The TSBookHalfTradescape analysis technique generates a specialty set of tradescapes where the half of the equity under trade is booked when a certain percentage gain is reached. If the specified gain is reached more than once before the trade closes, the halving is repeated for each instance.
In this procedure standard tradescapes are used. The traded entity is signaled directly for the primary entries and exits and symmetric signaling is used, meaning the same information content is used to signal both the upside and downside transitions.
The panel values are preset. The first tradescape in the panel will not implement this book-half money
management. The following panels will do so at these percentage levels:
3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 25, 30, 35, 40, 45, 50
The purpose of this analysis technique is to assess whether or not the native behavior of the traded entity is responsive to this money management strategy. In general, the use of this approach results in less overall return, but there is often an improvement in reward-pain since drawdowns can be appreciably reduced.
int TradedEntity (0)
This input specifies a specific data stream to be analyzed. The value 1 uses data1, 2 uses data2, and so on. This input specifies the one specific data stream to be traded and analyzed. TradedEntity cannot be 0.
String FileName ("")
The data within the TradeStation chart is written to a disk file that is used in a separate procedure to generate the plots and analyses. If FileName is empty, “”, a temporary binary data file is used to store the data and this file is automatically deleted when the window is closed. If a full path filename is specified, a persistent ASCII CSV file is written. A full valid Windows path and filename must be specified. The directory path will be created if it does not currently exist. Since a comma separated value (CSV) file is written, a CSV file extension is recommended. For example, a FileName such as "c:\data\a1.csv" is valid, even if the folder c:\data doesn't yet exist.
int WalkFwd (2520)
This is the count of bars, from last non-reserved bar backward in time, to use for the analysis. In order to accommodate all of the time horizons in a tradescape, do not set this value below 250. If a value is specified that is greater than the amount of data available in the chart, all of the data that is present is used.
int Reserved (0)
This is the count of most recent bars to reserve for any walk-forward you may wish to independently carry out. These data are disregarded in the analysis. A value of 0 processes all data through the most recent bar.
int DoShort (0)
A tradescape is normally a long-side only analysis. This value can be set to 1 to perform short side tradescapes and signal analysis.
int Degap (0)
This option removes all overnight/weekend gaps in data for instances where positions are always closed prior to a trading session's closing bar.
If Degap is 1, a check is made to see if the same day fraction of data is greater than 80%. If this criterion is met, as with hourly or finer bar densities, the gap across days is mathematically removed. The price activity from the prior day's closing bar through the end of the first bar of the next day will be zeroed. This means the two bars will share the same closing values. The adjustment is based on the differential in closing prices and is applied to the open, high, and low values as well.
The adjustment is made backward in time so that the most recent bar's close will be the current price. The removal of gaps moving backward in time can result in negative prices. In such an instance, the lowest low in the de-gapped data will be set to 0.01 and all prices will be shifted accordingly.
int InactiveAtLastBar (1)
When this variable is non-zero, the last bar in the chart will automatically trigger the computation and deactivate the analysis. A progress bar is normally drawn, but if this proves a distraction, it will be omitted if this value is set to 2. If set to 0, the analysis will not take place until the Status is toggled Off in the Format Analysis Techniques option.