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Has anyone tried eminiacademy.com?

  #17 (permalink)

Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
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trendisyourfriend View Post
Large Trigger lines: Close, 80, 20
Small Trigger lines: Close, 20,5
Keltner channel use these:
- ChannelThis(30,3,5,55,EMA,55,none)
- EMA_Colors(Close, 10,20,55)

Add Fat Tail's fibonacci confluence indicator and you get basically the same setup for free.

The big plus in favor of these trigger lines is in that they facilitate the reading of price action. The large trigger acts as a punching bag. The more times it gets punched, the weaker it gets. You can use it to gauge strength vs weakness. The small trigger acts as a momentum indicator and it helps to gauge the strength of momentum. Both are in the same window as price so you can keep focusing on price around these lines. I also use them to fine tune my entries and evaluate where i should place my stop loss.

I have also added to my template the particleOscillator_V7(Close,10,0) along with the TriggerLines they signal good entries that give the trader a positive expectation provided you still use your common sense.

There is no need to stay with the NEXGEN concept, as it can be modified or further improved.

(1) I do not think that you need 2 sets of trigger lines, I do not use them.

(2) My fibonacci indicator does not produce the same lines as NEXGENs indicator, but different confluence zones. The logic could be similar, but I have no idea about the exact settings of NEXGEN's indicators.

(3) You can try a different oscillator or settings to replace MACDBBLines. A combination of CCIs would also work.

(4) You should try to find the optimum settings for the Keltner Channel. These depends on timeframe and instrument.

(5) There are also other indicators that indicate support and resistance that could be used: pivots and current day volume weighted average.

Go ahead and play with it!

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