I am going to work on this idea on my own, however, since we are all part of this community and a lot of you are much more experienced than me with programming, I figured I would include everybody.
I recently attended a presentation on the HVMM at www.netpicks.com ( website
When the person explained his trading method, it seemed to be so incredibly simple that I could not help but think--
"I bet I can make this into a strategy in ninjatrader, backtest it, and see how well it really works."
This is what he said for the most part----at least my interpretation.
He has a simple trendbar plotted on certain markets----like CL and only traders from 8am to about 10am when the volume and movements are most likely.
This can be a simple trendbar like BigMikes trendbar2 or Roonius SuperTrend.
Here is the setup:
consider long when:
first bar to close blue from red
then add a few ticks to the high of that bar---say 5 ticks
place stop and target about 15 to 20 ticks away
consider going short when:
first bar to close is red from being blue
then subtract a few ticks---say 5 ticks---from the low of that bar and that is your entry
put stop and target about 15 to 20 ticks away
they do have a few other things like an early exit and they have this thing called a calculator that figures out where the stop and target are to be, however, it is basically always the same from watching their videos. This does make sense since everything is from the 6 Range Chart so those stops and targets are probably calibrated pretty well with that chart.
away, I am asking if anybody has the experience to quickly create a strategy with this method and share it so we can backtest,etc.. I think it would be a great learning experience for both programmers and traders to see if someting as simple as this can make money on a consistent basis.
I see so often things becoming more and more complex and often wonder if it really makes a whole lot of sense sometimes.
So, I noticed that looking at the 6R CL with Big Mikes trendbars2 set stop value to 20 starting from 8am to about 10am, this method seems to work pretty well just from looking at it. It would be interesting to see how well this method works months and even years taking full advantage of ninja's backtesting.
plus, this method is very simple so results going forward should be the same----meaning some indicators give different real time signals than backtesting since things like volume and stuff is not kept in ninja after it is closed.
I am going to work on it as I get enough experience. I am taking some programming classes---C++ (2 semesters), java,e tc.. not c# yet, but it seems to be very similiar to Java. It will take a while for me to get their and being able to look at strategies that I already understand will also probably help me move forward, and if this strategy works well, then it might help out whoever creates it to enhance their trading,e tc..