Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Soultrader

Add-On for Tick Delta and Heikin Ashii Trend

Recommended Posts

Here's an interesting study I started today. This idea was derived by taking a look at Walterw's Tick Delta indicator. The Heikin Ashii Trend indicator is a useful indicator to see the bigger trend of a price move.

 

Heikin Ashii Trend

 

If the 5th bar of the last 5 bars closes above the 50% line of the previous 5 bar average, it stays the same color. If the 5th bar closes below the the 50% average it changes color.

 

Here's what I have in mind. I want to add a delta divergence into this concept by applying Walterw's Tick Delta. Whenever there is a color divergence between the Heikin Ashii and TICK Delta, I want a dot or arrow to be plotted above or below the price bar. So if the Heikin Ashii is blue but the TICK delta shows more sellers, a dot/arrow will be plotted. If a Heikin Ashii is red but the TICK delta shows more buyers, a dot/arrow will be plotted.

 

The reason for this is to spot for divergences and be prepared for a reversal. It is based for a rangebound market and may come in handy at S&R levels, double bottoms/tops, etc...

 

Take a look at the chart below and let me know if this can be of any use. Thanks

 

attachment.php?attachmentid=682&stc=1&d=1170402376

ttmandtickdelta.jpg.1795171e8599621549c720f44c8d9b1e.jpg

Share this post


Link to post
Share on other sites

Ok, here it is... the Delta Ttm Divergence indicator.... it will plot a red cross on top of bar high when we have a bearish divergence between TTm trend and Volume Delta.... as well as oposite bullish divergence.... this will be at the end of the current bar... so it will not give false signals.... enjoy cheers Walter.

5aa70dc5a3e76_DeltaTmDiv.thumb.jpg.bf00746cbc925f50e97db60aeac0c4fc.jpg

DELTA TTM DIV.ELD

Share this post


Link to post
Share on other sites

Hi walterw,

 

Just wanted to thank you again for the TTM Volume Delta add-on. Its working like a charm and I am very amazed how easy it is visually to spot reversals. I'll post some charts soon on it. Thanks! :)

Share this post


Link to post
Share on other sites

Great ¡¡ very happy for that, I did receive a lot from your generosity here, learned great things that helped my trading a lot, its great to give a little bit back, I think thats what collaboration is all about... cheers Walter.

Share this post


Link to post
Share on other sites
Great ¡¡ very happy for that, I did receive a lot from your generosity here, learned great things that helped my trading a lot, its great to give a little bit back, I think thats what collaboration is all about... cheers Walter.

 

 

I agree :) Everyone is very helpful here to help one another improve as a trader.

Share this post


Link to post
Share on other sites

I know you guys are worlds ahead of me on trading and I have a question about TTM Trend. Since I am just beginning in all this I have been looking around a lot and found a PaintBar indicator or two. I've studied them and to me, it looks like the one I have posted below is a little quicker and more accurate than the TTM Trend PB indicator. Would you guys take a look and see if you get the same results? Thanks.

 

Here is the code, compiled indicator below.

{ ModHA PaintBarStudy 1/20/04

modified Heikin-Ashi technique

compares current bar open to close range
with prior bars...if current is within
prior then color remains the same

}
inputs: UpColor(green),DnColor(red),CompBars(6);

vars: haClose(0),haOpen(0),haHigh(0),haLow(0),
color(0);

if BarNumber = 1 then
begin
haOpen = open;
haClose = (O+H+L+C)/4;
haHigh = MaxList( high, haOpen, haClose);
haLow = MinList( low, haOpen,haClose);
end;

if BarNumber > 1 then
begin
haClose = (O+H+L+C)/4; 
haOpen = (haOpen [1] + haClose [1])/2 ;
haHigh = MaxList(High, haOpen, haClose) ;
haLow = MinList(Low, haOpen, haClose) ;

if haClose > haOpen then
color = UpColor
else
color = DnColor;

for value1 = 1 to CompBars
begin
if haOpen <= MaxList(haOpen[value1],haClose[value1]) and
haOpen >= MinList(haOpen[value1],haClose[value1]) and
haClose <= MaxList(haOpen[value1],haClose[value1]) and
haClose >= MinList(haOpen[value1],haClose[value1]) then
color = color[value1]; 
end;


plotPB(haOpen,haClose,"heikin-ashi",color);
SetPlotWidth(1,4);
SetPlotColor(1,color);
end;

