Traders' Tip text
No coding is required for the "Weekly & Daily Stochastics" as this indicator is built in. To match author's settings you should take the
StochD indicator with the following parameters:
period = 70, smooth = 3. It's a pleasure to show our users how to make an idea like this work with very little learning curve.
Despite trading rules haven't been provided in the article, it's not really necessary since all best practices for Slow Stochastic (
StochK and
StochD) apply here. Wealth-Lab's "Strategy From Rules" allows to create a trading Strategy from flexible building blocks known as Rules in few easy steps:
Step 1. To start, either choose "New Strategy from Rules" or strike Ctrl-Shift-R.
Step 2. Drag and drop an entry condition like "Buy at market".
Step 3. Then swich to Conditions tab, expand the "Stochastics" group, and pick a condition. In the Parameters box, set "StochD Period" to 70 and "StochD Smoothing" to 3.
By simply combining and reordering them one can come up with pretty elaborate strategies.
Figure 1 illustrates the easiness – the process can take less than a minute and free you up from writing the code.
CodeNoneEugene (Gene Geren)
Wealth-Lab team
www.wealth-lab.com