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Chart Tools

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ChartTools is an indispensable collection of custom-designed indicators for use in TradeStation 7.1. Use these indicators to greatly simplify and automate virtually all of your charting efforts. Below is a description of that each indicator does and how to use it.

Stan Fib MD 71 (use on 5-min & 30-min charts)

Draws a set of retracements from a specified date and time to the last bar on the chart, and automatically updates upon the close of the last bar on the chart.

With this tool you can.

Ø      Start retracements from any date and time

Ø      Select which fib retracements to draw

Ø      Set the color and thickness of retracement lines and text

Ø      Automatically remove retracements as they are "taken out"

Ø      Round the retracement values to the nearest ¼ point, which is particularly useful when trading the e-mini

Input Information

Name

Expression

Default

Description

FirstDate

Numeric

0

Date to begin drawing retracement from. Date must be in the format of YYYMMDD. For example, November 23, 2002 would be entered as 1021123

Note: Setting FirstDate to zero (0) causes the indicator to draw retracements on the current day.

TL_Color

Numeric

Blue

Color of retracement lines and values

BarOffst

Numeric

5

Number of bars to the left of the last bar on the chart to display the retracement value

AutoHide

True/False

True

True = hide each retracement line once price has penetrated the line;

False = do not hide the retracement lines.

Note: This is very useful to remove retracements as price movement invalidates them.

AutoHideAmount

Numeric

.05

Number specifying how far price must penetrate a retracement before it is hidden.

For example, if a retracement line is showing a value of 800 and the AutoHideAmount is set to .05, then the line will automatically be hidden when price penetrates the line by 40 points (0.05 x 800).

Note: AutoHide input must be set to True for this to have effect.

StartTime

Numeric

0

Time (in 24hr format) to begin drawing the retracement.

0 = start at the beginning of the day; any other time starts at that time.

Show40

True/False

True

True = show the 40% retracement. False = do not show the 40% retracement.

Show50

True/False

False

True = show the 50% retracement. False = do not show the 50% retracement.

Show60(

True/False

True

True = show the 60% retracement. False = do not show the 60% retracement.

Show80

True/False

True

True = show the 80% retracement. False = do not show the 80% retracement.

ShowDate

True/False

True

True = show the starting date. False = do not show the starting date.

ShowTime

True/False

True

True = show the start time. False = do not show the start timet.

RoundTo25

True/False

False

True = round the retracement to the nearest 0.25 point.

False = do not round the retracement to the nearest 0.25 point.

Note this is particularly useful if you are trading the S&P E-mini contract.

TL_Size

Numeric

0

Sets the thickness of the retracement lines. 0 = thinnest.


Stan Fib YD 71 (use on 1-min & 5-min charts)

Draws a set of retracements from the highest high to the lowest low of yesterday and today, and automatically updates upon the close of the last bar on the chart.

With this tool you can.

Ø      Set the starting time for retracements

Ø      Select which fib retracements to draw

Ø      Set the color and thickness of retracement lines and text

Ø      Automatically remove retracements as they are "taken out"

Ø      Round the retracement values to the nearest ¼ point, which is particularly useful when trading the e-mini

Input Information

Name

Expression

Default

Description

TL_Color

Numeric

Blue

Color of retracement lines and values

BarOffst

Numeric

5

Number of bars to the left of the last bar on the chart to display the retracement value

AutoHide

True/False

True

True = hide each retracement line once price has penetrated the line;

False = do not hide the retracement lines.

Note: This is very useful to remove retracements as price movement invalidates them.

AutoHideAmount

Numeric

.05

Number specifying how far price must penetrate a retracement before it is hidden.

For example, if a retracement line is showing a value of 800 and the AutoHideAmount is set to .05, then the line will automatically be hidden when price penetrates the line by 40 points (0.05 x 800).

Note: AutoHide input must be set to True for this to have effect.

StartTime

Numeric

0

Time (in 24hr format) to begin drawing the retracement.

0 = start at the beginning of the day; any other time starts at that time.

Show40

True/False

True

True = show the 40% retracement. False = do not show the 40% retracement.

Show50

True/False

False

True = show the 50% retracement. False = do not show the 50% retracement.

Show60(

True/False

True

True = show the 60% retracement. False = do not show the 60% retracement.

Show80

True/False

True

True = show the 80% retracement. False = do not show the 80% retracement.

