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PriceActionSwing discussion
Started:November 23rd, 2009 (11:23 AM) by dorschden Views / Replies:392,466 / 1,346
Last Reply:Yesterday (10:04 AM) Attachments:423

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PriceActionSwing discussion

Old March 11th, 2011, 10:09 AM   #161 (permalink)
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ABC Opacity

Hi dorschden,

I can't thank you enough for sharing this indicator. It really provides another layer of context to price action.

I was wondering if it would be possible to add a level of opacity to the ABC triangles. I think the thickness of the ABC lines is fantastic however as a current (this bar) ABC is forming the thick C leg of the triangle makes it difficult to see the underlying price bar.

Best regards,

Bondi 9999

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Old March 16th, 2011, 03:19 AM   #162 (permalink)
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m,arket analyzer


dorschden View Post
Use this thread to discuss the PriceActionSwing indicator. Discussion about the newest version started here.

Download PriceActionSwing

Any comments and suggestions are welcome!

The PriceActionSwing indicator calculate swings in 3 different ways and visualize them.
(category = parameter)
- Standard
- ZigZagUTC
- PSAR

To create your own look 'n' feel you can adjust almost everything. For details see the description of each entry in the parameter list. If you want a clear chart you can disable all displayed information and features.
Attachment 12993

It visualize the swings with dots and/or zigzag lines and display several information about it.
(category = Display - to switch on/off the information and
category = Visualize to change the colors and stuff like this)
- length in ticks, points, percent
- duration in bars
- label (HH, HL,...)
- volume
- retracement in % of the last swing
- the type of the swing with colors (gold for double bottom/top, red for lower and green for higher swings)

It has some optional extras
(category = Features - to switch on/off the xtras and
category = Visualize features).
- AB=CD entry area
- Fibonacci retracement and extensions
- swing statistic

The Fibonacci retracements and extensions are the standard ones of Ninjatrader. If you want to change some numbers or colors you have to change the default values of the NT Fibonacci retracement and extension.

Statistic
The first and second line look something like this
Up: 230 - Length all/last: 34/36 - Bars all/last: 14/16
This means there were 230 up swings with an average length of 34 ticks and the last 5 swings have a length of 36 ticks and the average swing duration is 14 bars and the last 5 swings have a duration of 16 bars.

The other lines look something like this
HH(94) followed by - HH: 44,7% - LH: 52,1% - HL: 66% - LL: 26,6%
This means there were 94 higher high swings and the next up swing that followed this higher high swing was in 44.7% cases a higher high and in 52,1% cases a lower high. The down swing after this 94 higher high swings were in 66% cases higher lows and in 26,6% lower lows.
That shows for example the high probability that you can set your stop under the last swing low and your stop is only hit in 26,6% of all cases. Sum up the first and second value (next up swing) are not every time 100% because double bottoms/tops are not considered. The same is true of the third and fourth value (next down swing).



The download contains a second indicator called PriceActionSwingRelation. Look for long entries if the value is above 0 and for short vice versa.
-2 = DT
-1 = LL and LH
0 = price is nowhere
1 = HH and HL
2 = DB

You can also use this information in other indicators or strategies.

 
Code
// See where price is in relation to the swings
int priceSwingRelation;
priceSwingRelation = PriceActionSwing(calcMode, calcSize, dtbStrength, psarAcceleration,
  psarAccelerationMax, psarAccelerationStep).PriceSwingRelation[0];
 
// True, if the indicator flips from searching swing lows to swing highs
bool upFlip;
upFlip = PriceActionSwing(calcMode, calcSize, dtbStrength, psarAcceleration,
  psarAccelerationMax, psarAccelerationStep).UpFlip[0];
 
// True, if the indicator flips from searching swing highs to swing lows
bool dnFlip;
dnFlip = PriceActionSwing(calcMode, calcSize, dtbStrength, psarAcceleration,
  psarAccelerationMax, psarAccelerationStep).DnFlip[0];
The PriceActionSwing indicator is very useful to see and trade pure price action with HH, HL in uptrends and LL, LH in downtrends. And you can easily identify and trade price pattern like double tops, wedges, HS,

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New NT7 statistic panel
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Swing labels
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Version 1.2 - 04.05.2010
- Add ZigZagUTC and PSAR mode
- Add swing volume
- Add PriceActionSwingRelation indicator
Version 1.2.1 - 10.05.2010
- Add relative swing volume
Version 1.3.0 - 06.06.2010
- Exact swing volume calculation for CalculateOnBarClose = false
- Add UpFlip/DownFlip series for use in other indicators/stratagies
- Add swinglength = SwingPriceAndPoints/-Ticks
- Displace statistic from the chart to a text box panel (NT7 only - NT6.5 on the chart)
Version 1.3.1 - 07.06.2010
- Add swing labels


Any comments and suggestions are welcome!

dorschden


Tip

BEST OF TRADING 2010 AWARD

PriceActionSwing was nominated for the Best Indicator Of The Year for 2010, and won 3rd place (Bronze).

