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Volker:
A bit of a contradiction here:
>TICK UPDATE:
>WL does not update indicators on every tick. It was our conclusion that
>when you test systems you use the closing price for indicators, so you
>should/want to trade with those prices.
and then:
>AUTOMATED TRADING EXECUTION:
>Version 3 will have the automated trading execution with IB and we are
>planning to add other brokers.
If that is the case, then WL would be just as useful (or useless)
for automated intraday trading as TradeStation. You can't have true
automation unless both trading systems and indicators are updated
every tick.
This could be an option set by the user. It's not hard; every on
every tick the system state is restored to the close of the previous
bar, and the subsequent H, L, and current tick value is used to
update the indicator. On the last tick of the bar, the system state
is saved as the new "previous bar" system state.
If I have a system running on 5 minute bars, I will be watching the bars
form in real time (I can do that online on quote.com now), and when
something generates an order mid-bar, I want to place that order NOW,
not 3 minutes from now. That's how intraday trading works.
I have written systems that place a limit order and expect it to be
executed within the same bar. It waits for an intra-bar price to
be reached and then place a limit order to enter the market a bit
beyond that price. This system CAN enter the top or bottom bars of
a market IF it could execute an order intra-bar. If it has to wait
for the next bar to place an order, it's too late.
>GENERAL:
>If the demand is big enough for an indicator that updates every tick
>then we might look into that for our next version or an earlier build.
Well, "update every tick" is something Tradestation has done for
a long time, and many people do use that feature. Tradestation
doesn't do it for strategies that generate signals however. I don't
know if WL separates codes into different types like functions,
indicators, signals, paintbars, etc., but if it does, then signals
as well as indicators need an option to update every tick.
-Alex
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