Major Average Study/Indicator?

GatorTrader

New member
Hello Everyone,

I'm newer to this site, but enjoying it quite a bit. Thank you all. And yes, Ben, I'll be donating because I admire your hard work here. Site is excellent.

I wasn't sure what to call my subject line. This may be a stupid question but I'll ask it anyways, just in case. Is there a way to create an indicator based on the overall daily performance of the market?

For example, if you're backtesting a strategy but an indicator randomly performs much differently than 'usual' all of the sudden because of a Trump tweet or other major news, is there any method to writing a script that will reflect the abnormal market condition?

Go easy on me if this is a ludicrous idea, as it's my first post here, but clearly some of you are highly intelligent and I found you all worthy of asking.

Thanks in advance and I certainly welcome any and all collective thoughts on this. For additional context, I'm trying to keep 5 kids in private school so I'm with you all in trying to profit and grow from the knowledge shared here :)
 

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
Hey @GatorTrader, welcome to our community. Appreciate your kindness. There is no dumb question so don't even worry about it :)

ThinkorSwim is very limited when it comes to backtesting. As far as programming a strategy where it ignores Trump tweets is impossible, or at least with what TOS provided. Best way to avoid this is to sit on the sideline when you know there is some sort of economic event or important political meeting (Trade war deal negotiation for example) coming up. It's easy to force a trade and it's even easier to lose money.

I know it's not the answer you're looking for but I thought it's worth mentioning here.
 

GatorTrader

New member
Thanks @BenTen for the quick response. Much appreciated. Your answer alone is worthwhile. I get your response completely which is why I couldn't bring myself to hold calls over the weekend, given the uncertainty that lies ahead due to the outcome of Trump/Xi's meeting. Just would love if someone figures out a way to create an indicator for this. All the best.

By the way, I can't find where you list the dollar donation amount to get VIP access but I'm definitely interested :)
 

GatorTrader

New member
I'm of the generous mold. Will knock this out tomorrow. Cocktail hour tonight and my grandmother's funeral tomorrow. Yes, the 2 are conjunctive. Will send a monetary donation tomorrow upon my return.

Have a great night
 

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