Wednesday, May 20, 2009

Free Thinkscript code for breakpointtrades.com Mechanical Systems

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

http://breakpointtrades.com

Here is a sample of their daily update:
http://breakpointtrades.com/controls/preview.php?la_id=686

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);
upper.SetDefaultColor(Color.RED);
plot lower = ExpAverage(data = price[-displace], length = EMALength2);
lower.SetDefaultColor(Color.BLUE);
AddCloud(upper,lower);


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)

breakpointtrades.com 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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