Implementing an external symbol filter
Author: lukeallen63
Creation Date: 4/18/2016 8:27 PM
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lukeallen63

#1
Hello,

I know it has been discussed here before but I simply cannot find it. I am trying to attach an index filter to a trading strategy I am using. For example, the system only takes trades when SPY is above a certain SMA. I know it can be done but if you could point me in that direction it would be much appreciated.
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Eugene

#2
Hi,

You're right, there's a bunch of discussions on this matter if you know the right keyword: not "index" which can mean anything but "external symbol" which is specific (I've renamed the thread accordingly). The forum is searchable or you could prepend your Google query (e.g. "external symbol filter" or "external symbol average") with site:wealth-lab.com/Forum/Posts/ for efficient context search. Here's what I've found to save me some typing:

MA of GetExternalSymbol (exact match)
External Symbol with Indicator (another)
Entry condition depending on external symbol's strengh

If you prefer to approach this using Rules then check out the "External symbol" group. Our Community Rules library has a number of additional rules extending it:

Entries on certain days if external symbol is trending
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lukeallen63

#3
Thanks Eugene, much appreciated