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.

wsam29

TTM/DDF Value Chart

Recommended Posts

Hello friends. I attended Dr. Clayburg's webinar, sponsoed by TTM, where he introduced the directional day filter. Here is the link to the webinar:

 

http://clicks.aweber.com/y/ct/?l=BDKEF&m=1kGtTitkhcE55r&b=H9bwqdN096LC3h43oVEZ8w

 

And here is other info about it that was emailed to me:

 

For the complete, online manuals for the Directional Day Filter,

the Market Direction Indicator and the TTM Real Time Target (RTT)

Indicators click the link below.

 

http://clicks.aweber.com/y/ct/?l=BDKEF&m=1kGtTitkhcE55r&b=eSl4QVeEZ1keK.aymT7vhg

 

 

John Clayburg's Indicator Tips:

 

You will find links for manual for each indicator on the frame on

the left side of the chart. You will also find links there to a

number of charts which detail the use of these trading tools.

 

After studying these examples closely, it will be obvious that

there are many ways to interpret them from a trading standpoint.

 

I find that the most reliable method of using these tools is to use

the Directional Day Filter and the Market Direction Indicator to

determine the major trend of the day. If, for example, 45 - 60

minutes into the trading day the Directional Day Filter and the

Market Direction Indicator are pointing toward an uptrend for the

rest of the day, you can feel confident in taking a long position

at this point.

 

As you know, entering a trade is only the first half of the equation

- now you need a reliable exit strategy. That's where the Real time

Target indicator becomes useful.

 

In our previous example of a long position, one can reliably place

a profit target exit on the upper green line formed by the

indicator. The red line drawn below the price bars will serve as a

stop loss point.

 

My research shows that these price targets are hit on an average of

75 % of the time, making this indicator extremely useful as a

profit taking tool. On the days when the price target is not hit,

the opposite line provides a reasonable stop loss point.

 

This short discussion is only meant as an introduction to the use

of these indicators. You should first carefully study the manuals

(see link above) before formulating a trading strategy based on

these tools.

Share this post


Link to post
Share on other sites

Great stuff here!

 

I use Wealth-Lab and I am not a programmer. Anybody else here having tried to get this Value Chart indicator coded for WL(4)?

 

Also a chance to get this to work in QuoteTracker?

 

Thanks!

Share this post


Link to post
Share on other sites

The creator of the Value Charts indicator was Mark Helweg. He graciously gave the code to the folks at Tradethemarkets to be used with attribution. Unfortunately TTM did some tweaking, rebranded it "TTM Value Charts" and now it's hard to find Helweg's name anywhere!

Share this post


Link to post
Share on other sites
possible to get Directional Day Filter Indicator or trading system for Tradestation, please.
If you are referring to just the Clayburg DDFilter, Stratman, Abaris et al has done a copy in this thread on the TS forum.

TTM and Clayburg, on the other hand, has combined DDF with Value Charts and came up with a mixed system which you have to buy from either one of them.

Share this post


Link to post
Share on other sites

thrunner,

 

Thank you for your quick answer ... that is what I am looking for ... But I have no access into a Tradestation forum ...

 

Is it possible post it here, please.

 

Thank you.

rollandr

Share this post


Link to post
Share on other sites
thrunner,

 

Thank you for your quick answer ... that is what I am looking for ... But I have no access into a Tradestation forum ...

 

Is it possible post it here, please.

 

Thank you.

rollandr

Hellweg has a website where he gives the indicator away (at least he did) but I haven't been able to re-locate it. I can't export it from TS. I can give you the easy language code:

 

 

{*******************************************************************

Description : This Indicator plots Value Chart prices.

