Wells Wilder “New Concepts in Technical Trading Systems”
Now get the TradeStation EasyLanguage code to the classic trading system book by Wells Wilder “New Concepts in Technical Trading Systems” as originally published in 1978. Back test these ideas in TradeStation. Code is compatible with all versions of TradeStation.
Wells Wilder was 10 years ahead of his time. He created analysis tools that are the industry standard back before computers were ubiquitous. His inventions include RSI, ADX, DMI, the Parabolic and much more. His book “New Concepts in Technical Trading Systems” is filled with trading ideas. He developed his ideas into trading systems that are brilliant, original and some of the most difficult to program of any I have examined.
His Parabolic system includes a twist that requires the parabolic to maintain its distance from the price action. He does this by combining it with the highest high or lowest low of the last N bars. This helps stabilize the parabolic and avoids many unnecessary whipsaws. The Trend Balance Point system takes short trades based on the acceleration and deceleration of the market. The Reaction Trend is the first system I have seen that combines both trend following trades with reaction trades in one system in order to take advantage of both trending and congested markets. Here is a complete listing of what you get.
|Wilder:DMICross||Uses DMI+ and DMI- to control trades|
|Wilder:TrendBalPoint||Entries are based on acceleration and deceleration|
|Wilder:ReactionTrend||Use when ADXR drops below 25|
|Wilder:SwingIndex||Often detects swing points one bar early|
|Wilder:TrendBalPoint||Use when ADXR drops below 25|
|Wilder:Volatility||Volatility trend following system|
|Wilder:ADX||The original ADX and ADXR|
|Wilder:AMMA||Average Modified Moving Average|
|Wilder:CSI||Commodity Selection Index|
|Wilder:DMI||The original DMI+ and DMI-|
|Wilder:Parabolic||The original Parabolic SAR methodology|
|Wilder:PricePoints||Buy and Sell targets for tomorrow|
|Wilder:SwingIndex||Use this to determine the trend|
|Wilder:RSI||The original RSI computation|
|Wilder:RSI 2||RSI of Data2|
|WilderADX||The original ADX formula|
|WilderAMMA||Average Modified Moving Average|
|WilderASA||Accumulative Swing Index|
|WilderDIMinus||The original DMI- formula|
|WilderDIPlus||The original DMI+ formula|
|WilderRSI||The original RSI formula|
|WilderRSI_Data2||The original RSI formula for data 2|
|WilderVolatilityIdx||Volatility Index formula|
In order to protect the interests of the authors, we cannot provide a detailed explanation of the rules of any these systems. For that you will need to buy their book and we urge you to do so. Some of the systems work with intraday data and others use daily data
You get 6 systems, 10 indicators and 8 user functions.