Background - before I start constructing the "WTT Strategy"
There have been posts made previously about "setoption" & changing a "chart style" on-the-run, so I'll reference those posts with the hyperlinks.
Amibroker SetOption template by Bruce Robinson
https://www.aussiestockforums.com/posts/1077208/
This is a modified version of Bruce Robinson's template as some settings are only accessible via "setoption" & not listed in the (AA) settings. It's recommended to control settings using an (AFL) rather than the "Settings dialogue" whenever possible. (the reason for uploading the template) "Setoption" forms the start of the construction process.
How to change from a Candle Chart to a Bar Chart on the fly
https://www.aussiestockforums.com/posts/1077220/
Amibroker's standard "Price Chart" is a "Candle Chart" where I prefer to have a "Bar Chart" (personal preference) I have uploaded a "Price Chart" (AFL) that allows changing from a Candle Chart to a Bar Chart on the fly.
How to change the user-definable parameter (this is important)
I use the parameter feature extensively in all my trading strategies. Meaning, every parameter & "important setting" can be changed without changing the strategy code. To test an idea, change the parameter you wish & run a backtest to see if it makes a difference. Once finished you can "reset" the parameter back to the original parameter setting of the strategy code by hitting the [Reset All] at the bottom of the dialogue box or alternatively it will reset once the strategy is closed.
User-definable parameter, which will be accessible via Parameters dialogue box
1. When you are on a chart: "right-click" over chart pane & select "Parameters". The chart below is the format for displaying the "WTT Strategy" which paints an easy to read graphic (a) the buys & sells signals, (b) the white arrow is the signal bar (c) the white square is the buy bar (d) is the entry price of the pre-auction & (e) the Index Filter ribbon at the bottom (Green = On, Red = Off)
2. Exploration Analysis
The Parameter icon is a small [slider Box] icon on the menu bar. How to change the parameters?, "left-click" on the parameter icon, a list will appear so you can alter (a) the bet size (b) The Strategy Breakout Period or (c) change the chart style. I've decided to have a portfolio size of $100k with 20 positions = $5k initial bet size (as shown in the parameter dialogue box below). The parameter setting allows you to adjust your bet size on the fly. Changing your bet size is done by changing the "Trading Funds" dollar size. The strategy will automatically re-calculate the new number of shares to buy.
3. The "Exploration Analysis" window (Set the "Range" to 1 recent bar for buy & sell positions)
The "WTT Strategy" has been designed to trade the signals of the "Exploration Analysis" as they appear. The results are self-explanatory & easy to follow. You just need to buy the positions in the order displayed. As an example, if you need to buy 3 positions you buy the top three. If you are holding a position that is displayed "as a sell" in the "Exploration Analysis" results, sell all the shares that you hold at the "Sell Offer price" in the pre-auction. If you don't hold that sell position, no action is required.
4. Backtesting
I have coded the strategy so it can be backtested. The results below are from a backtest of the strategy I will construct. The Portfolio size is $100k with $5k bets (but as explained the bet size can be adjusted through the parameter dialogue box) The Backtest period is from "1st January 2019 to end of trade yesterday". Why did I use that period? Because it's an average of how the strategy would have performed that included the recent "good & bad" periods of trading.
The "WTT Strategy" being constructed is the Henry Ford model "T" when it comes to cars
The model "T" & the "WTT Strategy" has many similarities as both are practical & affordable for the common man of the time (Model "T" = then, the "WTT Strategy = now). Both the model "T" & the "WTT Strategy" are low cost, durable, versatile & easy to use. I can guarantee you "it's no Tesla" but it will get the job done till you get more experience driving either one. The "WTT Strategy" that I'm going to construct is "bare-bones" & basic in nature that bears no relationship to the original strategy coding. I went to great lengths to construct & code my version of the "WTT Strategy" to align with actual results posted by forum members "who own the genuine original WTT Strategy" using those results as a baseline.
Skate.