Provided By : Mark W. Helweg © Copyright 2001

********************************************************************}

 

Inputs:NumBars(5);

Variables:Vopen(0),VHigh(0),VLow(0),VClose(0),Var1(0),Var2(0);

Var: VcloseLam(0),ValueSOB(" "),ValueMOB(" "),ValueMOS(" "), ValueSOS(" "), ValueFair(" "), lastdate(0);

 

 

{Calcualte Value Chart}

VOpen = VChart(NumBars,Open);

VHigh = VChart(NumBars,High);

VLow = VChart(NumBars,Low);

VClose = VChart(NumBars,Close);

 

{Plot Value Chart - Disregards the first 20 bars because Omega doesn't process them correctly}

If BarNumber > Numbars then Begin

Plot1(VOpen,"VOpen");

Plot2(VHigh,"VHigh");

Plot3(VLow,"VLow");

Plot4(VClose,"VClose");

End;

 

// Value Chart Lines

Inputs:Top(8),TopMid(4),BottomMid(-4),Bottom(-8);

 

 

Plot5(Top);

Plot6(TopMid);

Plot7(BottomMid);

Plot8(Bottom);

Share this post


Link to post
Share on other sites
Hi guys,

 

Is possible to get Directional Day Filter Indicator or trading system for Tradestation, please.

 

Thanks.

Rolland

 

Here's the DDF and Value charts right from TTM. Enjoy.Value Charts calculations were actually freely given in Helwegs book and can be recreated in any programing language. I actually put them in Ninja as well just from the calc in the book.

TTM DDF.ELD

TTM VC.ELD

Share this post


Link to post
Share on other sites
Here's the DDF and Value charts right from TTM. Enjoy.Value Charts calculations were actually freely given in Helwegs book and can be recreated in any programing language. I actually put them in Ninja as well just from the calc in the book.

 

VC was imported and compiled successfully in Multicharts, but DDF did not. Would it be possible to post a code of TTM DDF? Thank you in advance.

Share this post


Link to post
Share on other sites
VC was imported and compiled successfully in Multicharts, but DDF did not. Would it be possible to post a code of TTM DDF? Thank you in advance.

 

Here's one I've coded up using the same color reference at TTM. As with TTM's, it will only work ( give a true reading ) on a 5 min chart. It has two inputs, depending on which timezone your in, set the first one to the close of the 1st 5 min bar and the endtime input to the 60 min mark ( eg. 0935/1030 EST, 1435/1530 UK )......added bonus, it will even recolor the dots previous to the endtime mark ( Something TTM's doesn't do )

 

Hope this helps

 

Blu-Ray

 

attachment.php?attachmentid=6166&stc=1&d=1208939316

 

 

Inputs:

FiveMinutes(0935),Endtime(1030),UpColor(Blue), DnColor(Red);

 

Vars: Color(0),HH(0),LL(0),Avg(0),VertTL(0),Midp(0);

 

if time = fiveminutes then begin

HH = High;

LL = Low;

end;

 

if time <=endtime then begin

if high > HH then HH = High;

if Low < LL then LL = Low;

end;

 

if time = Fiveminutes then

avg = (high-Low)/2 + Low;

 

if time =endtime then Value1 = average((H+L+C)/3,12);

 

 

if avg < value1 then color = UpColor;

if avg > value1 then color = DnColor;

if avg = value1 then color = Yellow;

 

If time = endtime then begin

VertTL = TL_New(Date,endtime,LL,Date,Endtime,HH);

TL_SetColor(VertTL,Color);

TL_setsize(VertTL,1);

end;

 

if time >=endtime and time < sessionendtime(0,1) then

Plot1(avg,"5MinAvg",Color);

 

if time = endtime then begin

Plot1[1](avg,"5MinAvg",Color);

Plot1[2](avg,"5MinAvg",Color);

Plot1[3](avg,"5MinAvg",Color);

Plot1[4](avg,"5MinAvg",Color);

Plot1[5](avg,"5MinAvg",Color);

Plot1[6](avg,"5MinAvg",Color);

Plot1[7](avg,"5MinAvg",Color);

Plot1[8](avg,"5MinAvg",Color);

Plot1[9](avg,"5MinAvg",Color);

Plot1[10](avg,"5MinAvg",Color);

Plot1[11](avg,"5MinAvg",Color);

end;

 

if time >=fiveminutes and time < endtime then

plot2(avg,"avg",Magenta);

ddf.png.7bc92ee4ca38dbadcdc51691eb177f79.png

DDF.ELD

Share this post


Link to post
Share on other sites
Hi blu-ray, what is Da? ( line 27)is this Ts word?

