MotiveWave Docs
MotiveWave.com
  • User Guide
    • Welcome
    • Quick Start Guide
      • Getting Started
      • Installation
      • Customization Options
      • Advanced Features
      • Troubleshooting and Support
      • Next Steps
    • Console Overview
      • Preferences
      • Changing the Look and Feel
      • Desktops
      • Quote Sheets
      • Backup and Restore
      • Repository
      • Email Configuration
      • Docking Framework Guide
        • Introduction
        • Stations
        • Pages
        • Layouts
        • Customization
    • Accounts Panel
      • Simulated Account
      • Commissions
    • Alerts
    • Charts
      • Settings
      • Chart Spacing
      • Bar Sizes
      • Importing Data
      • Exporting Data
      • Birds Eye View
      • Cursor Data
      • Depth Of Market
      • Chart Labels
      • News
      • Watermark
      • Scaling
      • Analyses
      • Ratios
      • Time and Price Guides
      • Percent Change Charts
      • Software Development Kit
      • Lock Studies
      • Lock Scroll
      • Study Templates
      • Linking Charts
      • Working With Chart Windows
      • Ticker Tape
      • Chart Trading
      • Data Export Groups
      • Analyses Guide
        • Introduction
        • Managing Analyses
        • Sharing Analyses
    • Components
    • Depth Of Market
    • Elliott Wave
    • Hurst Cycles
      • Introduction
      • Study Overview
      • Using the Hurst Cycle Study
    • Instruments
      • Custom Instruments
    • Option Chain
    • Order Flow
      • Introduction
      • Time Price Opportunity (TPO) Study
      • Volume Imprint
      • Depth of Market
      • Time and Sales
      • Delta Volume
      • Cumulative Delta
      • Bid/Ask Volume
      • Speed of Tape
      • DOM Power
      • Order Heatmap
      • Big Trades
      • Speed Gauges
      • Components
    • Pages
    • Preferences
      • General
      • Theme
      • Chart
      • Toolbar
      • Sounds
      • Ratios
      • Elliott Wave
      • Harmonics
      • Historical Data
      • Orders
      • Alerts
      • Email
      • Trade History
      • Buy/Sell
    • Replay Mode
    • Scanner
      • Scanner
      • Creating a Scan
      • Executing a Scan
      • Editing a Scan
      • Elliott Wave Scanner
      • Harmonic Scanner
      • Study Scanner
    • SDK Programming Guide
      • Preface
      • Change History
      • Introduction
      • Fundamental Classes
      • Overlay Example
      • Study Plot Example
      • Drawing Figures
      • Signals
      • Tick Data
      • Strategies
      • Logging
      • Internationalization
      • Deployment
      • Environment Setup
    • Shortcuts
    • Strategies & Backtest
      • Strategy Back Testing
      • Creating a Strategy Analysis
      • Strategy Analysis
      • Strategies
    • Studies
    • Time and Sales
    • Tool Bar
    • Trade Report
    • Watch List
    • Workspaces
  • Release Notes
    • Release Notes
    • What's New In Version 6.5
    • What's New in Version 6.4
    • What's New in Version 6.3
    • What's New in Version 6.1
    • What's New in Version 6.0
  • Knowledge Base
    • Getting Started
      • Add a Symbol to a Watch List
      • Create a New Page
      • Create a New Workspace
      • Free Data Sources
      • Linux Installation
      • Resize Console Panels
      • Set Up a Simulated Account
      • Does MotiveWave Come With Data?
      • Can MotiveWave Be Used on Multiple Computers?
      • Futures Symbol Table
    • Connection
      • Connection Details
      • Add a Connection to a Workspace
      • Rithmic - Connection Issues and Troubleshooting
      • Connect MotiveWave to R|Trader Pro Gateway
      • GAIN Connection
      • Indian Market Connections
      • Interactive Brokers Connection
        • Troubleshooting Interactive Brokers Connection
        • Historical Data is Slow with Interactive Brokers
      • CQG Symbology
      • TD Ameritrade Search
      • Rithmic Eurex Symbology
      • Computer Sleep Mode
      • IQFeed Data
      • Another Instance of MotiveWave Is Using License Key
    • Workspace
      • Add a Connection to a Workspace
      • Create a New Workspace
      • Create a Workspace Backup
      • Restore a Workspace Backup
      • Switch Connections in a Workspace
