Good alternatives to esignal

Hi,
looking at the API manual, section 5, your program would not be able to send broker orders, they have to be initiated within esignal by the look of it - the way I'd work that (guessing, as I don't auto trade like this) is perform a simple 'send to esignal' command from my program, which will change the symbol esignal is currently acting on to the one my program has selected. (My charting program, for example, includes a couple of ways to send the symbol it is working on to esignal - as soon as you do that then the esignal chart window will update and display the symbol you picked in your own program).

Having changed the 'default' symbol in esignal to whatever I picked, I'd then have to hit the function key(s) described in the esignal trading help section to send the order to the broker. I don't know if you can autotrade on esignal.... never tried it... the impression I get is you have to press a function key to get the bid/ask etc up, type number of shares in, and press to trade.

$2500 is only required if you intend to sell it or hand it out to others - it's that $195 + 20/month bit, which gains you the ActiveX entitlement, that does it... if you pay that for yourself, then you can send a copy to anyone you like, but they can't run it unless they also have the ActiveX entitlement on their account. Anyone who DOES have that can run the code provided you write a bit in your program to endure it uses their username when logging onto the servers.

As most people won't have that ActiveX entitlement they won't be able to run your program, because when they run it the servers won't accept them as an ActiveX qualified user - the program will just sit and wait for authorisation, which won't arrive. (Unless you leave your own username in there, in which case every time anyone runs your program 'duplicate account' errors will kick all but one of you off).

By paying the $2500 you get a deal whereby esignal will look over your code and, provided it doesn't hit the servers too hard or cause problems, they'll send you back an authorisation code to include in your program - this code is then sent (instead of your username) to the server when the program logs in. The server recognises the code and responds to data calls etc from then on. Users running this program will not need to have ActiveX enabled or anything, ie all esignal users will be able to run it. You also get a lower rate data account, which saves a good few dollars... it won't get you discount pricing on things like Advanced GET etc but it does make adding exchanges and price feeds on somewhat inexpensive.

Dave
 
Hi Dave

I've just found out a bit about what ActiveX is - http://www.esignal.com/esignal/features/activex/default.asp


It says "This kit allows users to develop their own mini-applications quickly and easily using any programmed language and the eSignal Desktop Application Programming Interface (API)."

Do you know if i could the ActiveX interface be used to use my existing easy language strategies with real-time esignal package? This would save the trouble of having to learn esingal formula script (EFS).

Many thanks

jtrader.
 
Hi jtrader

You can't use Easy Language with E-Signal. The EFS scripting language is the E-signal alternative to Easy Language. The Active X SDK allows developers to access E-signal data in their own programs, using C++/Delphi/VB/.NET etc. If you want to write indicators / systems a la Easy Language then it has to be EFS if using E-signal. And from what I've seen of the EL and EFS code in the Ehlers book rewriting EL in EFS would not be trivial, but it would certainly be possible !

Cheers

Stew
 
Dave,

are you able to give us some indication of the type of cost savings you can get on the data side if you have paid up for the commericial SDK ? Also, I presume the Active X SDK means that the E-Signal desktop program must always be running while you care connected to them - i.e. the Active X API connects to the desktop program which then makes requests to the e-signal servers ?

And is it possible having developed some code round e-signal to then pay the fee and have the code assessed for suitability or do you have to make this call up front ?

Cheers

Stew
 
Hi,
as outlined above, EasyLanguage won't do it - to use the API you are really looking at writing your code in Visual Basic (6, or Net) or C++.
Rewriting EL in EFS is a matter of translating from one language to another, in part, but also having to code up any routines that are perhaps built into EL but not into EFS... as an example, in Metastock I can write a routine that says "macd(close,12,E)-mov(close,26,E) and I'm done, in EFS I might have to cobble some calls to MA routines in, then do a bit of a calculaton... having said that there are a number of ready supplied EFS code routines that can be called on, so I suspect the difficult part of it would be actually working out what the EL code snippet is doing, and finding appropriate calls to existing EFS routines to do the same in esignal.

