How to add custom indicator?
Author: lyrklaunavan
Creation Date: 11/10/2009 1:38 PM
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lyrklaunavan

#1
Hi,

I just downloaded Wealth-Lab Developer ver. 5.5 demo version and just digging it. I wanted to add a custom indicator to this program but could not succeed.

http://www2.wealth-lab.com/WL5WIKI/(S(yurlnqqasypbvh45hzx2rm45))/ElderSafeStopShort.ashx

From this link, I copy the code, I open a chart and press Ctrl+Shift+S and I paste this code instead of the existing one. Then I press F5 as said in "Wealth-Lab WealthScript Programming Guide" .

It gives an error that "indicators is not in community"
What to do now?

I was using ninjatrader and it was so easy. I could export an indicator and the rest is easy.

Wealtlab is a bit strange. How can I make this indicator work on Wealth-Lab? Please tell me step by step because I am a stranger to programming and correcting programming errors.

Thanks in advance
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Eugene

#2
Hi,

You were pasting the example usage code, not indicator's. It's a so called "formal" indicator, so its code is "hidden" in a dynamically linked library called Community.Indicators. (On the contrast, there are indicators created on-the-fly, directly in Strategy code.)

Once you install the library (click Extensions > Get Extensions > Indicator... on this site) using the Extension Manager, the example will compile w/o errors. Furthermore, Elder Stops will become available for dragging and dropping to your charts and in rule-based strategies which require no programming skills.

Take a look at these tutorial videos:

Designing Rule-based Strategies, Combining different Indicators
Use the Wizard to create a Rule-based Strategy