I'm trying to get 5 iteration levels out of the laguerre oscillator, see attached example (below left). So far, all I can get are 4 iteration levels when set at less than .0001 as with the other attached example (below right).
I've had some luck nesting it within itself or a StochRSI but the results are not clean. I'm guessing perhaps there's a special code that does the trick?
It's the CMO (Chande Momentum) oscillator with a setting of 5. It's a trend following oscillator that I believe comes free with Ninjatrader. You'll need to add a "Constant Lines" indicator set at 95 (over bought), 60 (sell line), -60 (buy line) and -95 (over sold). I've added a second CMO set at 20. Strategy so far is to go long above zero line and short below.
I want to know what were you using in the first post, this oscillator seems to be being used by nexgen, can you post that indicator. I am on ninja 7. I have tried to replicate this with cmo in ninja but it does not match nexgen. Thanks
Originally experimented with Laguerre indicator. I've since been using and referencing the CMO. My criteria is to find a setting where the CMO moves from an extreme (100 or -100) to the zero line in one bar. A setting of 10 seems to work best when using Rjays RenkoSpectrum bars with a setting of 5:1, 10:2 etc. Thus making this an 80% reliable reversal bar especially on a HTF. You can do the same thing using laguerre, double stochastic and/or StochRsi.
BTW, this occurs on the aforementioned Renko bars. I've not experimented with this on any other bar type.
So it was leaguer oscillator you used in the first post? for ninjatrader. I understand your concept of ob and os conditions and reversals. I wanted to know the name of the indicator you used. Thanks
I was wondering if you can post a zip file for the indicator on the right? I tried to look for it and also tried to replicate it using CMO but it does not look the same as your chart on the right.
