These two strats -- one for long only entries one for short only entries -- allow a trader to, by simply clicking on the button for long entries or button for short entries, immediate initiate a position that will automatically also enter profit target and stop limit orders (which adjust on each tick).
The strats also have a red line for the stop order price and green line for the profit target order price, each that adjust on each tick.
These strats are helpful if you want to manual enter the market at a particular time, based on one or more indicators that guide you, but do so quickly and have your stops and profits automatically programmed. a way to make sound decisions on entries and still have limited human judgment and emotion play a role in exits.
The profit targets and stop order prices, once a trade is open, cannot be adjust like they can if you were using the Ninja chart trader function.
Very useful in fast moving markets too -- quick entries and continued quick move in your directions takes you out for a profit without having to waste time and energy thinking about exit prices.
On this site, someone posted a "Congestion Box For Range Bars" indicator. The attached is a strategy that takes signals based on the congestion box concept, but slightly different in that this strat takes a trade long or short on the bar immediately following the last bar in the congestion box. Currently, the strat is coded so that it runs on currency futures (6A, 6E, etc.) or crude futures (CL). You'd have to adjust the breakeven, stop and profit targets by multiplying by 10, I believe, to run on spot fx.
The strat entry condition is a (crappy, suggest replacing with something more reliable) ParabolicSAR signal. You can replace it with whatever you wish -- the intent here is to provide the "scaling-in" code/architecture.
Here's a link to a video that demonstrates this precise scaling-in strategy.
Here is the Basic Version of the Donchian Channel that I had modified, as far as I know this version is working fine. The screen shot attached will show how I changed the plots as seen. I hope you might be able to use this on any market you trade and is not set to be only used on the ES, everything is rounded to the nearest tick and with the off set inputs you should be able to put on any chart or market.
Thanks to everyone that posts indicators in this section and I'm glad I am finally able to add something I find of value.
I am running this on NT7 so I don't know if it will run on earlier versions
A simple and classic momentum oscillator from Dr. Alexander Elder. This optimized version has the same features as the one that was posted on the Ninjatrader forum, with the added option of using the WMA.
However, the version on the Ninjatrader forum, aside from the usual inefficient method of making calls to external classes (that people everywhere, including here are so fond of) also had a crude and primitive method for selecting the types of MA's to be used, which I replaced with Enums. This was one of the worst programmed indicators that I have found so far.
Attached an example to use it on strategy analyzer for backtesting. Left mouse click will go to previous execution and right mouse click will go to next execution
Updated with V2a, corrected only the channel type names (for technical correctness).. Donchian Channel is the Highest/Lowest for a period, which produces a boxy-looking channel.. that's my favourite (google Donchain system). i don't know a technical term for the channel when you take an EMA of highest/lowest which produces a curvy-type channel, so i refer to it as DonchianEMA. the rest is the same .. no calculation changes...
Here's a "Swiss Army Knife" study for fellow ToS'ers .. big thank you to my good forum friend, HGuru, for helping me complete this ...
this is a many-in-1 study, that provides a choice of price channel of many that are commonly used (Keltner, Highest/Lowest, Elder, Keltner, Bollinger..etc), and provide 2 types of signals, based on momentum of 2 EMA lengths of price (Length & Fast_Length):
1 - the primary Momentum signal is based on the main length you set in the study, and is reflected in the color of the price channel itself (green = Up = go Long, red = Down = go short, yellow = retrace or "in-transition")
(pls remember this is momentum and not trend .. though the study has the word "Trender" in the name)
2 - the secondary signal is based on momentum of the fast length EMA. and is only Up or Down. (i would usually take Up position in a green channel or down position in Red channels, so maintain direction with the primary momentum)
there are many other settings we built-into the study to play with and customize for improved visualization. better visual = better decision.. you see in the screenclip how many "personalities" we can get with different options. from settings you can do anything from hiding all elements and leaving only the secondary signals, to fully using it as your trading system, if your system is built around ATR or BB, with the added benefit of the momentum signal. you can combine with other studies you have (i'd suggest a trend following study) for a compact system that won't require lower plots (beside volume if you need it).
the calculation/CPU load this study requires isn't that much, even though it looks packed.
Settings to change length, Fast, Channel Type, the factor for the channel (for BB this would be the StDev, for Keltner the ATR factor, for Shifted EMA's the percentage...etc) - Hide the channel shading, hide/show the lines (the EMA's, the mid-channel, channel bands..etc)
there's an aggressiveness factor built in that we can set - basically this is like saying, "if the Fast Trend is decreasing and becomes less than 10%, this is as good as a negative momentum, and i want to trigger a signal to go short". Leave at 0 until you test this in your own setup and get comfortable with it.
the code is commented, and i'd ask to please keep this study only within BMT as it took a lot of work.
April 17th, 2014 07:54 AM TickMonster Amazing indicator. Thank you a lot.
June 16th, 2013 06:45 PM nakachalet
December 14th, 2012 08:48 PM Future4 I have only back-tested your strategy so far, and it works best with "Unirenko" like T3R4O3. Thank you for your effort.
November 27th, 2012 01:45 PM brevco
November 27th, 2012 01:37 PM brevco They seem to work with Hybrid Renko also.