This is based on the Zscore Indicator submitted by MXAS, located in this section. This variation is a colored histogram reflecting overbought, oversold and above/below zero. The price input is enabled, the default is Weighted. When weighted a lot of the chop is eliminated and is very similar to the CCI with the variable factor set to .0125 instead of .015. One of the problems I have with the CCI is it's tendency to exit a trend too early. The ZcoreHistogram does a much better job of keeping me in the trend.
This was exported with NT v7.
I am not a programmer, use at your own discretion.
See preceding post by Cory, who deserves the credit for this.
Somehow I managed to find the time in my busy schedule to make sure that this would work in NT7. However, I don't have any idea how to use it! Perhaps those who have success can post their experiences with this in a thread.
9/2 - Added Color parameters for buy and sell signal bars, and also for non-signal bars. Added a setting whether or not to paint non-signal bars a certain color. 9/6 - Updated the non-trending bars, up bars are hollow, down bars are filled
BetterBrick chart style to display BetterRenko charts with classic Renko bricks.
Just import into NT, and restart NT. You should then have a "BetterBrick" type available in the chart styles in the data series window. BetterRenko bars can use any type of chart style, but this style shows the bar with Renko bricks in addition to the wick data and the correct open value for the bar.
NT 6.5: NO
NT 7.0: Yes
V2 changes the way the "live" bar is drawn. It now draws the live bar as an OHLC bar until it closes.
Just import into NT, and restart NT. You should then have a "BetterRenko" type available in the intervals in the data series window. The brick size is specified in number of ticks.
New twist on Renko to fix some of the quirks of Renko. All data is real data, so should be able to backtest with these bars. A new bar style is also available as a different download called BetterBrick, but it is not required as CandleSticks or OHLC can be used.
V2 changes alignment of first bar to be mod brickSize. In NT65, this is first bar, in NT7 it is first bar of each session.
See forum thread for more information.
NT 6.5: Yes - does not support new bar at session boundary, or new bar style
NT 7.0: Yes
December 30th, 2010 02:29 AM Mojokix So I have been using this MACD/Bollinger/CollectiveMA signals indicator and I really like it! I have been trading he EU
RUSD and EURJPY daily for almost 2 years now and I have noticed a pattern that this indicator picks up every time. Betwe
en the major market session Japan/London/ New York there tends to be a period of consolidation and then a Break Out just
before the openings! I am using it on a 10 or 15 min candle chart NT 6.5 and this indicator is usually accurate in dete
rmining which way it will break.
I would love to turn it in to a strategy but I am still struggling with learning how to make that work.
Thanks for posting it!
September 17th, 2010 05:14 PM stibflo I have tested it with NT 7 beta 21. Did not work. Just painted everey bar grey,
but did
not give any signals. I will appriciate if you will make it work for NT 7 too shodson
September 3rd, 2010 07:02 AM isarhodes Excellent work Thanks
May 2nd, 2015 12:32 PM br8080 many thanks for all the work involved to create this great indicator
October 24th, 2013 02:55 PM jino i just did a comment, the box shows a big red x, which I don't understand,,, sorry, I'm relatively new to BM's
October 24th, 2013 02:54 PM jino looks like you did a ton of work,,, thx much,,, where can I find out how to understand/use it... is there a place on BM'
October 23rd, 2010 01:03 AM rfiske Thanks to both Cory and Zondor. Now the interesting part to see how to properly use this. Will report back after i've
worked with it.
October 22nd, 2010 09:55 PM Druid Thank you for sharing your time and efforts!