We have developed a lot of Free TradeStation Indicators.
On this page, you can find our best indicators divided by category.
You can download the files for free.
Free TradeStation Indicators – Trend Follower
Before using these Free TradeStation Indicators, there are some things to remember.
Trends only exist in high daily, weekly, and monthly timeframes.
A trend follower strategy is the opposite of a mean-reverting approach.
The more mature a market becomes, the more liquid it becomes, and the more it responds to the logic of mean-reverting.
With some commodities and stocks, we can successfully use trend follower strategies.
Mean reverting strategies work best on major stock indices.
Trend Follower Indicators are used to measure the direction and strength of a trend using an average of prices to establish a baseline.
The SuperTrend is the first of our Free TradeStation Indicators and is one of the most used trend indicators, but it is not present in the TradeStation.
You can use this indicator in every time frame, but the long timeframes will work better.
MultiCharts SuperTrend – EasyLanguage – Tradestation SuperTrend
To try to minimize many false signals, we developed the SuperTrend MultiTimeFrame Indicator.
Here you can also use our SuperTrend Histogram Indicator.
Multitimeframe indicators are handy for having an overall view of the trend. You should always remember that trends only exist in high time frames. So it’s still good to start from a weekly or daily timeframe and then look for an entry point on a lower timeframe.
SuperTrend Multi Time Frame Indicator
Free TradeStation Indicators – Oscillator
The oscillators oscillate (in a sinusoidal manner) around a horizontal line called the balance line.
– Determines when the price is susceptible to correction (when the market is exhausted in the prevailing trend).
– From a sale signal in the overbought area and a purchase signal in the area of the oversold.
– Indicates the divergence between the oscillators and the price, which helps make trading decisions.
The ADX, or Average Directional Movement, is an indicator that measures the intensity of a trend without indicating how it is oriented (the direction it takes).
Our ADX indicator also has a slope.
The slope direction is straightforward to calculate; you have to compare the last ADX value with the two precedents. When ADX is increasing, the color became green and red when it is decreasing. When there isn’t the direction, the color became Cyan and Blue.
ADX Histogram and Slope Indicator for TradeStation, MultiCharts & MT4
Many of our Free TradeStation Indicators have the slope indication.
The RSI (Relative Strenght Index) is an oscillator that measures price movements’ speed and direction.
The Momentum is the rate of the rise or fall of the price. The RSI calculates the Momentum as a rapport between “high” closures and “low” closures.
MOVING AVERAGE – RSI – SLOPE
Coppock Curve Indicator
The Coppock Curve Indicator is useful to open long-term positions. In fact, its results are definitely better on monthly time frames.
Its construction is simple: make the weighted average of the sum of the 14-month ROC and the 11-month ROC.
BOLLINGER BANDS – BANDWIDTH
The Bollinger Bands are already present on every platform, but using the Bandwidth, the bands will be displayed only when the volatility decrease (congestion or range market).