 

thanks

 

 

Hi

 

Sorry it's just the way the code has pasted ( as there's no space after the comma ) and it does this sometimes. It's " Date" .

 

Cheers

 

Blu-Ray

Share this post


Link to post
Share on other sites
Here's the DDF and Value charts right from TTM. Enjoy.Value Charts calculations were actually freely given in Helwegs book and can be recreated in any programing language. I actually put them in Ninja as well just from the calc in the book.

JJ,

 

I noticed you said you had put the Value Chart into Ninja. Would you be willing to post this please ?

 

If not, I will attempt it myself but hate reinventing wheels, especially if I make it square !

 

Thanks,

Eric

Share this post


Link to post
Share on other sites
JJ,

 

I noticed you said you had put the Value Chart into Ninja. Would you be willing to post this please ?

 

If not, I will attempt it myself but hate reinventing wheels, especially if I make it square !

 

Thanks,

Eric

 

Ya, not point in reinventing the wheel. I'll post it once I'm on my trading computer.

Share this post


Link to post
Share on other sites

jj, thank you for the contribution, but this is probably the wrong indicator that was initially attached. There is no code for OnBarUpdate(), so it doesn't plot. Ninjatrader 6.5 doesn't support plotting of synthetic bars natively, so overriding the plot method is normally required for OHLC values :

    [Description("Enter the description of your new custom indicator here")]
   [Gui.Design.DisplayName("jjvaluecharts")]
   public class valuecharts : Indicator
   {
       #region Variables
       // Wizard generated variables
           private int numbars = 5; // Default setting for Numbars
       // User defined variables (add any user defined variables below)
       #endregion

       /// <summary>
       /// This method is used to configure the indicator and is called once before any bar data is loaded.
       /// </summary>
       protected override void Initialize()
       {
           Add(new Plot(Color.FromKnownColor(KnownColor.Orange), PlotStyle.Dot, "Vhigh0"));
		Add(new Plot(Color.FromKnownColor(KnownColor.Orange), PlotStyle.Dot, "Vlow0"));
		Add(new Plot(Color.FromKnownColor(KnownColor.Orange), PlotStyle.Dot, "Vclose0"));
		Add(new Plot(Color.FromKnownColor(KnownColor.Orange), PlotStyle.Dot, "Vopen0"));

           CalculateOnBarClose	= false;
           Overlay				= false;
           PriceTypeSupported	= true;
       }

       /// <summary>
       /// Called on each bar update event (incoming tick)
       /// </summary>
[color="DarkOrange"]        protected override void OnBarUpdate()
       {
           // Use this method for calculating your indicator values. Assign a value to each
           // plot below by replacing 'Close[0]' with your own formula.

        }[/color]

Share this post


Link to post
Share on other sites

There is no code in the OnBarUpdate() in my attached indicator? If not then there must have been an export problem and I'll redo. Please confirm that it came through empty.

Also I worte this with 6.0 and stopped using Ninja after that so there's no 6.5 support. But all the calculations are there and if little tweaks are needed I'm sure you can do it.

Share this post


Link to post
Share on other sites

Sorry guys, when I was developing the indicator I forgot I named it "a" to keep it at the top of the list. Please let me know if this one works. If it does not then I have another version I named "b" which may be the 'final' but I think 'a' is. Sorry about the confusion. I'm pretty sure both the attached are the same but since the one named final had been in my export folder since I created the value charts I'm guessing I named it that because it was the final.

