Creating a strategy

To create a strategy using the strategy builder

1. Click Tools > Strategy
   The tools menu is displayed.

   

2. Select the option “Builder”

3. Click on Condition Builder

5. The condition builder window is displayed
   Condition builder lets the user set the required conditions based on respective studies that will ultimately be built into the required strategy
   
   
    

6. Below is an example wherein a strategy is created based on the Moving Average.
   
   The user wants to display a “BUY” message based on a bullish condition being met (as identified and set by the user) and a “SELL” message upon a bearish condition being met (as identified and set by the user) with respect to the Moving Average.
   
   To set a condition select the ‘Study Type’ and corresponding event for that study based on which the condition is to be set
   
   The user selects ‘Moving Average’ and sets a condition to identify a bullish trend when the short term moving average (Period X) crossovers the long term moving average (Period Y).

   

   Consequently, the user selects the respective parameters for the selected event to set the bullish or “BUY” condition. The same process is repeated and respective parameters selected to set the bearish or “SELL” condition. It includes specifying the follows in the condition builder window
    

   Parameter	Description
   Event	Crossover / Crossunder of Moving Averages or when OHLC price Crossover / Crossunder a Moving Average. In the example, user selects the event ‘X Crossover Y by Z%’ to compare moving average for two different periods viz. short-term(X) and long term (Y)
   Data Frequency	The frequency of data based on which the moving average is to be computed and output to be generated whether intraday or daily.  In the example, user has selected a 5 minute period.
   Open in Bar	The option provides the output confirming to the strategy based on the opening of the next candle as per set data frequency
   Real Time	The option provides the output confirming to the strategy in real time
   Moving Average	The type of moving average to be considered whether Simple, Weighted or Exponential In the example, user opts for the Simple Moving Average
   Input	The price parameter based on which the Moving Average should be computed viz. Open, High, Low or Close In the example, user opts to compute the Moving Average based on Close price
   Period	The period for which the respective moving average needs to be computed. In the example, the user has considered the two moving averages ‘X’ for a period  5 (short-term) and ‘Y’ for a period 15 (long-term) respectively A period of 5 denotes, ‘X’ moving average to be computed on the close price of latest five candles formed on a 5-minute period basis and  ‘Y’ moving average to be computed on the close price of latest 15 candles formed on a 5-minute period basis.
   Add	Click  ‘Add’  to add the set condition
   Modify	Select an existing condition and click ‘Modify’ to modify the same
   Delete	Select a condition and click ‘Delete’ to delete the same
   Clear	To reset the condition builder click  ‘Clear’ to re-start working on a new condition

Once the first condition is set, click ‘Add’ to add the condition in the builder. By following the above mentioned steps, the user has created the first condition indicating a bullish trend.

Repeat the same process and create a condition indicating a bearish trend. In the example, second condition is created wherein short-term moving average cross-under the long term moving average

The conditions required by the user are now set and can be utilized to effectively build into the strategy



Once the conditions are set, click the tab for ‘Strategy Builder’ present in the header of the same window to build a strategy based on the set conditions.

Select the required conditions and click ‘Add’ to add the conditions for consideration in the strategy to be built

The added conditions ‘C1’ and ‘C2’ above are seen on the right side of the screen and are now available to be considered in the strategy

Note:- that you may also combine two or more conditions with ‘AND’/’OR’ relation. Once added the same will be assigned with an expression name. This is mentioned in the section discussing application of multiple conditions and strategies.

The user has successfully created and added two conditions, one indicating a bullish trend (C1) to generate a “BUY” message and another indicating a bearish trend (C2) to generate a “SELL” message.

To display the customized message click on the respective expression for which the message to be displayed upon the condition being met is to be set. In this case it is expression C1 for which the ‘BUY’ message needs to be set

Note -

Step1: - To set the customized message ‘BUY’ click on expression C1 which is now seen along with the message (condition) being displayed in the editable box at the top of the screen.

Step2: - Select the message text box and type ‘BUY MOVING AVERAGE’ followed with selection of preferred color in which the ‘BUY’ message should be displayed.

The user selects the Green color and clicks modify to save the customized message ‘BUY MOVING AVERAGE’ to be displayed in Green color when the condition corresponding to expression C1 is met.



Repeat the process to set a customized message ‘SELL MOVING AVERAGE’ when the bearish condition set as expression C2 is met. The same is displayed in red as per the selected color

Click modify to save the customized message ‘SELL MOVING AVERAGE’ to be displayed in Red color when the condition corresponding to expression C2 is met



Provide an appropriate name for the strategy and click ‘Save’

The strategy is now saved as ‘Moving Average’ consisting of a ‘BUY’ and ‘SELL” condition



The saved strategy is displayed in the strategy builder as ‘Moving Average’