Using Indicators

Technical indicators are mathematical calculations based on securities and additional data. You can use indicators for
  • Signal generation in mechanical trading systems
  • Detecting trends in symbol charts
  • Supporting trading decisions
  • Supporting chart analysis
In Tradesignal, indicators are available which were developed based on material from various sources (publications, media or in-house development). For all indicators, additional information on the source, the calculation basis, the interpretation of results and the appliance is offered.

The indicators in Tradesignal are written in Equilla. You can find more information in the Equilla Basics chapters.

Applying Indicators

Applying Indicators to Charts or Indicators

You can apply an indicator to a chart (or an indicator) in various ways.
Detail: Indicator view in the toolbox

Applying from the indicator list in the toolbox:
  1. Open the indicator list in the toolbox by clicking on the Indicators button.
  2. Apply the indicator:
    1. By drag and drop: Click on the indicator, keep the mouse button pressed and drag the indicator into the chart.
    2. By double-click: Double-click on the indicator.
    3. From the context menu: Right-click on the indicator and choose Apply from the context menu.
Applying via the command line in the toolbar:
Detail: Entering a shortcode in the commandline
  1. Enter a shortcode in the command line, for example "BBD".
  2. Select the Add Indicator option in the drop-down menu.

Data Input Selection

Data input selection dialog
If you apply an indicator which uses more than one data input the data input selection dialog (see image) is displayed. It allows you to select either an already existing chart object or to open a new symbol via the symbol lists or symbol search. There also is an option to always display this dialog so you can apply indicators to symbols which are not themselves displayed.

Application Rules

  • The indicator is applied to the active chart or subchart, except when using drag and drop.
  • By default, indicators are applied to the top entry in the chart or subchart legend.
  • When you drag the indicator onto a certain entry in the legend of a chart or subchart (for example another indicator), the indicator is applied to this entry.
  • Whether a subchart is created for an indicator depends on the meta tag "subchart" in the Equilla Code of the indicator (see the chapter Equilla Program Structure and Syntax).
You can see in the legend how to which entry the indicator is applied. It is constructed as Indicator[Var1, Var2...] value {applied to}.

  • Chart: DAX P-IN. [.DAX LAST 1 hour]...
  • Subchart#1: Accelerator [Close, 10, 13] 32.02 {.DAX}
  • Subchart#2: Average True Range [14] 122.44 {Accelerator}

Example: Applying Bollinger Bands to a Chart

Detail: Applying Bollinger Bands to the .NDX
  1. Open the .NDX in a chart and set the time span to "1 Year" (via the "Fixed Data Range" entry).
  2. In the indicator list in the toolbox, search for "Bollinger Bands".
  3. Drag the indicator into the graph. The Bollinger Bands are calculated for the .NDX and enfold the line.

Example: Applying Bollinger Bands to an Indicator

A popular combination is the "Relative Strength Index" (RSI) with added Bollinger Bands. Proceed as follows:
  1. To your chart, apply the "Relative Strength Index" (RSI) indicator as described above. The result is displayed in a subchart.
  2. Select the RSI subchart by clicking into the subchart.
  3. Now apply the "Bollinger Bands" (BBD) indicators to the RSI subchart. The Bollinger Bands are calculated for the RSI and enfold its line.

Applying Indicators to Scanner, Watchlist or Portfolio

You can also apply indicators to symbol tables such as the Scanner, Watchlist or Portfolio.
  • When creating a new Scanner, Watchlist or Portfolio, you can directly add indicators (and strategies).
  • For existing tables, you can add indicators to the selected table by using one of the methods described above. A new column is added for the results.

Example: Scanner with Indicator

The Scanner is intended for screening a high number or securities for certain criteria. For example, create a Relative Strength list for the hundred Nasdaq values by adding the "Relative Strength Levy" (RLS) to the Scanner and starting the scan. The new column is added and displays the RLS for each instrument.

Example: Watchlist with Indicator

The Watchlist is intended for realtime data. For example, drag the Momentum indicator into the table, enter a short trading period and activate the alert function of the indicator. Now Tradesignal issues an alert any time a value in the Watchlist triggers a Momentum signal.

Applying Indicators via the Command Line


All indicators delivered with Tradesignal feature a shortcode. These are part of the original programming in the Equilla code and should not be changed. Via the command line, an indicator can be applied to Charts, Scanners, Watchlists, and Portfolios. This is faster than applying indicators from the toolbox.

The shortcodes can be looked up in the tooltips of indicators in the toolbox. To display a tooltip, move the mouse over the indicator entry.

Equilla Code

Basically, indicators are constructed so that the calculations are done in functions. An Equilla function can be entered in the Equilla Editor as well as the command line. With a bit of practice, it is possible to enter creative combinations without spending much time on programming. You can find the list of available Equilla functions in the toolbox by clicking on Functions. Most names are constructed to make the connections between the indicators and their functions obvious.

