[daedalus]

Ok, well i rely heavily (and solely) on the ValueChart indicator to tell me when go situations prevail to take retracement trades.

I found a NinjaTrader version on this website: http://www.ninjatrader-support.com/v...ad.php?p=39817

Post #8, but i think you have to register. Throw that up on your charts... i think it just might revolutionize your trading. Its the best indicator i've ever come across and is VERY powerful for retracement trading.

[jonbig04]

Originally Posted by daedalus »

Ok, well i rely heavily (and solely) on the ValueChart indicator to tell me when go situations prevail to take retracement trades.

I found a NinjaTrader version on this website: http://www.ninjatrader-support.com/v...ad.php?p=39817

Post #8, but i think you have to register. Throw that up on your charts... i think it just might revolutionize your trading. Its the best indicator i've ever come across and is VERY powerful for retracement trading.

Awesome, I will check it out. Thanks for your help.

[jonbig04]

I'm finding a lot of interesting info. It's slow work, but the results have been pretty interesting.

Basically I'm finding a few things that happen 50%-60% of the time before, or during a RET. I haven't yet cross checked them together, but I soon will. I guess I'm just glad that there seems to me a method to all the madness when you really sit down, concentrate, and manually and methodically sift through all the info that's there in the PA/V for you to see. Maybe I'm getting somewhere.

Maybe not. haha


Is there someway I can create my own indicator without being a computer super genius...based on VOL and PA. I.E. price does this with vol doing this along with this etc and indicator lights up...something like that?

[IT-Trader]

Firstly I've been reading your blog with much interest. The frustration of banging your head against a wall for months on end is something I know well and am still working through. So much is written about the psycological aspects but it seems to get forgotton that the best discipline in the world won't help you win if you have a negative expectancy system.
Developing and defining that system explicitly is a huge challenge.
Anyway, this is your journal. I just wanted to say that you're not alone fighting this. On to the purpose of my post...

Originally Posted by jonbig04 »

Is there someway I can create my own indicator without being a computer super genius...based on VOL and PA. I.E. price does this with vol doing this along with this etc and indicator lights up...something like that?

In short, yes but.....
It depends on exactly what you want to look for.
The work breaks into two parts, the first is writing the 'logic' out to define exactly what you want to look for. Then the second part is coding it up.

Lets pick something simple like a volatility breakout.
The 'logic' is say
- find the average range over the last 10 bars
- if this bars range is 2x average range then flag this bar as 'volatile'.

Then you have the fun of coding it! ...which depends on exactly which package you use etc.

You can also add criteria such as "...and closes on its high/low" or "...and on above average volume".

To start with you can use something like Sierra Charts so you can code this stuff up using Excel which makes life easy for relatively simple ideas. Unfortunately it quickly gets complicated, defining things we can easily see in 'cold computer terms' is often waaaay more difficult that it first seems.
I've been doing just this kind of thing lately (the simple stuff) to highlight bars that meet certain critera. I'm far from an expert in indicator writing but I'm happy to help if I can.

ITT.

[BlowFish]

Originally Posted by jonbig04 »

I'm finding a lot of interesting info. It's slow work, but the results have been pretty interesting.

Basically I'm finding a few things that happen 50%-60% of the time before, or during a RET. I haven't yet cross checked them together, but I soon will. I guess I'm just glad that there seems to me a method to all the madness when you really sit down, concentrate, and manually and methodically sift through all the info that's there in the PA/V for you to see. Maybe I'm getting somewhere.

Maybe not. haha


Is there someway I can create my own indicator without being a computer super genius...based on VOL and PA. I.E. price does this with vol doing this along with this etc and indicator lights up...something like that?

Good work! You will probably find you have to back track a bit and needless to say will have other hurdles in your path but sounds like you are working purposefully towards a goal which is great!

There are a couple of volume indicators that do what you want. If you search here you will find one that works similar to tradeguiders. You might search for 'hawkeye volume indicator'. To be honest you will probably find you don't really need them - though a simple moving average of the volume might help visually. I think you use Ninja right? Those two might be TS only. Ninjatrader has a 'better volume indicator" by the guy over at e-mini watch. You can get a version at the NT website. Never used it but sounds like what you want.

The problem is unlikely to be identifying 'high' or 'low' or 'declining' volume but interpreting it in context. Be sure to ask yourself 'what do I want from this indicator' and 'is it providing this'.

Cheers,
Nick.

[jonbig04]

Originally Posted by IT-Trader »

Firstly I've been reading your blog with much interest. The frustration of banging your head against a wall for months on end is something I know well and am still working through. So much is written about the psycological aspects but it seems to get forgotton that the best discipline in the world won't help you win if you have a negative expectancy system.
Developing and defining that system explicitly is a huge challenge.
Anyway, this is your journal. I just wanted to say that you're not alone fighting this. On to the purpose of my post...



In short, yes but.....
It depends on exactly what you want to look for.
The work breaks into two parts, the first is writing the 'logic' out to define exactly what you want to look for. Then the second part is coding it up.

Lets pick something simple like a volatility breakout.
The 'logic' is say
- find the average range over the last 10 bars
- if this bars range is 2x average range then flag this bar as 'volatile'.

Then you have the fun of coding it! ...which depends on exactly which package you use etc.

You can also add criteria such as "...and closes on its high/low" or "...and on above average volume".

To start with you can use something like Sierra Charts so you can code this stuff up using Excel which makes life easy for relatively simple ideas. Unfortunately it quickly gets complicated, defining things we can easily see in 'cold computer terms' is often waaaay more difficult that it first seems.
I've been doing just this kind of thing lately (the simple stuff) to highlight bars that meet certain critera. I'm far from an expert in indicator writing but I'm happy to help if I can.

ITT.

It seems like it would be complicated. I have not the faintest clue about writing, but it would be nice to let the computer do some of the recognizing, but I suppose it will be good for me to do it all manually first, i just hope everything doesn't slip away in the time it takes me to figure out where everything is at. I just discovered replay on ninja which is pretty badass. I'm sure I will be using that tomorrow. Thanks for the help.

[jonbig04]

Originally Posted by BlowFish »

Good work! You will probably find you have to back track a bit and needless to say will have other hurdles in your path but sounds like you are working purposefully towards a goal which is great!

There are a couple of volume indicators that do what you want. If you search here you will find one that works similar to tradeguiders. You might search for 'hawkeye volume indicator'. To be honest you will probably find you don't really need them - though a simple moving average of the volume might help visually. I think you use Ninja right? Those two might be TS only. Ninjatrader has a 'better volume indicator" by the guy over at e-mini watch. You can get a version at the NT website. Never used it but sounds like what you want.

The problem is unlikely to be identifying 'high' or 'low' or 'declining' volume but interpreting it in context. Be sure to ask yourself 'what do I want from this indicator' and 'is it providing this'.

Cheers,
Nick.

That makes a lot of sense. Really I was looking for a way to enter my own discoveries into the computer, creating my own indicators if that makes sense. Who knows though. I will check out the ones you mentioned.

[jonbig04]

Does T/A keep anyone else up at night. Its all thats in my head.