Trading group 1 Jun 7 2022

status1

Well-known member
I was watching the trading group video from yesterday where Tom was trying to add the ATR to the spreadsheet and I was wondering why was it necessary to make a custom group when the ATR is available to be used in an RTD formula That way you don't need to have that page open with the custom group

I am getting 90.67 as the ATR for today
 

Marcas

Active member
Hi Status, I couldn't make to TG1 and do not know Tom's motives but I can see purpose of his actions.
Of course I can't, and don't want to, speak for Tom.

First reason is to create independent source of info (in this case ATR number) where you know exactly how it is calculated thus is safe from any misbehavior of third party calculations and open to any modifications you wont to introduce - now or later on. You can use such number to plug in to other formulas that guide your trading with higher level of confidence and protects you from any unexpected changes done by third party.

Secundo, it is a coding exercise. It may be a step toward creating something much bigger to aid your trading. This is small step but moves you forward.

Third - completing task like this brings you sort of satisfaction. A - that you can do it yourself, B - that you became bit more independent.

That said, I don't think it is necessary step for every trader to take.
You can be successful without any spreadsheet at al and, in some cases, it's better to spend time on smth else.

It all depends ;)
 

status1

Well-known member
From what I understood Dan was using the ATR as an adjustment signal to add a second debit spread

I was just trying to help out maybe I found an easier way without going through the hassle of using yahoo finance and importing the data from there and than do the calculations from there when you have the ATR directly available in TOS
 

status1

Well-known member
Unfortunately it's not any better it still say loading when the price changes but it does not depend on keeping the marketwatch page open
As long as the price is not updating I can go to the analyze page and it still shows the ATR value but I understand that's not good enough
Yesterday when I tried it it was after the market was closed so that's why I thought it was working
 

Marcas

Active member
Are you saying that TOS has problems? I may check up tomorrow but I'm pretty happy with TOS' platform. It performs well if you know how to handle it but ofc things do happen.

Regarding ATR. My remarks were of general nature not related to any specifics.
I agree that if the only goal is to copy in spreadsheet what is already available somewhere else then it is questionable exercise. Imo to use ATR in trading, some conditions must exist for it to make sense. If you look at market every day then you know what is going on anyway. Daily moves and volatility and others are good alternatives to ATR. Use what you understand.

Anyway, my previous response was more about why bother to code smth in instead of using ready product. It was/is irrelevant if ATR is a good or not so good indicator.
 

status1

Well-known member
Are you saying that TOS has problems?
It's not a TOS problem it's more like an RTD excel issue where for some reason it cannot calculate the ATR value if you don't keep or at least temporarily switch to the Marketwatch Quotes page
I am guessing the issue is it has to get the previous days quotes which I am guessing it's not readily available so it just says "loading"
I found a way to place the value on of the ATR on the Chart so I guess that's some progress
 

tom

Well-known member
Administrator
It's an RTD limitation. ATR is not a field you can import with RTD...at least not one that I found.

Since the ATR only needs to be calculated on EOD I'm using Excel to pull historical web data from Yahoo Finance. I found a nice article with code to calculate ATR: https://www.macroption.com/atr-excel-wilder/

It is for the Boxcar to determine adjustment points for contingent orders :)
 

status1

Well-known member
ATR is not a field you can import with RTD...at least not one that I found.
Well that is exactly what I found which was surprising to me because I also did not think that field was available I exported the data from the quote table that had the ATR column (I added that column instead of making a custom group) so when I looked at the data I saw that the ATR column was exported with the RTD field so this is the formula =RTD("tos.rtd",,"ATR",A4)
A4 is where the SPX is located on the boxcar

Unfortunately as I found out the next day during trading hours that when the ATR updates it has to load again and it cannot load unless the quote page is on but it does not have to stay on I can click on the quote page and than back to the analyze and the atr value is still there on the spreadsheet

Since the ATR needs to be calculated on EOD does it matter if it says loading at other times ?
I was thinking maybe you can add another button to save that value and than you can do the calculation on that
 
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