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Very simple trend indicator
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Very simple trend indicator

  #1 (permalink)
The Narrow Road
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Very simple trend indicator

Hi Guys,
I'm looking for a very simple Paint Bars study. It is to paint "trending" bars.

Trending Up:
Low of current bar is higher than the low of the previous bar.

Trending Down:
High of current bar is lower than the high of the previous bar.

I don't want to define a trend using any sort of external method like and average or an ATR - simply looking for consecutive "trending" bars.

p

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  #2 (permalink)
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podski View Post
Hi Guys,
I'm looking for a very simple Paint Bars study. It is to paint "trending" bars.

Trending Up:
Low of current bar is higher than the low of the previous bar.

Trending Down:
High of current bar is lower than the high of the previous bar.

I don't want to define a trend using any sort of external method like and average or an ATR - simply looking for consecutive "trending" bars.

p


If you have an inside bar, it is trending up and down at the same time.


(1) But let me suggest a concept that only uses the highs and lows of the bars:

translation up = higher high and higher low
translation down = lower high and lower low
outside bar = higher high and lower low
inside bar = lower high and higher low
stitch up = higher high and equal low
stitch down = equal high and lower low
flat top pennant = equal high and higher low
flat bottom pennant = lower high and equal low
harmonic bar = equal high and equal low

lateral consolidation = extension of inside bars

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(2) Trend change after a breakout

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(3) Trend definition via smoothed Heikin-Ashi bars (smoothing with a 2-pole 10-period Supersmoother)

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  #3 (permalink)
The Narrow Road
Belgium
 
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Fat Tails View Post
If you have an inside bar, it is trending up and down at the same time.


(1) But let me suggest a concept that only uses the highs and lows of the bars:

translation up = higher high and higher low
translation down = lower high and lower low
outside bar = higher high and lower low
inside bar = lower high and higher low
stitch up = higher high and equal low
stitch down = equal high and lower low
flat top pennant = equal high and higher low
flat bottom pennant = lower high and equal low
harmonic bar = equal high and equal low

lateral consolidation = extension of inside bars

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



(2) Trend change after a breakout

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



(3) Trend definition via smoothed Heikin-Ashi bars (smoothing with a 2-pole 10-period Supersmoother)

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Ahhh - wonderful.

My personal preference and requirements at this stage are for the methodology used for the first one. I try to do something similar to this , to sort of decline (durchdeklinieren) the price action as you have done. The method you have is neat, consistent and easy to do as the price action develops.

Wonderful @Fat Tails. Thanks very much.

p

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  #4 (permalink)
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podski View Post
Ahhh - wonderful.

My personal preference and requirements at this stage are for the methodology used for the first one. I try to do something similar to this , to sort of decline (durchdeklinieren) the price action as you have done. The method you have is neat, consistent and easy to do as the price action develops.

Wonderful @Fat Tails. Thanks very much.

p

@podski: I have not invented the stuff, but just created a NinjaTrader version for another trader. There are a few threads dealing with this subject on Traders Laboratory and Elite Trader.


The original thread was created by Spydertrader:

The Price / Volume Relationship - Traders Laboratory - 6320 ... see post # 5


This is a MultiCharts version of the stuff:

Price Action Trainer - Page 4 - Traders Laboratory - 5973


You will find similar concepts in that jack hershey thread:

SCTlearning from scratch - Elite Trader


For my taste the information required to make this approach are two detailed. This can be useful, if you feed them into a neural network and let that operate by exploiting statistics. But as a discretionary trader I prefer aggregate information to protect myself from information overload. Simplicity beats sophistication.

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  #5 (permalink)
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podski View Post
Hi Guys,
I'm looking for a very simple Paint Bars study. It is to paint "trending" bars.

Trending Up:
Low of current bar is higher than the low of the previous bar.

Trending Down:
High of current bar is lower than the high of the previous bar.

I don't want to define a trend using any sort of external method like and average or an ATR - simply looking for consecutive "trending" bars.

p

Hi @podski,

I modified one of @Silvester17`s Volume indicators so that it does what you want.

