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BBANDS DOTS MTF FOR RANGE BARS
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BBANDS DOTS MTF FOR RANGE BARS

  #21 (permalink)
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SuperTrendU11 versus BBandsDots

The internal mechanics of the BBandsDots is pretty similar to the SuperTrend. The charts below show a comparison of the two indicators.

SuperTrendU11 settings:

Baseline = SMA
Offset type = standard deviation
Baseline period = 21
offset multiplier = 4

BBandsDots settings:

(is based on an SMA by definition)
(use standard deviation by definition)
SMA period = 21
offset multiplier = 2
extension factor = 2

Offset multiplier and extension factor can be multiplied (2 * 2 = 4) to find the comparable multiplier for the SuperTrendU11.

In a direct comparison the BBandsDots look slightly better, so it might be worth to extend the concept to work with other moving averages.


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  #22 (permalink)
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Use chandelier or SuperTrend to reduce the initial stop

I have tested a number of additional filters to reduce the initial stop.

The result in short:

The overall performance of the indicator was not improved. With narrow stops the performance was even considerably worse. With wide stops the performance was not affected. The additional stop would reduce a few losses, but then occasionally produce two whipsaw trades. In the end there was no significant improvement.

Therefore I have left the indicator without an additional filter for the initial stop.

The way to improve the indicator now is to add different options for moving averages.

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  #23 (permalink)
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Sorry, nearly forgot to complete the indicator. It has become another type of trailing stop, quite promising though.

Here are the changes that I made

-> separate periods can be selected for the moving average and the standard deviation
-> added an option to select from median and 28 different moving averages
-> calculation of moving average is done for the prior bar, same applies to volatility
-> paint bars and sound alerts added

The indicator is ready for testing. Please let me know, if you wish to test it, and I will send it via private message.
I will publish the indicator in the download section, after the tests.

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and with different settings:

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Last edited by Fat Tails; May 27th, 2014 at 06:13 PM.
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