      • Workspaces Not Showing Up
    • Charts
      • Adjust for a Stock Split
      • Assign Trading Hours to an Instrument
      • Component and Study Visibility
      • Different Charts for the Same Instrument
      • Make Studies Stick to a Chart
      • Trend Lines Don't Line up on Different Bar Sizes
      • Use a Display Mask
      • Create Tick, Range, PnF, or Renko Chart
      • Clicking on the Tab of One Chart Changes Tab of Other Charts
      • Charts Stopped Streaming Data
      • Charts Show Incorrect Historical Data
      • Time Range Measurements Are Incorrect
      • Limited Tick Data on Charts
      • Set Start Time for Chart Bars
      • View List of Studies and Components on Chart
      • Show ETH or Extended Data
    • Trading
      • Position Average Is Changing Overnight
      • Execute Trades on Another Account
    • General
      • Change Themes
      • Define Trading Hours
      • Futures Contract Backfill
      • Reset the Console Layout
      • Set a Default Account
      • Set Up a Repository
      • Set Up Gmail for Email Alerts
      • Set Up iCloud Mail for Email Alerts
      • MotiveWave Covers Windows Taskbar
      • Limit Instruments in Quick Search
      • Can’t See My Menu Anymore
      • Trade Report Is Incorrect
    • Study
      • Component and Study Visibility
      • Order Heatmap Study Not Showing
      • Forex With Volume Related Studies
      • Add a Custom Study
      • Volume Imprint or TPO Overlap
      • Use Real Values
    • Elliott Wave
      • Elliott Wave Data Window vs Start Date
      • Elliott Wave Functionality
      • Show Multiple Elliott Wave Ratios
      • Stacked Wave Labels
    • Scan
      • What Do the Scanner Results Fair, Good, Etc. Mean?
    • SDK
      • Create a Custom Study or Strategy
    • Optimize - Backtest
      • Backtesting Limitations
    • Support
      • Access Log Files
      • Active Session Exists
      • Create a Workspace Backup
      • Find My License Key and Edition
      • Minimum System Requirements
      • MotiveWave Extensions Directory
      • Uninstall MotiveWave
      • Data Loss
      • Trendlines Shift on Nonlinear Charts
      • Slow Application Performance
    • Error Messages
      • Forex.com - Error Placing Order: 75
      • Binance - Connection Failed: Invalid API Key
      • Binance Futures - Unable to load listen keys
      • IQFeed - Error: Index 1 out of bounds for length 1
      • IQFeed - Connection Failed
      • State Error
      • Error Placing Order(s)
    • Purchase
      • Upgrade from a Lease to a Purchased License
      • Upgrade from a Lower Edition Purchased License to a Higher Edition Purchased License
      • Recently Purchased Where Is My License Key?
      • PayPal Payments
      • How Do I Cancel My Lease?
      • Are Updates to the Software Free?
    • FAQ
      • Can I Add Commentary
      • Can I Have a Simulated and a Live Trading Account
      • Can I Have More Than One Broker Account
      • Can I Save My Analysis
      • Can I Trade from the Chart
      • Can I Use MotiveWave on Multiple Computers
      • Does MotiveWave Support macOS
      • Does MotiveWave Support Multiple Computer Screens
      • How Do I Log in to MotiveWave
      • How Do I Make Point & Figure and Hybrid Renko Charts
      • How Do I Position and Size the Chart Windows on a Specific Screen
      • How Do I Save My Charts
      • How Do I Sync MotiveWave Between Two Computers
      • What Instruments Does MotiveWave Support
      • What Is Compact Mode for Chart Windows
      • Where Are the Chart Tools
  • Video Tutorials
    • Product Demos
    • Startup and Installation
    • Workspaces
    • Broker and Data Feed Connections
    • Overviews
    • General Configuration
    • Configuring Preferences
    • Charts
    • Analyses vs Alternate Analyses
    • Studies and Strategies
    • Trading
    • Alerts
    • Replay Mode
    • Scanners
    • Fibonacci
    • Harmonics
    • Elliott Wave
    • Webinars
    • Third Party Webinars
  • Studies
    • A - B
    • C - D
    • E - F
    • G - H
    • I - J
    • K - L
    • M - N
    • O - P
    • Q - R
    • S - T
    • U - V
    • W - X
    • Y - Z
Powered by GitBook
On this page
  • Manual Strategies
  • Strategy Configuration
  • Strategy Panel
  1. User Guide
  2. Strategies & Backtest

