Why better ? ...because it trades any logic ; you provide the logic !
Any indicator that produces symbols can be used together with PMS_Markers to trade its signals.
If you have an indicator that shows entries with any kind of symbol like arrows, dots, lines, etc, then with this system you can automate the process of entering trades.
PMS_Markers uses the logic described on TIS_Markers Indicator for Ninjatrader to detect markers drawn into a Chart.
Take a look at this YouTube Video for more info :
The system provides the Debug Mode to verify the settings of any Object Placed in the Chart.
We put that data into the PMS_Markers and then we just let the system trade the signals
Features of PMS_Markers
- Trade in Manual or Automatic Mode
- Select Auto or Manual from the ToolBar
- Use ATM Orders
- Select ATM Name from the ToolBar
- Enable Longs and Enable Shorts from the ToolBar
- Money Management Option to Limit Max Daily Loss and Max Daily Profit
- Time Window Option
- Addition of Exit Condition ( User can Specify an Object to Close Current Position )
- Time Window can Work at Midnight ( Time Begin > Time Finish )
Example ; to trade from 11 PM to 2 AM we can set
Time Begin = 230000
Time Finish = 20000
- Easier Introduction of Object Filter Settings :
Only 2 Conditions per Side are needed : Object Type and Color
We can use advanced Settings like Text Contents or Tag Name by
clicking on Advanced Settings :
When using Text Objects, we can use Exact Match or “Contains” Match
With “Contains” a Text Object with the String “Go Long” will be detected by “Long”
To avoid confusing “13” by using a filter=”3” we can use “Exact Match”
When we look for text signals containing numbers it is convenient to use Exact Match.
- Addition of Info Text on Chart to let the User know the System is not taking trades because it is outside of the Trading Window.
- Now the Orders are Persistent.
That means that if the system has a position working and we need to refresh the chart
..to add a new indicator
..to modify the setting of other or even Markers Indicator
the current position status will be remembered by Markers
On previous version ( v2 and lower ) any refresh of the chart would cause Markers to forget its current Position and Orders Status, so, never closing the current position when a new signal or Close Time would require.
- We added the option to set Markers on “Calculate at Bar Close = True” Mode.
The normal use of the Markers System is on intrabar (false) ; so as soon the trigger object is detected, an entry order is issued to the Exchange.
On some special situations, it may be useful to wait to the end of the current bar to send the Entry Order. On those cases, use the Option Calculate at Bar Close = True.
Please let us know your comments !