Getting to 500 sales at Envato(Codecanyon.net)!!!

Hi everyone – for those following my progress from hired sword (ninja) to software author at Envato (Codecanyon.net) – see my blog post (‘Uberization of Software Development‘), I hit a major milestone at end of August 2017 by reaching my 500th sale!

The graphic above summarizes my progress as software author. The timeline shows the scripts I’ve authored so far at Codecanyon.net (Envato) and I’ve recapped my sales velocity on the bottom which has been increasing exponentially!

Sales Velocity Summary

  • 2 years and 11 months to get to 300 sales (velocity = ~12 months per 100 sales)
  • 7 months to get to 400 sales (velocity = 7 months per 100 sales)
  • 5 months to get to 500 sales (velocity = 5 months per 100 sales)

My big take away from this analysis is that volume of scripts does not matter as much as the “innovative-ness”, complexity and sophistication of the scripts I create. My last set of scripts have a more sophisticated set of features (drag and drop dashboard designer, uber-style geo tracking, stock investing analytics) that provide more value to potential customers that are looking to save time (and money) by purchasing and incorporating my scripts into their web sites/applications/products.

Another development from the innovation, is I’ve noticed more inquiries from my postings for freelancing opportunities. Until I fully transition to software author, this does help keep the pipeline full. So thanks to those who’ve reached out!

All in all, this is great progress and gives me direction and “marching orders” for the rest of 2017. Innovate, innovate, innovate and hopefully good things will continue happen!

What I still need to learn. I’ve noticed many authors have gotten to this milestone quicker and generate a lot more sales with fewer scripts, so still trying to figure out their secret. Anyone of you guys reading this blog and would like to provide tips and tricks, that would be fantastic. I would love some feedback on my portfolio and the quality of my scripts and what sorts of script I should be focusing on in the future. I’ve started with data visualizations since that’s what I know but maybe there are other areas that might make sense also (e.g. my last two scripts, I’ve ventured out into geolocation and stock trading as these are areas I know also).

Also, I would like to get better at driving my own traffic to my postings so I’m experimenting with more active blogging, posting, etc plus exploring to launch my first email campaign with constant contact. I’ll keep you posted to see how it goes.

Finally, it would be great not to have to go thru this journey alone and have a set of “mates” trying to (or have successfully) complete(d) this journey. So if you are a software developer trying to do the same thing, let me know what you think of this post, especially those that have made successful transition to software author, and let me know if you have anything else to add.

BTW, interested in finding out more about the scripts listed above, click on the ‘my codecanyon portfolio’ link below (or the ‘Buy My Scripts’ link above)

Regards,
Ninja

my email: dataninja.at.codecanyon@gmail.com
my codecanyon portfolio: click here

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Just Released! PHP Daytrader’s Candlestick Pattern Hunter

Check out my latest script – PHP Daytrader’s Candlestick Pattern Hunter – available NOW at codecanyon.net! Click here!

What does an analytics app look like? How do you visualize or productize an algorithm? This is a question many of a new generation of companies focusing on selling analytics, insights, etc. are asking themselves. (even IBM doesn’t know and resorts to a talking box in their “Watson” commercials

This script is my attempt to create a template for developing applications and productizing analytics. In this case I apply a known stock daytrader’s “analytic” called candlestick pattern recognition. But this template can be applied to any analytic. Read more below (and in my Author’s Note blog post)…

– Data Ninja 9/9/2017

WHAT IS THE PHP DAYTRADER’S CANDLESTICK PATTERN HUNTER SCRIPT?
The PHP Daytrader’s Candlestick Pattern script is a “powerful” PHP / jQuery / Javascript script takes a FREE near-real time stock quote feed (from Tradier.com) to build a “live” full featured Highstock Combination chart (see Highsoft) that uses the candlestick chart to show your stocks’ “price action” NEAR REAL TIME in a responsive webpage that can be monitored in a desktop, laptop, tablet or mobile computer/phone.

