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I am very good with Sierra Charts and I have an extensive programming background. I would like to create a thread about Sierra Charts developing versus advanced configuration pros and cons. I am looking for individuals interested in exchanging ideas and discussing topics and options.
For example
Is it better to create your own trading study or use the out of the box trade using alerts with gnarly/hacky configurations?
Can you help answer these questions from other members on NexusFi?
Here's what I have found out thus far via reading and youtube
Here are 2 out of the box solutions (studies) I have looked at (there are more)
Trading Systems Based on Alert Condition
SpreadsheetSystem for Trading
Using Alerts you utilize basic alert syntax formulas to initiate a buy or sell order.
Spreadsheets work similarly and provide greater flexibility. For example, with a spreadsheet you can can flatten orders based on logic conditions you configure, say for example if n number of bars pass and move has not occurred, flatten.
Alert trading utilizes Attached Orders you configure in the Chart Trade Window which opens the door for various bracketed trades, trailing, chasing, etc..
I am still trying to wrap my head around the Spreadsheet order approach, but basically you create a formula in the respective buy, buy stop, short, short stop columns (row 3 is the current row) and it it equates to true (non 0) the trade is initiated.
Both approaches use SC Alert formula/syntax. It is very similar to Excel macros for example C is for close C[-1] is close of previous bar and all formulas begin with for example =c > c[-1]
One can also utilize the studies colorbarbasedonalertcondtion and colorbackgroundbaseonalertcondtion to test out the formula, but you need to be cognizant of real time evaluation and historic evaluation (LASTTRADE versus CLOSE) There are other studies to aid in visually seeing the output of a formula.
All in all both that I am working with are extremely powerful. The learning curve, as with most SC features, is high.
And if that still not enough, one can always resort to writing ACSIL (C++) to roll your own study using SC APIs you manages trades which is what I wanted to avoid.
The Trading System Based on Alert Condition study uses Alert syntax, e.g. =C > C[-1]
The Spreadsheet System for Trading study uses Sierra's spreadsheet syntax, e.g. =E3>E4 or ID0.SG4@3>ID0.SG4@4
also changes in CROSSFROMABOVE and CROSSFROMBELOW seems spreadsheet version really wants 3 points for them to work good where as the Alert conditions was with with one value.
this video helped a lot a big mike video from long ago
I was able to get my spread sheet issuing placing buy/sell orders using chart attached orders. now, Next is to fine tune stops and targets
I am coming from TradingView and Ninja Trader and I might want to change to Sierra Charts, but I need some help. First of all, Sierra is a bit more complicated and, secondly, I would like to have my indicators converted. Can you help? I would pay you through PayPal.
If that's not for you... do you possibly know someone who would be interested?
There are a number of great videos on you tube to learn the basics of Sierra. After getting the basics understood, learn how to apply studies to charts. Studies are their Indicators.
One of the best things about Sierra is almost all studies/indicators are already available. Furthermore knowing how to implement their out of the box studies, you can combine them together to build your own study. Depending the complexity of your studies, it is very likely the non-programming approach of combining their studies will meet your needs.
For example is is extremely easy to create an up arrow to appear on the screen when a faster moving average crosses up and over a slower moving average.
There are also a number of great you tube videos on this aspect of their studies, referred to as the Alert conditions. It is very much like using excel.
