WaveTracker Parameters
Upon startup, WaveTracker will look up the symbol for the
security on your chart and obtain parameters for that security from the
symbol data base at www.tic2tic.com. These parameters include:
1. Time Open -- opening time for the day session (GMT)
2. Time Close -- closing time for the day session (GMT)
3. Time Globex Open -- opening time for the evening session (GMT)
4. Time Globex Close -- closing time for the evening session (GMT)
5. Time Sunday Open -- opening time for the evening session on Sundays (GMT)
6. Tick Size -- specified in decimal (e.g. .25 for S&P EMini, .01 for stocks)
7. Tolerance -- expressed in ticks, is the number of ticks tolerated through an AWE pattern D point before the AWE pattern
is
considered to have failed. For example, we define AWE pattern failure
in the S&P EMini (symbol ES) as two ticks
through
the target D point. Therefore, we tolerate one tick through the taret D point; hence, the tolerance is set to 1.
8. Notation -- the display notation if different from tick size. For most symbols, this is left blank. It is required in cases where
the
symbol displays in one notation and ticks in another. For example, the
symbol TY (10-year notes), ticks in 1/64s but
display
in 32nds. So for TY, tick size = .015625 (1/64), and notation = .03125
(1/32).
9. Wave Specifications
-- Up to 9 wave specifications, where each specification is expressed
as an x-y pair where x = a time frame and y = a wave size.
Valid
values are:
x
= any positive integer (minutes), D (for daily),
W (for weekly), M (for monthly), T (for tick)
y
= any positive integer (ticks)
Examples:
5-12 = for a 5 minute chart the minimum wave size is 12 ticks
W-320 = for a weekly chart the minimum wave size is 320 ticks
355T-6 = for a 355 tick chart the minimum wave size is 6 ticks
System Symbols
We have pre-defined defaults for most
futures symbols traded on the American futures exchanges. You may want
to override some of the pre-defined defaults. For example, if you
want fewer waves on your 5 minute chart then you might increase the
minimum number of ticks required for a wave on the 5 minute chart. You 'override' one of our pre-defined system symbols by simply creating a user symbol that contains your own custom specifications.
User Symbols
Each WaveTracker user may create user symbols that override the defaults for the corresponding system symbols. If a user symbol exists in the data base for a particular user, then WaveTracker will use the user symbol in place of the system symbol. Within MyWaveTracker, there is a link Show User Symbols that will show you all user symbols you may have defined. User symbols should also be defined when you are loading WaveTracker on a symbol that is not defined in the database (no system symbol exists).
Creating your own User Symbol from a System Symbol
1. From the MyWaveTracker page, select Manage Symbols. 2. Select Show System Symbols
3.
Select the symbol you want to create a user symbol for (left click on
the symbol id) 4. Edit the parameters you want to change 5. Click on Create User Symbol
Editing a User Symbol
1. From the MyWaveTracker page, select Manage Symbols. 2. Select Show User Symbols
3.
Select the symbol you want to edit (left click on the symbol id) 4. Edit the parameters you want to change 5. Click on Create User Symbol
You can use the link Delete User Symbol to delete a user symbols that you have defined.
Creating your own User Symbol from scratch
If
you are trading a symbol that is not defined in our database, then
WaveTracker will do its best to estimate the parameters to use for tick
size, tolerance and wave size. You can see these parameters by looking at the formula output window in eSignal as soon as WaveTracker loads (from the eSignal menu bar, select tools\efs\formula output window). We highly recommend that you define your own user symbols for those symbols that you are trading that are not defined in our database. To create a user symbol from scratch, simply:
1. From the MyWaveTracker page, select Manage Symbols. 2. Select Enter Symbol 3. Fill in the parameters for the symbol 4. Click on Create User Symbol
Loading a symbol that does not exist in the database
A symbol does not exist in the database if there does not exist either a system symbol or a user symbol. If you load a symbol that does not exist in the database, then WaveTracker will do its best to estimate the parameters to use for tick size, tolerance and wave size.
Using Edit Studies to set parameters
You can also use the eSignal Edit Studies menu option to define the key parameters for tick size, tolerance, minimum wave size, and session start and end times. To use Edit Studies right click on the chart and select Edit Studies.Then select WaveTracker from the drop down menu list at the top of the Study Properties dialog box. You will then see the Formula parameters you can change, including tick size, tolerance, wave size, and start and end times.
Order of Precedence for Symbol Parameters
From
the above paragraphs, you know that key WaveTracker parameters can come
from:
1.
eSignal Edit Studies
2.
MyWaveTracker User Symbol
3.
MyWaveTracker System Symbol
4.
Assigned by WaveTracker
The
above order is also the order of precedence that WaveTracker uses. Edit Studies takes first precedence. Then, if the user has created one, the MyWaveTracker user symbol. If the user has not created a user symbol, then WaveTracker will use the MyWaveTracker system symbol. If no MyWaveTracker system symbol exists, then WaveTracker will do its best to estimate the parameters to use for tick size, tolerance and wave size.
Where are the parameters coming from?
To verify where WaveTracker is getting the key parameters, you can view their values and origins by looking at the formula output window in eSignal as soon as WaveTracker loads (from the eSignal menu bar, select tools\efs\formula output window). You will then see a display like the following:
Parameters are:
MinWvSz
Tolerance TickSz Open (GMT)
Close (GMT)
-------
--------- ------ ----------
-----------
1.50 (W) 0.25 (W)
0.25 (W) 13:30 (W) 20:15 (W) origins: W=web E=edit studies A=assigned by WaveTracker -End-
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