Candlestick charts are generated every minute (5 or 15 mins – delayed quotes) for any stock in the NYSE, Nasdaq and any others found in the following list of exchanges (click here for all the exchanges Tradier.com supports). In addition to displaying a stock’s price action, this script also hunts for the most common candlestick patterns and flags them in the chart, for daytraders to use to forecast behavior (bullish, bearish, neutral) of all the stock’s in their portfolio. This script is configurable so that daytraders can also define their very own patterns to monitor for also!

WHAT ARE CANDLESTICK CHARTS AND PATTERNS? The candlestick techniques stock daytraders use today originated in the style of technical charting used by the Japanese for over 100 years before the West developed the bar and point-and-figure analysis systems. In the 1700s, a Japanese man named Homma, a trader in the futures market, discovered that, although there was a link between price and the supply and demand of rice, the markets were strongly influenced by the emotions of traders. He understood that when emotions played into the equation, a vast difference between the value and the price of rice occurred. This difference between the value and the price is as applicable to stocks today as it was to rice in Japan centuries ago. The principles established by Homma are the basis for the candlestick chart analysis, which is used to measure market emotions surrounding a stock.

Compared to traditional bar charts, many traders consider candlestick charts more visually appealing and easier to interpret. Each candlestick provides an easy-to-decipher picture of price action. Immediately a trader can compare the relationship between the open and close as well as the high and low. The relationship between the open and close is considered vital information and forms the essence of candlesticks.

Green (bullish) candlesticks, where the close is greater than the open, indicate buying pressure. Red (bearish) candlesticks, where the close is less than the open, indicate selling pressure.

Candlestick patterns are a series of consecutive candlesticks that can be used to forecast future behavior of a stock – uptrend, downtrend, reversal, breakaways, consolidations, etc. See next section for more details.

WHICH PATTERNS WILL THIS SCRIPT HUNT FOR “OUT OF THE BOX”?

This script hunts for known candlestick patterns that are used by traders to predict the behavior of the stock. The following is the list of these patterns:

 DOJI (neutral) – Dojis form when a security\’s open and close are virtually equal. The length of the upper and lower shadows can vary, and the resulting candlestick looks like, either, a cross, inverted cross, or plus sign. Doji convey a sense of indecision or tug-of-war between buyers and sellers. Prices move above and below the opening level during the session, but close at or near the opening level.

 DRAGONFLY DOJI (bullish) – A Doji where the open and close price are at the high of the day. Like other Doji patterns, this one normally appears at market turning points.

 GRAVESTONE DOJI (bearish) – A doji line that develops when the Doji is at, or very near, the low of the day.

 HAMMER (bullish) – A hammer is a price pattern in candlestick charting that occurs when a security trades significantly lower than its opening, but rallies later in the day to close either above opening price. This pattern forms a hammer-shaped candlestick, in which the body is at least half the size of the tail or wick. It\’s is to referred to as a hammer, when this pattern occurs after a downtrend and a hanging man after a uptrend.

 GRAVESTONE DOJI (bearish) – A doji line that develops when the Doji is at, or very near, the low of the day.

 HANGING MAN (bearish) – A hanging man is a bearish candlestick pattern that forms at the end of an uptrend. It is created when there is a significant sell-off near the market open, but buyers are able to push this stock back up so that it closes near (but below) the opening price. Generally, the large sell-off is seen as an early indication that the bulls (buyers) are losing control and demand for the asset is waning.

 PIERCING PATTERN (bullish) – A technical trading signal that is marked by a closing down day with a good-sized trading range, followed by a trading gap (drop) lower the following day that covers at least half of the upward length of the previous day\’s real body (the range between the opening and closing prices), and then closes up for the day. A piercing pattern often signals the end of a small to moderate downward trend.

 DARK CLOUD (bearish) – A technical trading signal that is marked by a closing up day with a good-sized trading range, followed by a trading gap (rise) higher the following day that covers at least half of the downward length of the previous day\’s real body (the range between the opening and closing prices), and then closes down for the day. A piercing pattern often signals the end of a small to moderate upward trend.

