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I have tested the ross hook via backtesting the pattern on tradestation as a strategy, and no matter what, extensive optimization does not show an edge( there are no areas on the opt curve that are robust, just spikes)
Liz Merrill
Can you help answer these questions from other members on NexusFi?
You need to find the right charting time frame that fits your trading personality.
The chart time frame that you used may seem like a looser for the RossHook pattern to you, but for others, it may seem very good.
Its all relative. Please remember, the RH is a pattern indicator. So the Indicator works. It plots the 123 wave pattern. That is all this it is suppose to do. Now if you are looking for this indicator to try to show where price action might go after the #3 bar, then you need to adjust your charting time frame.
once the 123 pattern plots, the indicator did what it is suppose to do, plot the pattern.
Can anyone point me to easylanguage code in TS for the trade trick entry...something like a paintbar study. I know it has to be out there somewhere, but cannot locate anything.
I added error handling and commented out the print statements that were drastically slowing down loading while overflowing the output window and serving no useful purpose. Also added some code to take into account the ticksize of the instrument since the indicator seemed to be assuming that it was always 1. Still needs lots more work, takes way too long to load. Loads faster if the chart has a slower time frame and if the bars back setting of the dataseries is less.
If you set Calculate On Bar Close = false you are cruisin' for a bruisin'®.. DON'T EVEN THINK OF DOING THAT!
Don't ask for any technical support on this one, you are on your own. This was coded in the NT6.5 days, and shows it!
Probably not. I just worked on it as a coding exercise. The changes do seem to make it run a lot better.
I don't think the one posted above is my latest version. The latest one is attached here. Use at your own risk. as no technical support will be provided.
Note that this IS for NT7. I have not used NT6.5 for a couple of years or so. Is ANYONE still using it?
Also note that the sensitivity parameter is RejectIfHeightLessThan. The smaller this value, the more sensitive, and the more Ross Hooks you will see. Originally this was in units of whole number integers so the results would vary wildly when the same setting was used for different instruments. For example a setting of 15 would correspond to 15 ticks for YM, 60 ticks for ES, and 150 ticks for TF. That's why the indicator would often fail to plot anything. It's hard to understand how the creator of this indicator, a brilliant programmer, could have made such a simple mistake.
I changed it to integral multiples of the instrument TickSize to solve that problem. .
