Lateral Formation


Lateral Formation is a price pattern where
bar 2 and bar 3 are within the HL of the 1st bar.

The Lateral will continue until 2 consecutive closes outside of the
1st bar HL in the same direction.

for background discussions, please visit:
http://www.traderslaboratory.com/for...ship-6320.html





note:
This EasyLanguage indicator was written in MultiCharts.
I have not tested it in tradestation or other compatible programs.
Please refer to your users manual for importation instructions.

[ajax358]

Tams,
thx again....is a great indicator. I cannot post a chart pic, as my trading puter is the other puter, & keep them isolated for security reasons. I do not know how to post to another off site, as am limited geeky, but a wannabe.....

The issue I have with the charts, is that if I re-load the charts, or, say change a time frame & they re-load....then the lines for the 'lateral formations' go laterally 'backward' in time....back across the chart, so there then is a whole bunch of parallel lines as I scroll back on the chart....gets very eye messy is all.

Other than that, it works great & I use it for day trading ; use it for breakouts of the lateral range & have found that the 'SAR indicator' is generally poised at the end of one of the lines, & equals my entry point....so I stock the entry & hoover over it, then click & go.

Again, the only issue is that it prints the lines back in time & fills up the chart(s). Suspect that is a code issue, but have no skills here to address it. Thx again for a great indicator & if ya post an updated version beyond beta, I will load it immediately.....

ciao....ajax

[supergonzo]

Thks, Tams but this indicator plots on tradestation 8.7 BUT, the lateral lines continue all the way across the screen, without stopping? Anyway to fix that??

[Tams]

Originally Posted by supergonzo »

Thks, Tams but this indicator plots on tradestation 8.7 BUT, the lateral lines continue all the way across the screen, without stopping? Anyway to fix that??

Please give this a try.
I do not have tradestation anymore, so I have not tested it.

89.75

[Tams]

Originally Posted by supergonzo »

Thks, Tams but this indicator plots on tradestation 8.7 BUT, the lateral lines continue all the way across the screen, without stopping? Anyway to fix that??

I just looked at your chart again...
sorry, this indicator is for minute charts only.

[ajax358]

yup, my problem in above question to the master....

[ajax358]

sorry, somehow was above your reply Tams, so replied to wrong one. Thx for clarification. Yes I use "tick" charts, so there maybe the issue then.
thx...ajax

[ajax358]

Tams.....just copied the #3 version to TS & made an indicator......loaded it on charts....at first, the tabs blinked out whe tried to click on them...then re-loaded the indicator, & it worked just fine!! The lines to the left, are now NOT across the charts now! So, thx there chum, for the update, as it works great now.

I use it on all my charts, then use my Stoch/MACD primary indicators as the lead in turns, then watch for the breakout of these "lateral formation" lines, & is a killer combo in tick charts day trading.

Thx again for the update.....
ajax358

[Tams]

Originally Posted by ajax358 »

Tams.....just copied the #3 version to TS & made an indicator......loaded it on charts....at first, the tabs blinked out whe tried to click on them...then re-loaded the indicator, & it worked just fine!! The lines to the left, are now NOT across the charts now! So, thx there chum, for the update, as it works great now.

I use it on all my charts, then use my Stoch/MACD primary indicators as the lead in turns, then watch for the breakout of these "lateral formation" lines, & is a killer combo in tick charts day trading.

Thx again for the update.....
ajax358

thanks,
a screen shot is appreciated.