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and was curious as to whether someone talented person has programmed for Ninja as yet?
Listed below are suggestions from the thread --
All it is doing is plotting the point where the 100, and 110 EMA crossed and where 50 RSI is above or below centerline at that point.
instead of using an indicator to show the RSI arrows I suggest that you use a candle colouring idea. Look for an indicator called "rsi candles". make them blue if rsi > 50 and red if rsi < 50. now you have both the rsi concept and price action information in the candle itself. If you look at my previous post with the chart you will see that I have 6 different candle colours on it....Red, tomato, Blue, dodger blue, white, black.
Thanks a million for any help
Can you help answer these questions from other members on NexusFi?
The indicator is pretty simple to code in NinjaTrader, I will probably do it in a few days, just don't have time this week. It is just built from a 10-period RSI, which is used for entry timing and two slow EMAs with periods of 100 and 110, which are used as a trendfilter.
This is a promising start, as I believe the method has its merits. I like this type of entries myself. I also use an oscillator (it is a modified MACD and not a RSI, but this does matter a lot) and a longer term trendfilter (I use a modified Supertrend and not an EMA, but again this does not matter).
There are also indicators, which use a smoothed line of its own value as a trendfilter, such as the Trader's Dynamic Index. It would be interesting to compare them with this indicator.
This could also be a base for a strategy, but then someone would have to add an exit signal and a trailing stop.
I created a real quick very simple strat for another member the other day that was very similar.. Thought I'd take a quick minute and modify it to fit this.. It's very crude, and put together in the wizard so that everyone would be able to work with it.. Sorry for the name but the strat wizard seems to have limitations in saving as.. It currently is only set up for the long side, and uses fix 25tk target and stops.. At first it did happen to look promising, that is until I added 2tks of slippage.. still 50/50.. so some tweak'n might get ya somewhere.. but if nothing else, hopefully it might get some people thinking and started in the right direction..
Edit: Opps.. saw a small mistake in how I used the Rsi variables.. updated zip and this version is fix'd.. same results though.. sorry..
Oh.. I wasn't planning on taking this anywhere.. Just happened to have done something very similar for another member the other day, and since it only took a couple mins to change the variables around.. figured I'd do that, post it here, and give ticnau or others the idea for a starting point...
