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Color changing Regression Line with Paint Bar
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Created: by Gibby Attachments:8

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Color changing Regression Line with Paint Bar

  #1 (permalink)
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Color changing Regression Line with Paint Bar

New member here and have scoured the downloads for a color changing regression line with paint bar and arrows but it seems there is everything but that. A trading group I am aware of seems to be using it very successfully on the range bars for the ES, NQ and TF e minis and I'm wondering if anyone has come across such a beast.
The Lin Reg indicator in Ninja is the correct formula but is only one color and does not paint the bars nor allows for a user definable angle of the line degree changes to warrant the color changes.
I think if it contained another input for say up to 3 standard deviations from the user selected period, it would be a very useful addition to the toolbox.

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  #2 (permalink)
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hey Gibby,
do a research at the ninjaforum - you can find some nice LinReg stuff there.

max-td
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  #3 (permalink)
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Gibby View Post
New member here and have scoured the downloads for a color changing regression line with paint bar and arrows but it seems there is everything but that. A trading group I am aware of seems to be using it very successfully on the range bars for the ES, NQ and TF e minis and I'm wondering if anyone has come across such a beast.
The Lin Reg indicator in Ninja is the correct formula but is only one color and does not paint the bars nor allows for a user definable angle of the line degree changes to warrant the color changes.
I think if it contained another input for say up to 3 standard deviations from the user selected period, it would be a very useful addition to the toolbox.

Hey Gibby,
Please post a screenshot of how this should look with the LR and the paintbars. I've got one with the colored line available and can modify it for the paintbars unless one of the other coders gets to it first. I'm curious how it's being used by the "trading group" you mentioned. (i.e. what period settings, what other standard deviation settings, what range for bars, etc.)
Kirk


Last edited by zeller4; September 9th, 2009 at 08:25 AM.
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  #4 (permalink)
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Here's my version of the LinReg with colored LR plot with Paintbars

Hope you can use it for successful trading.

Kirk

edited portion below:
9/10/09
1st screenshot has colored line plotting to slope of lin reg plot
2nd has paintbars "True" in UI

test the angle settings as you prefer - please post screenshots of your preferred angles when you get a chance

ps - the EMA_Colors indicator is the basis for this - the paint bars in that file weren't working as I would expect due to a missing BarColor call starting at line 69
 
Code
                            
if(ema34slope>=angle2)
{
 
//Find&Replace EMA(Period) durch ZeroLagEMA(ZeroLagEMA(15), 15)
 
EMAslopeup.Set(1,ZeroLagEMA(ZeroLagEMA(period), period)[1]);
EMAslopeup.Set(ZeroLagEMA(ZeroLagEMA(period), period)[0]);

If anyone has used differing colors for painting when the slope is steep vs. shallow, please let me know how you've resolved this.

Attached Thumbnails
Color changing Regression Line with Paint Bar-cl-10-09-9_10_2009-4-range-.jpg   Color changing Regression Line with Paint Bar-cl-10-09-9_10_2009-4-range-b.jpg  
Attached Files
Register to download File Type: zip Lin_Reg_Color_Paint_v01.zip (6.2 KB, 107 views)

Last edited by zeller4; April 6th, 2010 at 06:44 PM. Reason: went back to EMA_Colors file for dashed lines instead of old one - just overwrite the other file...changed to non-repaint ver
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The following 7 users say Thank You to zeller4 for this post:
 
  #5 (permalink)
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This works great zeller4. I use the colors like you have them but would just prefer a solid line versus dashed. The setting is angle 5 (for both) and try 5 range bars for the ES, 12 range for NQ and 8 range for TF. The color change (other than neutral) gives you direction and the line itself can act as a stop. I also like the TSSuper Trend (Close8,HMA, 1.786, 4 ATR) hash lines as another stop idea for the ES anyway. The Donchian Channel in NInja set to 5,5 or 6,6 gives nice step visual and can act as breakout line warning as well.

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  #6 (permalink)
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Sorry forgot the setting for the LInReg which is 21 periods....lol

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  #7 (permalink)
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DonchianChannel only has 1 parameter (versus another custom indicator I have which does the same thing but allows for different number of high or low bar look back periods, which is unnecessary). So choose a 5 period minimum and up to 10. You can set the DonchianChannel plot to Square instead of Line to get the nice step up/down effect.

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  #8 (permalink)
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Hi Gibby,

I am very intrigued by your trading style - I think it has a lot of potential.
Would you share the entry / exit and trade management that you use or maybe just
a couple of screenshots...

Zeller - great job on the indicator!

Regards

Mick

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  #9 (permalink)
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nice job on the indicator zeller4

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  #10 (permalink)
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looks a lot like this commercial "snake" indicator package .... lol

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