Looking For The Perfect ALGO Indicator

[MerryDay]

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 new thread is going to be focused on WHAT studies to use in your algo system.

 

[ChristianS]

thank you all for sharing your jobs, I am using a mac osx, I ask you……. What is the study that best approaches the perfect output? ?????
I am looking for a script for my algo system.

 

[Trader Raider]

For several months now, I have been programming algos in easyLanguage. Based on that experience, I believe the most difficult aspect isn't coding entry criteria. It's coding the exit because there can be so many nuances to closing a trade. The longer I work on the project, the more I am attracted to very simple strategies such as crossovers for entry and profit targets (in dollars) for exits if allowing the algo to manage the trade.

Lately I have moved away from allowing the program to manage the exit. It is more profitable to let the algo open the trade with a bracket order and then I adjust the stop loss and profit target based on structure and price action. That kind of exit criteria is something I will never have the skills to code but can easily adjust manually once the trade has been opened by the ago.

Best wishes and happy trading!

 

[ChristianS]

For several months now, I have been programming algos in easyLanguage. Based on that experience, I believe the most difficult aspect isn't coding entry criteria. It's coding the exit because there can be so many nuances to closing a trade. The longer I work on the project, the more I am attracted to very simple strategies such as crossovers for entry and profit targets (in dollars) for exits if allowing the algo to manage the trade.

Lately I have moved away from allowing the program to manage the exit. It is more profitable to let the algo open the trade with a bracket order and then I adjust the stop loss and profit target based on structure and price action. That kind of exit criteria is something I will never have the skills to code but can easily adjust manually once the trade has been opened by the ago.

Best wishes and happy trading!

i absolutely agree with you , so far I have managed to automate everything but as it is used in the existing indicators I cannot find the right one and I conclude that it is better to be all automatic but the output makes it manual when it creates this satisfied