Wednesday, May 20, 2009

Free Thinkscript code for Mechanical Systems

Here is a good source of quality information on charting, and mechanical systems.

Here is a sample of their daily update:

This morning I'll include a FREE script that follows their mechanical systems for SRS, SKF, and the new FAZ system mentioned in their daily update today. I'll add Chris' clouds to it as I know you guys like the pretty clouds.

Here is what we have:

And finally the code:

declare upper;
input price = close;
input displace = 0;

input EMALength1 = 9;
input EMALength2 = 39;

plot upper = ExpAverage(data = price[-displace], length = EMALength1);
plot lower = ExpAverage(data = price[-displace], length = EMALength2);

Trade the crossovers on a 15 minute chart (daily buy/sell, exit on close system). In the link above at about the 9:05 minute mark in the audio you can hear all about it.
SRS - 9/39 EMA
SKF - 29/86 EMA (so change EMALength1 to 29, EMALength2 to 86 on a 5 min chart) has a free trial period so sign up and see if you like it.

A little music to start you trading day.
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