The VolumeTrendBars indicator displays the volume based on up/down close wherewith one can recognize if itīs a down or up bar.
The price bars can be colored regarding your request, LHīs + HLīs. You can also choose the period for the paint bars calculation (Period 1 equates your request). There is also a option for playing sound files.
If you donīt want the volume bars, just set them to transparent.

Hope this helps.

Ps. The first chart is set to period 1, the second to period 7.

Attached Thumbnails
Very simple trend indicator-volumetrendbars-period-1-.jpg   Very simple trend indicator-volumetrendbars-period-7-.jpg  
Attached Files
Register to download File Type: zip VolumeTrendBars.zip (3.1 KB, 126 views)

Last edited by Abde; March 27th, 2014 at 09:34 AM.
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  #6 (permalink)
The Narrow Road
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@Abde

many many thanks .. that is sort of perfect for what I want. I am trying to trail my trades on the DAX and it is proving to be very difficult. Too tight and you get knocked out of great positions, too lose and you quickly give back 50% or more of your profits on this fast instrument.

I am using 5 min time bars and making good progress - this will help me a lot when it comes to fast decision making.

best regards

p

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  #7 (permalink)
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podski View Post
@Abde

many many thanks .. that is sort of perfect for what I want. I am trying to trail my trades on the DAX and it is proving to be very difficult. Too tight and you get knocked out of great positions, too lose and you quickly give back 50% or more of your profits on this fast instrument.

I am using 5 min time bars and making good progress - this will help me a lot when it comes to fast decision making.

best regards

p

@podski

How true this is with the DAX - Itīs a psychopathic beast LOL...

My experience is that itīs always a very good idea to incorporate volume into the trailing decision. I noticed that the highs/lows of bars where the vol exceeds the prior bars vol, are excellent spots for stop placements and they are also good, for initiating trades.

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  #8 (permalink)
The Narrow Road
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@Abde

This is a nice simple tool. I am going to request a small improvement or two - are you able to do them or should I ask in the Create an Indicator thread ?

1. I will remove the volume bars
2. I would like to have an option to ignore inside bars. This is a little more complex but will work a little like the consolidation box in the Fat Tails illustration.

The following changes will need to be made

- add a classification concept (like in the PriceActionSwing indie) for each bar - UpBar, DownBar, InsideBar, OutsideBar
- the High Low comparison will need to count back but once an OutsideBar is there any subsequent inside bars don't count so the Period will need to be offset by these bars

Thoughts ?

p

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  #9 (permalink)
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podski View Post
@Abde

This is a nice simple tool. I am going to request a small improvement or two - are you able to do them or should I ask in the Create an Indicator thread ?

1. I will remove the volume bars
2. I would like to have an option to ignore inside bars. This is a little more complex but will work a little like the consolidation box in the Fat Tails illustration.

The following changes will need to be made

- add a classification concept (like in the PriceActionSwing indie) for each bar - UpBar, DownBar, InsideBar, OutsideBar
- the High Low comparison will need to count back but once an OutsideBar is there any subsequent inside bars don't count so the Period will need to be offset by these bars

Thoughts ?

p

@podski,

1. Understandable.
2. Not Understandable.

There are no OutsideBars in the consolidation boxes of Fat Tails illustration. Do you want that inside bars didnīt get colored at all?
Can you provide a illustration of what you want? - A picture is worth a thousand words.

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  #10 (permalink)
The Narrow Road
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Abde View Post
@podski,
A picture is worth a thousand words.

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

Edit: Maybe they are not outside bars ... but the bars following them are inside bars. Maybe they are just large up bars ... and large down bars ...

Attached Thumbnails
Very simple trend indicator-vfxrqavgil.png   Very simple trend indicator-hghxxzbryf.png   Very simple trend indicator-zucqunljar.png  

Last edited by podski; April 2nd, 2014 at 08:36 AM. Reason: outside bar definition ... wrong
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