 BEARISH HARAMI (bearish) – A bearish Harami is a trend indicated by a large green candlestick followed by a much smaller red candlestick with a that body is located within the vertical range of the larger geen candle body. Such a pattern is an indication that the previous upward trend is coming to an end.

 BULLISH HARAMI (bullish) – A bullish Harami is a trend indicated by a large red candlestick followed by a much smaller green candlestick with a that body is located within the vertical range of the larger red candle body. Such a pattern is an indication that the previous downward trend is coming to an end.

 BULLISH ENGULFING (bullish) – A bullish engulfing pattern is a chart pattern that forms when a small red candlestick is followed by a large green candlestick that completely eclipses or engulfs the previous candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire candlestick from the previous cycle. Such a pattern is an indication that the previous downward trend is coming to an end.

 BEARISH ENGULFING (bullish) – A bearish engulfing pattern is a chart pattern that forms when a small green candlestick is followed by a large red candlestick that completely eclipses or engulfs the previous candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire candlestick from the previous cycle. Such a pattern is an indication that the previous downward trend is coming to an end.

 INVERTED HAMMER (bullish) – A doji line that develops when the Doji is at, or very near, the low of the day.A doji line that develops when the Doji is at, or very near, the low of the day.A doji line that develops when the Doji is at, or very near, the low of the day. A doji line that develops when the Doji is at, or very near, the low of the day. When this pattern occurs during a downtrend, it is refered to as an inverted hammer, a bullish signal.

 SHOOTING STAR – A doji line that develops when the Doji is at, or very near, the low of the day.A doji line that develops when the Doji is at, or very near, the low of the day.A doji line that develops when the Doji is at, or very near, the low of the day. A doji line that develops when the Doji is at, or very near, the low of the day. When this pattern occurs during a downtrend, it is refered to as an shooting star, a bearish signal.

 MORNING STAR (bullish) – A morning star is a bearish candlestick pattern consisting of three candles that have demonstrated the following characteristics: the first bar is a large red candlestick located within an downtrend; the middle bar is a small-bodied green candle, that closes below the first red bar; and, the last bar is a large green candle that opens below the middle candle and closes near the center of the first bar\’s body. This pattern is used by traders as an early indication the downtrend is about to reverse.

 EVENING STAR (bearish) – An evening star is a bearish candlestick pattern consisting of three candles that have demonstrated the following characteristics: the first bar is a large green candlestick located within an uptrend; the middle bar is a small-bodied red candle, that closes above the first green bar; and, the last bar is a large red candle that opens below the middle candle and closes near the center of the first bar\’s body. This pattern is used by traders as an early indication the uptrend is about to reverse.

 BULLISH KICKER (bullish) – A two-bar candlestick pattern that is used to predict a change in the direction of the trend for an asset\’s price. This pattern is characterized by a very sharp reversal in price over the span of two candlesticks; traders use it to determine which group of market participants is in control of the direction. The bullish version is a two pattern from red to green.

 BEARISH KICKER (bearish) – A two-bar candlestick pattern that is used to predict a change in the direction of the trend for an asset\’s price. This pattern is characterized by a very sharp reversal in price over the span of two candlesticks; traders use it to determine which group of market participants is in control of the direction. The bearish version is a two pattern from green to red.

HOW DO YOU SET UP YOUR OWN PATTERNS?

The “real power” of this script is that it allows the seasoned daytrader to create their own custom candlestick patterns that this script then hunts for (in near real time from any desktop, laptop, tablet or mobile computer/phone).

To define a custom pattern, simply edit the file called config.php found in the php folder off the root (/php/config.php). In this file you will find the array ”$patternSettings” that contains the “out of the box” patterns this script searches for. See the previous section for the list.

To add your own pattern, simply add to this array. The properties of each array object are pretty self explanatory. The last 15 candlesticks on your chart are objects you can reference in an “if condition” (see “eval” property below) that defines your custom pattern. $value is the object of the most recent candlestick created, $valueMinus1 is the previous candlestick, $valueMinus2 is the one before that and so on until $valueMinus15. The open, high, low, close values are just properties in the object (e.g. $value->open, $valueMinus1->close, $valueMinus15->high…).

