Introducing Xpress Indicator

Chartink has always focused on making technical analysis easier to use—without compromising on depth. With the same objective, we’re introducing Xpress Indicator: a new indicator-generation engine that lets you turn complex indicator logic into a usable Chartink indicator in minutes.

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Why Xpress Indicator Was Needed

Many real-world trading indicators rely on logic that goes beyond standard indicators like SMA/EMA or simple counting conditions. They often involve multi-step calculations, custom rules, and conditional flows.

Earlier, converting such logic into a usable Chartink indicator typically required manual rework or approximation—which could unintentionally change the original strategy’s intent.

Xpress Indicator is built to close this gap.

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What You Can Submit

The generator accepts indicator logic in multiple formats as mentioned below:

• Source code –
  Example: Logic / Script of the indicator.
• Formula-based logic –
  Example: Excel-style formulas, Pseudo-code and Mathematical descriptions.
• Articles describing the logic –
  Example: A blog or note explaining how the indicator identifies trends or reversals.
• Plain English description –
  Example: Step-by-step explanation of the logic or Rules describing how values are calculated.

The system reads the logic and converts it into a usable indicator.

Where It Can Be Used

Once created, Xpress Indicators can be used across:

• Scans
• Widgets
• Charts

Ways to Create an Indicator

There are three supported input methods. Each method follows the same workflow and produces the same output.

1. Copy and paste code or formulas
   Example: Pasting an existing indicator script or mathematical formula
2. Upload a pre-written script file
   Example: Uploading a saved indicator file
3. Paste an article or website link
   Example: Providing a link that explains the indicator logic in detail

Getting Started with Xpress Indicator Creation

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Step 1: Open the Indicator Dashboard

1. Visit: https://chartink.com/indicator_dashboard
2. Click Create a New Indicator

Step 2: Select Indicator Type

After clicking Create a New Indicator, you will see two options:

• Base Indicators
• Xpress Indicators

Select Xpress to continue, as this option supports complex formulas.

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Method 1: Copy and Paste Indicator Logic

Find the formula for the indicator you want to create.

Example: Search online for the formula of Wilder’s Moving Average and copy the formula.

Make sure the logic clearly represents how the indicator is calculated.

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Method 2: Upload a Pre-Written Script File

This method is useful when the indicator logic is already saved as a script file.

Example: A saved indicator script file exported from another platform or editor.

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Method 3: Paste an Article or Website Link

This method is useful when the indicator logic is explained in an article or on a website rather than as code or formulas.

Example format:
Review the indicator logic here and create the required indicator:
<article or website link>

Processing and Validation

After submission, Xpress processes the indicator. This usually takes 5–10 minutes, depending on the logic complexity. During this time, the indicator appears under Converting.

Once completed:

• The status changes to Completed
• The indicator becomes available for use

Before using it, validate the output:

• Check recent candle values(Based on Daily timeframe values only)
• Compare results with the original reference chart or script

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Using Xpress Indicator Correctly (Important Guidelines)

While Xpress makes it easier to convert complex logic into indicators, it is important to use it for the right purpose. Incorrect usage can lead to confusing results, unnecessary computation, or indicators that do not behave as intended.

What Not to Use Xpress For(Not a Scan Rule Builder)

Avoid using Xpress to define logic such as:

• Close above or below a moving average
• RSI, volume, or price crossing a level
• Fixed threshold checks (price, volume, market cap, etc.)
• Simple yes/no scan conditions

These conditions are already supported efficiently inside Scans and should be added there directly.

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What Xpress Indicator Is Meant For

Xpress should be used when your idea requires calculation that cannot be expressed as a simple scan filter.

Typical use cases include:

• Loop-based logic
  • Counting consecutive candles
  • “N out of M” conditions
  • Rolling window calculations
• Custom indicator construction
  • Indicators built from raw price data
  • Scoring or ranking systems
  • Custom smoothing or aggregation logic
• State-based logic
  • Trailing stop calculations
  • Trend or regime identification
  • Conditions that depend on previous states
• Math-heavy transformations
  • Z-scores
  • Correlation or regression
  • Composite or normalized indicators

In short, if your logic needs memory, iteration, or math, Xpress is the right tool.

Good vs Not ideal examples

• Not ideal: Close > EMA(20) and RSI > 60  
• Good: Create an RSI function from scratch by looping gains/losses; output RSI + ‘RSI rising’ flag
• Good: Loop over last 20 candles to compute a momentum score; return score