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Double Top / Double Bottom indicator for Multicharts / Tradestation, one available?
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Double Top / Double Bottom indicator for Multicharts / Tradestation, one available?

  #1 (permalink)
Elite Member
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Posts: 587 since Nov 2010
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Double Top / Double Bottom indicator for Multicharts / Tradestation, one available?

Hi there folks. I just started recently using Multicharts and have programmed my own indicator into it.

I pick out double tops / double bottoms on my indicator and use them as signals therefore it would be really useful to automate this process, so I can be alerted when one appears, and also perhaps later on, use it as the basis for an automated strategy. I'm new to programming and although I intend to learn Easy Language it's beyond my ability right now.

Is anyone aware of an indicator that will search data and highlight or show where double tops and double bottoms are. On futures.io (formerly BMT) I can only see one for NinjaTrader and whilst there are a couple I've found that are on sale via other sites ($99 / $250) I thought I'd ask around before I go ahead and buy one.

What I'm not clear on is that if I buy one, will I be able to see / amend the code later on?

Thanks

"The primary thing required to obtain what you want from life, is simply the will to pursue it, and the faith to believe it is possible." - Author Unknown

"The ability to maintain discipline and stick to the rules is the hallmark of the experienced successful trader" - Curtis Faith

Last edited by PositiveDeviant; October 21st, 2011 at 02:41 PM.
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  #2 (permalink)
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Here is a quick code that might help you to play around.

Take care to the strength parameter which is quite sensitive in the pattern determination.

I remmember from Suri Dudella's webinar that he optimises his swing points to find ABCs... it might be an idea to find the best value.

I'll send you my bank account number for the payment

Hope that helps.


 
Code
Input: Lookback(50),Strength(5);
Var: LastHighPivotbar (0),LastLowPivotbar (0),PreviousHighPivotbar (0),PreviousLowPivotbar(0),
LastHighPivot (0),LastLowPivot (0),PreviousHighPivot (0),PreviousLowPivot(0),DT (False),DB (False);

LastHighPivotBar = PivotHighVSBar(1,H,Strength,Strength,Lookback);
LastLowPivotBar = PivotLowVSbar(1,L,Strength,Strength,Lookback);
PreviousHighPivotBar = PivotHighVSBar(2,H,Strength,Strength,Lookback);
PreviousLowPivotBar = PivotLowVSbar(2,L,Strength,Strength,Lookback);
LastHighPivot = PivotHighVS(1,H,Strength,Strength,Lookback);
LastLowPivot = PivotLowVS(1,L,Strength,Strength,Lookback);
PreviousHighPivot = PivotHighVS(2,H,Strength,Strength,Lookback);
PreviousLowPivot = PivotLowVS(2,L,Strength,Strength,Lookback);

/////////////////////////////DT/////////////////////

If LastHighPivot <> - 1 and LastLowPivot <> -1 and PreviousHighPivot <>-1 and PreviousLowPivot <> -1

	and PreviousHighPivot < PreviousLowPivotBar + averagetruerange(10)
	and PreviousHighPivot  > LastHighPivot  - averagetruerange(10)
	and LastHighPivot > LastLowPivot + 3* averagetruerange(10)
	and LastLowPivotbar > LastHighPivotbar 

then begin

	DT = TRUE;
	end
	else begin
	DT = False;
	
end;

If DT = True then begin

	Plot1 [PreviousHighPivotBar ](PreviousHighPivot ,"DT1",Blue);
	Plot2 [LastHighPivotBar ](LastHighPivot  ,"DT2",Blue);
end;

/////////////////////////////DB/////////////////////

If LastHighPivot <> - 1 and LastLowPivot <> -1 and PreviousHighPivot <>-1 and PreviousLowPivot <> -1

	and LastLowPivot < PreviousLowPivot + averagetruerange(10)
	and LastLowPivot > PreviousLowPivot - averagetruerange(10)
	and LastHighPivot > LastLowPivot + 3* averagetruerange(10)
	and LastHighPivotbar > LastLowPivotBar 

then begin

	DB  = TRUE;
	end
	else begin
	DB  = False;
	
end;

If DB = True then begin

	Plot3 [PreviousLowPivotBar ](PreviousLowPivot ,"DB1",Yellow);
	Plot4 [LastLowPivotBar ](LastLowPivot,"DB2",Yellow);
end;

Attached Thumbnails
Double Top / Double Bottom indicator for Multicharts / Tradestation, one available?-dt.png  
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  #3 (permalink)
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Hi there, thanks very much for this but it doesn't seem to do the same as your chart when I put it on my chart...

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"The primary thing required to obtain what you want from life, is simply the will to pursue it, and the faith to believe it is possible." - Author Unknown

"The ability to maintain discipline and stick to the rules is the hallmark of the experienced successful trader" - Curtis Faith
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  #4 (permalink)
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You have to setup the indicator with points instead of lines.

However, this is not the holy grail, it will find some sweet spots but will find some bad ones as well.

You need to consider this as a starting point.

My exemple was of course a well-chosen vendor-like exemple

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  #5 (permalink)
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Ok, thanks.

"The primary thing required to obtain what you want from life, is simply the will to pursue it, and the faith to believe it is possible." - Author Unknown

"The ability to maintain discipline and stick to the rules is the hallmark of the experienced successful trader" - Curtis Faith
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  #6 (permalink)
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I don't know if this can help U but I have this indie showing HH-HL-LL-LH and also DT-DB .
It's basic but it was a great help for me at my beginning.
have fun

Attached Thumbnails
Double Top / Double Bottom indicator for Multicharts / Tradestation, one available?-dt_db_mc_2011-10-22_0045.png  
Attached Files
Register to download File Type: txt hhll.txt (2.5 KB, 151 views)
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  #7 (permalink)
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PositiveDeviant's Avatar
 
Posts: 587 since Nov 2010
Thanks: 257 given, 253 received

That's really useful, thanks. Now I just need to work out how I get it to work on a line chart. I have an indicator I created and I want to find the double bottoms / tops on that. The indicator plots as a line whereas your indicator seems to the need bar values, rather than what is provided on a line chart.

I'm getting closer to what I need though...

I think I need to be able to set my indicator as a new dataseries and then use your indicator on the new dataseries...

"The primary thing required to obtain what you want from life, is simply the will to pursue it, and the faith to believe it is possible." - Author Unknown

"The ability to maintain discipline and stick to the rules is the hallmark of the experienced successful trader" - Curtis Faith

Last edited by PositiveDeviant; October 22nd, 2011 at 12:35 PM.
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  #8 (permalink)
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Futures Experience: Intermediate
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Favorite Futures: Dow
 
PositiveDeviant's Avatar
 
Posts: 587 since Nov 2010
Thanks: 257 given, 253 received

Well I spent endless hours yesterday trying to find out how to use the indicator on this thread on my chart. My chart plot itself is the product of my indicator. I'm sure this must be possible but will most probably have to contact multicharts to find out how to do it.

"The primary thing required to obtain what you want from life, is simply the will to pursue it, and the faith to believe it is possible." - Author Unknown

"The ability to maintain discipline and stick to the rules is the hallmark of the experienced successful trader" - Curtis Faith
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  #9 (permalink)
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ISLAND SAMOA
 
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did you try to convert the priceswingindicator coded for nt into multicharts ?

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  #10 (permalink)
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ISLAND SAMOA
 
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Thanks: 0 given, 1 received


The trend;

one question: the code you have posted is for ts exclusively

did you try to dig more on the methodology to find better swing points and eliminate some candidates ?

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