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Very simple trend indicator
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Created: by podski Attachments:14

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Very simple trend indicator

  #11 (permalink)
Elite Member
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podski View Post
The chart should be familiar to you - it's the FDAX from this morning (miserable).


I attach 3 pictures. The two "big" bars this morning were outside bars.

If in a trend - all bars following this bar should have the same color as those outside bars as the price action inside the bars is just a sort of choppy consolidation. Nothing happened.

p

@podski,

Really miserable the FDAX, but the whole last 3 days - Distribution phase.

Not easy to quantify your bars because they are no classical outside bars wit HH + LL than the previous bar. They are more a kind of wide range bars and one would have to quantify them by a tick or period definition. But that gets to sophisticated for my limited skills, sorry for that.

You could additionally apply Fat Tail´s RangeAnalysis indicator to visualize such wide range bars. Have applied it in the second chart and set the wide range bars look back period to 100, to mach the bars that you´ve marked.

Otherwise, just ask in the create an indicator thread if someone is willing to modifie the attached version TrendBars4podski, where the volume bars are removed.

Hope this helps in someway.

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Very simple trend indicator-trendbars4podski.jpg   Very simple trend indicator-widerangebar100.jpg  
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  #12 (permalink)
The Narrow Road
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@Abde - thanks man ... I'll have a crack myself ..

p

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  #13 (permalink)
The Narrow Road
Belgium
 
Futures Experience: Intermediate
Platform: Ninjatrader
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Favorite Futures: FDAX, FDXM ...maybe
 
podski's Avatar
 
Posts: 379 since Sep 2012
Thanks: 443 given, 457 received


@Abde

I had a crack at it myself and it seems to work nicely. I have changed some of the default settings and included the "ignore inside bars" setting. The purpose of this is to keep me in a trend a little longer and not get knocked out by a couple of small downclose candles after a nice run up.

How do I intend to use it?
I try to trade the "progression" arms of a trend - just the upmoves and not sit thru too many pullbacks. This has the advantage of not giving back too many profits but the disadvantage of sometimes cutting your winners.

This indie will help me to stick with a trend a bit longer when I am trailing it.

see what you think.

regards

p

Attached Thumbnails
Very simple trend indicator-kszvrrworl.png  
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  #14 (permalink)
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podski View Post
@Abde
see what you think.
p

Nice work! Looks cool and, as one with the same affliction, I also want a drive. Thanks both.

Travel Well
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  #15 (permalink)
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podski View Post
@Abde

I had a crack at it myself and it seems to work nicely. I have changed some of the default settings and included the "ignore inside bars" setting. The purpose of this is to keep me in a trend a little longer and not get knocked out by a couple of small downclose candles after a nice run up.

How do I intend to use it?
I try to trade the "progression" arms of a trend - just the upmoves and not sit thru too many pullbacks. This has the advantage of not giving back too many profits but the disadvantage of sometimes cutting your winners.

This indie will help me to stick with a trend a bit longer when I am trailing it.

see what you think.

regards

p

@podski,

Very nice tool - Well done!

What are the conditions for the recent significant bar/refBar? I couldn´t figure it out from your code.

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  #16 (permalink)
The Narrow Road
Belgium
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader Brokerage, CQG
Favorite Futures: FDAX, FDXM ...maybe
 
podski's Avatar
 
Posts: 379 since Sep 2012
Thanks: 443 given, 457 received

Hi @Abde,

I've tried to keep it very simple. When this indicator is right - it is very right but when it is wrong it's terrible. It is not meant to be any sort of long term trend indie.

1. In order to identify a "trend" you need two bars
2. Two consecutive bars that have higher highs and higher lows are "trending" up. (opposite for trending down obv)
3. So - let's say you have two bars that are trending and then there is an "inside bar" (the DAX takes a sneaky little break). I am often fooled into thinking "OK move is over - let's get out." Then the pig moves up 196 points.

The little break was not "significant" because it didn't break the trend. It didn't move below the low of the previous bar. Nothing happened. Just a little noise.

4. I use the "Period" setting then to say how many bars to look back to see this "significant" low. This is my reference bar.

In a trailing stop situation - the stop would be below this reference bar ..

I will try to draw some pictures ..



p

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