Create a Field Wizard: Select Type

Create a Field Wizard: Select Type

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The Create a Field Wizard allows you to create a new field in a data series or in all of the data series in a portfolio or group. The Select Type page allows you to select what type of field to create based on what activity you would like to perform.

Selecting What Type of Field to Create

From this dialog, select what action you would like the new field to perform.

$image\ebd_ebd41.gif$ Calculate an indicator or value.

Calculation fields allow you to calculate new values using a function definition. A function can be something simple, like the addition or two numbers, or something more complex, like a specialized financial indicator. For example, a calculation field could be used to calculate the difference between the high and low prices for a stock over each trading day. Pressing the Next button will display the Calculate a Value Wizard.

& For help with function definitions, see Calculating Values and Financial Indicators.

$image\ebd_ebd42.gif$ Generate an optimal signal.

Optimal signal fields allow you to generate an entry/exit by analyzing the price of stock over a given number of days into the future and deciding the best market position to be in. This is useful for analyzing market timing and may also be used as a desired output for predictions. Pressing the Next button will display the Generate an Optimal Signal Wizard.

& For more help with this feature, see Generating an Optimal Signal.

$image\ebd_ebd43.gif$ Predict or model a value.

Prediction fields allow you to predict the future value of one or more existing fields using a neural network. Neural networks use known values of a data series to model the behavior of other data series. For example, the closing price of a stock could be predicted by modeling how the closing price typically relates to the closing price of the previous five days. Pressing the Next button will display the Predict a Value Wizard.

& For help with predictions, see Predicting and Modeling Financial Data.

$image\ebd_ebd44.gif$ Generate an alert.

Alert fields allow you to watch for certain conditions by generating a message whenever an event takes place. For example, an alert can be used to issue a message whenever an entry/exit signal has a change in position requiring a new trade. Pressing the Next button will display the Generate an Alert Wizard.

Ä Note: Alerts are only available in the real time version of TradingSolutions.

& For help with alerts, see Using Alerts to Highlight Events.

$image\ebd_ebd45.gif$ Analyze a signal.

Signal analysis fields allow you to analyze how an entry/exit signal would have been traded using historical data. The data from this analysis can be displayed in a chart, allowing you to view an equity curve. It can also be used for comparing or rating multiple stocks, helping you to identify your own hot prospects. Pressing the Next button will display the Create Signal Analysis Fields Wizard.

& For more help with signal analysis, see Creating and Analyzing Entry/Exit Signals.

$image\ebd_ebd46.gif$ Apply a rule-based entry/exit system.

Entry/exit system fields allow you to generate an entry/exit signal using an entry/exit system. Entry/exit systems produce market timing signals based on rules for when to enter and exit the market. For example, you could create an entry/exit system that produces a buy (enter long) signal when the closing price of a stock crosses a 30-day moving average of its value. Pressing the Next button will display the Apply an Entry/Exit System Wizard.

& For help with entry/exit systems, see Creating and Analyzing Entry/Exit Signals.

$image\ebd_ebd47.gif$ Combine values with a committee.

Committee fields allow you to combine signals or values in other fields into one value by allowing the fields to "vote" for a combined value. This is useful for combining the outputs of multiple predictions or entry/exit systems into a single value to watch. Pressing the Next button will display the Create a Committee Wizard.

& For more help with committees, see Combining Multiple Predictions in a Committee or Combining Multiple Signals in a Committee.

$image\ebd_ebd48.gif$ Apply a trading solution.

Trading solutions allow you apply a complete set of fields to a data series. For example, a trading solution could be used to create all of the fields necessary to preprocess, predict, and analyze a stock. Trading solutions can also be used to try working entry/exit signals on new data series or share them with other TradingSolutions users. Pressing the Next button will display the Apply a Trading Solution Wizard.

& For more help with trading solutions, see Working with Complete Trading Solutions.

$image\ebd_ebd49.gif$ Store manually entered values.

Manual fields allow you to enter data directly into the spreadsheet for the data series. These entered values are treated the same as data that is imported from other sources. Pressing the Next button will display the Select Name page.

Ä Note: Raw data fields cannot be created directly in portfolios or groups.

What Do I Do Next?

When you have selected the type of field you would like to create, press the Next button to continue entering information about the new field. If you would like to exit the Wizard without creating a new field, press the Cancel button.

How Did I Get Here?

The Create a Field Wizard: Select Type page appears whenever you request to create a new field, including:

· Selecting Add New Field… from the context menu of an item in the Portfolio View.

· Selecting the Add New Field button on the toolbar.

· Pressing the New… button on the Data Fields page of the Modify Data Series Dialog or the Modify Group Dialog.

· Pressing the Create Field… button on the Select Desired Outputs page of the Predict a Value Wizard.

· Pressing the Create a New Field… button on the Select Inputs page of the Predict a Value Wizard.

· Pressing the Create a New Field… button on the Display Fields in Chart Dialog.

· Pressing the Create a New Field… button on the Display Fields in Spreadsheet Dialog.

· Selecting Add New Field… from the context menu of the field names of the Spreadsheet View.