Hi, I've done my research, googled, searched here, etc. I found a bettertrin indicator for NT and even imported it into NT7, but I don't think it's displaying properly. I use ampfutures/cqg data, and on their website it says they support Trin data. NinjaTrader/CQG Supported Indexes
I've attached a screen shot of it in my ES chart. Not sure if it needs to be coded properly. Totally programming illiterate here.
Here's how Chris describes the "Trin". Doesn't resemble mine at all:
The Filters I Recommend Using
There are two types of filters that I will briefly touch upon here, essential and non-essential. The one essential filter, TRIN, is a tool I use every day. I do not personally use CCI or Time of Day, but others that I have taught the 3-Line Break Method have found them useful, so I include them here. Essential TRIN – As mentioned earlier in the discussion on the strategy "Catching the Train That Left the Station Without You," the TRIN is:
The advance/decline ratio divided by the advance volume/decline volume ratio
TRIN is used to measure overbought and oversold conditions in the market. Its popular use is as an "end of day" indicator. However, some quote systems provide real time intraday TRIN and it is this intraday version of TRIN that I apply to my trading.
Using the TRIN, you would only take long entries when the TRIN is below 1.00 and short entries when the TRIN is above 1.0. This is a very simple but effective filter to apply whenever TRIN reaches these extreme thresholds. You'll see examples of this in the real world trading simulations in Section V.
You should attach the indicator if you want someone to look at it for you.
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The following user says Thank You to Big Mike for this post:
Not sure what you have there, but it is not $TRIN the calculated value , is it being used some other way or just an indicator named trin?
If you are referring to $TRIN the calculation is in your quoted post
... in "Mastering The Trade" John Carter suggests that a close above 2.0 has 80% chance of next day rally and a close below .60 has 80% chance of selling off next session --- otherwise to use as a confirming tool , if Market is in an up trend and $trin is trending down it's another confirmation in the bag of tricks
(the symbol for the $TRIN index value is quoted by your broker or quote feed if you have $NYSE quotes and you will only recieve quote when NYSE is open so to have yours working means you are using ES as your source - you will not get $TRin from there )
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Last edited by GridKing; August 19th, 2011 at 11:29 PM.
As you have probably figured out TRIN is a market breadth index (ARMS index) available from CQG and other sources. BetterTrin is a Barry Taylor indicator available for Trade Station from emini-watch.com
I have the BetterTrin indicator itself working on NT7 but more interesting is the oscillator with divergence that Barry sells. Unfortunately there is no version of this oscillator for NT. I suppose one could buy the Trade station version (very modest cost) and have it converted to NT for a cost (to be determined). I'd be interested in a joint venture of this sort. We would have to consult with BT regarding legal proprietary issues, etc.
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Better TRIN step by step
This is pretty simple as long as you do it on a time based chart. Start by adding the TRIN as a secondary dataseries.
Next plot the inverted logarithm of the TRIN. There are lots of oscillators that you can apply to that plot, pick the one that you like best.
Code has already been posted on futures.io (formerly BMT) for detecting divergences between oscillators and chart master instruments. There you have it.
I played around with this for a while but it seemed to me that the inverted log of the TRIN somewhat lagged the price action of the equity index futures. Your results may differ! However I think that better results may be obtainable with NYSE Advancing minus Declining issues, and NYSE Net Volume.
The following 2 users say Thank You to Zondor for this post:
i'm interested in his system based on the oscillator so i guess i'm going to pony up the dough for the trade station version anyways, i was just hoping somebody had done the coding in NT so i don't have to.