Building a Study with the Study Wizard

 

Welcome to Building A Study with the Study Wizard

 

Studies are built in the Study Editor.  They can built using either the study tree or the study wizard.  This help will use the study wizard.  Please review "The Structure of a Study" and "How to Build a Formula Subroutine" before building a study. 

 

Opening the Study Editor

 

Click on "Main Menu" ==> "Studies" => "Build/Edit Studies" to open the study editor.

 

 

This will bring up the Study Editor

 

 

The panel of the left lists all the studies in the program in a tree structure.  If you click on the plus sign to the right of the study it will open up to show its structure.  For now we want to click Add new Study.  This will bring up a dialog asking if you want to use the study wizard.

 

 

Click Yes and this will add a new study to the study editor and load the study wizard.

 

 

This wizard will lead you through the process of building a study step by step.  Just click Next for the next window.

 

Study Properties

 

The next window allows you to enter the name and menu information on the study.

 

 

Each window in the wizard describes each item in the study so I wont repeat it here.  For the purposes of this help I am going to make an EMA cross study.  When done click Next.

 

 

Fill in how to chart the study and click Next.

 

 

As you click each type of scaling, it will described in the right hand window. After you have selected the type of scaling to use click Next.

 

 

Click Next to start building the formula and add some inputs.

 

Study Definition - Inputs

 

Next we need to build the formulas for the new study.  You don’t have to have any inputs (you can put values right in the formula) but I want to add an input for each of the EMA lines so I can change their values throughout the program without having to rebuild this study.

 

 

Click "Add Input" to add a new input to the program.

 

 

After filling in this window you will return to the input window.  Click "Add Input" again for the second input.

 

 

This is the same as the first input except I named it Length2 and set the default length to 20. Click next to return to the input window, then click next again.

 

Study Definition - Formulas

 

Next I want to define the formulas for the new study.  See "How To Build a Formula Subroutine" for details on formulas.

 

 

The wizard will only do one subroutine at a time.  When the Formula window comes up we will add the first subroutine for the first EMA.

 

 

The right part of the window lists all the components of a formulas with definitions. See "How to Build a Formula Subroutine".  Click "Test Formula" to make sure it parses correctly and has the correct number of parenthesis, then click next.  This will bring back up the main formula list window.  Add each subroutine you need by clicking "Add Formula" again, then click next.

 

Our definition of the study is done, next we want to define how the study will appear in a chart.

 

Study View Chart Lines

 

 

Click add line to add a chart line and connect it to the formula.

 

 

Name the line, connect it to a formula and click next.

 

 

Choose how you want the line to plot and click Next.

 

 

Choose the color, line type, and transparency of the line and click Next.

 

This will return you to the original Chart Lines windows.  Click "Add Line" a second time and add the second EMA.  When both EMA chart lines have been added click Next.

 

If all we want to do is to plot this study on the chart we are done and can click finish.  But lets open the full power of the study.

 

Study View Fill Areas

 

 

This is purely for decoration on the chart.  A fill allows you to add a color between two chart lines.  We are going to add two fills, one for when the shorter EMA is above the longer EMA and color it green for buy and then another fill for the opposite condition and color it red for a sell. Click "Add Fill" .

 

 

Give it a name and connect the two chart lines to the fill then click Next.

 

 

Setup the display properties of the fill. Here we have a vertical gradient coloring from backcolor2 to backcolor1 and the alpha has been set to 50 to increase the transparency of the fill so it doesn’t overwhelm the chart. Click Next which will bring you back to the Chart Fill window.

 

Add a second fill and make it for when the shorter EMA line goes below the longer EMA line and color it red.  Click next to add study signals.

 

Study View Signals

 

In the final area of the study we are going to define what a buy and sell signal are so we can use the study in the optimizer, prism, color bars, etc..

 

 

In our formulas we have defined a buy condition when the shorter EMA is above the longer EMA and a sell condition for the opposite.

 

 

Click "Add Condition" to get the next window.

 

 

Give the condition a name and connect the formula to it.  Then click Next.

 

 

Click Next to return to the Conditions window, then add the sell condition.  Click Finish.

 

The study is now complete.  Once you know this study is working you can give it to others by right clicking on the study name in the tree and clicking "Copy To Chat".  Anyone who clicks on the study will have it automatically added to their program.

 

Click Save to save the study and exit the study editor.

 

Use of the Study

 

If we right click in a chart we find the new study in the studies menu under the submenu we defined.

 

 

When we choose the study it plots on the chart the way we defined it to.

 

 

We have the two lines, we have the fills between the lines and we have two edit boxes in the chart study title where we can change the EMA values.

 

When we create a prism, the study is in the add column menu and we get.

 

 

Listing the buy and sell signals we defined under signals.