
So no, this isn't the dpTurnerClassicMovies indicator! It's my dpTCM, Triple Channel Median indicator. I took the the Bollinger, Keltner, and Donchian midline/medians and averaged them into a new line. I then added my usual bells and whistles to make it more in-your-face intuitive. The picture shows my dpDPOT being used along with it. The upper and lower lines are a 1 ATR band, which is adjustable. You can fiddle with all sorts of moving averages and approximate this line, but I've done the work for you and there's a bit of real reasoning behind it. The thick median identifies the trend, the ATR boundary shows price extension and contraction, and the dpDPOT's yellow bar outlines show the ADX strength increasing while money-flow is increasing. The horizontal lines at the midline direction changeover are my validation lines which show if the changeover is being respected. The final piece of this sysem is my dpBSV (BuySellVolume) which clearly shows who is in control. Pay attention to the outline of the bar and who is on-top in the BSV. The un-outlined bars are just as important as the outlined ones as they show where strength has vanished, as during a pullback. Be prepared for return-to-trend action. Just like the current cell phone commercial and the very old Nissan commercial, I'm trying to provide everything you need, nothing you don't.
As always, please feel free to leave glowing reviews or scathing criticism. No ego here, just sharing what I find useful.
Best,
Dave P
Category NinjaTrader 8 Indicators and More
|
|
|