Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I was wondering if anyone knew how to code a signal that would identify a head and shoulders pattern with own parameters to make up the pattern. I don't know how to code but this would be nice.
Can you help answer these questions from other members on NexusFi?
When creating a new thread, note which subforum you are in. Here is a short list of suggestions:
- Topic: Anything to do with an Elite indicator -> Subforum: The Elite Circle
- Topic: Looking for an existing indicator, or how-to use an indicator -> Subforum: (the platform)
- Topic: Programmer needing help with non-Elite indicator -> Subforum: (the platform) - Programming
- Topic: Want an indicator created/modified -> Reply to "Want indicator created free" in Elite Circle
- Topic: Vendors (trading rooms, commercial indicators) -> Subforum: Vendors/Product Reviews
- Topic: Discussion of Forex or Currency trading -> Subforum: Forex and Currency Trading
- Topic: Journals of your trading -> Subforum: Trading Journals or Elite Trading Journals
- Topic: General trading related discussions -> Subforum: Traders Hideout
- Topic: Discussion of a trading method -> Subforum: Traders Hideout
- Topic: Automated Trading -> Subforum: Elite Automated Trading
Last, any Elite Member may create more or less any of these topics in The Elite Circle at your own discretion (your support is appreciated).
This is just a short general list and doesn't cover everything. If you are unsure where to create your new thread, just create it in Traders Hideout and a moderator will move it if necessary.
Just for concept, what about looking into one of the ZZ indicators?
A head and shoulders top could be described as a two HHs followed by a LH for example. Anytime the ZZ sees that pattern you could have it highlighted and brought to your attention. There will be some nuances in there with the zz missing some, and mislabeling of course.
The limitation with the ZZ is that it has a set length. A way to get around that would be to combine a series of ZZ indicators together. And the more lengths you use together would give you more pictures of the H&S pattern. For example the one with the length of 4 will pick up smaller ones than the zz with a length of 10.
Thanks guys I just thought it would be usefule for everyone in the room to have an alert on your chart along with a line drawn connecting the bars that would form a head and shoulders on the chart. This obviously would have to come with some parameters that the user may want to adjust. For instance how deep and how long. I was just curious because after watching numerous videos of people trading always refer back to the head and shoulders. Then they say didn't you see that H&S pattern that formed. Sometimes I miss it and that's why I was wondering if anyone knew how to do this. I wish I could code and I would make this for everyone but I don't know how.
I would imagine for a pattern like this, it has already been coded in some language... whether it be EasyLanguage, MetaTrader, Wealthlab, something somewhere could be used as a template for your ninjascript code.
But like others have said, you need to first quantify what a H&S is in terms that can be described by indicators like ZigZag for instance.
The code would be very similar to the "Woodies Ghost" indicator . There were some Woodies Pattern recognition indicators for NT 6.5. I haven't updated them to run on NT7 . But it should be a simple project for a programmer.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"