With Signal Evaluator, you can create specific buy and sell signals to analyze for effectiveness over a particular time period as applied to both portfolios and individual commodities.
Considerable attention is paid to exits. It is, however, important to realize that no matter how good exits are, a poorly placed entry is detrimental to a successful system.
Signal Evaluator is a valuable step in system development, allowing you to expose entry point opportunities by calculating, for example, the P/L bar-by-bar for each entry point of interest.
One of the benefits of using Signal Evaluator is that creating a full-fledged trade system for analysis is unnecessary.
Another benefit is the visual representation Signal Evaluator provides. Data is presented not only in grids that can be exported to Excel but also in graphs and charts.
The basic Signal Evaluator workflow is straightforward: Choose the conditions and user values you want to analyze, set evaluation parameters, start the scan, and then view and filter the results. Optionally, you can export the data to Excel and open a corresponding chart for any row in the Detail grid.
To open Signal Evaluator, click the SigEval button on the toolbar. If the button is not displayed, then click the More button, and then click Signal Evaluator.
Note that analysis of portfolios requires an enablement.
59.Setting Evaluation Parameters
Before using Signal Evaluator, you should create the conditions and user values to use in the evaluation.
We are using:
We will apply these conditions both to individual commodities EP and CLE and to a small sample portfolio of symbols.
Select the Buy at and Sell at signal conditions from the drop down menus.
Select the price/user condition from the drop down menus.
To create a new condition: click the button to open the Specify Long Entry Signal window, then click the Define Condition button.
To create a new use value: click the button to open the Specify Long Entry Value window, then click Define User Value.