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When you open your positions, do you have a sense of the direction of the larger trend?
To me it also helps to follow wave/price structure where I am thorough with my S/R levels.
If you take a look at the picture with only the EMA5 and SMA40, you see both the larger trend/momentum direction with a 4 Range chart and what I consider a confirmed break of wave structure when price goes back up again above the S/R level.
As basic in this example I think these are good guidelines to follow.
Hope this helps.
Laurus
“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
Can you help answer these questions from other members on NexusFi?
I think I understand what situation you are in. Anyhow you should just take your time. Your brain will eventually make the connections.
I have added another picture which can help things further. If we use the concept of "break of wave structure", you can see it as where a move anulls the previous move in opposite direction by coming back up/down to the same level as before with disrespect of the S/R level previously broken (in opposite direction). Note that this concept can also be used with trend turning points.
Hope this was understandable. If not don't hesitate to ask and we could go to another thread so we don't go more off topic of this one.
Laurus
“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
The 40 point MC7/IQFeed chart (NON-live; delayed data most likely) is still showing a "4 point" range given that I see data coming in with 5-digits (though I have MC configured to truncate at 4 digits). At some point I'll pay for real-time data, but for now this has been sufficient for developing and testing.
-Guy
p.s. attached is a MC7 .pla containing my latest attempts at converting:
DMplus_v3a
Force_Index_v02
TheAboxForRange
Given that JeffsUniversalMovingAverage_v1 is "elite-only", I'll most likely upload that in the Elite download section when it's 100% finished (if Jeff's OK with that anyway). I'm still trying to figure out the best way to position the text boxes, and I've done some tweaking to the Force Index code to add a few color gradients (i.e. dark/light red & blue) that I may end up reverting. MASlopeBoxMulti is still pre-alpha and not worth showing just yet (though I don't think Perry uses it anymore).
Note ALL the attached code should be considered "alpha" and NOT used for live trading yet.
Comments / suggestions welcome...
p.p.s. I got tired of looking at data using the exchange time zone, so in the process of updating the display TimeZone to "local" I also had to switch from 40 points down to 4 to get a proper display - odd at best, but another great "side effect" is that it now matches my NT7 chart tick for tick (as did yours). May be a "feature" of MC7 beta ...
For some reason I can not get the settings right for the ForceIndex_v.02 with NinjaTrader, so if someone could give me a template or snapshot of the settings that would be great.
The DMplus_v3a looks pretty good. When comparing the values they are from my observations always the same, but there is a difference with the ADX coloring which I marked with red circles. Take a look at the picture.
For the instrument settings with 4 digits and 4 Points I have also attached a picture.
Regarding the color change MA for MC I can't find it. So if someone could help me with that too, that would have been nice.
Laurus
“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
The key with configuring the Force_Index_v02 indicator is that you need to set the FastLineAbove/Below Dash style to "Dash", Plot style to "Hash" and Width to "90" (I think Perry mentioned this elsewhere in the thread; refer to the attached image for my config). Unfortunately this had me stumped for quite a bit during the conversion process since there isn't a corresponding way of plotting "hashed dashes" in MC7, so I opted to plot it as a histogram instead since at least the display would look the same color-wise (despite loosing the "value" which is always hard-coded at "1" at the moment).
Similar to the discrepancy with the ADX/DM display, the MC7 FI blue/red blocks weren't matching up with NT7, both of which I'm still investigating but hopefully had something to do with the tick/point offsets I was having by using 40 points vs. 4. I tweaked the FI histogram to show 5 colors so bright red or blue were "stronger" than their darker variants (or dark yellow to indicate weakness in either direction). I'll probably tweak the code further to make it an option to only have bright red or blue blocks (per the "official" Perry rules); I also have to finish the "signal dot" alerting part of the code.
The "color change MA for MC" you mention is JeffsUniversalMovingAverage_v1, which I've also converted but it is an "Elite" indicator that I haven't uploaded yet. I only have a few of the primary averages implemented (including the EMA that we use here), but you can always just use a vanilla EMA(20) for now. I'd rather complete that 100% and upload it to the Elite repository rather than attach it somewhere in the Elite message area as "random code".
Thank you Fn510n. After manually entering the values you gave me it finally made sense with a couple of templates I have tried before also. After using the templates I just could not see what the #%&##!! that strange indicator was doing there
Regarding the color shift MA I was actually thinking about a regular one, I guess, which I saw in the "guide to trend trading in simplest form" thread, but thank you for doing the Jeff's-one. It is great that you are porting the whole Perry's-thing.
Laurus
“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
I have read the thread and searched for Trade station indicators.
Doesanyone have some TS indicators for perrys items ??
Just can't make the move to Ninja yet.
Having read the thread, are we only using slow line above/below and setting fast lines to transparent? Also the 13 period HMA should be changed to EMA. Is that correct? Thanks anyone. A shot of settings would be great.