Rubber Band Indicator - Traders Laboratory Forums

Rubber Band Indicator · **Released**: 02-21-2009

How to use: Wait for the purple lines to expand, showing a over sold or bought condition. When the red line crosses through the top or bottom purple band, go long or short.

daedalus · 02-21-2009, 11:28 AM

Looks to be a really solid concept! Can I ask what its based off of? Almost looks like a modified DMI?

neal51 · 02-21-2009, 01:33 PM

Not sure where it even came from, I had this indicator since 2000i was released and always kept it because it looked to have a lot of potential. As far as what it's based on I just don't know. My original intent was to use it on a longer time frame to warn of a reversal.

neal51 · 02-21-2009, 04:33 PM

Here you can see it on a 60min chart. You can see it would be something to pay attention to when it triggers

daedalus · 02-21-2009, 08:12 PM

^^ my only complaint with it is that its very easy to see those nice "circle shaped" signals that work perfectly in hindsight and to be able to pass on the expansions that expand further or make these megaphone patterns that would chop you up... but in real time i'm thinking they would all look alike so how do you filter out the good from the bad?

Anyone got ideas for being able to spot the good expansions and pass on the bad expansions?

Tasuki · 02-22-2009, 02:01 AM

Neal,
This is a fascinating indicator. What the heck are the lines doing? What do they represent? I can't make head or tail out of the Easylanguage---"LongLeg, ShortLeg, MultiLeg, MultiW, tempSyncS" what do any of these mean?
Tasuki

monti1a · 02-22-2009, 09:01 AM

Could someone please post the code as I do not have tradestation.

TIA

garp · 02-22-2009, 11:22 AM

Quote:

Originally Posted by monti1a »

Could someone please post the code as I do not have tradestation.

TIA

See below the .txt file

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The Following 15 Users Say Thank You to neal51 For This Useful Post:
addvalue (04-11-2010), artguy (09-15-2009), cooper59 (02-20-2011), daedalus (02-21-2009), Fredd (02-24-2009), matfx (08-12-2009), pathfinder62 (12-03-2010), phhill (02-23-2009), simterann22 (08-12-2009), soulman (02-23-2009), Stat (02-19-2011), sundaram iyer (12-28-2010), Tams (02-21-2009), Trendup_ (03-11-2009), Wallan1 (12-07-2010)