TradeChart

[Gertje]

Thank you Rene for this lightningfast fix. You are the greatest.

Flipping timeframe would have done the same for you....

[wezzley]

Great tool - many many thanks

:hi: :hi: :hi:

[Raj4x]

Quick question:

I noticed the Max Floating Loss and Max Drawdown change dramatically when I change timeframes. I've made some screenshots of the same terminal, no open trades.

[renexxxx]

Hi Raj4x,
In theory, the higher the granularity (i.e the smaller the timeframe), the better is the accuracy. As mentioned in Post 1 of this thread, the drawdown for a historical candle is calculated by figuring out what trades were open during that candle and what was the typical price of the instruments/symbols at that time. Knowing this, and knowing the opening price of these trades and their lot sizes, we can roughly figure what the UPL was for these trades during that candle. If we do this for every 1-Minute candle we would get a better approximation than if we do this for every daily candle. Of course, this assumes that the historical price data is accurate for the timeframes we are interested in.

Hopefully, this explains the differences on the TradeChart display.

[kwchau]

Hi Raj4x,
In theory, the higher the granularity (i.e the smaller the timeframe), the better is the accuracy. As mentioned in Post 1 of this thread, the drawdown for a historical candle is calculated by figuring out what trades were open during that candle and what was the typical price of the instruments/symbols at that time. Knowing this, and knowing the opening price of these trades and their lot sizes, we can roughly figure what the UPL was for these trades during that candle. If we do this for every 1-Minute candle we would get a better approximation than if we do this for every daily candle. Of course, this assumes that the historical price data is accurate for the timeframes we are interested in.

Hopefully, this explains the differences on the TradeChart display.

Hi Renee, thanks so much for your excellent indicator which benefits all of us in this forum.

I have it in every Empty4 instance to keep track of the performance. However, it seems to take up quite a bit of CPU power, is there anyway that the user could lengthen the timeframe so as to reduce the weight on CPU power. For me, I really don't need to look at the TradeChart too frequently.

Thanks again for your generosity to share this very useful indicator.

Cheers,
kwchau

[renexxxx]

However, it seems to take up quite a bit of CPU power, is there anyway that the user could lengthen the timeframe so as to reduce the weight on CPU power. For me, I really don't need to look at the TradeChart too frequently.

Have you downloaded the latest version? Some time ago I uploaded a version that reduced the load on the CPU. Try that first.

[kwchau]

Have you downloaded the latest version? Some time ago I uploaded a version that reduced the load on the CPU. Try that first.

Thanks Rene, frankly I'm not sure about that, I'll try the latest version and see if it helps.

Cheers,
kwchau

[Raj4x]

Thanks, excellent. Your explanation makes perfect sense.

[matfx]

Thanks renexxxx this is a great tool.

[renexxxx]

There is an update (named: TradeChart3) in Post 1 of this thread. The main update relates to the info panel, as I felt it didn't quite provide enough information.

To illustrate, I have been running a strategy that has produced the following TradeChart:

TradeChart1.PNG

In this particular instance, the equity (blue) line is almost consistently above the balance (golden) line. In other words, the Unrealized (floating) Profit/Loss figure is mostly positive. In fact, TradeChart2 (the previous version) calculated that the UPL has not been more negative than -$209 (or 0.6%). This is fantastic news, however, it doesn't tell me how much the equity and balance has suffered during the course of the trading period. This has been improved in the new version (TradeChart3). See below:

TradeChart3.PNG

The Max Equity, Max Balance, Max Profit, Min Equity, Min Balance and Min Profit are largely the same. (Incidentally, in this context Profit is the difference between Equity and Balance).

However, it now also includes the "Maximum Equity Drop" and the "Maximum Balance Drop". These figures represent the largest drop (in the account currency) from Peak to Trough. (For the mathematically inclined: In order to work out these figures for an array with N values, we require (N-1)*(N-2)/2 comparisons).

There is an option called DrawLargestDropLines, that allows you to have these largest drop-lines displayed on the chart.

In addition, there is an "Equity Drop %" and "Balance Drop %" figure, that displays this largest drop as a percentage of the value at the peak.

I believe that these new figures provide a more complete picture of how well or poor a strategy is performing. What is still missing is a figure/chart for the margin used during the course of the trading period. This latter one will be hard to calculate as different brokers have different rules for calculating margin used.

Have fun.