Hello,
first of all, I would like to thank you for the help I have received as a new Wealth Lab user in this forum.
I would like to use a bull filter as a prerequisite before applying all further buy criteria. A buy should only be executed under the condition that the weekly closing price of the Nasdaq is greater than its 12-week EMA.
If the weekly closing price of the Nasdaq is below its 12-week EMA, this is considered an exclusion criterion for any buy decision.
I have tried to implement this bull filter in the Strategy Block, but I am not sure if I have done this correctly. I would be glad if someone could have a look at the screenshot and give me a short feedback if the settings are corresonding with what I have intended.
Thank you very much.
Best regards
Timo
first of all, I would like to thank you for the help I have received as a new Wealth Lab user in this forum.
I would like to use a bull filter as a prerequisite before applying all further buy criteria. A buy should only be executed under the condition that the weekly closing price of the Nasdaq is greater than its 12-week EMA.
If the weekly closing price of the Nasdaq is below its 12-week EMA, this is considered an exclusion criterion for any buy decision.
I have tried to implement this bull filter in the Strategy Block, but I am not sure if I have done this correctly. I would be glad if someone could have a look at the screenshot and give me a short feedback if the settings are corresonding with what I have intended.
Thank you very much.
Best regards
Timo
Rename
Re: weekly closing price of the Nasdaq is below its 12-week EMA
If you run your strategy on Weekly bars, then what you have is correct. Just add your specific buy trigger conditions to the Buy at Market block.
Note that an alternative to using the "Indicator Symbol" qualifier is the SymbolInd Transformer indicator.
However, if you're running the strategy on Daily bars, but want to use the filter for weekly IXIC data, then you need to specify the weekly scale using the ScaleInd Transformer indicator. I'd definitely switch to SymbolInd with ScaleInd for that. Here's what that looks like:
If you run your strategy on Weekly bars, then what you have is correct. Just add your specific buy trigger conditions to the Buy at Market block.
Note that an alternative to using the "Indicator Symbol" qualifier is the SymbolInd Transformer indicator.
However, if you're running the strategy on Daily bars, but want to use the filter for weekly IXIC data, then you need to specify the weekly scale using the ScaleInd Transformer indicator. I'd definitely switch to SymbolInd with ScaleInd for that. Here's what that looks like:
Thank you very much Cone for your quick response and for making me see the way of using the ScleInd Transformer Indicator. I really appreciate your guidance!
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