For example, see below the definition for the bullish harami pattern:

For example, see below the definition for the bullish harami pattern:

array(
“ID”=>”blHaram”,
“eval” => “return (\$valueMinus2->open > \$valueMinus2->close && \$valueMinus1->open > \$valueMinus1->close && \$valueMinus1->open > \$value->close && \$value->close > \$value->open && \$valueMinus1->close < \$value->open);”,
“title” => “BH”,
“description” => “Bullish Harami”,
“color” => ”#7dd0b6”,
“text” => ’

BULLISH HARAMI (bullish) – A bullish Harami is a trend indicated by a large red candlestick followed by a much smaller green candlestick with a that body is located within the vertical range of the larger red candle body. Such a pattern is an indication that the previous downward trend is coming to an end.


),

NARRATIVE DESCRIPTION: Here is a narrative description of the definition above. First look at the rule in “eval” property. It says look at the two previous candlesticks ($valueMinus1 and $valueMinus2) and make sure they are in a downtrend (e.g. their close values are less than their opens). Then look at the current candle’s ($value) close and make sure it is less than the previous candle’s ($valueMinus1) open and finally make sure current candle’s open is greater than previous one’s close.

The rest of the properties are pretty self explanatory:

ID – unique ID for the pattern
eval – (we just taled about above)
title – letters that appear in the flag
description – friendly description of the pattern
color – color of the flag
text – html of what appears in the “hover” bubble for the patterns flag

HOW TO USE THE SCRIPT

  1. To install/run the script, unzip the contents of the purchased zip file into the root folder of your domain/subdomain and then enter URL in a browser(e.g. http://stocktracker.dataninja.biz or http://yourdomain.com or http://yoursubdomain.yourdomain.com, etc)
  2. Enter the ticker symbols of the stocks you want to track. They can be from the following list of exchanges – (click here for all the exchanges Tradier.comsupports)
  3. Select the candlestick patterns you would like this script to hunt for. This is based on the patterns defined in /php/config.php file. (See instructions on defining patterns in previous section)
  4. Select the interval duration of your candstick (e.g. 1 minute, 5 minute or 15 minute)
  5. Select the type of moving average you want displayed on your chart (e.g. SMA – simple moving average, EMA – exponential moving average, etc) They can be from the following list (click here for all the exchanges alphavantage.co supports). Moving averages are used by daytraders to determine support and resistance levels of stocks. Graphing this value is included in this script (see orange lines)
  6. Select the moving average period to use for orange line (e.g. 10 day average, 15 day average, 30 or 60 or 90 or 120 day averages)

WHAT ARE THE SCRIPT’S KEY FEATURES?


FEATURES – see blue squares above

  1. This script’s main panel is a combination highstock chart (see highsoft.com) that is fed “near realtime” from two FREE stock quote API calls. Realtime and historical stock price information comes from a service called Tradier (see tradier.com and the technical anlaysis (moving averages, etc) comes from a service called Alpha Vantage (see alphavantage.co). The combination chart displays stock quote area line graph on top pane, a candlestick chart in the main pane, volume chart in the third from top pane and then range finder for the entire chart in the bottom pane. (the foundation can be found in the following Highstock demo page – click here)
  2. Real time 1 minute, 5 minute and 15 minute candlesticks, generated as trading day progresses.
  3. Candlesticks that follow defined pattern are hunted for and identified by these circular flags. Gray flag means neutral behavior (e.g. doji’s), green flag means bullish behavior (e.g. bullish engulfing, etc), red flag means bearish behavior (e.g. bearish engulfing)
  4. Mouseover (hover) over a flag and popup (tooltip) description of the pattern found is displayed.
  5. Technical indicator line charts (see orange line – e.g. simple moving average, exponential moving average) are overlayed on top of price and candlestick charts, to help with identifying ssupport and resistance levels.
  6. Real time stock price quote in a area line chart
  7. Real time stock volume in a column chart
  8. Highstock range selector to zoom in and out of chart’s date ranges
  9. Highstock range panning. For desktop/laptop, use shift+leftmouse and drag to pan. For tablet/mobile device, use two finger swipe.
  10. More zooming – toggle to zoom in by highlighting area to zoom into.
  11. OHLC (open, high low, close) quote every 5 seconds
  12. Countdown to when next candlestick will get generated
  13. Repsonsive nav bar to navigate to different stocks’ charts
  14. Top menu icons for liding panels – settings, stock quote detail, candlestick realtime data, pattern flags sorted by counts

