• : February 26, 2021
  • : Definedge Team

We are happy to introduce the following features in the TradePoint platform.

P&F: Tool to plot Mini-top and Mini-bottom
(Tools -> Mini-top & Mini-bottom (Button in tool bar))

Mini-top and Mini-bottom on P&F charts is an objective method to identify important swing highs and swing lows in a Point & Figure chart. Identification of mini tops & mini bottoms in TradePoint is lot easier now and it is just a button-click away. Click on the “Mini-Top & Mini-Bottom” tool under “Tools” menu to automatically mark those columns in real-time.
 

P&F: Auto 45s
(Tools -> Auto 45s (Button in tool bar))

45-degree objective trends lines is one of the unique features of Point & Figure chart. In this new release of TradePoint, we are introducing a tool to automatically plot 45-degree trend lines from all important tops and bottoms on a single click.




Disparity indicator to Super trend
(Add Study -> Indicator)

Disparity index indicator calculates difference between price and the moving average. Disparity indicator – super trend will display difference between price and super trend in histogram format.
Indicator above zero shows price is above super trend and indicator below zero shows it is below super trend. Rising or falling bars shows price is moving away from super trend.

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Intra VWAP Disparity indicator
(Add Study -> Indicator)

This indicator is applicable only on intraday time interval on all charting types. It calculates how far the price is trading from the Intra VWAP reading.

The Indicator above zero indicates that the price is above the Vwap and indicator below zero reading conveys that the price is below the Vwap. Rising or falling bars indicates that the price is either moving away or moving towards the Vwap line.

RDX Indicator
(Add Study -> Indicator)

ADX and RSI indicators are created by J. Welles Wilder. Both uses similar averaging techniques. DMI+ and DMI- lines on ADX indicator represents bullish and bearish lines, respectively. Both the lines are calculated using high and low prices.

RDX indicator used calculation method of RSI for DMI+ and DMI- lines in ADX. They are known as RMI+ and RMI-. The indicator is applicable on all charting types.

DMA Histogram
(Add Study -> Indicator)

DMA Histogram indicator added in all charts.
 

DMA histogram indicator calculates difference between two moving averages and plots it in histogram format. Rising bar shows that short-term average is rising more and difference between the averages is increasing.Falling bars indicate that the short-term average is falling and difference between averages is decreasing. The indicator is available on all charting types.

Renko Swing lines
(Add Study -> Indicator)

Renko swing breakout patterns are simple and effective method of trading swing patterns. Renkoswing line shows it in an indicator format. It will show the level of current bullish and bearish swing breakout pattern which can prove effective from trading perspective.


It is added in system builder as well. Stocks trading above or below swing patterns can now be scanned for.

D-MAST Indicator on Renko charts
(Add Study -> Indicator)

MAST indicator is a combination of Moving average and Super trend. Click here to know more about the indicator and trading strategy.
 

The indicator is useful from trading perspective on Renko chart. D-MAST is a dynamic indicator that adjusts the indicator level based on the volatility. From trading perspective, the stop can go bit wider at times, but it can save whipsaws that occurs during volatile phase. The cost of trading the trend following strategy is ‘whipsaw’ that we have to handle during volatile phases. Reduction of occurrence of whipsaws can improve the overall productivity and profitability of the strategy.
 

D SMART Line
(Add Study -> Indicator)

This is another interesting study on the Renko chart. D SMART is name derived from Donchian, Disparity, Super trend, Moving average, Reversal and Trend on Renko chart.

Super trend is calculated on the basis of ATR. But range calculation methodology of Renko charts is different. We can use important property of Renko chart for the range calculation: Fixed bricks. The advantage is that defining period is not necessary in that case. Multiplier in Super trend is defined by the user. We can define it based on the market situation.
What is the market situation? We can use brick zone indicator to define it. If a greater number of bullish or bearish bricks are printed, it is a sign of a strong trend.

This becomes a Renko based Super trend. The arrow in Smart line shows Donchian channel breakout. Star shows the Disparity from the line. The indicator is especially useful to read strength of the trend, market phase and likelihood of strong reversal or exhaustion. We will soon conduct a webinar for the explanation of this indicator in detail.

Renko based price matrix
(Matrix -> Renko Matrix)

P&F Matrix scores the price and momentum on multiple box-values. Many users who follow Renko charts asked for similar studies on Renko bricks. Renko based price matrix calculates the outcome on Renko charts. It also shows Swing breakout levels and how far price is from swing breakout level in percentage terms.

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Camarilla levels on Renko charts
(Tools -> Intra Camarilla levels)

Intraday Camarilla levels can be plotted on Renko charts as well. People who use Camarilla levels might find it interesting along with Renko patterns.

 


Candlestick: Projections
(OHLC charts -> Projection Menu)

Projection techniques added to candlestick charts. Projection from single candle, double candle, multi-candle, and pivot candles can be applied on the chart.

Video explaining the logic and theory behind this will be soon uploaded on Insight.


Intraday Camarilla scanner

(Backtesting -> System builder -> Add study -> Patterns -> Above, Below Camarilla level)

Camarilla scanner


Heikin-ashi: Straddle-Strangle charts

(Charts -> Heikin-ashi straddle chart)

 

Kagi charts: First version
(Charts -> Kagi Chart)

The first version of Kagi charts is added in TradePoint. Patterns, tools, indicators, scanners will be released soon.

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Log based TPO added in Market Profile charts
(Charts -> Market Profile)

Multi- chart Scanner

(Scanner -> Smart Scanners -> Multi-chart scanner)

This is another unique feature by Definedge.
How about scanning for a stock with these conditions:

  • Trading above 200 DMA in candlestick charts and
  • Triggering a double-top buy on P&F chart and
  • Outperforming Nifty in Ratio chart and
  • Trading in a bullish swing in Renko chart?

Typically, you will have to use multiple scanners to perform this activity using multiple groups.

The new Multiple chart scanner can accomplish this task in a single click. Select the condition you want to scan on different charting types in the Multi-chart scanner and the user can then save the outcome in a group. Relative Strength and Ratio charts are now added in Multi-chart scanner that makes it a single scanner for any type of chart and Relative strength scanning.