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dpQGPv2

Oscar Wilde said imitation is the sincerest form of flattery. So with thanks to the QG Better Channel authors, I have taken that indicator and modified it to better serve my trading style. Here's my dpQGP- QGPair. It is now a pair of channels, fast (Trend1 and Trend2) and slow (Trend3 and Trend4), and as price moves around those channels, signals are generated. Everything is available for your tweaking: channel coloring, signal type/color/size, channel upper and lower parameters.

In the Properties, there is a property named 'ContinuationSignals' and it has a numeric input. That number is the number of bars allowed between price falling below Trend1 and rising back above it for long signals, or price rising above Trend1 and then falling back below Trend1 for short signals. It will become clear when you see it on your chart.

There is a Toggle on the Control line at the top of the chart with options of Off, Single, and Double.
Off = no signals painted
Single = only Trend1 is considered for a signal to paint
Double = Trend1 AND Trend3 must be in agreement for a signal to paint.

You can fine tune the channels by altering their length properties which will make the channels either closer to price action or farther away. Although shown on a 144 tick chart, it works on any time period or tick period, Renko, etc.

I hope you find it useful. As always, please leave some feedback (private or public), good or bad, as it gives me ideas for making it better. Thank you. Dave P.

UPDATE! dpQGPv2 is here. May 26, 2024
It's hard to mess with something that is this useful, but I did.
Under the Parameters A properties, you will now find some options for smoothing the Trend1 cloud.
I've also added the ability to use sound files, so the chart can talk to you.
And in addition to the existing continuation signals, I've added Proximity Alert signals (Thank you Star Trek).
Although it may seem obvious, you want to initiate a trade when both trends are in agreement, and when price has pulled back to the Trend2 area.
You should ALWAYS be looking to take the trade at the 'best place to be wrong'- and not while price is extended- that means your stop loss is close by and it won't ruin your day if it gets hit.

Many thanks to all who wrote in offering suggestions. As usual, please leave some feedback. Thank you. Dave P.

UPDATE on June 19, 2024.
Gulp! It looks like my earlier 'update' was my original v1. I apologize for that mistake. This IS version 2, even though when it loads into NT8 it will still say 'dpQGP.' Again, very sorry for the inconvenience. And a shout out to Peggy for finding the error!

Category NinjaTrader 8 Indicators and More

Details: dpQGPv2
Category: NinjaTrader 8 Indicators and More

July 24th, 2023
Size: 20.45 KB
Downloaded: 1521 times

Comments/ratings

topdogtony September 15th, 2023 04:16 PM

Greetings again I've been testing your work, great job this has potentials are you able to create a strategy with the ability to use user settings ATM? Please advsee.

Truly,
Tony D

TraderTS September 27th, 2023 05:16 AM

This is an excellent indicator that keeps me on the right trend. I cannot trade intraday without it.
Thanks a million!

traderbradg September 30th, 2023 11:07 AM

Great indicator, really appreciate your work.. Thanks again

qwiksilver96 October 7th, 2023 11:16 AM

No Comment

Celinhuw October 10th, 2023 10:53 PM

No Comment

Celinhuw October 10th, 2023 10:53 PM

Thank you!

dadtrader3 October 13th, 2023 12:14 PM

I use your Indicator signals to enter the trade on Renko bars. It works very well. I was wondering if the single or double signals have a input number for Blackbird, blood hound? Its a highly talented work. Thank you

kathy11 October 21st, 2023 02:42 PM

I really like this, ty for sharing it. It would (imho) make a great bot ... definitely not my expertise ... but ... just sayin.
Thanks again!
Kathy

Michael October 24th, 2023 01:27 PM

Thank you for sharing your great work. Wish I could contribute but this is beyond my scope. Cheers

sparky November 8th, 2023 03:50 PM

Great for pullback entries. Good for trailing stops. I mark crossovers with bloodhound and use it for possible entries. Thanks ever so much

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