Custom Indicators are a way of saving indicators in a way that may be easier to use, easier to understand, and/or easier to distribute.
By creating a custom indicator you are able to create a complicated indicator with many levels of indicator nesting (i.e. Avg(%Change(Close,5),10)) can be turned into a single level indicator (i.e. My Indicator(Close, 5, 10)). Also, you have the ability to hide parameters that you feel you won’t want to modify (i.e. My Indicator(Close)).
Additionally, by creating a custom indicator you are able to create an indicator that will be more understandable. You can take a multilevel indicator (i.e. Avg(StdDev(Close, 10),10)) that is not that meaningful and give it a more meaningful name (i.e. Smoothed Volatility(Close)).
Finally, by creating a custom indicator (even one that may need to call a DLL) you can create a method to distribute your indicator(s) more easily. This will allow you to create an indicator on one chart and use it in all of your charts, as well as distribute your custom indicator to customers.
To distribute your custom indicator, you must install the custom indicator template from your <C:NeuroShell Trader>Template directory that has the same name as your custom indicator (i.e. My Indicator.tpl) into your customers <C:NeuroShell Trader>Template directory. Additionally, you must make sure to install (and register if necessary) all DLLs that are required (if any). If you are distributing a corresponding help file, the help file must be installed into your customers <C:NeuroShell Trader>Template directory.
If you want to distribute a custom indicator or a set of custom indicators, it is recommend that you inform Ward Systems Group Sales Department of what you are distributing, so that it can maintain a list of Solution Providers for all of it’s customers.