ShowDate

True/False

True

True = show the starting date. False = do not show the starting date.

ShowTime

True/False

True

True = show the start time. False = do not show the start timet.

RoundTo25

True/False

False

True = round the retracement to the nearest 0.25 point.

False = do not round the retracement to the nearest 0.25 point.

Note this is particularly useful if you are trading the S&P E-mini contract.

TL_Size

Numeric

0

Sets the thickness of the retracement lines. 0 = thinnest.


Stan CROSS with AVG 71 (use on 1-min, 5-min & 30-min charts)

Draws Stan's CROSSOVER and the Crossover Average as one indicator.

With this tool you can.

Ø      Set the Overbought and Oversold levels

Ø      Automatically calculate and draw the correct moving average, which completely eliminates the effect of compressing the chart data

Ø      Set color and line style for all components

Special Note:

For this indicator to display properly, it must be placed into it's own Subgraph.

Input Information

Name

Expression

Default

Description

OverBought

Numeric

90

Number where the indicator is overbought.

OverSold

Numeric

10

Number where the indicator is oversold.


Stan ABC 71 (use on 5-min & 30-min charts)

Calculates and draws multiple Stan ABC targets.

With this tool you can.

Ø      Automatically calculate and display up to three sets of ABC targets.

Ø      "Force" the screen scaling to display target lines and values

Ø      Calculate all seven major targets from the 0.382 to the 2.620

Ø      Display the exact value of each target

Ø      Set the on-screen location of target values to avoid overlap and screen clutter.

Special Note:

For this indicator to display reliably, it must be the only indicator on the chart.

How to Use

The following instructions assume that the market is moving downward as in the screen shot above. For an upward moving market, simply reverse the instructions.

Ø      Use the TradeStation text tool to place the letter "A" above the bar where you wish to begin the calculation. Place the letter "B" below the low bar in the calculation. Finally, place the letter "C" above the final up bar in the calculation.

Ø      For a second set of targets, simply use "A1", "B1" and "C1"

Ø      For a third set of targets, simply use "A2", "B2" and "C2"

Ø      Right-click anywhere on the chart and select "format indicators" from the drop-down menu.

Ø      Toggle the status of Stan ABC 71 off and then back on again.

Special Note:                       

This indicator does not update automatically. Therefore, each time you wish to calculate a new set of ABC targets, you must toggle the status of the indicator off and then on again.

Input Information

Name

Expression

Default

Description

BarOffst

Numeric

10

Number of bars to the left of the last bar on the chart to display the ABC value

Force_T#2

True/False

True

True = force the screen scaling to show the T#2 value.

False = do not force the screen scaling to show the T#2 value.

Force_T#3

True/False

False

True = force the screen scaling to show the T#3 value.

False = do not force the screen scaling to show the T#3 value.

L382

True/False

False

True = display the 0.382 ABC value. False = do not display the 0.382 ABC value.

L500

True/False

False

True = display the 0.500 ABC value. False = do not display the 0.500 ABC value.

L618

True/False

False

True = display the 0.618 ABC value. False = do not display the 0.618ABC value.

Note: This is the T#1 value.

L786

True/False

False

True = display the 0.786 ABC value. False = do not display the 0.786 ABC value.

L1000

True/False

True

True = display the 1.000 ABC value. False = do not display the 1.000 ABC value.

Note: This is the T#2 value.

L1618

True/False

True

True = display the 1.618 ABC value. False = do not display the 1.618 ABC value.

Note: This is the T#3 value.

L2620

True/False

False

True = display the 2.620 ABC value. False = do not display the 2.620 ABC value.


Stan UNI High 71 (use on 30-min charts only)

Draws as many as four of the upper UNI channels.

With this tool you can.

Ø      Draw as many as four of the upper UNI channels.

Ø      Draw the mid-UNI

Ø      Change the "length" of the UNI calculation for use on the 5-min, 30-min and any other chart compression of your choosing.

Ø      Set the color and line style of each of the four UNI channel lines

Input Information

Name

Expression

Default

Description

Length

Numeric

45

Number of bars over which the UNI channel averages are calculated.

U1

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

U2

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

U3

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

U4

Numeric

1.4

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.


Stan UNI Low 71 (use on 30-min charts only)

Draws as many as four of the lower UNI channels.

With this tool you can.