FUTURE IMPROVEMENTS – FROM THE NINJA

I would like this to be the beginning of a series of visualization tools for day traders. With all the amazing backend stock investing related web services available today, it would be great to move the needle in the types of tools available for the independent daytrader.

This would include establishing a community (like open source in software) where fellow traders can help each other be successful. Daytrading is small enough that it does not need to be zero sum game. e.g. everyone can win. From technical standpoint, I would like to see any functionality found in these scripts (especially real time feeds) incorporated into my popuplar dashboard scripts.

-Data Ninja

AUTHOR’S NOTE ON SCRIPT: see blog post – Author’s Note: PHP Daytrader’s Candlestick Hunter

REMINDER ON EXTENDED LICENSES: Just a friendly reminder that there are two different license levels at codecanyon.net. The regular license is for single FREE user use. If you have multiple clients or charging clients for functionality from this script, then an extended license is the appropriate level. It’s only fair as I do spend a lot of time tuning these scripts. And more sales/revenues means I can code more features and it has come to my attention that many purchasers are using my script for commercial (for pay) purposes with just the regular license. Thanks for you support. Click for more details – Regular vs. Extended License Comparison

NOTE ON INSTALLATION

  • Purchase script from codecanyon.net
  • Unzip contents on the ROOT folder of your domain or subdomain. DO NOT TRY TO RUN FROM A FOLDER IN YOUR DOMAIN. WILL NOT WORK
  • Sign up for API key from alphavantage.co and enter in the /php/config.php file
  • Sign up for access token from developer.tradier.com and enter in the /php/config.php file
  • Sign up for an appropriate highsoft license for your project (note this script uses a hosted version of the highstock plug in. No installation necessary for highsoft plug in)
  • This script includes 100% of source code. You can customize to integrate into your software/web application. Please see REMINDER ON EXTENDED LICENSES to make sure you a purchasing the correct license level.

SYSTEM REQUIREMENTS

  • Any browser that supports HTML5/Javascript, jQuery (2.1.4). Tested with Chrome Version 49.0.2623.110 (64-bit), Safari Version 5.1.7 (7534.57.2), Internet Explorer 11.0.9600.18230, Firefox 5.0.2
  • A PHP/MySQL supported webserver is required for jsfiddle features (preview, share, save) and render script options #3 and #4 – click here for phpinfo for PHP/MySQL versions and configuration options of the server serving up the demo. IMPORTANT: make sure to compare with phpinfo of your installation. Many PHP/MySQL errors stem from configuration options of customer php server instances.
  • This script uses hosted libraries for Highsoft (code.highcharts.com, etc) and no installation required. It does require you to procure the appropriate Highsoft (Highcharts, Highmaps, Highstock) license based on your use. Click here for details.
  • See ‘Note on installation’ to install this script on your server.

