How to Create a Condition for an Indicator Crossing a Specific Value
Plotted indicators can be used to create a variety of conditions (behaviors). This example uses Stochastics, but the same concept can be applied to any technical or fundamental indicator.
1. Plot the indicator you would like use in the condition
2. Click on the label for the indicator
Click Create Condition in the drop down menu.
3. Click on the condition field to get a drop down menu
4. Select Crossing up value from the list
5. Set your desired value in the value field
6. Select the point at which the condition should occur
The true field will let you set parameters for when or how often the condition returned true.
- Now = Condition is true for current bar
- x bars ago = Condition was true specified number of bars ago
- within last x bars = Condition was true at least once within the specified period of bars
- x bars in a row = Condition has been true for the last specified number of bars
7. Apply the condition
Select from the Apply To menu the way you want to apply the condition set
- Scan Results (Scan in a new window)
- Scan Plot (historical scan plot)
- Scan Plot Summary (summary of scan results over time)
- Sort Column (sortable column in new WatchList)
- Item in Layout (apply to chart or WatchList in current layout)
- Buy (place a stock or option buy conditional order based on the conditions)
- Sell (place a stock or option sell conditional order based on the conditions)
- Copy to Clipboard (copy conditions to computer clipboard for reuse)
For instructions to Save Conditions to the library click here.