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Programing indicator, close line if it has been touched
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Created: by matevisky Attachments:5

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Programing indicator, close line if it has been touched

  #11 (permalink)
Mate
Budapest, Hungary
 
Futures Experience: Intermediate
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Fat Tails View Post
Not sure whether a naked high or low from May is observed by many traders. Maybe the index close is more important here than the futures, as it is not affected by rollover gaps.

The indicator uses RTH data only - although it is added to an ETH chart. You will note that if a naked high or low is broken during the night session, is is still considered as a naked high and the indicator continues to plot that high until it is taken out during the regular session. In case that price gaps up above a naked high without a retest during the following regular session, the naked high is shown as support and not as resistance (color change from green to red).

Prior day's close and open (the pair that forms a gap) is displayed until taken out on one of the following days. The indicator even displays them, if the gap has been immediately closed during the regular session.

Thank you. If you could attach the code, that would be great, if not that is fine as well. I have been started coded by my own. Not because I am a better coder than you, but I believe it is a good pratice to get it done by myself. I have some custom rules, in my head, what is not good for anyone else, but for me makes a lots of sense. So your code could be awsome to learn...

One more thing about the RTH, and ETH. There is no easy way to get ETH premarket lows, and highs right? I mean if I am using RTH session template, there is no way to get the Globex Low, and High? It would be very helpful to have it, and I dont know any easyway to get it... Do you have any idea to do this?

Máté
Full time traderLive journal here
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  #12 (permalink)
Elite Member
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matevisky View Post
Thank you. If you could attach the code, that would be great, if not that is fine as well. I have been started coded by my own. Not because I am a better coder than you, but I believe it is a good pratice to get it done by myself. I have some custom rules, in my head, what is not good for anyone else, but for me makes a lots of sense. So your code could be awsome to learn...

One more thing about the RTH, and ETH. There is no easy way to get ETH premarket lows, and highs right? I mean if I am using RTH session template, there is no way to get the Globex Low, and High? It would be very helpful to have it, and I dont know any easyway to get it... Do you have any idea to do this?

To catch the pre-session high and low, you need the data of that presession. If you exclude it from your chart via a RTH template, then you will not have the data. Therefore you need to use an ETH session template that covers the entire trading day.

To separate pre-session from the regular session, there are two possible approaches.

(1) you use a standard ETH template and enter a specific time of the day that reflects the start of the regular session, then use that time to cut off the high and low calculations
(2) alternatively you can use an ETH session template that comes with 3 sub-sessions (Globex session, regular session, evening session) and calculate high & low for each subsession

I have always used the second approach and saved those templates under instrument settings. This allows me to toggle between instruments without changing indicator settings, as each instrument will use its own session template and the Globex session will adapt itself as needed.

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  #13 (permalink)
Mate
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Fat Tails View Post
(2) alternatively you can use an ETH session template that comes with 3 sub-sessions (Globex session, regular session, evening session) and calculate high & low for each subsession

I have always used the second approach and saved those templates under instrument settings. This allows me to toggle between instruments without changing indicator settings, as each instrument will use its own session template and the Globex session will adapt itself as needed.

Yip, it is pretty clear, you are using method (2), I have checked a lots of indicator from you. The only headache for me here, to hide the globex data. Is there any way to use the 3 session, but hide the bars, and the data from the globex session? Or there is no easy way to do that, and simply, just skip the logic, to terminate the bar, if it is a globex session?

Thank you!

Anyway, I have attached my first code. It is not a big deal, and I not a big programmer, but it is a start, with your help guys, so thank you!
(it is fully beta, without any customization option.)

Máté
Full time traderLive journal here
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Register to download File Type: zip merBasicV1.zip (2.9 KB, 11 views)
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  #14 (permalink)
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matevisky View Post
Yip, it is pretty clear, you are using method (2), I have checked a lots of indicator from you. The only headache for me here, to hide the globex data. Is there any way to use the 3 session, but hide the bars, and the data from the globex session? Or there is no easy way to do that, and simply, just skip the logic, to terminate the bar, if it is a globex session?

Thank you!

Anyway, I have attached my first code. It is not a big deal, and I not a big programmer, but it is a start, with your help guys, so thank you!
(it is fully beta, without any customization option.)

If you hide the Globex session, you cannot access its data, and you will not be able to calculate Globex high and low.

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  #15 (permalink)
Mate
Budapest, Hungary
 
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Next version...

Here is my next version of the indicator. It is useable only on 1M chart, with RTH only session to make sense.

There is a lots of lines (but there is no fib ), which ofc could be messy, if you dont know what you are looking for. For me it makes a lots of sense to take trades. I made a screenshot, just to better understanding
It is using WideRangeBar concept, and important levels: local highs lows, closes...

Once again It is never an entry signal, only a place to consider to take the trade...

Thank you for helping me @Fat Tails, @cory

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I am going to forward test this indicator, in my trades and I will finetune, so if you interested in, just hope in to my journal

Máté
Full time traderLive journal here
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Register to download File Type: zip merBasicV1.zip (3.1 KB, 12 views)
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  #16 (permalink)
Market Wizard
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matevisky View Post
... Is there any way to use the 3 session, but hide the bars, and the data from the globex session? Or there is no easy way to do that, and simply, just skip the logic, to terminate the bar, if it is a globex session?

Thank you!

...

if you don't care to see that session just set BackColorAll = Black

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  #17 (permalink)
Mate
Budapest, Hungary
 
Futures Experience: Intermediate
Platform: Ninjatrader
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Posts: 469 since May 2013
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cory View Post
if you don't care to see that session just set BackColorAll = Black

Not good have some other indi, which will not looks good.

Anyhow, I will write a code for chart to chart integration

Máté
Full time traderLive journal here
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