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Help needed to convert my system to Nt7...!
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Help needed to convert my system to Nt7...!

  #31 (permalink)
Urban Samurai
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linkon7 View Post
Next challenge is to plot the stoploss on the chart.

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linkon7 View Post
we then make the band invisible

We now have accomplished a very important task of our where our stop loss should be.

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Help needed to convert my system to Nt7...!-prime2011-09-02_105605.jpg   Help needed to convert my system to Nt7...!-prime2011-09-02_105709.jpg  

Last edited by forrestang; September 2nd, 2011 at 01:04 PM.
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  #32 (permalink)
Trading for Fun
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Exit strategy...!

The most difficult challenge of any trading system is designing the exit. This is where the individuals risk profile comes into the picture.

I personally prefer exiting 50% of my positions at predefined location and then once my balance holding is free of risk, even if stop loss hits, i can breathe easy and even show guts by adding to my positions if i am in deep profit.

To design an exit, I prefer looking at momentum indicators, preferably rsi or CCI or a custom variation of these 2. I believe Momentum always precedes price as divergence will show a maturing trend.

First we have to build our indicator from the scratch. Target is to simulate our method on price chart on a momentum indicator.

We'll start with simple rsi (21). smooth-en it, by taking the Double Exponential Moving Average (period 7) of RSI(21).

R = DEMA(RSI(21),7) ;

plot R
plot the 30 and 70 level

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Next we plot a signal line by taking the 5 period exponential moving average of R

signal = EMA(R,5)

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Now we want dynamic support and resistance on this R

so we take boilinger band of R, period 25, std deviation 2

Resistance = BBandTop ( R , 25 , 2 )
Support = BBandBot ( R , 25 , 2 )

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Now we shift this resistance and support line 3 bars to the right.

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The next part is pure eye candy, but i like my charts to be colorful and vivid. Trading is a boring job, atleast the charts should look colorful.

Now i am going to fill the gap between 30 and support line with dark green

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and fill the gap between 70 and resistance with dark red

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And finally highlight the zone where R has pierced the support / resistance with bright colors.

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Now we have a indicator that compliments our price chart nicely...

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  #33 (permalink)
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The oscillator is working.

I'm still messing with the plot and getting some colors to fill in. Will post back in a bit.

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Help needed to convert my system to Nt7...!-step1.jpg   Help needed to convert my system to Nt7...!-step2.jpg  
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  #34 (permalink)
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Need your opinion on something.

For when you get the piercing of the R value into the and beyond the Bollinger Support, you want to see the color change shown. Which one of these appearances do you prefer? To light up the entire column, or just the pierce.

I think the slight pierce looks better, but the whole column is more obvious.

Only asking cause I ACCIDENTALLY produced the one with the column and initially couldn't figure out how to reproduce the look you showed in your charts.

Just a note, I figured it out and can do it either way.

Attached Thumbnails
Help needed to convert my system to Nt7...!-option1.jpg   Help needed to convert my system to Nt7...!-option2-2-.jpg  

Last edited by forrestang; September 2nd, 2011 at 07:03 PM.
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  #35 (permalink)
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forrestang View Post
Need your opinion on something.

For when you get the piercing of the R value into the and beyond the Bollinger Support, you want to see the color change shown. Which one of these appearances do you prefer? To light up the entire column, or just the pierce.

I think the slight pierce looks better, but the whole column is more obvious.

Only asking cause I ACCIDENTALLY produced the one with the column and initially couldn't figure out how to reproduce the look you showed in your charts.

Just a note, I figured it out and can do it either way.

The first image looks perfect....!

so far an excellent job and I really thank you for ur effort....!

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  #36 (permalink)
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Next is the direction of trade. I believe that i can afford to be brave if i am trading with the bigger trend. I'll avoid contra trades all together as system will always give opportunity to trade both ways.

If i get a bad trade location, there is a higher probability that my stoploss will be respected if my trade is in the directon of the major trend. Spikes / gaps normally has a tendency to happen in the direction of trend. Even if my stops get hit, i can always re-enter with lesser fear as I know i have the big daddy of trend behind me.

So bottom line... NO CONTRA....!

50 sma (Simple Moving Average ) on 2.5 times the trading time frame will be my principal guide to the trend.

Since i plan to time my entry on 2 min time frame,
50 sma on 5 min tf = 250 sma on 2 min tf

The info generated from 250 SMA will be plotted as text on the price chart and as a small ribbon with colors that tell me the health of the market and what kind of trade management i should employ.


Last edited by linkon7; September 3rd, 2011 at 03:43 AM.
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  #37 (permalink)
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Trend analysis....!

I'll be using CCI indicator to gauge the health of the market. The interpretation of CCI indicator is inspired by a very good trader / mentor who goes by the alias of SMART_TRADE in indian trading circle. He once told me that i should wait for the trend to make sound like a pop corn bursting out of the pan before i go in for the kill, hence i named it ST's Pop Corn.

Essentially CCI measures the distance between SMA and the (High + LOW+ CLOSE)/3 of the price bar. It is designed so that 68% of the trading range falls between the 100 to -100 mark.

so we plot CCI with period as 250

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we plot 100 and -100 mark on the chart...

will continue wt this in the evening....!


Last edited by linkon7; September 3rd, 2011 at 05:28 AM.
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  #38 (permalink)
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Ten Characters....

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  #39 (permalink)
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Here's a look @ the latest look of the indie. Showing the user interface here with plot options etc.

Also, with the coloring on the main price panel, I am not sure if that is correct? I'm filling in those areas where the accls are inside the bbands, and im not sure if it should fill in the balloon area you didn't want to see earlier?

From your last chart, it looks like you just want to show the areas where the bband is INSIDE the Accl correct?

At any rate, that area can just be set to transparent at all times.

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Help needed to convert my system to Nt7...!-prime2011-09-03_152402.jpg   Help needed to convert my system to Nt7...!-prime2011-09-03_152424.jpg  
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  #40 (permalink)
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forrestang View Post

At any rate, that area can just be set to transparent at all times.

BTW.... those arrows, they are only the arrows when the bottom of the worm breaks out of the top Accl, or when the top of the worm breaks out of the bottom Accl. I wasn't sure about the others.

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