[jjthetrader]

Hi all, I'm trying to recreate an indicator for TradeStation from a program I have called tradeguider. They call it 'the diamond indicator' which is basically a moving average. That much I can handle. But the 'diamonds' change colour signaling a change in short term trend. Red is a downtrend, white signals a possible reversal and green is up.
I was just wondering if anyone knew the criteria for this change? It appears to be some kind of crossover signal but the folks at tradeguider say that's not it.
If anyone has any theories I'd love to hear them. If not, thank you for your time.





This guy seems to have ripped it off nicely at hawkeyetraders:

[Blu-Ray]

jj

If you've got the program, try and see if can edit the indicator, so it displays the formula.

If you can do that, post it here or PM me and I'll have a go.

Cheers

Blu-Ray

[jjthetrader]

Hi, it's built right into the program so I can't see anything. I can overlay a moving average and that seems to be what it follows but I'm looking for it's color changing criteria cause they seem to be pretty accurate.

I tried If Close < Avg then red and the same for green but this only matches up about 80%. It's the white ones I'm interested in because they are supposed to be "possible trend reversal".

I could just use tradeguider but I like having everything in Tradestation to keep it all in one window and to be able to incorporate into a strategy if I feel inclined.

I thought maybe someone on this forum might have some experience with tradeguider and know it's ins and outs.

Thanks
JJ

[Blu-Ray]

Originally Posted by jjthetrader »

I could just use tradeguider but I like having everything in Tradestation to keep it all in one window and to be able to incorporate into a strategy if I feel inclined.


Thanks
JJ

Yeh I know what you mean as I feel the same when trying different platforms, it might be worth shooting them an email asking if they could explain how it works.


Cheers

Blu-Ray

[jjthetrader]

Thanks, will do. This company is pretty tight lipped. It's "proprietary" etc. they say. It's one of their software's claim to fame.
cheers,
JJ

[jjthetrader]

For anyone who cares, the solution to this dilema I posted is just the location of the open and close in relation to a very short moving average and in relation to that same relationship one day ago. If you look at the pics above you will see this.
So trageguider is correct that it's not a crossover system.
I haven't coded it out yet but I can see the logic now.

[gassah]

If you are willing to share the TS code I'm interested. Thanks.

Rob

[jjthetrader]

Originally Posted by gassah »

If you are willing to share the TS code I'm interested. Thanks.

Rob

I will.....after the trading day on the weekend sometime.