Nov

27

Download PowerTools 10.4 for eSignal

Teresa Lo @ 2:00 PM | | Start a Discussion 

Navigate to the PowerTools FolderPowerTools 10.4 for eSignal was released today. If you are a current subscriber to PowerTools for eSignal and wish to use it immediately, please follow the instructions below.

If you are currently subscribed to PowerTools for eSignal and would like to upgrade to the latest version, please close the eSignal Advanced Charting program.

Point your mouse cursor at the link below, RIGHT CLICK THE LINK and select “Save Target/Link As…” from the menu to save the file to your computer :

Assuming that eSignal Advanced Charting is installed on your C: drive, when the Save As dialog box pops up, double click each folder icon in this sequence: My Computer > C: > Program Files > eSignal > Formulas > Advanced > PowerTools folder.

Click the Save button and the PT-TradingSystem.efs file will be downloaded to
C:\Program Files\eSignal\Formulas\Advanced\PowerTools

The old PT-TradingSystem.efs file will be overwritten by the current one, and you will be using the latest version. All other files in the PowerTools directory should be deleted.

Release Notes

Please check all settings carefully before using as some have been changed in this upgrade. Refer to Technical Specifications if you have any questions.

ONCE PER SESSION: There appears to be a software bug that causes improper initiation of the PowerTools Trading System. Each time eSignal Advanced Charting is launched, open any page (click Page > Open Page) where PT-TradingSystem.efs is applied to a chart. Click Page > Reload Page to recalculate. For the remainder of the session, PT-TradingSystem will function as intended on all other pages.

StopFactor
The StopFactor is now measured in slightly different units. StopFactor = 1 in the old version is approximately StopFactor = 1.5 in this version.

TradeStart/TradeEnd
For intraday trading of any kind, it may be better to use a 24-hour time chart and restrict the hours of operation of the trading system.

OwnCapital
The default has been increased to 50000.

DollarsPerPoint
The default setting of 1 is for stocks. If you are trading futures or currencies, please be sure that DollarsPerPoint is set correctly.

Miscellaneous
For this upgrade, the default TrendFilter = False, and default StopFactor = 1.5. The StopFactor parameter allows you to explore the effects of tightening or loosening stops. If you wish to test the stops with the eSignal back testing tool, my suggestion is to test the range between 1 and 1.5 at 0.1 increments. StopFactor settings under 1 are insufficient. When it comes to directional trading, it is perhaps not possible to tighten the initial stop or trailing stop beyond what volatility dictates.

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