VERSION HISTORY – PHP Daytrader’s Candlestick Hunter

    • VERSION 1.0 (9/4/2017) – Initial launch version

  1. This script’s main panel is a combination highstock chart (see highsoft.com) that is fed “near realtime” from two FREE stock quote API calls. Realtime and historical stock price information comes from a service called Tradier (see tradier.com and the technical anlaysis (moving averages, etc) comes from a service called Alpha Vantage (see alphavantage.co). The combination chart displays stock quote area line graph on top pane, a candlestick chart in the main pane, volume chart in the third from top pane and then range finder for the entire chart in the bottom pane. (the foundation can be found in the following Highstock demo page – click here)
  2. Real time 1 minute, 5 minute and 15 minute candlesticks, generated as trading day progresses.
  3. Candlesticks that follow defined pattern are hunted for and identified by these circular flags. Gray flag means neutral behavior (e.g. doji’s), green flag means bullish behavior (e.g. bullish engulfing, etc), red flag means bearish behavior (e.g. bearish engulfing)
  4. Mouseover (hover) over a flag and popup (tooltip) description of the pattern found is displayed.
  5. Technical indicator line charts (see orange line – e.g. simple moving average, exponential moving average) are overlayed on top of price and candlestick charts, to help with identifying ssupport and resistance levels.
  6. Real time stock price quote in a area line chart
  7. Real time stock volume in a column chart
  8. Highstock range selector to zoom in and out of chart’s date ranges
  9. Highstock range panning. For desktop/laptop, use shift+leftmouse and drag to pan. For tablet/mobile device, use two finger swipe.
  10. More zooming – toggle to zoom in by highlighting area to zoom into.
  11. OHLC (open, high low, close) quote every 5 seconds
  12. Countdown to when next candlestick will get generated
  13. Repsonsive nav bar to navigate to different stocks’ charts
  14. Top menu icons for liding panels – settings, stock quote detail, candlestick realtime data, pattern flags sorted by counts

Regards,
Ninja
my email: dataninja.at.codecanyon@gmail.com
my codecanyon portfolio: click here

Author’s Note: PHP Daytrader’s Candlestick Hunter

“WHAT DOES AN ANALYTICS APPLICATION LOOK LIKE?

A question many including the largest software companies are still trying to figure out. IBM, for instance, resorts to using a talking box in its commercials to represent “Watson” its analytics offering.


Example: IBM Watson Advertisements
What does “analytics” look like? Is it a talking box?

Analytics in essence are algorithms / formulas / processing logic / pattern recognition rules that are applied to different types of data (transactional, time series/sensor, geospatial data, BIG data) which results in “insights” that are consumed by its users/customers. But if your job were develop an analytics “application”, what will it look like?.

Truth be told, despite all the talk about analytics, the standard form in which an analytics app is used by its users is still a work in progress.

No surprise. After all, it took years before the market decided what a search engine site was (google, yahoo), or ecommerce site was (online stores, amazon), or a social networking site (facebook, linkedin), because these were all new paradigms when they first came out.

…it may take years before the market and technology fully develop and “lands” on a standard way analytics applications take shape.

– Data Ninja
September 6, 2017

SAN FRANCISCO, CA – I decided to write this latest script – Daytrader’s Candlestick Pattern Hunter (and my previous script Uber-Style Geotracker) to continue to develop ways to “productize” analytics and answer the question above.

I believe part of the answer begins with making “smarter widgets” mainstream (which is why I took time off from PHP dashboard development to develop the Geotracker and Candlestick Hunter scripts). I intend to incorporate them into a social visualization mash up tool (like my PHP Dashboard series – especially version 4.x – here at codecanyon).

This candlestick pattern hunting script, for instance, consumes a live real time data stream of stock prices and performs instantaneous predictive analytics (candlestick pattern hunting) and creates a visualization for customers(daytraders) to consume insight (in this case forecasting future behavior of a stock). The consumption of data, application of analytics and presentation via visualization is a repeatable pattern for any type of analytics (e.g. not limited to the stock market).

Though, the primary goal of this script is to cater to Daytraders’ needs, a secondary goal is to test whether it can be used as a template for productizing analytics.

Whether you are a daytrader, data scientist or application developer, let me know what you think of this pattern and how it can potentially be used as a template for developing analytics applications.

PHP Dashboard v4.0 – available NOW at codecanyon.net! Click here!

Tanoshinde (‘Have fun!’),
Data Ninja
my email: dataninja.at.codecanyon@gmail.com
my codecanyon portfolio: click here