The MACDBBLines indicator is built from a standard MACD indicator with Bollinger Bands added to the signal line. The MACD values are shown as dots. This indicator is typically used to generate with-trend entries when the upper or lower Bollinger Band is violated.
Minor trend: The minorlower timeframe trend is up when the MACD is rising. It is down when the MACD is falling.
Major trend: The higher timeframe trend may be taken from the MACD itself. An major uptrend is signaled when MACD > 0, while MACD < 0 stands for a major downtrend.
Public Properties: The indicator comes with a few public Series<double> that can be accessed via other indicators or automated strategies. These will also be shown in the strategy builder. The series "Trend" may be used to detect the minor trend. "Trend" will show the value +2 when the MACD is rising and above the upper Bollinger Band, +1 when it is rising and below the upper Bollinger Band, -1 when it is falling and above the lower Bollinger Band, -2 when it is falling and below the lower Bollinger Band. You will further find two Series<double> "LongSignal" and "ShortSignal". "LongSignal" will return +2 for an upper band violation in a major uptrend (strong signal), +1 for an upper band violation in a major downtrend (weak signal) and 0 for no signal. Accordingly, "ShortSignal" will return +2 for a lower band violation in a major downtrend (strong signal), +1 for an lower band violation in a major uptrend (weak signal) and 0 for no signal.
Market Analyzer Column: The indicator comes with two separate market analyzer columns. The first column will simply indicate the trend and return values based on rising and falling MACD above or below the Bollinger Bands as described above. The second column will return entry signals, where +2 stand for a strong long signal, + 1 for a weak long signal, 0, for no signal, -1 for a weak short signal and - 2 for a strong short signal. For the market analyzer I have squeezed long and short signals into a single column, as there is little space on a market analyzer. For the Series<double> objects, I have separated the LongSignal and ShortSignal series, as they are designed to return positive values or 0 for no signal only. Please pay attention to the difference.
Paint Bars: The indicator comes with paint bars that reflect the minor trend. The colors are similar to the colors for the MACDBB dots, but you may differentiate between upcloses and downcloses.
Sound Alerts: The indicator comes with sound alerts that will be triggered when the upper or lower band is violated, or when the major trend changes.
* Same features as Fat Tails' original MacdBB indicator.
* Gapless feature that ignores the session open gap.
* TickSize addition to help 'normalize' the macd value.
* Band region filled to the same color as the Bollinger plots.
What will not work:
* Dots plotted on price panel. Keep value 'false'. This is due to the 'filled bands', as NT will not allow plotting on both panels.
* My gradient version is not available.
This indicator plots VWAP along with Standard Deviation Bands. It also plots a rolling intraday POC along with it.
Then the Skew, current size of ONE Standard Deviation, and the percentage ratio of skew to ONE Standard Deviation are all calculated. These are then displayed in the upper left hand corner.
General idea is based on Skew and trading around that. Skew is the relationship between the VWAP and the POC. A small skew implies the market is currently in a ranging environment. A larger skew implies the market is trending as the POC and VWAP are separating.
Positive Skew occurs when the VWAP is above the POC.
Negative Skew occurs when the VWAP is below the POC.
Symetrical Skew occurs when the VWAP ~= POC
The skewToStandard Deviation % is the ratio of the skew to the size of ONE standard Deviation. I put that there as a possible way to monitor how the skew may be stacking up to current volatility, i.e. the current standard Deviations....which is the distance between the bands. This should be a better measurement that a fixed number, as it is tied to volatility. The higher the %, the smaller the skew, the less likely a trend is in place.
I do not use these things and coded for a buddy. Details of how to trade them can be found at HERE.
I also have a pdf 'cliff notes' summary of the thread, but I can only seem to post one attachment with this indicator. If you want it, send a pm and I'll send it to you.
After some real time monitoring, I will update the next version with more customization for the end user such as more plotting options, color bars, trend etc.......
Notes, please read:
This indicator is an early release, I will update with new version in the near future
The newer version will have more plotting and display options
Also included will be a buffer to decide how much seperation to determine trending vs chop
Right now, the START TIME for the POC is there, but the START TIME for the VWAP is NOT. By default it starts and ends at the END of the US session, which is what most people will use I imagine. Will update in next release.
I had this up earlier but realized it didn't export from NT properly. I had someone else test it and this one should work fine.
Details about what the indicator is and does can be found at the above link. This version is a minor update, and the script was updated by @Zondor. Thanks to him for that!
He made some changes to the original for optimization, and cleaned the script up a bit. There is still plenty that could be done to make the indicator better which I have not done yet.
