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

  #1 (permalink)
Trading for Fun
India
 
Futures Experience: Intermediate
Platform: Amibroker
 
linkon7's Avatar
 
Posts: 73 since Sep 2010
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Help needed to convert my system to Nt7...!

Can some kind soul please help me by converting my system to NT7. I use amibroker and want to shift to nt7 as amibroker uses 5 sec snapshot and is very poor at handling range bars and volume based bars.

my system looks like this...

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I have attached the code of amibroker.

Thanks in advance...!

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  #3 (permalink)
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Trade logic of the system...!


Advanced PA traders have years of experience and are experts at subjective reading of price action on the chart. They prefer having simple price charts with bare minimum indicators cluttering the chart.

I prefer having a set of rules that are easier to follow and prefer having arrows that tell me when to take the plunge. I rather have the system does all the brain storming and leave me with simple option of just pressing the trigger , enter the stop loss printed in bold on the screen, place my take profit level, tells me when to add to my position and when to cash in all my chips.

There is a big problem when we try to mathematically define human traders making trading decision based on their own analysis on their own time frame and their desperation to act is plotted on the chart in the form of price bars/ candles. Price movement is totally random and its foolish to predict which direction market will move. However it is possible to identify certain patterns that has a habit of repeating itself.

On a trade by trade basis, it is impossible to know which trade will work. But over a series of trades, taken based on the same pattern, the trader has an edge as law of average will ensure profitability.

This system is one such attempt at identifying such patterns.

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  #4 (permalink)
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trading or trending...!

Our first objective is to isolate when market is in a trading range and when its is suffering a range extension that can possibly give rise to a trend.

When market is sideways and is trading between a narrow band, it normally signifies an absence of bigger time frame players. We need to fade the extremes on such days and cannot afford to wait for confirmation as that will delay the entry and effect a poor trade location.

To demarcate the sideways phase of the market, i use the concept of TTM squeeze, only instead of using keltner band, i prefer using accelerator band of Price Headley and its co-relation with boilinger band.

A simple price chart like this
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becomes something like this when i add the accl band and BB band.

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The band in yellow is the standard boilinger band.
The band in blue is the accl band.

Boilinger band is designed to measure the std deviation of the close of the price bar from the simple moving average. Accl band is also a volatality band, but it is more adaptive in nature and tries to keep 95% of the price action inside the band. unlike the Boilinger band, it does not try to encapsulate all the price bars and lets price accelerate out of the band.

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accl band & BB band

The 2 bands together form the backbone of this system.

when the yellow band (BB) is inside the blue band (ACCL) then, we can assume that price is trading in a range and preferred entry would be closer to the bands with a target of exiting all positions near the opposite end.

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  #6 (permalink)
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When the blue band is inside the yellow band, we can assume that market has picked a direction and we want to ride this moves while adding on to our existing positions.

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  #7 (permalink)
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personally i prefer using a cloud to fill the gap between the two band. When the accl band is inside the BB band, the color is blue. A ribbon below the chart confirms me that a trend is in place.

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when the BB is inside the accl band, that's the fade the extreme phase of the market... i prefer having the cloud painted dark green and the ribbon painted as yellow. This phase is when i want a hit-and-run kind to trade where i scalp from one end of the band to the other.

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Last edited by linkon7; August 26th, 2011 at 02:15 AM.
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26th AUG...

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Had 3 trades today so far...
2 great trades that met tgt..
one that i got partial exit... and balance hit sl...

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I looked over the script for your indies yesterday.

They should be easy to script, particularly the oscillator in the bottom. The one at the top as well, although it was longer and I didn't look at it as much.

I dunno if you still want this in NT7? But this weekend I should have some time to lend a hand.

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  #10 (permalink)
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forrestang View Post
I looked over the script for your indies yesterday.

They should be easy to script, particularly the oscillator in the bottom. The one at the top as well, although it was longer and I didn't look at it as much.

I dunno if you still want this in NT7? But this weekend I should have some time to lend a hand.

Thanks for your trouble. reason for shifting to nt7 is its better handling of range bars and other bar types.

The oscillator at the bottom is a simulation of the price action on the top chart, where we track the momentum and look valid divergence at the extremes.

appreciate your effort....!

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