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At its simplest,
RadarScreen enables you to display quotes on hundreds of symbols in tabular format. At its
most complex, it is a full-featured utility that allows you to identify the current hot
stocks by scanning, ranking, and setting alerts on hundreds of symbols on an end-of-day
and real-time basis.
RadarScreen enables you to:
- Track the same symbol with multiple data compressions side by
side in the same window. Each row of RadarScreen can monitor a symbol at any data
compression as well as plot either the trade, bid, or ask record.
- Scan an unlimited number of markets for potential
opportunities – you can apply custom indicators to any symbol and they will calculate
based on historical and the latest data. You can then enable alerts on any of the column
headings or indicators that you apply, so you're notified instantly of a trading
opportunity by means of an Alert Notification dialog box or even via pager or e-mail.
- Sort based on any column heading, including custom indicators.
- Track your open position and obtain a running tally of your
profit/loss.
In addition, RadarScreen provides
sophisticated sorting tools, countless formatting tools, and the ability to quickly create
a chart, view news, place a trade, and more based on any of the symbols you're tracking.
RadarScreen works equally well for intra-day
users and end-of-day users. Traditionally, quotes only worked for real-time data users,
but now even end-of-day users can track quotes, build and apply indicators, and set alerts
that will help notify them of potential trading opportunities.
Types of Data
Supported by RadarScreen
RadarScreen uses data stored in the
GlobalServer. The GlobalServer supports several types of data. This means you can import
data right into your GlobalServer and use this data with your TradeStation
Technologies, Inc (formerly Omega Research, Inc) product. The
supported data formats are:
| GlobalServer 2000i |
Omega Research Server 4.0 |
| HISTORYBANK.COM Financial Database |
Dial Data Downloader |
| ASCII |
CompuTrack |
| CSI (Unfair
Advantage) |
Bridge Final Market |
| MetaStock |
Dial Data Downloader |
| Dial Data CD |
TeleChart |
| Tick Data, Inc |
AIQ |
Working
with RadarScreen
Accessed from your Desktop, each
RadarScreen window can be composed of one to eight pages. A single page can track up to
5,000 symbols, but there is a limitation of 5,000 total quotes per RadarScreen window. For
example, your RadarScreen window can consist of two pages with 2,500 symbols each, three
pages with 2,000 symbols each, etc.
RadarScreen works like any other window in
your Desktop, so you can move it, arrange it, print it, resize it, as well as save along
with your workspace. See Working with Windows for information on working with windows and
workspaces.
Using RadarScreen
Columns
In RadarScreen, each column heading is really
an indicator. An indicator may be as simple as showing the latest quote or the change in
price for the day, or it might be as complex as showing a moving average crossover.
Because each column is an indicator, you can set alerts on any cell within that column, on
multiple cells within the column or on the entire column, so that you are notified
instantly whenever market conditions meet the criteria specified in your indicator.
You can apply almost any existing indicator
to the symbols in the RadarScreen window and view the indicator values next to the price
information. Using EasyLanguage, you can also create custom indicators, which means you
can display virtually any information in the RadarScreen window.
Each row in a RadarScreen window contains a
symbol. The difference between a chart and RadarScreen is that instead of showing
unlimited bars of data, RadarScreen only displays the most recent bar's values. However,
when calculating indicators, RadarScreen requests price history from the GlobalServer,
even though you won't see the history in the window.
IMPORTANT The
calculations are done using the minimum number of bars required, so indicator values in
RadarScreen can be slightly different than the same indicator in a chart window. This true
when the indicator accumulates values, such as the Accumulation Distribution indicator, or
uses regression calculations.
Several indicators have been designed
specifically for RadarScreen, such as the position tracking indicators. To use these
indicators, you input how many shares you control, indicate whether you are long or short
in the position, and provide your average cost per share. Once you enter this information,
the position tracking indicators do the work for you by tracking your profit/loss (P/L)
and reporting on a continually updating basis right in your RadarScreen window. You can
also put an alert on your P/L cell so that you can be notified when your P/L reaches a
certain level.
Applying indicators to RadarScreen is made
easy with the Indicator Chooser. This utility allows you to choose indicators from a list
and drag them directly onto RadarScreen page.
Understanding
Scanning and Alerts in RadarScreen
You can set alerts for a single cell, a group
of cells within a column, or for an entire column. There are two different kinds of
indicators, those where the criteria is user-definable and those where it is not.
Some indicators were written specifically for
grid-based applications such as RadarScreen such as the Total Volume Indicator. These
indicators enable you to define the alert criteria. In this example, the Total Volume
Indicator displays the total volume for the day, and allows you to enable an alert such
that you are notified when the volume exceeds a certain number, any number you specify.
The level is user-definable. See Formatting an Indicator's Inputs in RadarScreen for
instructions on editing alert criteria.
Other indicators are for use not only in
grid-based applications, but also price charts, for example, the Moving Average 2 Lines
Indicator. These indicators have built-in alert criteria that you cannot modify. In this
case, an alert is triggered when the fast and slow moving averages cross. There is no way
to redefine the alert criteria, you either enable the alert or not.
When an alert is enabled and market
conditions trigger the alert, an Alert Notification dialog box appears, informing you of
the alert condition. You can specify exactly how you want to be notified; for example, you
can also be notified by means of a call to your pager or message to your e-mail address.
All the alerts triggered in RadarScreen as
well as any alerts triggered in any of the other TradeStation
Technologies windows are sent to the
Tracking Center, which provides detailed information on the symbol and alert conditions.
In the RadarScreen window, alerts are
displayed as small triangles along the right edge of a cell. When the triangle is in the
top right corner of the cell, it indicates that an alert has been enabled for that cell.
When the triangle is in the middle along the right edge, it indicates that the alert has
been triggered on the current tick of data. When the triangle is in the bottom right
corner of the cell, it indicates that the alert was triggered by a previous data tick. You
can change the colour of the triangles for each of these three conditions.
In addition, when an alert is enabled, and
you place your cursor over the cell containing the alert, a ToolTip appears, listing the
inputs for the indicator.
Understanding
Ranking and Sorting in RadarScreen
To rank symbols, you will be sorting based on
a desired column heading. Because you can add any indicator to the window as a column as
well as create your own custom indicators to add to the page, this means you can scan and
rank your symbols based on virtually any criteria.
To rank your symbols:
- Insert the desired indicator.
- Format the indicators as desired, for example, you can change
the number of bars used to calculate a moving average, or change the price used in a
calculation.
- Enable the alert on the indicator, so that you are notified
the moment market action meets the criteria specified.
- Sort the columns based on the desired heading (you can use
blank rows between groups of symbols to subsort these groups)
For example, if you want to find the stocks
with the biggest percentage gain for the current session, you would add the Percent Change
indicator to a page and sort based on this column.
RadarScreen
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