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.

jjthetrader

REQ Help with Trend Indicator

Recommended Posts

Just had another thought...we still haven't explained 2 whites. I'm confident in guessing (not even going to look at the chart again!) that if the MA is up and you close below you get white and will continue to get white until the MA turns down (red) or you get a close back over the MA (Green).

 

I think that will make it identical. Its not a bad little indicator though I rather like a 3 period SMA.

 

Cheers.

Share this post


Link to post
Share on other sites
would you mind sharing your code for the indicator at all?

 

but of course. this is a constant work in process. you need a rule in the code to indicate whether the computed reversal price is off the lowest low or highest high -- you can see I set this to be where the midpoint of the last bar is relative to the range of the last 6 bars. if anyone can think of a better way to do this, I am all ears.

 

Vars: LowestLow(0), HighestHigh(0);

 

If CurrentBar > 1 Then Begin

LowestLow = Lowest (low, 5);

HighestHigh = Highest (High, 5);

 

value10=highest(h,6);

value11=lowest(l,6);

value12=(value10+value11)/2;

value13=(H+L)/2;

 

If value13>value12 then begin

value1=highesthigh-(AvgTrueRange(5)[1] * 1.5);

plot1(value1,"SAR Value");

end;

 

If value13<value12 then begin

value2=LowestLow + (AvgTrueRange(5)[1] * 1.5);

plot1(value2,"SAR Value");

end;

 

End;

If value13>value12 then

setplotcolor(1,white)

else

setplotcolor(1,cyan);

 

 

clearly, you cannot use this indicator by itself -- you must incorporate many other factors -- ie, higher timeframe pattern, vwap etc.. whatever you use... but this indicator gives a price as an idea for an entry that you can take or leave.

Share this post


Link to post
Share on other sites

here is an example from today.

 

I entered ES when it appeared price failed just under VWAP. I did this with a market order before the 'confirmation' of the reversal price triggered. I set a stop-market order at the computed reversal price to enter YM as a way to add to my initial order. I totally screwed up on the YM exit as you can see.

 

The key here was not this indicator -- but it was nice in the heat of battle to have a computed price to go with. Just an example.

 

attachment.php?attachmentid=4276&stc=1&d=1196472947

5aa70e26a96a1_Nov30ReversalPriceIndicator.thumb.png.372e83b11210f5d2d2ef3e501bbc4947.png

Share this post


Link to post
Share on other sites

Yes there does appear to be more to it. There seems to be a condition of the closes closeness to the MA. It's almost like there's a very small MA envelope around the MA and until it breaks out of that the second close won't change from white.

There's the added observation that if you're closing above the MA then you get a drastic close below, bypassing that "envelope", it will go straight from green to red and bypass white all together.

I've posted a 5min chart of the ES with the diamonds on so if you guys would like to trouble shoot you can. I can post any chart you like with them on to test with.

5aa70e26d1c3d_es5min.jpg.8f3206295180aa25dc6a4c7c5b03ff0c.jpg

Share this post


Link to post
Share on other sites

Blu-Ray, I'm just trying to make your life difficult. But here's another condition for you that will explain some of the white diamond action.

As you can see in the attached pic, point A should be "green" (mine are blue) because it's the 2nd close above the MA. But it closes below the previous bar which keeps the diamonds white. Then point B closes level to A which also keeps it white. If that would have closed up it would have been green.

Then we see Point C is white as well because it closes below the MA after a close above it. But then look at the next bar. It's wide range up and goes straight to green (blue in my case) because of my MA envelope theory.

 

So did I ruin your weekend thinking about programming this? lol

white.jpg.ba738967c978ba1a600716dcde787839.jpg

Share this post


Link to post
Share on other sites

Hey Guys

I am new to the forum and relatively new to trading. I read this thread @ the indicator and was interested because I use a simple system of moving averages to trade the ym with. I use a 5 ema on close. a 6 ema on open. I simply wait for a cross and buy/sell on a pullback to the 5 ema.I have been very interested in the VSA and these VWAP and have been playing with tick delta lately as well. I love the website and great effort everyone puts in to it.

 

AG

Share this post


Link to post
Share on other sites
Hey Guys

I am new to the forum and relatively new to trading. I read this thread @ the indicator and was interested because I use a simple system of moving averages to trade the ym with. I use a 5 ema on close. a 6 ema on open. I simply wait for a cross and buy/sell on a pullback to the 5 ema.I have been very interested in the VSA and these VWAP and have been playing with tick delta lately as well. I love the website and great effort everyone puts in to it.

 

AG

 

pipper : can you post a chart of this trades ? sounds simple... cheers Walter.

Share this post


Link to post
Share on other sites

Hi Walter...it is really a simple strategy ...this is basically a 3 bar play... find a time frame with 3 bars between ma xovers. then there is a few points to be made.

first bar is signal - shows a crossover of ma's when bar closes

second bar is entry bar - extrapolate where 5 ema will be if it were a straight line and place limit order at this 5 ema extrapolation point..

third bar - high/low(depending if you went long or short) is the first target.

if I find a time frame with 3 bars between ma xovers. then there is a few points to be made.

it seems simple but you have to be fast on the orders...especially playing the 144 tick chart.