Ø      Draw as many as four of the lower UNI channels.

Ø      Draw the mid-UNI

Ø      Change the "length" of the UNI calculation for use on the 5-min, 30-min and any other chart compression of your choosing.

Ø      Set the color and line style of each of the four UNI channel lines

 

Input Information

Name

Expression

Default

Description

Length

Numeric

45

Number of bars over which the UNI channel averages are calculated.

L1

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

L2

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

L3

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

L4

Numeric

1.4

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.


Stan ABC 71 (use on 5-min & 30-min charts)

Calculates and draws multiple Stan ABC targets.

With this tool you can.

Ø      Automatically calculate and display up to three sets of ABC targets.

Ø      "Force" the screen scaling to display target lines and values

Ø      Calculate all seven major targets from the 0.382 to the 2.620

Ø      Display the exact value of each target

Ø      Set the on-screen location of target values to avoid overlap and screen clutter.

Special Note:

For this indicator to display reliably, it must be the only indicator on the chart.

How to Use

The following instructions assume that the market is moving downward as in the screen shot above. For an upward moving market, simply reverse the instructions.

Ø      Use the TradeStation text tool to place the letter "A" above the bar where you wish to begin the calculation. Place the letter "B" below the low bar in the calculation. Finally, place the letter "C" above the final up bar in the calculation.

Ø      For a second set of targets, simply use "A1", "B1" and "C1"

Ø      For a third set of targets, simply use "A2", "B2" and "C2"

Ø      Right-click anywhere on the chart and select "format indicators" from the drop-down menu.

Ø      Toggle the status of Stan ABC 71 off and then back on again.

Special Note:

This indicator does not update automatically. Therefore, each time you wish to calculate a new set of ABC targets, you must toggle the status of the indicator off and then on again.

Input Information

Name

Expression

Default

Description

BarOffst

Numeric

10

Number of bars to the left of the last bar on the chart to display the ABC value

Force_T#2

True/False

True

True = force the screen scaling to show the T#2 value.

False = do not force the screen scaling to show the T#2 value.

Force_T#3

True/False

False

True = force the screen scaling to show the T#3 value.

False = do not force the screen scaling to show the T#3 value.

L382

True/False

False

True = display the 0.382 ABC value. False = do not display the 0.382 ABC value.

L500

True/False

False

True = display the 0.500 ABC value. False = do not display the 0.500 ABC value.

L618

True/False

False

True = display the 0.618 ABC value. False = do not display the 0.618ABC value.

Note: This is the T#1 value.

L786

True/False

False

True = display the 0.786 ABC value. False = do not display the 0.786 ABC value.

L1000

True/False

True

True = display the 1.000 ABC value. False = do not display the 1.000 ABC value.

Note: This is the T#2 value.

L1618

True/False

True

True = display the 1.618 ABC value. False = do not display the 1.618 ABC value.

Note: This is the T#3 value.

L2620

True/False

False

True = display the 2.620 ABC value. False = do not display the 2.620 ABC value.


Stan UNI High 71 (use on 30-min charts only)

Draws as many as four of the upper UNI channels.

With this tool you can.

Ø      Draw as many as four of the upper UNI channels.

Ø      Draw the mid-UNI

Ø      Change the "length" of the UNI calculation for use on the 5-min, 30-min and any other chart compression of your choosing.

Ø      Set the color and line style of each of the four UNI channel lines

Input Information

Name

Expression

Default

Description

Length

Numeric

45

Number of bars over which the UNI channel averages are calculated.

U1

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

U2

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

U3

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

U4

Numeric

1.4

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.


Stan UNI Low 71 (use on 30-min charts only)

Draws as many as four of the lower UNI channels.

With this tool you can.

Ø      Draw as many as four of the lower UNI channels.

Ø      Draw the mid-UNI

Ø      Change the "length" of the UNI calculation for use on the 5-min, 30-min and any other chart compression of your choosing.

Ø      Set the color and line style of each of the four UNI channel lines

 

Input Information

Name

Expression

Default

Description

Length

Numeric

45

Number of bars over which the UNI channel averages are calculated.

L1

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

L2

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

L3

Numeric

0

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

L4

Numeric

1.4

Fib number of the UNI channel to draw.

0 = mid-UNI;

Any other number draws a line displaced above the mid-UNI by that percentage.

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