Advanced GET: New User Orientation ver 11
Welcome to the New User Orientation for eSignal, Advanced GET Edition. This New User Orientation will cover the basics of using Advanced GET as well as provide a list of resources for finding additional info. This guide will focus on the features that are unique to the Advanced GET Edition of the eSignal, such as the Dashboard, the Advanced GET Scanner, Advanced GET studies, and the Advanced GET drawing tools. For more general information on using the eSignal program, click here.
ADVANCED GET DASHBOARD
The Dashboard is a feature which allows traders to conveniently monitor a portfolio for the current condition of the market on different time frames based on a selected strategy. The Dashboard window displays colored gauges or bars that indicate the status of a strategy for periods ranging from intraday, daily, weekly, monthly time frames.
Open a Dashboard window
Click New from the main menu and select Dashboard.
To enter a symbol into the Dashboard, left-click in the Symbol Box.
Or select a symbol list from the drop down menu.
Once you have entered the symbol(s) you wish to track, the different gauges or bars will light up red, green, yellow, or gray signifying the state of the market according to the selected Dashboard strategy, as explained below.
Selecting Dashboard Strategies
The first time you open the Dashboard, the default Strategy will be the GET Stochastic. Every subsequent time you open the Dashboard, the last Strategy used will be applied.
You can change the Dashboard Strategy by selecting a strategy from the drop down menu on the title bar.
Stochastic Strategy is designed to indicate when the market is overbought or oversold. The False Bar indicates the presence of a strong trend and that the standard overbought and oversold signals should be ignored.
If a Dashboard gauge or bar is green in color, then the market is considered oversold. If a dashboard gauge or bar is red in color, then the trend is considered overbought. If a dashboard gauge or bar is yellow in color, the market is between the overbought and oversold levels, therefore, neutral. If a green or red gauge or bar has a white border, a False Bar is present and the current signal should be ignored.
Type 1 Strategy is a trend-following strategy used for considering taking a position at the end of a Wave 4 Retracement in the direction of the current trend. Four parameters must be met for this strategy: (1) Wave 4 is completed; (2) the Elliott Oscillator has pulled back a minimum of 90% and a maximum of 140% of its peak during Wave 3; (3) the PTI is greater than 35; (4) Wave 4 Channel Lines have not been exceeded.
If a Dashboard gauge or bar is green in color, then the parameters for long position have been met. If a Dashboard gauge or bar is red in color, then the parameters for short position have been met. If Dashboard gauge or bar is yellow in color, then the Type 1 Strategy parameters have not been met.
Type 2 Strategy is trend-reversal strategy for considering taking a position in the opposite direction of a completed trend. Two parameters must be met for this strategy: (1) Wave 5 is completed; (2) there is a divergence of the Elliott Oscillator between the Wave 3 peak and Wave 5 peak.
If a Dashboard gauge or bar is green in color, then the parameters for long position have been met. If a Dashboard gauge bar is red in color, then the parameters for short position have been met. If Dashboard gauge or bar is yellow in color, then the Type 2 Strategy parameters have not been met.
XTL Strategy (eXpert Trend Locator) is a Strategy that indicates whether the market is trending up or down, or is in a non-trend mode. It uses a statistical evaluation of the market to tell the difference between random market swings (noise) and directed market swings (trends).
If a Dashboard gauge or bar is green in color, then the trend is up. If a Dashboard gauge or bar is red in color, then the trend is down. If a Dashboard bar is yellow in color, the state is neutral, as there is no perceived trend. If there is not enough data, then the gauge bar will be gray with a white rim.
Columns can be sorted by symbol (in alphabetical or reverse alphabetical or, by last trade price, change from previous close and by strategy time interval. Sorting the strategy intervals is especially useful if you have a long list of symbols on the Dashboard and you want all buy signals or all sell signals for that interval at the top of the list.
Right-click anywhere on the columns header bar and select Show Sorting Panel.
Columns can also be sorted by strategy buy or sell signals by left-clicking strategy column header. A sort icon (triangle) will appear in the column header and you can toggle the selected column to be sorted in ascending or descending order or group strategy buys or sells at the top or bottom of the list.
Displaying a Chart for a Dashboard Symbol
To display a chart for a symbol entered in a Dashboard window, left-click on the bar for the time frame desired. A chart will appear with the relevant Dashboard Strategy studies for the time interval selected.
You can add an alert to when a strategy signal changes to a buy or sell. Right-click on the header bar and select Edit Columns. Left-click on the Alerts tab.
Editing Time Intervals and Parameters
To edit time intervals and parameters, right-click on the header bar and select Edit Columns. By default, the General tab will be displayed and for the GET Stochastic strategy you can edit the parameters and intervals, whereas with the Type 1, Type 2, and XTL you can edit the time interval only.
Displaying a Chart for a Dashboard Symbol
To display a chart for a symbol entered in a Dashboard window, double left-click on the dial or bar for the time frame desired. A new chart will appear with the relevant Dashboard Strategy studies for the time interval selected.
To link an existing chart to the Dashboard, click on the Symbol and Interval linking icons on the chart and Dashboard windows and select the same color for the links. Once linking is enabled, a single left-click on a dial or bar can now be used to display the chart.
Click here to learn more about the Advanced GET Dashboard.
The Advanced GET Scanner can automatically apply technical indicators and fundamental criteria in real time to the entire market to find possible trading situations. It allows you to control your results by displaying information critical to you. These displays include company name, price change or percent change, daily or year high and low, volume or average volume, bid / ask spread and market capitalization. You can also access charts, news and company research directly from your scan page.
The Advanced GET Scanner can be opened within the eSignal program by clicking on New on the main menu and selecting Scanner. A keyboard shortcut (Ctrl+0) is also available.
