Program 21 | Turning Point Finder

Markplex Corporation develops TradeStation EasyLanguage programs that you may find useful as both a way of gaining greater EasyLanguage skills (by reading through the program code) and in your technical analysis. These TradeStation programs are downloadable for a fee. Click here for a list of programs and summaries. Gold Pass members are eligible for 20% off program prices when they type in a special discount code (see https://markplex.com/gold-pass-content/ to get the latest code). I also create free EasyLanguage tutorials.

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.

Click here to start a free trial (Note: TradeStation require that you have a brokerage account with them in order to use programs from the Strategy Network).

To go directly to the TradeStation Strategy Network click here.

Markplex Turning Point Finder applied to a 5 minute @YM(D) chart.
Markplex Turning Point Finder applied to a 5 minute @YM(D) chart.

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

This show-me study is available through the TradeStation Strategy Network. I am offering a 5 day free trial so you will be able to evaluate whether the program may be useful for you.  TradeStation require that you have a brokerage account with them in order to use programs from the Strategy Network

Markplex Turning Point Finder applied to a 5 minute @YM(D) chart.
Markplex Turning Point Finder applied to a 5 minute @YM(D) chart.

If you have not yet used the TradeStation Strategy Network, it is simple process to find a program you are interested in and click the free trial button. Subsequently you will be given the option to open a workspace containing the new program applied to a chart. You are not able to see the underlying software code of a program.

To go to the TradeStation Strategy Network to start a FREE trial click here.

Video demonstration of program 21

This show-me study is demonstrated here:

Inputs

The program has two input settings: Condition3Adj Condition34Adj

As their names imply, Condition3Adj affects condition 3 only and Condition34Adj affects both condition 3 and 4.

Condition3Adj should be set to a value between 0 and 100. Condition34Adj may be set to any positive integer values. For the examples shown in this document the inputs are set as follows: Condition3Adj – 85 Condition34Adj – 100

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. Condition1 and Condition2 are not affected by the input values.

To go to the TradeStation Strategy Network to start a FREE trial click here.

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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