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Switch Traded Asset

by QuantShare, 2919 days ago
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This money management script allows you to use an asset as a signal in your trading system then trade a different asset.

It works by creating a trading system with one single asset, defines your buy and short rules (no sell or cover) then specify in the money management script inputs which asset to trade when the buy signal is on and which asset to trade when the short signal is on.

Say, you have created a simple trading system based on the S&P 500. The system would enter long when the SPY (S&P 500 ETF) is above its moving average and short when the it is below its moving average.
Say, you don't want to enter long and short the SPY but instead use a leveraged ETF.

By simply adding this money management script to your trading system then specifiying UPRO for example in the "Buy switch symbol" field and SPXU for example in the "Short switch symbol", you will create a trading system that enters long UPRO when SPY is above its moving average and enters long SPXU when SPY is below its moving average.



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Type: Advanced Money Management

Object ID: 1689


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Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.