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Precision Entry Identifier

 Precision Entry Identifier:

The yellow line identifies the trend, while the oscillator shows overbought/oversold conditions and the dots on the chart reveal a potential entry price when the conditions are met.  NOTE: The dots are plotted on the OPEN on the bar on which they appear.

This amazing set of indicators is designed to look for pullbacks/dips within a trend, in order to identify entry prices for both long and short trades, and comes with adjustable input parameters for customization to be used on any symbol or chart (time-based, tick charts, range charts, etc).


Precision Entry Identifier Automated Strategy Addon

You can now automate the Precision Entry Identifier signals with this new addon strategy.

This addon strategy is an optional component which can be used with the "Precision Entry Identifier" indicator set (above) to automate its usage.

Entry points are plotted in realtime on the OPEN of the bar on which they appear.  One can either enter at market on the open of the bar as soon as the signal appears OR with a limit order at the price level that the entry signal itself appears at. You set the profit target and stoploss dollar amounts with the adjustable inputs parameters. Additionally all inputs that are in the indicator set are included with the addon strategy and can be optimized on any symbol and any time frame including time-based charts, tick charts, range charts, etc.

Please note that although it can be optimized on any symbol and chart this addon is meant to be used in conjuntion with the "Precision Entry Identifier" indicator set and should not be considered a 'set it and forget it' stand alone automated strategy. The user decides how the next trade will be handled and can set the parameters and take that next trade in full automation.  This can greatly help the trader stick to their trading plan for both entry and exit of each trade.

 



Precision Entry Identifier Automated Strategy Addon:

You can now automate the Precision Entry Identifier signals with this new addon strategy!

Created to be used with the Precision Entry Identifier indicator and showme set to maximize your trading. This addon offers the automation of the long/short ENTRIES based on this indicator. Depending on how inputs are set allows one to either enter at market on the open of the bar with the signal OR limit at the price of the cyan/red showme dot. You set the profittarget and stoploss dollar amounts with the inputs and/or add any one of tradestation's built-in exits, including percent or dollar trailing exits, key reversal, or any other built-in or custom exit strategies. Please note that this addon is to be used for the long and short entries ONLY and should not be considered a 'set it and forget it' stand alone automated strategy.

The inputs, in addition to those included in the indicator, are as follows:

MarketOrders (True/False) Set to “true” if you wish the strategy to enter on the open of the bar with the cyan/red dot. “false” if you wish to use limit orders. The limit order will be placed at the price of the cyan/red dot.

Reverse (True/False) determines if the trade will be allowed to reverse position on a signal that is opposite a currently open position.

MaxTargetLong (250);
MaxStopLong (250);
MaxTargetShort (250);
MaxStopShort (250);

(These are the profit target and stop loss settings. They may be set to an unrealistically high number if you wish to disable them and use other exit strategies that are built into Tradestation).



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