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ESFXtrader_CCIBarCounter is an indicator I wrote to count the bars as described by ESFStrader. This version is intended to be an academic exercise to determine if I'm counting them correctly. The counting begins when the CCI crosses the +45 or -45. CCI crosses above the +45 are marked with a green dot on the zeroline and CCI crosses below the -45 are marked with a red dot on the zeroline.
There are no filters applied in this version. So, when the CCI crosses the +45/-45, counting begins and will continue with the 5th bar is reached. This means that there may be times when you see barcounts going on above and below the line at the same time. Don't be alarmed by that. Just keep looking at it and see if I am counting correctly. Green numbers are counting the number of bars since the green dot. Red numbers are counting the number of bars since the red dot.
Do you remember your teacher telling you to show your work? That's what I'm doing in this indicator. Every bar starting at 1 gets a number until 5 is reached. This way you can see what happens at each bar.
Again, this is an academic exercise to make sure I'm counting the bars correctly. Please don't get into the aesthetics of the indicator. That will come if this turns into a useful tool. It may not beyond what it already is because that would mean I have to code entry rules.
This indicator is exported for NT7 only. Please don't ask for one that is for nt 6.5 . That will come after I'm sure the numbering is right.
"ESFXtrader_CCIBarCounter is an indicator I wrote to count the bars as described by ESFStrader. This version is intended to be an academic exercise to determine if I'm counting them correctly. The counting begins when the CCI crosses the +45 or -45. CCI crosses above the +45 are marked with a green dot on the zeroline and CCI crosses below the -45 are marked with a red dot on the zeroline."
Understand that the cross of the 45 means nothing until the bar has completed, whether it be a 5 min bar chart or 377 tick bar or any other. If, after the close of the bar, the CCI bar has a value of 45 or -45 and you are not in a trade, it could be at a price at which to take a trade. Still, one must pay attention to the price now from where it has come and where it is in relation to the BBs and the strength of the market, if it is in a trend, and the length of the bar from which one is trading. This is another point of which I may not have mentioned. In a long bar, whether it be on the second green or red bar or 5th countback bar or 1st CCI bar with a value of >45 or >-45, do not take the trade until a retracement of 1/2 of the bar within 3 bars. This prevents chasing markets, of which I have warned. You will need to study the charts for some time to see the complete system. A good trader will begin to see all I have explained and avoid most losses once they have seen enough charts. I don't believe one can write all the perameters required to trade this system. The computer between the ears is much better at seeing the trades.....trust me. WK
I fully understand and never intend for this indicator to be anything other than an academic exercise to make sure we are numbering the bars correctly. Anyone using it for anything other than that is on their own. Also, I didn't mention this but barclose is what this numbering is based on.
Thank you for your time to explain and give your disclaimer.
This is my condensed version of ESFXtrader's system;
If the fast ema > the slow ema and Zscore >1 (Blue BackGround) and Close[0] crosses above the fast ema, go long. If Close[0] Crosses below the fast ema and/or Zscore crosses below 1, exit long position.
If the fast ema < the slow ema and Zscore <-1 (Pink BackGround) and Close[0] crosses below the fast ema, go short. If Close[0] Crosses above the fast ema and/or Zscore crosses above -1, exit short position.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
Nice work, Mike. Makes it much easy/faster to see possible exits.
Is it possible to also create an indicator that displays entrys (arrows) on the price chart when the CCI crosses the +45/-45? Along with the option of an audio alert (i.e., similar to how you did the JMASignals_v7).
While at it, why not modify the original CCI NT7 indicator in order to make it more sexy by adding some dazzling color schemes, green when crossing the primary positive threshold, red when crossing the primary negative threshold, gray when in between both primary thresholds. Using the histogram bar style by default would be cute.
It would seem there is nothing you can't do in your writing codes on indicators- pretty sophisticated....from identifying direction and strength in the markets to the sexy voice to say buy and another to say bye.....its all good. I have never written code. I'm not sure code can weigh the value of volume, strength of trend, price location in reference to where its been and to BBs, and the support and resistance areas, not to mention divergence and long bar moves and certain continuation bounces off the 20 and 31 EMAs and There is one more thing I will cover when I have the time that I have not seen mentioned to date. Just wait....so much going on.
Your code writing is amazing.
Thanks for the excellent effort, as many traders can use it and simplify their trading until the trades jump off the charts.