Winning Entry October 1st, 2024 to November 1st, 2024 [1 votes]
This is my take on the Detrended Price Oscillator. I've added an ADX component to it which can highlight the bar-outline when the ADX is increasing. It also produces vertical signal lines as the DPO crosses the zero-line. It works on all types of charts, but minute and tick work especially well. bars are colorized depending on being above or below the zero line. There are continuation signals when the DPO quickly dips below (or above) the zero line and then returns to its original side.
It is fully property-controlled, but I must state that the 'guts' of the indicator, the numeric DPO/ADX parameters (DPO especially) should be left alone as they are time-tested values that were determined by folks much smarter then myself.
The picture is of the 500 Tick NQ with my dpQGP and dpDPO applied to it. You'll notice that the bright outline very often appears after breaking out of a congestion area or bar formation. You'll be surprised with how many ways you can use this.
As you experiment with many of the properties, you'll be able to fine-tune it to your style. But be wary of changing the 'Parameters' and 'Combo-Signals' sections.
If you find the the two 'warning track' lines, above and below the histogram in my picture, are sitting on the zero line on your chart, adjust the 'LineOffset' property to a value that approximates the highs and lows of the histogram. For a 1min CL, it might be .2, but for a 5min ES it might be 100, so play with it.
You can alter the bar-body outline by changing the color of the 'StrongUp' and 'StrongDown' properties. I like yellow on a black background or magenta on a white.
The dpXRAY, (very slick if I say so myself) was packaged together with the dpDPO by accident! Use it as an overy lay of a volume panel or ADX panel. You'll 'see' what price is doing internally, hence the 'xray' name.
As always, comment or concerns are always welcome. You can get me directly at [email protected].
Good trading!
Dave P.
October 4th, 2024
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The RangeDisparityMeter Indicator is a powerful tool designed to provide real-time insights into the price movement within a trading session. This indicator offers traders a dynamic view of the current session's price range and compares it to historical data, enabling more informed trading decisions.
**Key Features:**
1. **Real-time Range Monitoring:** The indicator continuously tracks the development of the trading session's price range as it unfolds, allowing traders to stay on top of price movements as they happen.
2. **Historical Range Comparison:** Gain a competitive edge by comparing the current session's range to historical averages. This valuable perspective helps traders identify potential overbought or oversold conditions and assess the significance of price movements.
3. **Visual Clarity:** The Session Range Tracker Indicator presents information in a clear and intuitive visual format, making it easy for traders to spot trends and anomalies at a glance.
4. **Customizable Parameters:** Tailor the indicator to your specific trading strategy with customizable parameters, such as the look-back period for historical range comparisons, reset the range meter at various intervals and visual style preferences.
**How It Works:**
The RangeDisparityMeter Indicator calculates the price range within the current trading session (Yellow Hash Line) and overlays it with historical range data (Gray Bar Graph). By doing so, it provides a visual representation of whether the session's price movements are within the expected norm or deviating from it. This information can be instrumental in identifying potential trading opportunities and risk management.
There is an open thread if you'd like to discuss or report a misbehavior:
This indicator displays both the session cumulative volume as it progresses versus the average historical cumulative volume for the same period. It works on minute chart only and it calculates on bar close.
September 12th, 2023
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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!
UPDATE on Sept 2, 2024: I have several other homegrown indicators that I use that are for sale at nominal cost. If interested, please send me a note at [email protected]. I think you'll find them useful. Thanks. Dave
The PriceActionSwing indicator for NinjaTrader 8.0 calculates swings in different ways and visualizes them. It shows swing information like the swing length, duration, volume and many more. It contains a lot of features and it is useable in the Market Analyzer.
Strategies based on older PriceActionSwing versions will not work with this update.
Remove old PriceActionSwing versions (do a backup first) before you import the updated version.
The package contains two indicators: PriceActionSwingPro
- Swing indicator with visualization and swing information
- ABC patterns
- Compute divergences based on different indicators
- Naked swing lines
- Swing statistics
- Draw automatically Fibonacci extensions and retracements PriceActionSwingOscillator
- Swing trend and relation visualization
- Swing volume (repainting)
Useful to see/trade price action based on swings and patterns like double top/bottoms, wedges and many more.