NinjaTrader 8 Indicators and More - Price Action Swing with Keltner Minor Trend Rule
futures io


Categories Help    

NinjaTrader 8 Indicators and More
Indicators and Files in this section are compatible with NinjaTrader 8


Entries
Price Action Swing with Keltner Minor Trend Rule 5 *
gbPriceActionSwing Ver 1.1, TraderGB, March 23, 2021

This is a modified version of PriceActionSwing indicator that includes the Keltner Minor Trend Rule.

The minor trend turns:
(1) UP when price moves above its most recent high and stays UP until price moves below its most recent low, when it is considered to have turned DOWN.
(2) DOWN when price moves below its most recent low and stays DOWN until price moves above its most recent high, when it is considered to have turned UP.

Keltner defines an upward trend by the failure to make lower lows and a downward trend by the failure to make higher highs.



General Usage:
1) When the trend is up (background=green), you'll want to trade long on the up swings of the up trend (the Trend is Up and the Swing of the up trend is Up).
2) When the trend is down (background=red), you'll want to trade short on the down swings of the down trend (the Trend is Down and the Swing of the down trend is Down)

Suggestion Application - have three charts:
(1) Long-Term Chart: Used to get an idea of the long term trend.
(2) Intermediate-Term Chart: Used to detect the swing points turning in the same direction as the trend.
(3) Short-Term Chart: Used for entry/exit and trade management in the same direction of the trend and swing.

The screenshot shows a 30-tick range bar chart with the indicator parameters: SwingType=Standard and SwingSize=20.
The large green arrow shows the trend direction being up. The smaller green arrows show the "up swings" within the "up trend".
There are seven up swings in the ES of roughly 59, 82, 85, 102, 47, 58 and 53 points.
Looking within the up swings, there are many opportunities to get long using a lower timeframe chart.

References:
How to Make Money in Commodities, Chester W. Keltner, Keltner Statistical Services, 1960 (pages 52-54, 61-64).
The line chart on the top of page 61 clearly illustrates this rule.

Updates: Ver 1.1, 3/23/2021
1) Added independed AddOn gbPriceActionSwingBaseMethods. Some users were having issues with an existing version of PriceActionSwingBaseMethods that was different from the version that this indicator is based on.


Category NinjaTrader 8 Indicators and More 
 
Suggest other entries I might like
Details: Price Action Swing with Keltner Minor Trend Rule
Category: NinjaTrader 8 Indicators and More 


March 20th, 2021
Size: 18.20 KB
Downloaded: 298 times
 


 
Category
 



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
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.