Wells Wilder “New Concepts in Technical Trading Systems”

Wells Wilder “New Concepts in Technical Trading Systems”

Now get the TradeStation EasyLanguage code to the classic trading system book by Wells Wilder “New Concepts in Technical Trading Systems” as originally published in 1978. Back test these ideas in TradeStation. Code is compatible with all versions of TradeStation.

Wells Wilder was 10 years ahead of his time. He created analysis tools that are the industry standard back before computers were ubiquitous. His inventions include RSI, ADX, DMI, the Parabolic and much more. His book “New Concepts in Technical Trading Systems” is filled with trading ideas. He developed his ideas into trading systems that are brilliant, original and some of the most difficult to program of any I have examined.

His Parabolic system includes a twist that requires the parabolic to maintain its distance from the price action. He does this by combining it with the highest high or lowest low of the last N bars. This helps stabilize the parabolic and avoids many unnecessary whipsaws. The Trend Balance Point system takes short trades based on the acceleration and deceleration of the market. The Reaction Trend is the first system I have seen that combines both trend following trades with reaction trades in one system in order to take advantage of both trending and congested markets. Here is a complete listing of what you get.

STRATEGIES
Wilder DMICross Uses DMI+ and DMI- to control trades
Wilder:TrendBalPoint Entries are based on acceleration and deceleration
Wilder:ReactionTrend Use when ADXR drops below 25
Wilder:SwingIndex Often detects swing points one bar early
Wilder:TrendBalPoint Use when ADXR drops below 25
Wilder:Volatility Volatility trend following system

INDICATORS
Wilder:ADX The original ADX and ADXR
Wilder:AMMA Average Modified Moving Average
Wilder:CSI Commodity Selection Index
Wilder:MI The original DMI+ and DMI-
Wilder: Parabolic The original Parabolic SAR methodology
Wilder: PricePoints Buy and Sell targets for tomorrow
Wilder:SwingIndex Use this to determine the trend
Wilder:RSI The original RSI computation
Wilder:RSI 2 RSI of Data2
Wilder:VolatilityIdx Volatility Index

USER FUNCTIONS
WilderADX The original ADX formula
WilderAMMA Average Modified Moving Average
WilderASA Accumulative Swing Index
WilderDIMinus The original DMI- formula
WilderDIPlus The original DMI+ formula
WilderRSI The original RSI formula
WilderRSI_Data2 The original RSI formula for data 2
WilderVolatilityIdx Volatility Index formula