Program 21 | Turning Point Finder

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Program 21 | Turning Point Finder is a TradeStation EasyLanguage ShowMe study designed to find turning points in price action on a chart.

The program works by searching for four distinct chart conditions based on a proprietary combination of the Commodity Channel Index (CCI), stochastics and price momentum. ‘Points’ are drawn on the chart at the specific bar where the conditions become true. Should the condition cease to be true during the formation of a bar, then the ‘point’ is removed.

Points are NOT drawn historically (i.e. the program doesn’t recognize a pivot and then plot it retroactively, hence looking good on a chart but having little practical use). More information may be found in this pdf.

I explain the functionality in more detail in the video, lower down the page.

Video demonstration of program 21

This show-me study is demonstrated here:

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The four conditions are plotted as:

  • Condition1B
  • Condition1T
  • Condition2B
  • Condition2T
  • Condition3B
  • Condition3T
  • Condition4B
  • Condition4T

The ‘B’ refers to bottom points and the ‘T’ refers to top points.

The user has the flexibility to change the appearance of the various conditions by using the Style and the Color tabs within the Format ShowMe window. It is possible to change the colors and styles so that each of the above conditions individually.

For example, you could make Condition1B have a lesser weight than other conditions. Similarly, you could color code conditions in the following dialog.

Inputs

The program has three input settings with default values:

  • Adj12( 300 )
  • Adj3( 85 )
  • Adj34( 100 )
  • Alerts( True )

As their names imply, Adj12 affects both condition 1 and 2, Adj3 affects condition 3 only and Adj34 affects both condition 3 and 4.

  • Adj12 may be set to any positive integer value.
  • Adj3 should be set to a value between 0 and 100.
  • Adj34 may be set to any positive integer value.

Increasing the values will reduce the number of ‘points’ displayed on the chart. It is up to the user to determine which values produce the most acceptable results.

If Alerts is set to true then an alert occurs each time one of the conditions evaluates to true. The user may control how alerts occur using the format ShowMe study dialog. 

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.

Please email any bugs that you may discover to support@markplex.com.

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.

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