Blox are system modules that encapsulate trading ideas. Most of the Blox are self-contained parts of a trading system designed to be connected with other Blox as a component part of a trading system method. Some Blox can access data outside of their module, and outside of their system when their scope settings are set for external access.
The basic components of a trading idea are:
•Parameters: - used by indicators to determine their specific computation result, for example: the number of days in a moving average. Not all Blox require parameters when the numerical basis for internal calculations is coded into the scripted code.
•Indicators: - used by the rules as indicators of market conditions, moving averages, RSI, ADX, etc. Many indicators are available within the Indicator section of a Blox. Those not available in that area can be created by entering the source code required for an indicator calculation result.
•Rules: - used to determine when to enter or exit; how much to buy or sell, or how much risk is too much, buy on moving average crossover, what instruments to allow and other ideas. A rule can be as simple as Buy If RSI > 55 etc.
By encapsulating trading ideas into a stand-alone Blox module, a package is created that can easily be linked to one or more systems that need the trading idea contained within the Blox. Blox are trading objects, and while these objects only need to be created once, they can be many times by other systems to simplify the creation of different system methods.
The simplest system can be created with one or more Blox modules that do at least three things:
1)Enter Orders that define the System Entries.
2)Enter Orders for open positions that define the System Exits.
3)Define the Order Size for Each signal's Entry Order.
Trading Blox Builder will let you define this behavior using one block that performs all three functions, or three separate Blox that each take care of one of a primary functions. You don't need to worry about that right now. Just remember, Blox are like Lego blocks, they were designed to be connected to other Blox to build a trading system.
Edit Time: 5/10/2017 8:15:16 AM
Topic ID#: 648