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Date/Time: Sun, 08 Sep 2024 04:54:27 +0000

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Color bar based on alert condition

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[2024-07-03 22:00:18] #1 [Go To First Post]
User132992 - Posts: 34
Hi SC team, Im doing some back testing looking at the interaction of price and a dynamic band indicator: the band adjusts according to how price moves over the course of the last 50 bars on a chart (i.e. the bands position moves around and is not set until 50 bars have happened after the current bar). Im running into some problems doing some back testing - sometimes the alert condition goes off at the very hard right edge and a 'true' alert condition is triggered. However, as the market proceeds forward in time (and more bars are created) the bands are always moving and some of the alert conditions reverse i.e. some signals from the hard right edge are invalidated and bars that were colored, are no longer. This is giving me some false negative readings in my back testing and skewing results. Is there any way to configure the color bar based on alert condition study so that if the alert is triggered just once (i.e. the color bar is produced) it stays triggered regardless of conditions after the first occurrence of the alert? This way I will be able to see all of the generated signals and get a more accurate picture of if the system has any edge. I appreciate your help, Thanks ND

[2024-07-03 22:08:20] #2 [Go To First Post]
John - SC Support - Posts: 34254
What you are wanting is how the "Color Bar Based on Alert Condition" study works - in general. There are a couple of things to keep in mind. First - on the Inputs for the "Color Bar Based on Alert Condition" study there are Inputs for "Number of Bars to Calculate" and "Automatically Clear from Before 'Number of Bars to Calculate'". If you are calculating on 50 bars and have the option for "Automatically Clear from Before 'Number of Bars to Calculate'" set to "Yes", then as 50 bars pass, the bars prior will remove the color bar effect. Make sure you have these options set to what they need to be for what you are doing. Second - The Sierra Chart studies are set to only update for the new data as it is entered into the system. So if a bar has been "colored" by the "Color Bar Based on Alert Condition", then it will stay colored, unless there is a reason for a full calculation to occur, which, depending on your conditions, could make the colored bar no longer colored. Full calculations typically occur when first opening a chart, adding a study, or starting a replay. But it should not occur when the system is processing data and updating. Third - The Back-Testing is going to be different from real-time, especially if you are using Bar Based Back Testing. Refer to the following: Auto Trade System Back Testing: Differences Between Back Testing and Real-Time Auto Trade System Evaluation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing

[2024-07-06 13:59:32] #3 [Go To First Post]
User132992 - Posts: 34
Thank you very much John, this is helpful. I've spent some time working with the SC spreadsheet system for trading to better orientate myself with the SC backtesting systems. Im coming across a problem where old spreadsheets from other chart books are opening when I try to add a new spreadsheet in a completely different (new) chart book. Its like there is a cache that isn't clearing? I've checked the Sheet view (in the top left window) and the new spreadsheet with the new chartbook subgraph inputs is not appearing anywhere. I've tried deleting and reopening, I've tried closing the spreadsheet and 'deleting the studies', removing the spreadsheet from the Analysis window but nothing seems to be helping. Would really appreciate knowing how to start a new spreadsheet that is tailored to the inputs of a new chartbook. Thanks again ND

[2024-07-08 14:11:54] #4 [Go To First Post]
John - SC Support - Posts: 34254
When you add one of the Spreadsheet studies to a chart, you are also creating a spreadsheet file. That file is defined on the settings page for the study. Refer to the following: Chart Studies: Settings and Inputs Tab >> Spreadsheet Name / DLL File and Function Name When you do this, that spreadsheet name defaults to a specific name depending on the particular spreadsheet study you are using. For instance, the "Spreadsheet Study" has a default name of "DefaultSpreadsheetStudy". Therefore, if you do not change this name, and you save the chartbook, then that "DefaultSpreadsheetStudy" is going to be saved. And if you then add another Spreadsheet study to another chart, then that same spreadsheet will get used. This may, or may not, be a problem, as each chart, by default, uses a specific sheet within the spreadsheet based on the Chart Number. So if you have the same chart number, then the spreadsheet will have information already in it. The point here is that you need to be careful about the name of the spreadsheet file. It sounds like you might want a separate file for each instance of the spreadsheet study you use. Make sure you change this in the settings for the study. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing

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