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do you use this Swing Indicator? Just looking at it, I wonder whether it shows some sort indicator of chop or the extent of choppiness, like how many times the swing count is broken?
You can discover what your enemy fears most by observing the means he uses to frighten you.
Can you help answer these questions from other members on NexusFi?
Totally re-wrote the indicator along the lines I outlined. Turned out to be best to do it a bit differently.
It's all in one indicator, there was no point in making seperate indicators for different components that would generate the price levels. Now I've got a new Plot() overriding the original. Took a bit of head-scratching and there were a few NinjaTrader built-in problems. A lot of it is unsupported which means NinjaTrader reserve the right to change NinjaScript in ways that will foobar the indie, but that's the only way it can be done.
Having some major problems debugging the session times for the session highs/lows S/R lines I want to include. Print() is not the quickest way to debug. Otherwise I thought I'd have another version to post here. Will have to wait til tomorrow.
You can discover what your enemy fears most by observing the means he uses to frighten you.
Apology for the late reply. I use the Price Action Swing Pro (PAS). I am only using the Volume information from it.
Actually, I will need to have it recoded to align with the subpanel indicator. It doesn't recognize the double tops/bottoms my indicator points out. A dbl top or dbl bottom cannot be taken unless price has moved at least within a 4 tick span.
I've also discovered a divergence trade setup using the same subpanel indie. I call it "Kbar"
I believe these two setups can be accomplished from within the PAS or swing indicator.
I included a couple of picks to show the accuracy of this Algo on the ES. It would be a nice algo to run were it properly set up.
Thanks @COTtrader, thanks for the input. That's something I'll have to look at later. At this point I'm haven't got as far as something as relatively complex as double bottoms. The swing points I coded the indie to recognise are all single.
I'm putting up version 3.
All the code is in the one indicator. It's getting big, unavoidable though. I've now made it load up user-defined amounts of different time-frame bars to scan for swing points. There's 15 mins, 30mins, 60mins, 120mins, 240mins, daily and weekly to choose from.
Plus I've added the ability to define the high and low for two user-defined "sub-sessions", putting in the start and finish times.
Plus it marks round numbers.
The worst part is the fiddley stuff, and there's much more of the fiddley stuff to be done.
The first thing that is noticeable is that the labels just overlap when space is tight and it becomes illegible.
Later one I'll re-write the list of functionality still required.
You can discover what your enemy fears most by observing the means he uses to frighten you.
it turns out my original thoughts on keeping indicators seperate was nice but just not possible.
It should be really easy to add user-defined S/R zones, using parameters for price range, date/time range and desired color. I assume it's only 1 you want - what do you use it for?
You can discover what your enemy fears most by observing the means he uses to frighten you.
List of things to do, in rough order of importance:
research whether there is any way to have the labels show only on mouse-over of a small part of the line
parameterize how many bars either side of the swing high / low are needed to make it a swing high / low. It's currently fixed at 2, but 3 or 4, or 3 before, 2 after might be better (this might be an effective way to cut down the number of lines)
automatically merge S/R lines that are close together, with a parameter that tells the indie what "close together" actually is in terms of ticks
add a rule to kill off S/R lines when they invalidate themselves - I'll have to go over the charts to work out what best represents a killer event
add the ability to downgrade S/R lines that come from uninteresting hours, e.g. the Asian session during the EUR/USD forex day, by using 3 bars either side for the definition of swing points (might not be so useful, but interesting to try out)
hide S lines below the market on the chart and hide R above it
instead of just a line for a level, create a zone based on how the swing point was formed, e.g. just the tails of the candles, or the hi and low of the small candle in a morning star candlestick pattern etc.
create a dataseries property with all the levels in, which a strategy can call
Taking care of the labels is the worst on the list because I have no idea how to do it, but there's got to be a way. Doubt I'll get any help from NinjaTrader Support on it. I'm hoping they'll have an example they can give me rather than just a straight "sorry that is unsupported".
You can discover what your enemy fears most by observing the means he uses to frighten you.
no I didnīt mean only 1 but rather generally for all lines, though after rethinking that, itīs not reasonable. It would only make sense to apply it for the weekly S/R levels and perhaps for the daily. Then the opacity of the desired color and the tick offset from the mean should be user definable.
The thought behind the zones is to create buy and sell areas because the price often exceed the S/R levels only to come back and go the other way (false breakouts).
It is posiible to add also monthly S/R levels?
Adding monthly S/R levels shouldn't take more than 15 mins to add. I should be able to do that at some point soon even though the labels and the merging the close-together zones is a pretty big priority right now - I find I'm only using it for session highs and lows at the moment because of too many lines from the 60min time-frame alone.
I didn't understand the rest of what you said - apart from the bit about break-outs. What's the tick offset from the mean in terms of S/R levels?
You can discover what your enemy fears most by observing the means he uses to frighten you.
I am sorry that I explained it a bit complicated. Assuming that the S/R level is 100 and 5 tick offset is choosed, the zone display would be from 95 to 105. Five tick above and five tick below the S/R number. I hope itīs understandable now.
It is possible to only plot the lines of support and resistance for a range chart without looking to a 15 minute candle chart? when i tried it plotted a lot of lines and my ninja didnt respond for 5 minutes. I just want it to plot the last 3 days Sup/Res lines.
