Trade Simulation using Woody on TVIX
Posted: Mon Mar 12, 2012 7:12 pm
I have been getting a lot of questions about running a trade simulation using the Woody for TVIX indicator. For example 'buy when Woody <=0'.
Here's how you can do that:
First of all, there is a built in indicator called 'Woody' that has a calculation line named 'BxBW'. When that indicator is added to a chart it will calculate %B x Bandwidth and plot it for the currently selected chart symbol:
But the trick is to get an entry or exit signal generated for any symbol when this indicator is <=0 for the TVIX. To fix a script to the TVIX rather than changing based on chart symbol, the following script can be used:
And here it is added to a chart:
Note that this is still an indicator but it is showing the calculation for TVIX.
Note also that TVIX must be in the currently chosen symbol list for this to work.
To turn this into a scan for when the value <= 0, you can use the following:
Which produces the following signals:
Once the scan has been created it can be used in trade simulation by adding it to the entries and exits.
Here's how you can do that:
First of all, there is a built in indicator called 'Woody' that has a calculation line named 'BxBW'. When that indicator is added to a chart it will calculate %B x Bandwidth and plot it for the currently selected chart symbol:
- %BxBW for currently selected symbol (AAPL)
- BxBW_AAPL.png (23.76 KiB) Viewed 15578 times
Code: Select all
MyCalc: FML('TVIX', 'Woody[BxBW]');- %B x BW for TVIX added to the chart
- woody_tvix.png (28.91 KiB) Viewed 15578 times
Note also that TVIX must be in the currently chosen symbol list for this to work.
To turn this into a scan for when the value <= 0, you can use the following:
Code: Select all
MyCalc:= FML('TVIX', 'Woody[BxBW]');
event: MyCalc <= 0;- Signals when %B x BW for TVIX <= 0
- woody_tvix_scan.png (28.69 KiB) Viewed 15578 times