 

 

I really like this entry technique as it guarantees a minimum move. I work full time so I don't get alot of trading time unless I work evenings.

I would love to make a full time occupation of trading!

 

 

Anthony pipper_boy@hotmail.com

simplemethod.thumb.PNG.f0eda7d9b4eba0f6fcfa824913afe226.PNG

evensimpler.thumb.jpg.766c8108931e15de7b501a8930e2ce0d.jpg

Share this post


Link to post
Share on other sites
hi guys...

 

I have been working on something similar so thought I would chime in...

 

rather than have the indicator follow price as in a close relative to a moving average, personally I find it more useful to compute a price in advance that signals a 'reversal' if touched. Thus you can see a 'mechanical trigger point' in advance rather than having to wait for a bar to close. I realize this is really only a minor difference in what you are doing but thought I would throw this in anyway.

 

My friend, what you are describing is a strategy. This is merely an indicator. However, I have worked out a nice little strategy from observing price action around the white diamonds if it's been in a consistent (6 bars) trend. For my strategy this indicator works best on a 2min chart and will scalp 1 point off the ES nicely. I set entry at the low of the bar creating the white diamond (if going long). Of course there's more to it than that but you get the idea of how a mechanical entry could be set by using an idea like this. It's similar to yours, waiting for a pullback.

 

I do appreciate your post as I'm always interested in incorporating new things. Thank you.

Share this post


Link to post
Share on other sites
Hey Guys

I am new to the forum and relatively new to trading. I read this thread @ the indicator and was interested because I use a simple system of moving averages to trade the ym with. I use a 5 ema on close. a 6 ema on open. I simply wait for a cross and buy/sell on a pullback to the 5 ema.I have been very interested in the VSA and these VWAP and have been playing with tick delta lately as well. I love the website and great effort everyone puts in to it.

 

AG

 

Thank you for contributing to the thread. It's very interesting how different folks use MA's for trading. Have you created a strategy for this and backtested it?

Share this post


Link to post
Share on other sites

Hi JJ

 

make sure you look at the charts again....remember

 

second bar - entry at 5 ema.... to hi/lo of 3rd bar is target

depending if u went long or short.

we can research 100 days of xovers...entry price on second bar to h/l of 3rd bar can be measured.

then you can see that 9times out of 10 the market will move "n" number of points.

as an example n = 5 then you are guaranteed 4 ticks on a limit order. the 512 tick on the ym can some days only give 4 to 5 entries all day. you would 9 times out of ten be guaranteed "n" number of points.

I do have an indicator on my 512 chart in the example above. it is a simple indicator for ema/ema or ema/wma xover.

Anthony

yes JJ. it is simple to backtest...just check the first couple of hours every morning. I am still working on a better way of using this entry technique... I am hoping to find ways to filter trades on this forum. I oringinally did this play off a 144 tick on the ym. lots of trading and lots of commissions : ).

Share this post


Link to post
Share on other sites
JJ

I just realized that you meant a backtest in TS. I don't know much @ that or how to do it at all. sorry

 

AG

 

Yes, I was just wondering if you had an automated strategy in TS which was backtested.

When you exit on the low/high of the 3rd bar, how do you know it's the low/high of that bar or do you have a target of 4 ticks or something?

Share this post


Link to post
Share on other sites
Hey Guys

I am new to the forum and relatively new to trading. I read this thread @ the indicator and was interested because I use a simple system of moving averages to trade the ym with. I use a 5 ema on close. a 6 ema on open. I simply wait for a cross and buy/sell on a pullback to the 5 ema.I have been very interested in the VSA and these VWAP and have been playing with tick delta lately as well. I love the website and great effort everyone puts in to it.

 

AG

 

I like it. I've just gone back and looked at it on a 512 tick. What I'd like to see is some background weakness/strength come in using VSA and then narrow my entry and direction down with this.

I personally like scalping, quick and dirty.

 

What do you do if the second bar doesn't come up to touch the 5ema? Not take the trade and wait for the next setup?

 

cheers

Share this post


Link to post
Share on other sites

i think thats accounted for by the rules I proposed MA up close down so white :)

 

"As you can see in the attached pic, point A should be "green" (mine are blue) because it's the 2nd close above the MA. But it closes below the previous bar which keeps the diamonds white. Then point B closes level to A which also keeps it white. If that would have closed up it would have been green.

Then we see Point C is white as well because it closes below the MA after a close above it. But then look at the next bar. It's wide range up and goes straight to green (blue in my case) because of my MA envelope theory."

