will occur since the current bar doesn't know what the final close, high, and low is going to be until it's finished forming.
Therefore, by definition, you are asking it to repaint with new information on every tick.

To avoid false signals, use of the previous bar [1] for your calculations within your code.
You, macro recorders, be especially careful to filter your ADDLabel statements using the prior bar [1].

Follow the above simple steps and never experience disappearing signals again!
FYI, for backtesting results, In your ADDORDER statements only: use the open of the next bar open[-1] for accurate non-repainted backtesting data.

We have an on-going thread to discuss the mechanical process of HOW to set up ALGOs with ToS here:
https://usethinkscript.com/threads/auto-trade-algo-in-tos.7546/

This thread focuses on WHAT studies to use in your algo system.

 

[Elchulito88]

It def repaints!

 

[irishgold]

I have not found any TOS script that is using the strategy that does not repaint, when you view the trades in TOS you are seeing historical trades. When you are live you will see the trades but they may or may not remain on the screen. There are some strategies I have tested that come close but if you have a bot that is trying to react to was is visually presented, typically it will take the trade as soon as it is shown, then it may disappear then it reappears and your bot takes another trade. I found it too unreliable to auto-trade that is why you need a platform like NinjaTrader to trade strategies

 

[IPA]

I have not found any TOS script that is using the strategy that does not repaint, when you view the trades in TOS you are seeing historical trades. When you are live you will see the trades but they may or may not remain on the screen. There are some strategies I have tested that come close but if you have a bot that is trying to react to was is visually presented, typically it will take the trade as soon as it is shown, then it may disappear then it reappears and your bot takes another trade. I found it too unreliable to auto-trade that is why you need a platform like NinjaTrader to trade strategies

There are ways to make them not paint but the code would have to be re worked quite a bit. I 100% agree with you though!

 

[MerryDay]

mode note:
ATTENTION ALGO TRADERS:
Let's talk about the term "repaint" and what it means.
Essentially, it refers to a recursive operation that constantly redefines functions like highest and lowest by erasing and redrawing.
Repainting also happens with scripts using future bars or MTF code that have to repaint while waiting for the future to happen.

Now, it's important to note that repainted signals are not recommended for entry, which is why the Forum adds the prefix "repaints" to those indicators. DO NOT use these in algo trading.


@IPA statement is correct!

There are ways to make them not paint but the code would have to be re worked.

Be careful with your coding, folks!
The common mistake that n00b algo traders make is to trade on the current bar. When you write triggers on the current bar, obviously repainting will occur since the current bar doesn't know what the final close, high, and low is going to be until it's finished forming.
Therefore, by definition, you are asking it to repaint with new information on every tick.

To avoid repainting, use of the previous bar [1] for your calculations within your code.
You macro recorders, be especially careful to filter your ADDLabel statements using the prior bar [1].

Follow these simple steps and never experience repainting again!
FYI, for backtesting results, use the open of the next bar open[-1] for accurate non-repainted results.

 

[armybender]

mode note:
ATTENTION ALGO TRADERS:
Let's talk about the term "repaint" and what it means.
Essentially, it refers to a recursive operation that constantly redefines functions like highest and lowest by erasing and redrawing. Repainting also happens with scripts using future bars or MTF code that have to repaint while waiting for the future to happen.

Now, it's important to note that repainted signals are not recommended for entry, which is why the Forum adds the prefix "repaints" to those indicators. DO NOT use these in algo trading.


This brings us to @IPA statement:

Be careful with your coding, folks!

The common mistake that n00b algo traders make is to trade on the current bar. When you write triggers on the current bar, obviously repainting will occur since the current bar doesn't know what the final close, high, and low is going to be until it's finished forming. Therefore, by definition, you are asking it to repaint with new information on every tick.

To avoid repainting, ToS recommends using the open of the next bar open[-1] for entry in strategies,
and use of the previous bar [1] for studies. Thereby, never experiencing repainting again!

So, there you have it - the rundown on "repainting"!

I just do what the pros do, and repaint all of my signals to be the absolute low or high tick of a move. That way I can rip off unsuspecting n00bs and charge them for my worthless indicators that look sexy on my website.

Oh no! Now I've revealed my secret!