Stocks & Commodities V. 30:7 (54-55): Product Review eSignal 11.4 by Jayanthi Gopalakrishnan

Product Review eSignal 11.4 by Jayanthi Gopalakrishnan

IN March 2012, eSignal released version 11.4, which includes some notable new features as well as some enhancements. In the previous two parts of this series, I discussed some of the more popular features of eSignal 11 such as charting, designing trading systems, and backtesting. Once you have figured out how to create your trading systems, setups, and strategies, you need an alert system in place. In this, the final part of this series, I will discuss eSignal’s alert system, plus a few other features that traders would find interesting.

ALERTS

One feature I did not mention in the previous two parts is the Alerts feature. Although it isn’t entirely new, it does have some improvements. In version 11.4, you can place alerts on all the built-in studies as well as Advanced GET studies. I just looked at the built-in studies for this review.

There are various options when it comes to setting alerts, and the nice thing is you can create them directly from the charts. You can either have the alerts displayed as a popup, such as what you see in Figure 1, or as an audible alert or get a message via email. Setting them is extremely simple, and they can be set on each indicator or drawing tool you have on your chart. For example, if you have Bollinger Bands overlaid on your price chart and you want to be alerted when prices cross either the upper band or lower band, all you have to do is highlight the indicator, right-click on the chart, and select Edit from the dropdown menu.

The Edit Chart window has two tabs, one of which is for setting alerts (Figure 2). You can select which indicator or tool you want to set the alert on. In the case of the Bollinger Band, you have the option of being alerted when price crosses the upper Bollinger Band, the basis line, or the lower Bollinger Band.