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Hi, I have been using Sierra for about a year, and I consider myself an advanced user even wrote some studies. BUT I don't understand what I would be able to do with a spreadsheet that I couldn't do with built-in studies or a custom study.
Can you help answer these questions from other members on NexusFi?
I hate spreadsheets. They make me use them at work so I don't use them in Trading. You can track win/loss, expectancy, anything that compares 2 or more things. If you don't need it, I wouldn't feel obligated, but many find them helpful.
Coming, they can't be denied. Going, they can't be detained.
Well, you couldn't do anything with the spreadsheet interface that can't be done as well or better with code.
But not everyone can write code. Simple enough. It's for people who can specify some simple logic for a job they want done, and don't know how to implement it in a custom study. That's basically all.
If you don't need it, don't use it.
Bob.
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Edit: however, from what I have seen, they can be useful for what they are designed to do. I've just never used them.
When one door closes, another opens.
-- Cervantes, Don Quixote
The "spreadsheets" that @anubis is speaking of have nothing to do with regular spreadsheets such as in Excel that lay out numbers and make comparisons. The Sierra Chart "spreadsheets" are abbreviated ways to string together commands to create an indicator or strategy. They should not be called "spreadsheets," to avoid confusion, but they are.
Somehow, Sierra Chart thought the spreadsheet analogy would make them more understandable or welcome to users, I guess.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Sierra's spreadsheet studies allow a user to create indicators, alerts, and autotraders. If you have Excel experience and are not a coder, they provides a powerful alternative.
Spreadsheet studies have some differences from Excel; they are only Excel similar, not Excel compatible.
Not all Excel functions are supported, some have different parameters, and there are some exclusive functions for Sierra Chart only.
There are no graphs, no conditional formatting, no VBA.
When you add one of the three spreadsheet studies to your chart, a spreadsheet will also open. The sheet is not blank, as it has chart data outputs in designated columns and cells. Each row is a chart bar with the current bar in row 3 and earlier bars in rows below.
There is nothing a spreadsheet study can do that a custom ACSIL cannot do. An ACSIL study is more capable and more efficient than a spreadsheet study, so if you are comfortable with coding in ACSIL, you don't need to use a spreadsheet study.
Yes, though as you approach higher frequencies of trading and faster replay/backtests in SC, I wouldn't fully trust its accuracy in formula calculations or referencing for order logic.
Great to hear that you are enjoying Sierra. It sounds more like you have really gotten into using the tool, especially with writing your own studies! Seems like you are looking to explore more functionalities and usage. Even though Sierra is an efficient tool, I guess spreadsheet has its own flexibilities and analysis.
I have used spreadsheet tools, during the early stages of my career path, while working for an industry-leading AI development services company in India. With a spreadsheet, one can visualize and perform calculus operations with the data in a way that may not be available in Sierra's functionalities. For instance, the user can apply complex operations across numerous data points, create custom visuals, and analyze data points from different sources all in one place. It also allows more sophisticated data modelling, which will be useful for advanced analysis and forecasting.
Moreover, spreadsheet helps in tracking data, tracking performance, or even help in creating own models of indicators. Hence, I believe while Sierra offers robust analysis capabilities, spreadsheet offers a more versatile platform for data visualization and analysis.
Regards.
As @bobwest have mentioned above, Sierra's spreadsheets are something different than regular spreadsheets like Excel or Google Sheets. Looks like you might be referring to the latter.
