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before we do the webhuddle, Why don't you describe why you think the lines appear late and provide a screenshot. The rule for a long entry is 1 tick above the highest high of the last 5 bars and reverse that for shorts.
Mike
Can you help answer these questions from other members on NexusFi?
Thank you very much for your planning to include Perry Trading Method 2 into the DMPlusSignals indicator.
My system is Window XP Professional, NT 6.5. 1000.18, eSignal data feed.
The screen shot, ES-3 Range- October 12, 2010, shows four Setup bars without touching EMA 5. Could you look into it and advise me what to do. TIA! Good Trading to You!
What you are seeing is a rounding issue. Mine shows that as well. However, if I open the Data Box and compare the price with the ema value I see they are the same price. Nothing I can do about that. As I've stated before, every signal isn't intended to be taken. My indicator marks them for you as an aid and it's up to you to accept or reject.
By the way, my es chart showed the exact same trigger bars. So, at least we are consistent.
I'll have the new version of the indicator which includes setup 2 uploaded later today.
This is a new version of the DMPlusSignals indicators for both nt6.5 and nt7. This version includes both setup 1 and setup 2 as defined by PerryG. Putting both signals on a single chart is really hard to visually keep up with. So, I wrote the indicator so you can only have one of the setups displayed on a single chart. So, you will need 2 charts to see both setups.
Good luck and let me know if you have any problems.
Mike
P.S. Made some corrections after I posted them earlier today. This version can display both setups on the same chart. You can also customize the colors. I knew that was coming as well so figured I'd go ahead and include that capability.
I fully agree, that's why I was never able to implement it as a profitable automated strategy myself. Which begs the question, what additionally criteria are Perry and his profitable followers mentally applying?
Mike, thanks for your work on the strat and indicator.
It seems that the trigger line is based on the candle that becomes the setup bar. I am assuming that the large dot painted is the setup bar and horizontal line the trigger line.
Have I interpreted your indicator correctly?
regards
I believe I found what caused the Gaps. My internet connection was on and ran NT from 8:00AM till 4:30 PM today; I didn't see any Setup bar which didn't touch EMA 5. After I reconnected internet and checking NT charts after 5:30 PM, several Setup bars which did not touch EMA 20. The conclusion is NT can't correctly reproduce historical image. Your indicator is good.
Big thanks to you for the new indicators for Trading Method 2. Good Trading to You!
Good...glad it's working now. Bear in mind that what I mentioned about the rounding issue still applies. You may see what look like small gaps but looking at the values in the data box you will see they are the same.
I have to defend NT a bit on your issue with historical data. I've used several charting packages and saw the same sort of issue. The same kind of thing can happen during high volume periods. Anytime I have a hiccup with my data connection, I reload historical data. That way I don't go the rest of the day with missing data. That isn't as important with timebased charts as it is with tick or volume based charts. By the way, range and renko charts are tick based.
You are almost correct. The line is where your order should be placed and is based on the highest high of the last 5 bars for a long in setup 1. For setup 2, the line is based on the high of the trigger bar. So, there's a difference between the 2 setups. The large dot marks the trigger bar.
Hi Mike
Here is a screen shot from todays 6E action. Was wondering why there was no dots firing on the marked arrows?
Also was unsure why the long dots fired when the candle is only touching the 5EMA and nowhere near the 20EMA. maybe I am misunderstanding the entry rules.
Thanks though for the work you have done. Your knowledge of programming is far better than mine.
Regards