Enjoy, for real this time:)

VC.zip

ValueChartFinal.zip

Share this post


Link to post
Share on other sites

Hi guys,

I'm newbie here,so any help would be appreciated.I'm using a simulator from Open E cry and they have a custom indicator funtion that they said it could use TS EL files,does anybody have The value chart file for OEC willing to share it.

Thanks ,you guys have a grat forum here,keep it up:crap:

Share this post


Link to post
Share on other sites

Thanks for the link to the webinar,the problem is that OEC would not open an ELD from tradestation,I already had this.What I need is the code post for OEC to import it.I believe that this feature is fairly new to OEC and dont really know anything about coding.

I though somebody may have it coded already.

Thanks anyway,and good trading to everybody.

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

    • Date: 29th March 2024. GBPUSD Analysis: The Pound Trades Higher But For How Long? The global Stocks Markets are closed due to Easter Friday (Good Friday). The NASDAQ continued to follow the sideways trend while other indices again rose. The SNP500 reaches an all-time high, but the NASDAQ remains under pressure from Tesla, Meta and Apple. The Euro continues to trade lower against all major currencies including the US Dollar, Euro and Japanese Yen. The British Pound is the best performing currency during this morning’s Asian session. However, investors are largely fixing their attention on this afternoon’s Core PCE Price Index. GBPUSD – The Pound Trades Higher but For How Long? The GBPUSD is slightly higher than the day’s open and is primary due to the Pound’s strong performance. At the moment, the British Pound is increasing in value against all major currencies. However, the US Dollar Index is also trading 0.10% higher and for this reason there is a slight conflict here. If investors wish to avoid this conflict, the EURUSD is a better option. This is because, the Euro depreciating against the whole currency market avoiding the “tug-of-war” scenario. The GBPUSD is trading slightly lower than the 2-month’s average price and is trading at 49.10 on the RSI. For this reason, the price of the exchange is at a “neutral” level and is signalling neither a buy nor a sell. The day’s price action and future signals are possibly likely to be triggered by this afternoon’s Core PCE Price Index. Analysts expect the Core PCE Price Index to read 0.3% which is slightly lower than the previous month but will result in the annual figure remaining at 2.85%. The PCE rate is different to the inflation rate and the Fed aims for a rate between 1.5% to 2.00%. Therefore, even if the annual rate remains at 2.85%, as analysts expect, it would be too high for the Fed. If the rate increases, even if only slightly, the US Dollar can again renew bullish momentum and the stock market can come under pressure. This includes the SNP500. Investors are focused on the publication of data on the UK’s gross domestic product (GDP) for the last quarter of 2023: the quarterly figures decreased by 0.3%, and 0.2% over the past 12-months. This confirms the state of a shallow recession and the need for stimulation. The data, combined with a cooling labor market and a steady decline in inflation, increase the likelihood that the Bank of England will soon begin interest rate cuts. In the latest meeting the Bank of England representatives did not see any members vote for a hike. USA500 – The SNP500 Rises to New Highs, But Cannot Hold Onto Gains! The price of the SNP500 rises to an all-time high, before correcting 0.33% and ending the day slightly lower than the open price. Nonetheless, the index performs better than the NASDAQ which came under pressure from Tesla, Meta and Apple which hold a higher weight compared to the SNP500. For the SNP500, these 3 stocks hold a weight of 9.25%, whereas the 3 stocks make up 14.63% of the NASDAQ. The SNP500 is also supported by ExxonMobil’s gains due to higher energy prices. The market will remain closed on Friday due to Easter. However, the market will reopen on Monday for the US and investors can expect high volatility. Investors will also need to take into consideration how the PCE Price Index and the changed value of the US Dollar is likely to affect the stock market next week. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
    • $SOUN SoundHound AI stock at 5.91 support area , see https://stockconsultant.com/?SOUN
    • $ELEV Elevation Oncology stock bull flag breakout watch , see https://stockconsultant.com/?ELEV
    • $AVDX AvidXchange stock narrow range breakout watch above 13.32 , see https://stockconsultant.com/?AVDX
×
×
  • Create New...

Important Information

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