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New Paintbar 4 Shortterm

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Updated by wh
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New Paintbar 4 Shortterm

  #1 (permalink)
Neubrandenburg, Germany
Experience: Advanced
Platform: R
Trading: Stocks
wh's Avatar
Posts: 538 since Jun 2009
Thanks: 297 given, 501 received

New Paintbar 4 Shortterm


i will follow the sharky rule, but i am not disciplined. i want to trade all ...
so i look for a conservative style. i want to trade 2 or 4 trade pro session and will hope it helps ... i do not make more counter trends ...

the rmma in panel 2 shows condolidation zones ... never buy/sell if close[0] is in zone ... wma 1 - 360

so i add this in doublemapaint code

RisingPlot.Set(bar 1val2);
                    if (
PaintBar && Close[0] > WMA(Close,360)[0])
BarColor barColorUp;
BarColor barColorNeutral;
//else if(falling)
else if(falling)
FallingPlot.Set(bar 1val2);
                    if (
PaintBar && Close[0] < WMA(Close,360)[0])
BarColor barColorDown;
BarColor barColorNeutral;
sorry can not export ...

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Last edited by wh; July 3rd, 2009 at 04:05 AM.
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  #2 (permalink)
Site Administrator
Manta, Ecuador
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So you are using a WMA(360) moving average, as in 360 bars of length and basically trading it as a long/short signal? If your paint bars would normally be long, but the WMA 360 is not yet long, then you paint yellow and vice versa for shorts?

I did something similar with SuperTrend lately (my own version, called TrendBars2). I mentioned it in the VIP section you maybe saw it.

I think it is a good idea and I like mine this way as well. I am using a different method (discussed in VIP section) but I think the method you use to calculate it is probably not critical, just find something as you have done that keeps you out of the "middle".

Are you scalping for ticks? If yes, then we are alike, so I don't need to be first in line when a trend reverses, I just need the trend to continue a few ticks so I can get my piece. Too many traders try to find the indicator that gives them that early signal, when really being first is not the best in trading.


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  #3 (permalink)
Neubrandenburg, Germany
Experience: Advanced
Platform: R
Trading: Stocks
wh's Avatar
Posts: 538 since Jun 2009
Thanks: 297 given, 501 received


the idea with wma 360 came on a 4 minute chart. 4 * 360 is one day. but on 4 range charts i do not know why, works better. when price reverse i made to many trades.

but we are looking for some pips/points. so new paintbar shows only if long or short niveau == trend and so i do not see the counter trends, which always tempts me ... to lose money ...

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