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Smitty MTF Laguerre RSI v1.11
This indicator calculates multiple Laguerre RSIs across two time frames in addition to your chart timeframe, and then plots them horizontally as a visual pullback indicator. It
does not
plot like a normal Laguerre RSI!
The idea is that your chart would be the "medium" time frame, and you would then select a lower and higher timeframe to compliment your chart.
The indicator allows you to set the Gamma, Upper and Lower threshold for each Laguerre RSI
The indicator allows you to select from any of Ninjatrader's built-in time settings
A long entry would look like this:
- Higher timeframe (lower bar) is showing long (preferably green)
- Chart timeframe (middle bar) has retraced and is showing orange or red
- Lower timeframe (thinner, topmost bar) is crossing back to yellow or green
The default colors are setup like so:
Red - Below the 20 line of the Laguerre RSI (or can be set to your own value)
Orange - Between the lower line and 50
Yellow - Between 50 and the upper line
Green - Above the 50 line
At this time the indicator does not plot a signal, but it most likely will in the near future.
NEW:
3 new signal plots have been added for use with Strategy building. Line1, Line2, and Line3 will return values of 1-4 depending on how they are plotting. All signaling "buy" would be a 4,4,4 combination, and "sell" would be "1,1,1". A pullback for a long entry might look something like "1,3,4", depending on the way you have your lines arranged.
Changelog
1.00 - Initial release
1.10 - Updated first line width
Added ability to change position of the line representing the chart time frame
Added new plots for tracking signals
1.11 - Bug fixes for new plots
Category
The Elite Circle
Details:
Smitty MTF Laguerre RSI v1.11
Category:
The Elite Circle
September 5th, 2021
Size: 5.24 KB
2425
torch2k
Comments/ratings
Ganymed
September 13th, 2021 03:52 AM
Thanks
topdogtony
November 26th, 2021 06:14 PM
i will try this out this Thanksgiving weekend. Thank you!!!
d1david
January 12th, 2022 07:21 PM
No Comment
Future4
October 13th, 2022 08:27 AM
just added your MTFL;
for me a big help to stay in the trend.
Many TY Helli
Drewski1980
January 19th, 2024 07:50 PM
Awesome!! Are you still planning to add signals/alerts? If so could you add an audio alert as well?
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All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.