The API requires you to invest money, and a fair amount of time - if you can already write VB or C++ code then the learning curve isn't very steep at all, you can hack the demo routine up and have something on the go pretty quickly.... Of course you then have to display it somehow, I've been writing a charting program so that wasn't 'extra work' for me, but if you invent a new indicator or setup findng algorithm you're better off in the EFS I think - you can output signals as graphics on the existing chart (usually people go for up and down pointing arrows, that sort of thing) above/below the bars/candles, or you can make esignal open an extra pane and plot the output there as coloured bars, strips, or an indicator setup similar to RSI, Stochastics, and so forth.

Price of feed? I've emailed to check how much info they mind me giving out on that one - given the price of a premier account, once you add a few exchanges, 500 symbols and so on to it you've probably about doubleds the cost of the actual sub, with the special rate you'll pay a bit under the premier sub... ie it's a shade under half price. If they reply and say it's okay I'll break it down a bit more but you're saving on the program (ie advanced charting) and data costs, whereas you still pay all the exchange fees and so on... that tends to save you most if you are looking at stock prices, you'd still pay quite a lot for Forex and so on. I've added Nasdaq Level 2, for example, for the same $20/month or so that all other users pay.

There's no reason I can see to do it all up front - I found guidance on this (and a few other things) a bit sparse, I'd paid long before I realised I could have just paid the $195 fee, and the 20/month, and developed it all first. That way you could have a go at programming an app, run it yourself, maybe let other ActiveX users trial it, and if it looked a good idea you could THEN pay them to okay it. The only problem there is they might then say 'no', but as long as your program is okay I can't see that happening - you'd pay full whack for the datafeed etc though, I'd estimate I've recouped about $1500 by having a cheaper feed...

Dave
 
What about forex signals providers?
I trade forex only and i think prosignals has nothing to do with currencies
Does anyone know something to help me trading forex with less risk
Thanks
 
Tabasco said:
What about forex signals providers?

I have the ProRealTime indices and currencies package, which is about £30 per month and seems to me to have everything that eSignal had. Nothing to lose with their week's free trial?
 
Hi DaveJB

do you know how the Metastock programming language compares to EL and EFS in terms of ease of use, versatility etc.?

Which is Metastocks language most like - EL or EFS?


Cheers

jtrader.
 
It's 6 of 1, half a dozen of the other here. Personally, from what I can see of the code (I've been looking at a variety of TAS&C items and their associated code routines for different programs) there's nothing to choose between them - although EL has ready made routines to call up (as does Metastock) the truth is that you are still going to have to learn what is effectively a programming language to use them.
The more built in the routine the quicker you'd expect to figure it out, but the simpler languages tend to have less functions etc to actually remember... in the end I don't think I've yet to find a language (trading or 'normal' computer language) that was particularly easier than all the rest to get to grips with.

Dave
 
If you are looking for forex signals service. Try Fxmaster.net
I'mreceiving their signals on my mobile and it makes forex trading easier and with less stress because i don't need to spend whole day watching charts. I just receive SMS signals and log in my forex account to enter the trade.
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pickle

jtrader said:
This brings me back to my original question - are there any alternatives to esignal and tradestation that offer the ability to custom build and implement strategies in real-time?

Also, if you are aware, how they compare to esignal and tradesation for reliability and technical support.

What about Metastock for example? does it fit the bill?

Many thanks

jtrader.
Look at using eSignal datafeed with TradeGuider Real Time (or EOD, if you wish). Then listen to, or read, Tom Williams who stresses the use of Volume, Price, and Spread. Pay less attention to Technical Analysis tools. The more I watch, the more I realise that Tom is right.
 
Pickle - are you using tradeguider now?

Would be interested to hear if there are any others out there. I shall be attending the seminar this evening.

Chris
 
purplekiwi said:
Pickle - are you using tradeguider now?

Would be interested to hear if there are any others out there. I shall be attending the seminar this evening.

Chris
Sorry to be so late in replying; I've been away for a few days. Yes, I am using TradeGuider now and still feel the same about it. I am also trying Advanced GET from ESignal but find TG much more useful (and less cluttered). How did you find the seminar?
 
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