Note: This indie still uses the old version of FT's VWAP(version33).
January 4th, 2012
Size: 15.35 KB
Downloaded: 674 times
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forrestang
This is a tool for use with the JPerl thread from a while ago on Traders Laboratory.
This is an update from these old versions THIS, and then THIS. All of this was done from scratch recently so there may be errors?
To find out more about the method or to see the videos, look HERE.
This indicator includes a Peak-Volume-Price(PVP) and its volume histogram. Also shown is the historical movement of the PVP. The PvP has several calculations for the 'Typical Price.' Which includes Close, HLC/3, OHLC/4, HL/2... AND the ability to use the volume counted, and evenly distributed amongst each price on that bar, this option does use more CPU cycles.
The Volume-Weighted-Average-Price(VWAP) is also there. It has the same 'typical price' calcs as the above, but w/o the ability of attaching evenly distributed volume amongst each price.
PRICE MODE(FOR FX): With both of these tools, the traditional volume calculations are there. But also has the ability to substitute in the price bars metrics, INSTEAD of the traditional volume. This might be useful for trading FX, as the typical volume tools look VERY similar to my way of using the bar's metrics instead of volume. To access the Price-Mode, set "Use Volume=false" in setup screen.
You can modify the profile to be drawn with rectangles which looks smoother, or with lines. The color is customizeable as is the amount of each session occupied by it, a percentage width option. The drawing of the profile does eat some CPU cycles, so if not necessary it can be disabled via "Show Volume Profile."
Updates to come as I am interested in studying this data in tabular form, so I'll post updates when I think about it.
This indicator provides a quick visual of key market strength price concepts (various metrics contained in a table at the top middle of the screen). It is useful for determining the relative strength and weakness of different instruments using price relative to the following:
- Key volume profile concepts (price relative to the current day value area and POC and yesterdays value area and POC).
- vwap
- Initial balance range including extensions
- Retail Open (RTO) and yesterday's high and Low (YHL)
- Added initial balance and range extensions
- Added price relative to the Retail Open (RTO) above RTO open green up arrow, below retail open red down arrow.
- Added price relative to yesterday's high or low(YHL), price above yesterdays high green arrow and below yesterday's low red arrow and in between yellow dot.
To operate make sure the following supporting indicators are installed:
This is the conversion of the NinjaTrader 7 "Momentum BB Lines" indicator to MultiCharts.
According to FatTails, the developer of the NinjaTrader indicator:
Quoting
The Momentum BB Lines is an indicator, which is similar to the MACD BB Lines. However, it is not based on the MACD, but on a smoothed, balanced momentum.
The balanced momentum is obtained, when the input value one period ago is replaced with a triangular momentum. This avoids that wide ranging bars which drop out of the momentum calculation have an impact on the momentum line.
The balanced momentum is exponentially smoothed with a selectable smoothing period. The BB Lines are Bollinger Bands, which use the same period for the standard deviation as is used for the balanced momentum before smoothing. The Bollinger Bands are applied to the smoothed momentum.
Different colors can be selected for a rising and falling smoothed momentum and for dots outside and inside the Bollinger Bands.
Since the Momentum BB Lines indicator uses multiple colors, I've chosen to hard code these in the indicator to prevent cluttering of the MultiCharts status line. Changing the code to different colors is quite easy, and here you can find a list of RGB colors to use.
This indicator also includes the Momentum Modified indicator that was included in the original NinjaTrader indicator.
If you like this indicator, please go over to this page and give the original author of this indicator (FatTails) a thanks.
January 23rd, 2012 03:32 PM rainbowchaser Thanks Forrestang. I've looking to learn about the VWAP anf how to us it so this comes very handy. Thanks for sharing.
August 3rd, 2011 01:21 AM djkiwi Thanks for doing this, great work....
October 21st, 2014 10:36 AM kronie This is a whole trading system. Wonderful work!
October 21st, 2014 10:34 AM kronie This is a whole trading system. Wonderful work!
April 10th, 2014 12:15 AM lee2012 if you have ninja zip please post in here I can download it and used it, I don't know how to convert from files.cs to
July 15th, 2022 08:17 AM daviddube How do I get the Sound Alerts to work? I have placed .WAV files in the NT8 Sound Folder but they do not sound-off Love
the indie...Thanks
July 12th, 2020 09:34 PM rickr
June 18th, 2020 12:34 PM MARKETPLACE
April 29th, 2020 04:38 PM 4X77 thanks, I am grateful for your efforts and for sharing.
January 23rd, 2020 06:27 PM hobbys11 very nice, thank you Fat Tails