Inspired by the "MovAvgExpRibbon" this is a similar study but with half the lines and clouds between the three zones. Each line is the double of the previous line. The colors are for a white background and would have to be changed in the code for a dark background.
This study was inspired by the 9/30 method setup... hope others will find it useful. it's amazing how few lines of code can produce something as effective and nice looking (they don't have to be ugly, you know... )
The K_Trader_Ribbon is a trend following setup based on 2 crossing-MA's concept.
we use WMA and an EMA of shorter length of that WMA.
the "ribbons" shade the area between the EMA, the WMA, and the midline of the Hi/lo Channel of the WMA.
the price/WMA will be on either sides of that channel depending on up/down trend ..
visualizing it this way hides a lot of unnecessary noise..
we can also better visualize the "buy" area (light shading) and the "exit loss" areas (inside the darker shades or if price penetrates the TrendLine)
added a buy/sell signal (up/down arrow) based on the crossing of the WMA with it's EMA (it provides the earliest signal) beside the color clue (red/Green) for an established trend up or down.
couple of nice visual enhancements to expereiment with(hi-contrast clouds and hide/show all lines) - see screenshots
try different length settings.. i liked 4/3 and 6/3 on a 5min chart..
Adjust length settings based on underlying & time aggregation until you see the price bars penetrating the ribbon to the other side of current trend *just before reversal*, and staying within the ribbon during retraces.. this will be the best settings in most cases..
Attached is a collection of 7 NonLinear Moving Averages and their functions for easy use in backtesting. Every indicator also contains an option to color the line to signal up and downtrends, and the user can specify these colors.
This pack include the following moving averages:
KAMA (Kaufman Adaptive Moving Average),
VIDYA (Variable Index Dynamic Average),
MAMA (MESA Adaptive Moving Average),
Ehlers Filter,
Median-MA Difference Filter,
FRAMA (Fractal Adaptive Moving Average),
NonLinear Laguerre Filter.
If you want to import a specific indicator, uncheck the other ones while importing them in MultiCharts.
The example screenshot just shows one nonlinear moving average to give an idea.
Source: John Ehler's presentation 'Building Trading Systems on NonLinear Filters' at the TradeStationWorld 2005 Expo.
Based on Ninja SampleMultiTimeFrame strategy + guidance from Ryan/Josh/Brett (Ninja support team), I was able to develop a simple MTF indicator capturing some MA entry requirements of a higher time frame (5-Range) and have a visual alert (text label) plotting on a lower time frame (3-Range) chart. It serves to remind me stay with Trend Direction and no counter-trend trades.
It took me over a month lol! I am hoping this simple indicator will shed light to those who are still trying.
Inspired by my time in Felton Trading live trading room, this ind. is a multi selectable MA(currently BMCollectiveMAv2, EMA, EMADouble, TEMA, EMAZeroLag, HATEMAZeroLag, TEMAZeroLag, HMA, HoltEMA, JMA, LinReg, SMA, TMA, TSF, VWMA, WMA) with offset bands based on ATR, Range, or Tick. Besides being pretty, this ind. when properly "matched" to the instrument it gives a good indication of direction change. Obviously, no guarantee for how long.
Exported from NT.0.1000.2
V2: Added more MAs as listed above. Can now access MA value. Added some extra options. Upper & Lower plots change color to match shading, when not set to Transparent.
VIP Only, please do not distribute outside of the Elite Circle. It's based on Mike's Version 2.02 from February. This plots the same as Mike's except for two differences.
Quick Start Modification causes value of CMA to rapidly converge to the correct value within a few bars of startup.
The method of calling the EMA's was changed for greater efficiency. This causes initial loading to be much faster, and resource use while indicator runs to be much lower. Thanks to Richard of MoveTheMarkets.com for his excellent article about this subject.
To see the envelope bands, chart must go back at least one day. Bands begin to display on the second day.
As in original version, all band colors are hard coded and are best for a chart with a dark background.
This indicator plots the difference between 2 moving averages as a multicolored plot. The zero line is actually the slower of the 2 moving averages. You can select from 6 different moving averages. The screenshot shows the combination of EMA and SMA. So, you can pick your poison.
The multicolored plot is the difference between the slow and fast moving averages. Lime indicates the plot is rising, red is falling, and yellow is flat.
The dots on the zero line tell you the plot is above or below the zero line.
The histogram tells you the slower moving average is rising or falling.
Written by Mike Winfrey, aka Joe Blow, don't remember when I wrote the first iteration. However, this one, Version 1, was completed on May 11, 2010.
Exported 6.5.1000.15
Haven't done anything with NT7 yet. Not worth the effort yet.
Just a note...send a PM to me if you have questions or comments. I won't be notified if you leave a comment here with the indicator and as a result you may never get an answer.
A ZScore indicator for NT7. ZScore looks at deviations from the moving average, and this plots an oscilator in a new panel. Note in the attached chart where Bollinger channels are breached and where ZScore lines are breached. Help make it better!
Changelog:
4 March 2010: Version 2.00 posted.
22 April 2010: Version 3.00 posted. Revamp of code, same calculation logic.
December 6th, 2013 09:32 PM 1973Hog Thanks, RedK. Just wanted to let you know that I loaded this up to ToS and am experimenting with which Time Frames and S
ettings to use for short term Intra Day trading -- trading the intra day trends that last from 10-30 minutes.
Here is a chart of how I used your system to trade TNA today (12-06-2013). It works very well on a 5 min chart with 4,2
as the setting. It identified the Up trend in the pre market, the chop zone in the first part of the trading day, and th
en the Up trend from 1045 to 1155.
Thanks again.
October 16th, 2013 09:41 PM LukhyG Thanks for This great help
September 29th, 2012 12:33 AM ticker I would be grateful to anyone who can translate into Ninja?
September 15th, 2012 10:06 PM kareem40 Good work again. Nice to see more TOS indicators.
September 13th, 2012 04:47 PM Cloudy Nice, the colors help see the continuation trades. Thanks RedK