The CQG IC platform boasts a number of advanced features including those that allow you to create your own custom studies, scan a portfolio for certain conditions and backtest a trading idea before putting it in a live market. The platform's advanced features include (but are not limited to) the following listed below.
CQG IC's custom study feature allows you to define and display customized studies. Once you have defined a custom study, it can be displayed in the same manner as any other study. Traders can define custom studies using the Define User Formulas window. Creating a custom study involves entering:
- A study name
- A study name abbreviation (if desired)
- Study curve name (instead of the c1, c2, c3, etc. default names)
- Study curve formulas
CQG IC offers two types of market scans. The standard market scan applies a set of conditions for a particular chart type(s) to a portfolio. A tiered market scan applies a set of conditions for a particular chart type(s) to the results of the first scan. You can have up to three scans in a tiered scan. The results can be exported (for example, to a spreadsheet program such as Microsoft Excel) and/or emailed to you.
You can create alerts to identify real-time market events, perform actions and send notifications. Alerts can be set based on:
- Condition - provides notification if the conditions for a symbol are met. The alert resets when the restore signal condition is met.
- Price - provides notification if price crosses above or below a specified threshold.
- Price X Line - notifies you when a bar crosses above or below a Pointer Tool Value, such as a trendline.
- Study - notifies you when a study output crosses above or below specified values.
- Time - displays an alert at a specified time.
- Trading system - provides notification when your trading system indicates that a trade should be made.
You can build, evaluate and optimize trading systems in CQG IC. These advanced features allow you to test a trading idea to see how it would have performed on historical data, a practice known as backtesting. Two sample trade systems are provided for you, or you can create your own. Creating a trading system involves five steps:
- Name the system.
- Name the long and/or short trades for the system.
- Establish entry characteristics for the long and/or short trades.
- Establish exit characteristics for the long and/or short trades.
- Designate a commission amount and commission scheme (fixed or per contract).
InvestingAn effective watch list will uncover opportunities missed by other traders, fund managers and market timers.
TradingAutomated trading systems minimize emotions, allow for faster order entry, lead to greater consistency and resolve pilot-error problems.
TradingThese steps will make you a more disciplined, smarter and, ultimately, wealthier trader.