Smooth indicators using the Wizard?
Author: JohnUSA101
Creation Date: 1/14/2017 2:00 PM
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JohnUSA101

#1
Hi there,

I am a new user. I was wondering if I can smooth indicators (e.g. SMA, RSI, Stochastics, etc.) by using the Wizard (e.g. any rules under Conditions selections) first, and then I can use the smoothed indicators to create a Rule-based Strategy?

Thanks a lot,

John
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Eugene

#2
Hi John,

Welcome to the forum. What you're asking for is possible to some extent. Notice two conditions under "General Indicators" named "Indicator crosses above (below) Smoothed Version". Hope that helps. Otherwise let me know what other condition(s) using smoothed indicator you're looking for.
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JohnUSA101

#3
Hi Eugene,

Thank you very much for your quick reply. I was wondering if I'd like to use the smoothed indicators (e.g. RSI, Stochastics) to crosses above or below overbought/oversold, is it possible to these two conditions or use other conditions in the Wizard?

Thanks a lot and have a great weekend!

John
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Eugene

#4
Surprisingly it's not there yet. Fortunately, it'd be a piece of cake to add these rules to our Community.Rules library and thus make it possible. We use this library to extend Wealth-Lab's built-in set of rules w/o having to re-release the application.

While I'll be working on it please create a support ticket to verify your Fidelity WLP entitlement. Thanks.
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JohnUSA101

#5
Hi Eugene,

I have submitted a ticket. Thanks a lot and have a great weekend!

John
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Eugene

#6
John, our rule library has been updated:

Community.Rules

After downloading and overwriting existing file in the WLP main folder, you will find the requested rules as "Smoothed Indicator crosses above Value" and "Smoothed Indicator crosses below Value". A couple of notes:

1. If WLP is running with a Rule-based window open, close that window (or open a new one) for the changes to pick up.
2. If using both conditions (or multiple), WLP may throw a message box "Please select Indicators for your Rule parameters". Don't worry: it's because one of the conditions is incomplete yet. Set up your remaining rules and it'll disappear.
3. Smoothed indicator isn't plotted. It could be but I decided to not overload the chart. Instead WLP will plot the raw version. Nonetheless, it's the smoothed version that is used in your strategy code.