Using MultiWalk with TradeStation, MultiCharts and Interactive Brokers
Using MultiWalk with MultiCharts
You will need a TradeStation account In order to use MultiWalk for MultiCharts. MultiWalk does not run directly within MultiCharts. Many people have created a TradeStation just to run MultiWalk. You can then perform all your strategy development and testing using MultiWalk in the TradeStation environment. You can even use TradeStation’s data feed in MultiCharts, removing the need to subscribe and pay for a data feed in MultiCharts!
TradeStation’s EasyLanguage strategy is highly compatible with MultiChart’s PowerLanguage. To ensure compatibilty, enable this option in MultiWalk:
MultiWalk Cross-Platform Functions for MultiCharts and TradeStation
MultiWalk Pro comes with a set of functions that can be used in strategies so that they will run on both trading platforms. They are included in the MultiWalk Pro Pack. They standardize some functions that have different names between the two platforms as well as offer more efficient functionality (especially those functions running in TradeStation). I have written them so that they are compatible with both platforms. These functions begin the name MultiWalk. Some examples of cross-platform functions:
Import for TradeStation: MULTICHARTS FUNCTIONS FOR TRADESTATION.ELD
Import for MultiCharts: MULTIWALK FUNCTIONS FOR MULTICHARTS.PLA
TradeStation, MultiCharts and Interactive Brokers
Starting The System
If you want to use TradeStation’s data feed in MultiCharts, you’ll need to run both TradeStation and MultiCharts and configure MultiCharts to use TradeStation’s data feed.
- Start TradeStation and login
- Start Interactive Brokers Workstation or Interactive Brokers Gateway
- Start MultiCharts
- Start MultiCharts with administrative rights
- If you have not done so previously, connect to the TradeStation data feed (see Connecting TradeStation Data Feed below)
- Connect MC to IB
TradeStation Data Feed And Symbols
Connecting TradeStation Data Feed
Using MultiCharts QuoteManage:
Adding TradeStation Symbol
When you load a chart using the symbol, MultiCharts will request data from the TradeStation server. This is SLOW. It took 8 minutes to load a 15min CL chart from 2010-2023. You can monitor the progress using MC’s QuoteManager:
Defining the IB Trading Account
You will need to define the trading account in both IB’s brokerage profile and for each strategy.
Defining IB trading account in brokerage profile
This only needs to be done one time for the brokerage profile.
Defining IB trading account for each strategy
This needs to be done for every strategy you trade in MultiCharts.
Then define the allocation account:
Configuring Interactive Brokers
The MultiCharts/Interactive Brokers interface can be accomplished in two ways:
- Using TWS (IB Traders Workstation) standalone software
- Using IB Gateway
Option #1 is better because it has the entire trading GUI interface to track and confirm trade status and/or correct trades.
Option #2 is better because it does not mandate a restart/shutdown every day like TWS. It is more lightweight on the system and does not have the overhead of TWS.
Interactive Brokers Symbol Mapping
Symbols must be mapped from TS data feed to IB symbols in order to trade that symbol at IB. The symbol quote multiplier (if necessary), session hours, etc., must all be set up correctly. You will need to know the symbol names used in both TradeStation and Interactive Brokers in order to map TS symbols to IB symbols. A guide to symbol names used by IB can be found here:
Adding Data Multipliers
If the data stream coming from TS does not match the brokerage data quote decimal precision expectations, the data may need to be adjusted using MC’s multiplier – a multiplier that is appended to the end of the description:
If you need to look up an IB symbol to determine the multiplier they use, open TWS (IB Traders Workstation) and enter the symbols ticker:
Enter the symbol (such as JPY above) and hit ENTER. A box will appear below showing all the possible matches. Click “Futures”.
In Tradestation you’ll see the multiplier used is 125000. So a factor of 0.01 needs to be used to adjust this data for IB.
Setting up MC and Interactive Brokers Tutorials/Resources
Connecting to Interactive Brokers data feed:
Getting stuck on “backfilling…”
There have been times that a chart just never completes data retrieval in MultiCharts. It gets stuck forever on the “backfilling…” message:
The way that I have fixed this is to do the following:
- Load the exact same symbol/time frame in TS and wait for the PD to disappear/complete. You may need to do a Ctrl-R on the chart to ensure all data is loaded.
- Go back to MultiCharts and close the workspace containing the “stuck” chart. (I wasn’t able to simply do Ctrl-R at this point in MC, it just seemed to be ignored while in this “stuck” state).
- Re-open the workspace and the backfill should complete.
One quick way to tell if the chart is stuck or still backfilling data is to move the scrollbar to the left of the chart. If it keeps “shrinking” or moving, then the chart is still backfilling data. If data is no longer appearing on the left of the chart and scrollbar is static, the chart is stuck…
You can also watch the event log in QuoteManager, although I can’t always tell if it is stuck or still updating: