Definedge’s trading universe consists of a plethora of tools made to ease trading through thorough analysis. RZone, formerly known as TradePoint Web is one of them – a comprehensive tool that caters to all your technical analysis needs. With RZone, you can view charts and indicators to understand the market movement smartly. You can even create your own trading systems, scan them in real time and backtest them as needed.
In this article, we will discuss how you can create your own system from System Builder and run it on Rzone. All you need is a RZone subscription.
Steps to create your own System on RZone
Begin by logging into your RZone account using your credentials.
Step 1 – Go to your RZone Dashboard
On your RZone dashboard, click on the ‘System Builder’ option from the left-side menu.
On the System Builder Dashboard, choose your preferred charting methods from the drop-down menu.
For example, let’s pick OHLC.
Once the charting method is selected, click on ‘Create System Builder’ option.
Step 2 – Name and Describe your System
In the ‘New System’ section for your chosen charting method, input the required details.
For our example, let’s name the system ‘50 Day SMA and RSI above 50.’ We’ll add a detailed description to specify ‘prices above 50 days Single Moving Average and RSI above 50’.
Step 3 – Choose an Indicator
You can add multiple indicators when creating a system on RZone. To select an indicator, click Add and a pop-up for selecting Indicator and Patterns will open. Add the condition of your choice and fill in the required information.
For our example, for our first condition, we will choose Simple Moving Average (SMA) and add the respective details in input, period, and type of average. Once all details are entered, click on ‘Add’ to add your indicator.
Similarly, you can add a second condition.
Let’s take a second condition of ‘RSI value above 50’ for our example. Add respective details like input, period, average type, and click ‘Add’.
Now, both the conditions are added to the system. If you do not wish to add a pattern, you can save your conditions directly.
Step 4 – Add a Pattern
Click Add and go to the Pattern section of the pop-up. You can choose the Pattern of your choice from the drop-down menu, add the required details and add it to your system.
For the current example, we will not choose any pattern.
Step 5 – Add Expression
Once your conditions and patterns are added, it’s time to add an expression for the respective conditions.
For our example, we can add ‘1 and 2’ or ‘1 or 2’ for the conditions. We will choose ‘1 and 2’.
If you have added more conditions, you can add any possible sequence for your conditions.
Once the expression is added, click on Save.
That’s it. Your system has been added.
You can also refer to the Insight video to better understand how to add a system and backtest it. The process is same.
If you do not have RZone, you can subscribe to it.
You can also get a 1 month free trial for it by signing up for a Demat account with Definedge Securities.
If you have any queries, you can reach out to us at [email protected]