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TF trading using CCI method-it works
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TF trading using CCI method-it works

  #161 (permalink)
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monpere View Post
I can't change the color of the dots, or the background of the numbers.

What ChartTrader do you have on your chart ?

Lolu

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  #162 (permalink)
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lolu View Post
What ChartTrader do you have on your chart ?

Lolu

This is an indicator I wrote because NT does not give you the ability to put user buttons on the chart. I needed various ways to enter, and manage trades. When I trade ETF's I use fixed risk R-Multiples share sizing, for instance I want to draw a horizontal line on the chart below a resistance level where I want my stop to be placed, then when I hit the buy button, the indicator will use the difference between the price I am entering and where the stop line is, and calculate the amount of shares I need, in order to keep my risk fixed, and also automatically place my stop at the line drawn. So, if I want all my trades to risk only $100, I would need 1000 shares if my stop will be 10 ticks away, but 500 shares if my stop is 20 ticks away. Both trades are only risking $100 by using different share sizing. I also use it for things like, setting price alerts when price crosses a line I draw on the chart, enter at the close of bars, automatically choose the proper ATM based on the chart period I am trading, move my stop or target in R-Multiple increments, Initiate automatic bar trailing on demand, and various features I use.


Last edited by monpere; January 9th, 2011 at 12:41 PM.
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  #163 (permalink)
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monpere View Post
This is an indicator I wrote because NT does not give you the ability to put buttons on the chart, to enable the various ways I enter, and manage trades. When I trade ETF's I use fixed risk R-Multiples share sizing, and for instance I want to draw a horizontal line on the chart below a resistance point where I want my stop to be places, then when I hit the buy button, the indicator will use the difference between the price I am entering and where the stop line is, and calculate the amount of shares I need, in order to keep my risk fixed. So, if I want all my trades to risk only $100, I need 1000 shares if my stop will be 10 ticks away, but 500 shares if my stop is 20 ticks away. Both trades are only risking $100. I also use it to set price alerts when price crosses a line drawn on the chart, enter at the close of bar, and various features I use.

Is this indicator available for download on futures.io (formerly BMT); or can you share/post it ? I've always disliked NT ChartTrader.

Lolu

 
  #164 (permalink)
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Is it me or.....

Thanks for this thread. I always appreciate reading other views on trading.

Is it me or is the cross of the zero line of the CCI about when price closes above / below the SMA of the value of the indicator? So if the setting of CCI is 14 then put a SMA 14 on your chart. The CCI cross of zero seems to be when the price closes above / below the SMA.

I have two examples attached:
-CCI 14, SMA 14, 5 minute
-CCI 30, SMA 30, daily

Interesting.

Andrew

Attached Thumbnails
TF trading using CCI method-it works-example-1-14cci.png   TF trading using CCI method-it works-example-2-30cci.png  
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  #165 (permalink)
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monpere View Post
This is an indicator I wrote because NT does not give you the ability to put user buttons on the chart. I needed various ways to enter, and manage trades. When I trade ETF's I use fixed risk R-Multiples share sizing, for instance I want to draw a horizontal line on the chart below a resistance level where I want my stop to be placed, then when I hit the buy button, the indicator will use the difference between the price I am entering and where the stop line is, and calculate the amount of shares I need, in order to keep my risk fixed, and also automatically place my stop at the line drawn. So, if I want all my trades to risk only $100, I would need 1000 shares if my stop will be 10 ticks away, but 500 shares if my stop is 20 ticks away. Both trades are only risking $100 by using different share sizing. I also use it for things like, setting price alerts when price crosses a line I draw on the chart, enter at the close of bars, automatically choose the proper ATM based on the chart period I am trading, move my stop or target in R-Multiple increments, Initiate automatic bar trailing on demand, and various features I use.

You have missed your calling in life. That is impressive coding.


AR01 View Post
Thanks for this thread. I always appreciate reading other views on trading.

Is it me or is the cross of the zero line of the CCI about when price closes above / below the SMA of the value of the indicator? So if the setting of CCI is 14 then put a SMA 14 on your chart. The CCI cross of zero seems to be when the price closes above / below the SMA.

I have two examples attached:
-CCI 14, SMA 14, 5 minute
-CCI 30, SMA 30, daily

Interesting.

Andrew

The CCI :

Price -SMA(Price, CCI Length) / .015*(Price-SMA(Price, CCI Length) )

Price:

Typical= H+L+C/3
Weighted= H+L+C+C/4
Close= C

The Classical CCI uses the Typical price. I prefer weighted , but that is a personal choice. Using Close makes it rather choppy.

All the CCI is doing is measuring the distance between a price and its SMA then dividing that distance by , itself multiplied by a factor of .015. This "Normalizes" the CCI (keeps it between a standard set of values) . That is why it ranges from +200's to -200's normally. The reason Donald Lambert chose .015 was to force 85% of the values between 100 and -100. If Price overcomes the 15% barrier it usually shows strong momentum.

So yes there is a similarity between the movement of a moving average and the CCI of the same length. However, they are not always the same due to the .015 factor.

The CCI makes it easier to see whats going on. You can get the same information by looking at the moving average and the price bars, or just the price bars for that matter. But I get sensory overload trying the latter method.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #166 (permalink)
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MWinfrey, nice job on your indicator. I was wondering would it be possible to reset the counter (1..5) when it reaches 5 and start a new sequence (1..5) when the histogram bar closes above/below the threshold +45/-45 and the same histogram bar is greater than the preceeding histogram bar in an uptrend and vice versa in a downtrend ? The idea would be to process multiple entries for an extended directional move or a strong move that offers multiple entries.

Just so I make sure I understand correctly, would you detail a scenario of what you're talking about.

 
  #167 (permalink)
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monpere View Post
The DrawText() of the numbering, sets the background to black, that assumes everyone is using a chart with black background. The numbering is illegible on charts of any other background color then black. You can change that by making the background transparent/empty. I guess the dot coloring can't be change if you are using a plot rather then DrawDot(). Thanks for all the great and free work on these indicators.

actually I didn't assume anything. I was trying to write it so it would be visible on any color chart background. White letters on a black background or black letters on a white background accomplish that. At least that was my logic behind it.

I'll rewrite so users can choose whatever color they want.

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  #168 (permalink)
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ESFXtrader_CCIBarCounter_v4

New version for NT7 only. Added ability to customize the dot color separate from the histogram, text color, text background color.

I won't be making these changes to the nt6.5 version.

Attached Files
Register to download File Type: zip ESFXtrader_CCIBarCounter_v4_nt7.zip (5.4 KB, 244 views)
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  #169 (permalink)
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As a newbie here, I just wanted to see if I'm the only one who is confused by this method.

At one point we're told to look at a 377 tick chart for the TF, then a few posts later, it's a 5 minute chart at, 1 am?

At any rate, I have no doubt that the OP uses this successfully, but my rational brain need to codify things a bit more.

So, we go long on CCI+45 and short if CCI-45?
Exit based on the 5 bar countback

OR

Two candles in opposite direction of trade

OR

Outside BB touch

Either of the above can possibly be reversal entries. They can also be stand alone entries?

Not clear on stop loss for any of these. One point?

 
  #170 (permalink)
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TMFT

On CCI 45/-45 entries, how do you filter trades. look at trend based on EMA, like 89 EMA or 50 or 200

or just lOok at higher CCI, like CCI 100?


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