The Markplex Direction Finder is a TradeStation EasyLanguage PaintBar study designed to show price ‘direction’ in price action on a chart. The program works by analyzing slope together with chart conditions based on a proprietary combination of price momentum indications. Bars are colored based on the programs‘ calculation of the price direction. User inputs determine the color that bars are painted when in a bullish or bearish direction. The program uses the GradientColor reserved word to paint bars somewhere in the range of colors between these user inputs. The colors are calculated at the end of the bar. The program was developed using TradeStation 9.0.
Downloads
Program 40 | Markplex Direction Finder for MultiCharts is available for immediate download for $69.95. The download is a MultiCharts PLA file that includes the unprotected program. It was created in MultiCharts 8.8 (Release 8967).
There is a video demonstration of the program below.
Bars are not colored retrospectively. In other words, Markplex Direction Finder does not go back and paint a previous bar after the fact. Some programs do this and it might look good but it would not be very useful.
Direction Finder works on monthly, weekly, daily, intraday and tick charts.
Inputs
- UpColor( Green ),
- DownColor( Red ),
- Tuner1( 50 ), // Should be between 0 and 100
- Tuner2( 50 ); // Can be any integer
UpColor determines the color that bars are painted when the program determines there is a bullish direction. DownColor determines the color that bars are painted when the program determines there is a bearish direction. The program uses the GradientColor reserved word to paint bars somewhere in the range of colors between UpColor and DownColor depending on what it determines to be the current strength of price direction.
Tuner1 must be set between 0 and 100. The lower the number the greater the number of false positives. Tuner2 should be set to any integer. Again, the lower the number the greater the number of false positives. Users should start with a relatively small number for both inputs and gradually increase the values until an acceptable result appears for a particular symbol.
Video explanation
Additional screen prints
Downloads
Program 40 | Markplex Direction Finder for MultiCharts is available for immediate download for $69.95. The download is a MultiCharts PLA file that includes the unprotected program. It was created in MultiCharts 8.8 (Release 8967).
Downloadable PDF
Please note that any screen shots on this site are examples and are not meant to imply that any of these programs will generate profitable trades.
THESE INDICATORS, SHOW ME STUDIES, STRATEGIES AND OTHER PROGRAMS HAVE BEEN INCLUDED SOLELY FOR EDUCATIONAL PURPOSES.
TO THE BEST OF MARKPLEX CORPORATION’S KNOWLEDGE, ALL OF THE INFORMATION ON THIS PAGE IS CORRECT, AND IT IS PROVIDED IN THE HOPE THAT IT WILL BE USEFUL. HOWEVER, MARKPLEX CORPORATION ASSUMES NO LIABILITY FOR ANY DAMAGES, DIRECT OR OTHERWISE, RESULTING FROM THE USE OF THIS INFORMATION AND/OR PROGRAM(S) DESCRIBED, AND NO WARRANTY IS MADE REGARDING ITS ACCURACY OR COMPLETENESS. USE OF THIS INFORMATION AND/OR PROGRAMS DESCRIBED IS AT YOUR OWN RISK.
ANY EASYLANGUAGE OR POWERLANGUAGE TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS (AND PARTS THEREOF) AND ASSOCIATED TECHNIQUES REFERRED TO, INCLUDED IN OR ATTACHED TO THIS TUTORIAL OR PROGRAM DESCRIPTION ARE EXAMPLES ONLY, AND HAVE BEEN INCLUDED SOLELY FOR EDUCATIONAL PURPOSES. MARKPLEX CORPORATION. DOES NOT RECOMMEND THAT YOU USE ANY SUCH TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS (OR ANY PARTS THEREOF) OR TECHNIQUES. THE USE OF ANY SUCH TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS AND TECHNIQUES DOES NOT GUARANTEE THAT YOU WILL MAKE PROFITS, INCREASE PROFITS, OR MINIMIZE LOSSES.
