[dsalas]

Hello Guys, i use Market profile, volume profile and of course basic support and resistance on a chart for finding levels on the ES, FESX, CORN and Bund.....

I was thinking about building an automated trading system but i HAVE NO idea, really, zero idea....on how people do this....does anyone have a clue about how to do this...it will be very good to write a program that "does" things for me instead of me watching the screen at lunch hour ( i am in the UK)

thanks lots

Daniel

[Tams]

Originally Posted by dsalas »

Hello Guys, i use Market profile, volume profile and of course basic support and resistance on a chart for finding levels on the ES, FESX, CORN and Bund.....

I was thinking about building an automated trading system but i HAVE NO idea, really, zero idea....on how people do this....does anyone have a clue about how to do this...it will be very good to write a program that "does" things for me instead of me watching the screen at lunch hour ( i am in the UK)

thanks lots

Daniel

if you can imagine it,
visualize it,
quantify it,
articulate it,
you can program it.

[dsalas]

How can I do that tams?

[Tams]

Originally Posted by dsalas »

How can I do that tams?

You have already imagined it,
you have already visualized it,

now you have to
1. quantify it in logics, (ie IF this happens, THEN do this, ELSE do that...)
2. articulate it with written words, flow charts, diagrams, pseudo codes,

then we can program it.

[alleyb]

The key is risk management and that is dependent on many things, sometimes Time, sometimes Speed of Movement, sometimes Volume, sometimes Dollar amount, sometime Cycles of X Number of Bars, sometimes Seasonals, sometimes Percentages of Movement and sometimes Percentages of Account with regard to Leverage and/or Drawdown sometimes external events both known and unknown

The advice of IF THIS THEN THAT is good but you also need to know how to program position sizing according to market condition. Not all trades are equal in terms of risk some are scalps some are swings. Differentiate this and then you have an ALGO to take on the very best

You state support and resistance. Define them. for me in MP then support is defined as when the buyer is able to halt the selling and the buyer is able to overwhelm the seller and stabilize the market in terms of directional trade. and obviously vice versa. This could be as simple as saying if X bar rotates in the opposite direction and exceeds then.... However how would you deal with a bar that opens on a high and closes on a low followed by the next bar that opens on the low and closes on the high

Define your Timescale, Define your Basis for Order Entry and Order Exitt, Define Rsk Proposed,
write it out and apply the logic

[robertm]

Originally Posted by alleyb »

However how would you deal with a bar that opens on a high and closes on a low followed by the next bar that opens on the low and closes on the high

You define a range filter, this solves this issue. Volatility works better for this than % price or % retrace.

Or you invent AI & just tell it your logic & let it write the code for you

[TraderWill]

Hi Dsalas,

Have you programmed on your charting platform before? If not then the first step is to learn how to code some simple indicators and get familiar with the programming language. Most charting applications have tutorials to help you. Then if you want to look at support/resistance levels you can code a simple indicator to plot the highest high and lowest low over different time frames, eg the last hour, since session start, last 15 minutes, etc. This can show you clusters of support/resistance levels and you then move to the next step, deciding what you want your system to do when price is near those levels.

Good luck in your trading.

[max8ion]

I think you shouldn't do it on your own, maybe the best way is gonna be to ask help from the professionals? Probably they will do it in a better way, and you will make your lunch time free from watching your screen!