MY_PBARS.ELD

Share this post


Link to post
Share on other sites

I take it back guys. I now think they are exactly the same. I think that the colors were throwing me off. My eyes were playing tricks on me. I checked chart after chart tonight and they preformed exactly the same. Carry on and I'll crawl back under my rock now. :o

Share this post


Link to post
Share on other sites

yes Soul, thought the showme study is not set to update intrabar, it seems that if at some point during the bar the ttm had a diferent color, the showme takes that into acount and still plots that divergence... I will be working on it and will try to make a better version of it... cheers Walter.

Share this post


Link to post
Share on other sites

In an act of "creative imitation" (or is it "imitative creationism" :) ), Hubert Senter of TTM will also release a proprietary TS indicator called ... TTM Delta Divergence in early November, 2007. This indicator is looking for:

Current Low or New Low.

Histogram represent the difference between the volume traded at or above the ask and the volume traded at or below the bid.

Aggressive buyers at the Low.

Aggressive sellers at the High.

Real-time Only

Let it run a little first {in usage}

 

Here is a link to a swf video describing this indicator : http://www.divshare.com/download/2532690-421

 

Those wishing to write the code for this may read up on a real time bid ask price action indicator called TickMoneyFlow here: https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=68788&Page=2 which may be another source of "creative imitation" for TTM.

 

{TickMoneyFlow indicator from TS forum. D=68788&Page=2
The CurrentAsk/CurrentBid function returns the current real-time inside Ask/Bid for the last bar on the chart, for use in a chart window. 
CurrentAsk/CurrentBid cannot reference historical Ask/Bid data, and returns the Close of the bar for all historical bars in a chart. Keep in mind that symbols that do not trade directly will report 0; (e.g. Market Index Symbols). 
}
Inputs: Length1(500),Length2(100); 
Vars:	IntrabarPersist TickFlag(0), 
	IntrabarPersist OldPrice(0), 
	IntrabarPersist TMF(0), 
	IntrabarPersist NewTickVol(0), 
	IntrabarPersist MyBarVolume(0); 

if BarNumber >= 1 then 
begin 
NewTickVol = Ticks - MyBarVolume; 
MyBarVolume = MyBarVolume + NewTickVol; 
if (C>=CurrentAsk) then begin               
	TMF=TMF + (C * NewTickVol); 
	TickFlag = 1; 
end; 
if (C<=CurrentBid) then begin 
	TMF=TMF - (C * NewTickVol); 
	TickFlag = 2; 
end; 
if (C<CurrentAsk and C>CurrentBid) and C>OldPrice then TMF=TMF + (C*NewTickVol); 
if (C<CurrentAsk and C>CurrentBid) and C<OldPrice then TMF=TMF - (C*NewTickVol); 
if (C<CurrentAsk and C>CurrentBid) and C=OldPrice and TickFlag = 1 then TMF=TMF + (C*NewTickVol); 
if (C<CurrentAsk and C>CurrentBid) and C=OldPrice and TickFlag = 2 then TMF=TMF - (C*NewTickVol); 
OldPrice = C; 
if BarStatus(1) = 2 then MyBarVolume = 0; 
end; 
Plot1(TMF, "TMF"); 
Plot2(LinearRegValue(Plot1,Length1,0)); 
Plot3(LinearRegValue(Plot1,Length2,0)); 

Share this post


Link to post
Share on other sites

Well done. Always count on TL to scoop the TTM folks. Nothing wrong with a business making a buck...but it always has been the American way to improve and improvise. More than one way to skin the cat.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.