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You can see all the results here:
Best Of Trading 2010 - Big Mike Trading


*trying to optimize it for market analyzer* any suggestions would be thankful

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Old March 16th, 2011, 06:32 AM   #163 (permalink)
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Best Set Up Team

Has anyone used this successfully and if you have been using this indicator in your trading has anyone come up with the optimal set up that gives 75 to 90 % accurate signals.

Would love to hear from the room and see what people think of this wonderful indicator.

Thanks to everyone who contribute and made this indicator possible


sharmas

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Old March 16th, 2011, 06:34 PM   #164 (permalink)
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Trading

hi Sharmas

If I can be so bold, I think part of the work involved in trading is to really discover the correct mix for yourself. The very top traders in the world spend hours honing a system such that they can make it theirs. At the end of days, weeks or even months they finally have something that works, makes money & most importantly they know intimately. Incidentally once they have done that, the chances of them sharing that around are.....

If you want some help, perhaps trial a few things then come back with specifics, "I've tried this, what happens here, what do I do in this instance et al"

Hope that helps.

Michael

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Old March 17th, 2011, 12:44 AM   #165 (permalink)
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brightredmegaphone View Post
hi Sharmas

If I can be so bold, I think part of the work involved in trading is to really discover the correct mix for yourself. The very top traders in the world spend hours honing a system such that they can make it theirs. At the end of days, weeks or even months they finally have something that works, makes money & most importantly they know intimately. Incidentally once they have done that, the chances of them sharing that around are.....

If you want some help, perhaps trial a few things then come back with specifics, "I've tried this, what happens here, what do I do in this instance et al"

Hope that helps.

Michael

chances are ..... zero!

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Old March 20th, 2011, 10:29 PM   #166 (permalink)
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dorschen
Many thx for this indicator.

Ought the Fib lines stop extending to the right ?
(as per attached chart)
If so, is there a way to have them continue, at least until a new
HH or LL etc, has been formed ?

Many thx

Attached Thumbnails
PriceActionSwing discussion-price-action-fib-lines_1-es-06-11-4-range-20_03_2011.jpg  
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Old March 21st, 2011, 03:16 PM   #167 (permalink)
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New version!!!

I'll uploaded a new PriceActionSwing version (Download PriceActionSwing). See the first post of the thread for more information about the indicator.

Version 1.5.0 - 21.03.2011
- Add Gann swing calculation
- Remove PSAR and ZigZagUTC swing calculaton (If you used one of them, let me know and maybe I'll re-add them, but I think almost nobody used them)
- Add Gann style for the visualization
- Add public swingTrend series - could use in other indicators or strategies
- Unique entry arrow ID for each ABC entry

For NT 6.5 user I exported this with Ninjatrader 7.0.1000.4, so the import in NT 6.5 will not work. But you can extract the cs files and copy them into C:\Users\User\Documents\NinjaTrader 6.5\bin\Custom\Indicator and edit an indicator in Ninjatrader and compile it. I didn't test it with NT 6.5 because I haven't it anymore.

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dorschden

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Old March 21st, 2011, 03:27 PM   #168 (permalink)
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Bondi9999 View Post
I was wondering if it would be possible to add a level of opacity to the ABC triangles. I think the thickness of the ABC lines is fantastic however as a current (this bar) ABC is forming the thick C leg of the triangle makes it difficult to see the underlying price bar.

Hey Bondi9999,

Unfortunately I think it isn't possible for lines to set an opacity. You can only make the lines smaller with the "width" parameter or change the level of the bars in the chart.


mystiq View Post
*trying to optimize it for market analyzer* any suggestions would be thankful

Hey mystiq,

you have to add DataSeries variables with the specific values to the indicator. The DataSeries must be public to get access from the marekt analyzer.


zt379 View Post
Ought the Fib lines stop extending to the right?

Hey zt379,

to extend the Fib lines to the right you have to change your default settings for the Fibonacci retracement/extension. The indicator draws the default Fib tools of NT.

dorschden

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Old March 22nd, 2011, 11:52 AM   #169 (permalink)
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thank you very much for this valuable tool.

the swing trend might be a very good "filter". I tried to implement a paint bar study instead of the lines on the bottom of the chart. needless to say I didn't get very far. any help would be very much appreciated.

thanks again.

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Old March 22nd, 2011, 11:56 AM   #170 (permalink)
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dorschden View Post
I'll uploaded a new PriceActionSwing version (Download PriceActionSwing). See the first post of the thread for more information about the indicator.

Version 1.5.0 - 21.03.2011
- Add Gann swing calculation
- Remove PSAR and ZigZagUTC swing calculaton (If you used one of them, let me know and maybe I'll re-add them, but I think almost nobody used them)
- Add Gann style for the visualization
- Add public swingTrend series - could use in other indicators or strategies
- Unique entry arrow ID for each ABC entry

Well done. I will send out notification emails --- over 5,000 of them

Mike

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