Strategies

PreviousStrategy AnalysisNextStudies

Last updated 12 months ago

A strategy is a special type of study that may be used to automate or partially automate trading. In addition to displaying the study information, a Control Box is made available that allows the user to activate/deactivate a strategy and view important runtime information.

MotiveWaveâ„¢ supports two modes for strategies:

  • Automatic – Once the user activates the strategy, it will automatically buy and sell based on the internal logic.

  • Manual – In this mode, the user tells the strategy when it is OK to enter.

MotiveWaveâ„¢ comes with around 30 built-in strategies. These can be found under the Strategy menu (from the top menu bar).

The following screen shot illustrates the Moving Average Cross strategy. This strategy will buy when the Fast MA crosses above the Slow MA and sell when it crosses below (see triangle markers below). Each strategy will have a control box (bottom left corner). This will enable you to edit the strategy and activate it. The control box also displays status information.

Manual Strategies

MotiveWaveâ„¢ allows you to create strategies that respond to user input to enter or exit a position. This can be very useful as a way to help direct and manage exit points for user initiated trades. For an example of how this works, see the Trade Manager strategy.

The following screen shots show the configuration options for Trade Manager. On the first tab (Entry/Exit) you can setup the entry order and up to 3 exit orders. The Stop Loss tab provides options for the stop loss order.

From the Trade Manager Control Box, you can choose Long (buy) or Short (sell). When you click the Activate button, the strategy will enter on the close of the bar.

Once the strategy is active, the title bar will flash (indicates an active strategy) and the Activate button will be replaced by Cancel (deactivates the strategy) and Enter Now (creates a market order to enter the position).

When a position is entered in the strategy, the labels in the control box will display the open position, current unrealized P/L (profit or loss), target P/L, stop P/L among other information.

Strategy Configuration

The configuration options for a strategy will vary, but there are some settings that apply to many strategies.

The first panel is the Trading Options panel. This panel enables you to configure the following:

Trading Options:

  • Trade Lots – This determines the quantity on the orders that are used to entry and exit positions. The Trade Lot is multiplied by the default quantity to determine the actual quantity.

  • Position Type – Use this option to indicate if the strategy can have long and/or short positions

  • Use Account Position – Use the existing position that exists in the selected account.

  • Enter On Activate – If enabled the strategy will create an initial position when you activate the strategy

  • Close On Deactivate – If a position is open when the strategy is deactivated, it will be closed at market price.

  • Bar Updates – If enabled, the strategy will respond to live bar updates instead of waiting until the close of the bar.

  • Underlay – If enabled, the strategy will be drawn behind the price bars.

Trading Sessions:

The Trading Sessions section enables you to define sessions where the strategy may be active. In between trading sessions, the strategy will be automatically deactivated.

  • Session 1 – defines the first trading session with a start and end time

  • Session 2 – defines the second trading session

  • Time Zone – optionally specify the time zone for the hours defined in Session 1&2

  • Close On Session End – Closes an open position when the session ends

Strategy Panel

The Strategy Panel tab allows you to choose what labels are displayed on the control box. The available labels will depend on the strategy.

  • Show Position – displays the current open position

  • Show Entry Price – shows the average entry price for the open position

  • Show Unrealized P/L – shows the current unrealized profit/loss for the open position

  • Show Realized P/L – shows the current realized P/L

  • Show Stop P/L – shows what the profit/loss would be if the stop loss level is reached

  • Show Target P/L –shows that the profit/loss would be if the target level is reached

  • Show Risk Ratio – shows the risk level (target p/l divided by stop p/l)

  • Show Total P/L – current total profit/loss since this strategy was activated

Strategy Menu
MA Cross Strategy
Trading Options Panel
Strategy Panel Options