off topic: "text" data in EOD

[kh_model]

Hello,

Recently I noticed that there is an excellent video available by Steve Griffiths in the "members area" that demonstrates how "text" data files can be exported from Tradestation and subsequently opened as charts within MT Predictor EOD.

The video link is titled "How to use the MTPTSData .eld (optional) to get TS8 data into MTPredictor EOD". I assume that I am not authorized to post a link to that video, but I would like to discuss it briefly below:

As Steve pointed out in the video, it should be possible to achieve "near real-time" analysis of charts using the "advanced features" in MT Predictor EOD on intraday data.

Since it appears that the video was made prior to the release of MT Predictor EOD version 5, I would be very grateful if someone would please answer the following two questions:

1. Assuming that chart data has first been manually imported from a "text" file as shown in the video, do MT Predictor EOD charts now "automatically" refresh as Tradestation writes new bars to the "text" file? I ask because Steve claimed that such a feature was under development in the video, and there has been a subsequent new release of the software. In the video Steve had to manually refresh the chart but I am hoping that it is no longer necessary to do so.

2. Given that the EOD scanner appears to have just two settings for chart intervals, i.e. "Daily" and "Weekly", is it nevertheless possible to use the scanner on a collection of "text" files that contain minute or tick data such as "5 minute" bars or "233 tick" bars and then successfully draw those charts with the correct analysis displayed in MT Predictor EOD?

I understand that "MT Predictor RT standalone" may be better suited to doing realtime intraday analysis than "MT Predictor EOD", but because certain analysis tools are still only available within "MT Predictor EOD" there is still a good reason to consider using it on intraday data. Not to mention that being able to reuse the data already collected by Tradestation without purchasing an additional realtime datafeed is a plus, especially when that data can now be accessed over a network by another computer.

Thanks in advance to anyone who has taken the time to read this post. I hope that it will be helpful to others.

[Steve Griffiths]

Hi KH,

Thanks for the question.

No, MTP EOD cannot automatically refresh the ASCII data, you have to re-load the data to see any new bars. This is because MTP EOD is an EOD progarm, all the RT analysis and RT scanning can be done from the eld's in TS8 itslef.

Thanks

Steve

[CapTech]

Hey KH,

I had this very same discussion with Steve awhile back because I too quoted him on the video saying that a pseudo realtime option for MTP5Eod was in the works. HE said afterwards that maybe a clock implementation could be devised which would refresh the TS8 created data on a time interval. I would really appreciate that option being available since all the advanced tools and measures are only available in the EOD product and the overhead of manually loading of several symbols and their time intervals is not productive during the trading day. Understand though that only the active displayed chart in MTPEod will be updated if a timed update function is available. I now use DT5 for doing my intraday wave measures and wpt locates.......Jim

[mcdirt]

A timed auto-update of some sort would be useful for those getting their Forex data from MetaQuotes or Genesis as well (ie those not using TradeStation or eSignal). You can have multiple EOD charts open by opening extra instances of the MTP program. Don't know of there is any technical reason not to do this but I have 3 instances open right now all with different charts.

rgds McDirt

[kh_model]

I really appreciate all of the insightful answers that have appeared here in a very short time. Thanks to everyone who posted today!

So, hasn't anyone tried to use the EOD scanner on a bunch of "text" files that contain say, "3 minute" data instead of "daily" or "weekly" data?

I was thinking that it should not be too difficult to get a bunch of "text" files to update on the hard drive, and after that one could simply use "task automation" software to periodically launch the EOD scanner in MT Predictor in order to decide if any signals were present in those "text" files.

Further, I expected that once a buy or sell setup has been detected by the scanner, one could then quickly call up a chart. It seemed to me like it would be a simple and economical alternative to using radar screen in tradestation...

[stevej]

So, hasn't anyone tried to use the EOD scanner on a bunch of "text" files that contain say, "3 minute" data instead of "daily" or "weekly" data?


Why not try it yourself and let us know the answer?

SJ

[Steve Griffiths]

Hi Guys,

From the developer:

1. Yes you can Scan a number of intraday files that are all updating from eSignal or TS8. However, while possible this is a very inefficient use of your time, much better to just let the efs's and eld's alert you to potential trades in true real-time.

2. Yes, we will be adding in a new set-up - a TS4 which is the Advanced ABC in the EOD program, as such all the automatic set-ups that you could require will be in eSignal or TS8, so no need to scan or use the EOD program in a pseudo real-time mode.

3. As far as automatic updating of real-time charts in the EOD program. Yes, we did look into this, in fact the code is actually in the program to do this, but during testing this proved to be too unreliable and caused too many issues - for example using too many PC resources, as such we removed the ability to do this.

As such, the EOD program is just that - for EOD analysis, and for RT you should use eSignal or TS8. Having said that, you can perform additional manual analysis on RT charts (which is only required rarely and only by a few advanced traders) in the EOD program but this does not require the charts to be continually updated in true real-time.

I hope this helps ?

Steve Griffiths

[kh_model]

As a prospective customer, I am absolutely delighted to hear that the "Advanced ABC" module, aka proposed "T4" setup, will be folded into "MT Predictor RT" in the near future. Thank you Steve Griffiths for continuing to push the limits of "MT Predictor"!

I do hope to eventually acquire the skills of an "advanced user", and for that reason I believe that it is important to identify patterns in the "standalone" program simply as a training exercise. It seems that trying to do this in Tradestation might be more difficult, since one has less control over the drawing tools.

But my ultimate goal is to be a winning intraday trader, so I also want a tool that conserves both my time and computational resources when the market is live.

In conclusion, it seems to me that both "MT Predictor EOD" and "MT Predictor RT" are potentially very complimentary to each other from an "educational" standpoint, while "MT Predictor RT" is clearly the ultimate "trading" tool for intraday timeframes.