Share this post


Link to post
Share on other sites

jj

there are lots of good trades in the morning to worry @ missing one is silly. Just get ready to enter the next one. and it depends on what time frame you are trading... on the 512 tick you could market at close of signal bar using a tick counter and still get 5 points. on a large time frame you can anticipate the xup or x down. on the fast time frame like the 144 u need the limit order to guarantee the the 4 points that that chart will pay 9 times out of 10. it works best in a fast moving market! try it a minute or so after a report... you will be filled and out in 2 seconds. TS wont even show trading at your fill and you are inanddone. I personally cut 3/4 of a position out at the 4 ticks. on the 144 tick I try to go 1 tick below where the 5 ema would be. if the trade is stalling at half way through the 3rd bar I will exit market. usually if you don't get the target, the market is going to go the other way.

this is where the tape reading could really help I think. Soultrader seems to have that beat. you could prob get better entries off tape. I just ordered a couple of books recommended here on the website. mind over markets and wyckoff for tape reading.

When I started playing the 512 tick... there was a lot less entries but larger stops? the location of the stop is also set by looking at past history of x overs.

Anthony

Share this post


Link to post
Share on other sites
Blu-Ray, I'm just trying to make your life difficult. But here's another condition for you that will explain some of the white diamond action.

As you can see in the attached pic, point A should be "green" (mine are blue) because it's the 2nd close above the MA. But it closes below the previous bar which keeps the diamonds white. Then point B closes level to A which also keeps it white. If that would have closed up it would have been green.

Then we see Point C is white as well because it closes below the MA after a close above it. But then look at the next bar. It's wide range up and goes straight to green (blue in my case) because of my MA envelope theory.

 

So did I ruin your weekend thinking about programming this? lol

 

 

Hehe, thanks JJ, yes my mind never switches when trying to solve a code.:o

 

With regards to the chart you posted, Blowfish has replied a few posts ago about this and that was the way I coded the revised version of it. For example using your chart posted,

 

Point A = close is above MA, however MA is lower the MA of 1 bar ago.

Point B = same as point A

Point C = MA is greater than MA of 1 bar ago , however close is lower than MA.

 

If you get a chance, could you post some more charts, but could you state the timeframe and also the session start time ( Just so I can get an exact match )

 

Cheers

 

Blu-Ray

Share this post


Link to post
Share on other sites
Blu-Ray: My question : once the bar closed, the diamonds will not change color ? no repainting ? nice job Blu-Ray ( as usual )... cheers Walter.

 

Thanks Walter, Yes once the bar has closed there is no repainting, the diamond / cross will stay the same color.

 

Cheers

 

Blu-Ray

Share this post


Link to post
Share on other sites

 

If you get a chance, could you post some more charts, but could you state the timeframe and also the session start time ( Just so I can get an exact match )

 

Cheers

 

Blu-Ray

 

 

I'm just seeing this thread now. I didn't get an email saying there was a response. Hmmm.

 

Here's some more charts. I put up a few daily well know charts to make it easy on you followed by a 2min ES chart from today. I'm Eastern Standard Time. Session starts at 9:30 for me.

msft.thumb.jpg.c55612802cfa9714f050e4995a875678.jpg

intc.thumb.jpg.01befc7639390b9c4b1e29a53465a101.jpg

5aa70e2852d00_es2min.thumb.jpg.f21616f0e83e4832916c2f1bc39a1684.jpg

Share this post


Link to post
Share on other sites

Through Trial and error I reproduced the Relative Volume Bands from TGuider if anyone is interested. I'll post a screenshot.

The only thing I don't know how to do and don't even know if it can be done is that as volume is increasing, the average lines will get thicker thus increasing the range that would be considered average.

You'll have to tell me if it can be done Blu-Ray. As is though it is a very good representation.

5aa70e2857f55_relativevolumebands.jpg.24b77e57bb39a77da1d51220a6491c2c.jpg

Share this post


Link to post
Share on other sites
I'm just seeing this thread now. I didn't get an email saying there was a response. Hmmm.

 

Here's some more charts. I put up a few daily well know charts to make it easy on you followed by a 2min ES chart from today. I'm Eastern Standard Time. Session starts at 9:30 for me.

 

 

JJ, I think you do this on purpose, drop it on me for the weekend ;) :o

 

Thank for the charts, I'll mull over them during the weekend

 

Through Trial and error I reproduced the Relative Volume Bands from TGuider if anyone is interested. I'll post a screenshot.

The only thing I don't know how to do and don't even know if it can be done is that as volume is increasing, the average lines will get thicker thus increasing the range that would be considered average.

You'll have to tell me if it can be done Blu-Ray. As is though it is a very good representation.

 

If you can send me the code, I'll take a look at it, I have an idea on how to get around this, but would need to know, if possible, what the parameters are for the thickening of the lines.

 

 

Cheers

 

Blu-Ray

Share this post


Link to post
Share on other sites

Thanks Blu-Ray. I will send the code as soon as I boot up my trading computer. I don't have the parameters for the thickening but if you left an input I'd do a trial and error. It's really not that important anyway if it can't be done. I'd like to paint the whole background of the volume indicator different colours just like in my tradeguider chart examples.

Talk to you soon.

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.


  • Topics

  • Posts

    • How's about other crypto exchanges? Are all they banned in your country or only Binance?
    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

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