Example for Directly Entering an Indicator

To apply an RSI (smoothed by an Exponential Moving Average), proceed as follows:
  1. Open or activate a chart.
  2. Enter the following code in the command line:
and select the option Add formula in the drop-down menu.

You can find more information in the chapter Command Line.

Deleting Indicators

Deleting an Indicator from the Chart

There are two ways to delete an indicator from a chart:
  • The indicator is displayed in the legend at the top left of the chart or subchart. Right-click on the entry to open the context menu and select Delete.
  • Alternatively, select the entry in the legend and press the DEL key.
To delete a complete subchart of an indicator, click on the X button on the top right. Empty subcharts are closed automatically.

Deleting an Indicator from a Scanner, Watchlist or Portfolio

  • To delete an indicator from a table, right-click on the table header and select Add/Remove Columns.
  • Alternatively, click on the Columns button and select Add/Remove Columns from the button menu. You can find more information in the chapters Scanner, Watchlist and Portfolio.

Removing an Indicator from Tradesignal

To delete an indicator from the list in Tradesignal, right-click the indicator in the toolbox and select Delete from the context menu. A warning asks you to confirm the deletion.

Creating a New Indicator

Indicator Wizard - start screen
To create a new indicator, click on the link New Indicator in the Related Tasks area of the toolbox. A Wizard opens, offering two options:
  • Use the Equilla Formula Language to write the indicator - Select this option if you want to write the indicator yourself. You can find more information in the chapter Writing Indicators.
  • Download an existing indicator from Tradesignal Online - Select this option if you want to download a ready-made indicator from the website.

Downloading an Indicator from Tradesignal Online

Indicator Wizard - download list
When you select the second option, the internal web browser opens and the entry "Indikatoren" in the Tradesignal lexicon appears.

Click on an indicator in the list. The entry for this indicator opens. At the bottom of the page, you will find one or more Equilla scripts (if available) and saving options:
  • Quelltext anzeigen (show code) – Displays the Equilla code in the internal web browser. You can select and copy this code and, for example, paste it into the Equilla editor in Tradesignal Standard Edition.
  • Skript in Tradesignal Web Edition importieren (import into Tradesignal Web Edition) – Saves the script in Tradesignal Web Edition. You can then find it in the list of all indicators in the web edition. To save the script in the web edition, you have to be logged into the Tradesignal Online website. In the case of the error message "Not enough space to import the script", you are either not logged in or there is not enough web space left to save the script.
  • Skript in Tradesignal importieren (import into Tradesignal Standard Edition) – Saves the script in Tradesignal Standard Edition. You can create the indicator in an existing package or create a new package.
In the case of a new package, the following procedure is recommended:
  1. Click on the button New package.
  2. Select the main package Tradesignal Files.
  3. Click on New Folder and enter the name "Personal Indicators".
  4. Confirm all settings by clicking on the OK buttons.

Editing the Equilla Code of an Indicator

  • To edit the source code of an indicator, right-click the indicator in the chart legend and select Edit Equilla Code from the context menu.
  • Alternatively, right-click the indicator in the toolbox and select Edit from the context menu.
The source code is opened in the Equilla Editor.

You can find more information in the Equilla chapters.

Indicator Properties

Detail: Bollinger Bands Properties
The indicator properties are available either from the context menu in the chart or the property inspector in the toolbox. Select the indicator from the list of elements at the top to open the properties.

Each indicator offers various parameters like display units, period, weighting factors, multipliers etc. Often, values for additional scale units like oversold or overbought levels are available. Enter all necessary parameters.

For each element in an indicator (i.e. the indicator or its signal lines, graphic symbols or extrema), display properties can be entered such as line widths, colors or shadows.

For some Tradesignal indicators it is possible to set an alert, which will be created as soon as a defined condition is met, e.g. for SMA (when the Moving Average Simple crosses the main data curve). Alerts will be displayed as a flashing icon in the system tray and as a popup window by default. Furthermore, you can find information about all alerts generated by an indicator in the alert window on the chart alerts tab.

Changing the Evaluation Order of Indicators and Strategies

In some circumstances, indicators and strategies must be evaluated in a specific order. Normally this is taken care of by Tradesignal, however there are cases where it is not possible to automatically determine which item should go first. For example if multiple indicators use the same Global Variables. By default, indicators and strategies are evaluated in the order they are added to the chart, watchlist, scanner or portfolio. To change this order
  1. Click on Home > Chart > Manage Objects on the toolbar to show the Manage Strategies and Indicators dialog.
  2. Click on the item in the list that needs to be evaluated differently.
  3. Click on the Move Up or Move Down buttons to reposition the item. Items closer to the top are evaluated earlier.
  4. Click OK to commit the changes.