Select Advanced GET in the Upper left hand corner of the Scanner Window.
Scanner Set Up
To Set up the Advanced GET Scanner, click on the Filter button located at the top of the Scanner Window.
The Filter menu will appear with two tabs, the Filter & Options Tab and the Technical Analysis Tab.
Filter & Options Tab
The Filter & Options tab allows you to limit scans to selected criteria only.
Scan: Provide a list of stocks using the following criteria:
Sector: Select to view stocks belonging to certain sectors or industry groups only.
Exchanges: Allows you to choose from a list of US stock exchanges and IPOs or all US stocks.
Changed: Highlights parameters that have become positive within the selected amount of time. Choose from Never, In Last 15 Minutes all the way up to 2 days ago.
Time Frame Convergence: Displays symbols whose parameters are positive in more than one time frame. Choose from Never, When All converge, and When Some Converge.
Change From: Allows you to set the results to be based off: Today's Open, Previous Week Close, Previous Month Close, or Previous Quarter Close.
Min 3 DAR/Max 3 DAR: Select the minimum and maximum price range of the stock based on the last three days.
Min/Max Price: Allows you to set price brackets (ie., minimum/maximum dollar value per share).
Min Volume: Select stocks whose daily traded volume exceeds the specified value.
Min Average Volume: The Min Avg Volume is used to select stocks whose last 20 day average volume exceeds the specified value (in thousands).
Filter By Month: Filters for stocks that were up or down for the month.
Filter By Quarter: Filters for stocks that were up or down for the quarter.
Filter By Day: Filters for stocks that were up or down for the day.
Filter By Week: Filters for stocks that were up or down for the week.
Capitalization: Allows you to eliminate stocks whose market capitalization are outside the specified boundaries.
Symbols to Display: Allows you to set the number of issues that are displayed at one time.
Technical Analysis Tab
Match all Filters: Check this box to have the results are based on all filter criteria being met.
Main Filters: Under the Main Filters section you can select time frames, prebuilt sets, and studies.
Xref filters: Allows you to time frames time frames, prebuilt parameter sets and filters to apply an additional level of filters to scans set up with the Main Filters.
Scan Parameters: There are two types scan parameters, prebuilt sets and studies. Click here for a listing of the definitions for the parameters.
Prebuilt set: The Prebuilt Parameter Set is used to initially scan the market for issues matching its underlying parameters based on Advanced GET trading strategies. If a Prebuilt Xref Parameter Set is also selected, then the results of the initial scan are further examined to see if they also match this second parameter set. The following parameter sets have been predefined:
Possible Type I Buy
Possible Type II Buy
Possible Type I Sell
Possible Type II Sell
Buying with the Trend
Selling with the Trend
XTL Breakout Up (Blue)
XTL Breakout Dwn (Red)
Studies (Filter 1, 2 and 3): In addition to the default strategies, you can also create custom scans using up to 3 study filters. You can combine standard studies and indicators to create custom trading strategies, including, ADX, Elliott Wave, MACD, Stochastics, Moving Averages, Oscillator Pullback, Regression Trend and the Advanced GET set-ups, such as Type 1 and 2. The following parameters are used either to further refine the trading strategy defined by the Main/Prebuilt Xref Parameter Set, or to create your own customized trading strategy:
Regression Trend Channels
Relative Strength: Calculates Relative Strength by comparing the stock to the entire market or just the stock’s sector or industry group for strong stocks or weak ones or for those out-performing or under-performing the Dow Jones or NASDAQ indices. Results can then be ranked.
Period: This allows you to select the period over which the Relative Strength is calculated, either 3 months, 6 months, 12 months, or a composite of all of these periods.
Compared To: Selects the other issues that an issue is compared against: either just issues within the same group, the same sector, or against all other issues in the market.
Filter Results: Filters issues based on the selected Relative Strength.
Click here to learn more about the Advanced GET Scanner.
The Advanced GET Studies provide unique insights into technical analysis. Taken together, they can provide an objective, rule-based approach to trading. Adapted for use in a variety of techniques, the Advanced GET Studies were developed to assist the professional trader time entries and exits, tighten stops and identify new trading opportunities. Here is a list of the available Advanced GET Studies and their links:
Applying an Advanced GET Study to a Chart
To apply a GET study to a chart, left-click the GET icon (located on the title bar of the chart) and choose a study.
Alternatively, you can right-click the chart, click Insert Study, and select the Advanced GET tab for a list of GET studies.
Click Apply and the study will appear on the chart. In the example below we’ve selected GET Elliot Waves.
The Advanced GET Studies have built-in alerts you set to notify you when a predetermined criteria has been met. To set an alert on a GET Study, right click the chart, select Edit Chart and highlight the study from the left pane. Left-click on the Alerts tab for a list of available alerts. For more info on alerts on studies, click here.
The Advanced GET Edition offers a set of proprietary drawing tools:
Apply an Advanced GET Drawing Tool on a Chart
Left click the Drawing Tools icon (pencil) located on the title bar of the chart. This will display a list of Drawing Tools. Mouse over any icon to display the name of the Drawing Tool and select the Advanced GET specific tool.
Alternatively, you can right-click on the chart and highlight Insert Drawing Tool. The GET tools are located towards the bottom of this menu.
Once you select the drawing tool, your cursor will indicate which icon has been selected. Left click on the chart to draw the appropriate lines. In the Example below we’ve added Gann Angles.
You can add alerts to any Drawing Tool by double clicking it once it’s been added to the chart. Alternatively you can right click the chart and select Edit Chart. Choose the Alerts tab to set an alert to notify you when a predetermined criteria has been met. Click here to learn more about drawing tools.