I take a chance to ask we never know. I'd like to replicate the TriggerLines indicator for IRT or its cousin MarketDelta.
Can a linear regression curve be plotted on a series of 80 bars or any other numbers and how do we apply an indicator to another indicator ? For example, the trigger lines are composed of two indicators, Linear regression and EMA see picture for the details.
If i understand correctly, we need to place two instances of the LRF indicator on the chart where one instance uses 20 periods and the other 1 period for the EMA but both instances using the same regression period, ie, 80 periods.
Last edited by trendisyourfriend; May 17th, 2011 at 08:13 PM.
Thanks to Chad for the nice colored triggers above. From his Large Triggers I added the Small Triggers.
If you're interested in creating the Smaller Triggers those are set up the same way but with the LR period at 20 (SMA 1) and the EMA at 5.
I've attached an IRT chart definition file that includes all the NEXGEN indicators including the Keltner Channel, MACD and added a nice Henken Ashi indicator at the bottom which reflects volume for better enteries and exits. You could add the Volume Breakdown Tool and have everything you need. Loving IRT!!!
The following user says Thank You to tdaman for this post:
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