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Rotation / Swing Indicator Similar to FT71?


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Rotation / Swing Indicator Similar to FT71?

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  #1 (permalink)
boston
 
Experience: Intermediate
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Posts: 111 since Mar 2013
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Hello,

I remember watching FT71 webinar and seeing an indicator on his non Ninja platform in which there is a horizontal line and a distribution of historical rotations (swing size in ticks) - so one can statistically understand visually what are "normal" rotations and what are extremes /deviations.

I know the swingPro indicator shows the last swing size average rotations - but not statistical distributions around some baseline.

So was wondering if anyone coded something similar fr NT?

Cheers,
Steve

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  #2 (permalink)
Sydney, NSW, Australia
 
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amoeba's Avatar
 
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Here is something I made from a few years ago for NT7, it may require some extra love.


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Register to download File Type: cs amoebaRotations.cs (16.1 KB, 156 views)
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  #3 (permalink)
boston
 
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amoeba View Post
Here is something I made from a few years ago for NT7, it may require some extra love.


Much appreciated - thank you

Steve

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  #4 (permalink)
boston
 
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amoeba View Post
Here is something I made from a few years ago for NT7, it may require some extra love.


Hi Amoeba,

I installed the indicator using it on range charts - it does indeed seem as if the numbers do not correspond to the tick swing distribution in CL - unless I'm missing something?

Steve

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  #5 (permalink)
Sydney, NSW, Australia
 
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ziggy123 View Post
Hi Amoeba,

I installed the indicator using it on range charts - it does indeed seem as if the numbers do not correspond to the tick swing distribution in CL - unless I'm missing something?

Steve

Hi Steve,

I'm not at my pc at the moment so will have to check in a little while, what settings did you use with the indicator? And also what was the range chart bar size you used? I will test it out.

With the settings, RotationSize is in ticks (minimum movement before new swing) so maybe something like 5+ for CL? And the DistributionDays is the number of previous session days to include in the distribution calc for 1SD & 2nd SD. Probably 20+ is good, but can be 1000 if you want all past days.

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  #6 (permalink)
boston
 
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amoeba View Post
Hi Steve,

I'm not at my pc at the moment so will have to check in a little while, what settings did you use with the indicator? And also what was the range chart bar size you used? I will test it out.

With the settings, RotationSize is in ticks (minimum movement before new swing) so maybe something like 5+ for CL? And the DistributionDays is the number of previous session days to include in the distribution calc for 1SD & 2nd SD. Probably 20+ is good, but can be 1000 if you want all past days.

Hi Amoeba,

I was actually looking at a Renko type chart and not range (My bad) - however - I switched to 1 Minuet chart - and the distribution does not make sense.

I'm assuming that I'm seeing the number of rotations (Swings) distributions and the distributions of the LENGTH of swings? It's the LENGTH distribution which Im interested in.



See the image - what does 3 mean - 30 Ticks?

Steve

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  #7 (permalink)
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ziggy123 View Post
Hi Amoeba,

I was actually looking at a Renko type chart and not range (My bad) - however - I switched to 1 Minuet chart - and the distribution does not make sense.

I'm assuming that I'm seeing the number of rotations (Swings) distributions and the distributions of the LENGTH of swings? It's the LENGTH distribution which Im interested in.



See the image - what does 3 mean - 30 Ticks?

Steve


The distribution is counting rotations at each size (length of rotation) before reversing a minimum amount as specified by the rotationsize value, at the moment it looks like this is 1 tick on your indicator, try making it 5.

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  #8 (permalink)
boston
 
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amoeba View Post
The distribution is counting rotations at each size (length of rotation) before reversing a minimum amount as specified by the rotationsize value, at the moment it looks like this is 1 tick on your indicator, try making it 5.

ok - i think I see now that the "whole numbers" (ie:3 on the chart should be multiplied by x10 to represent the actual ticks)

So the BLUE lines are the standard deviation - and if I change the setting of rotation to 5 - it means fractal looking at two bars forward and backward to find a "swing" point and then in this specific scenario (attached image above) 30 cents (3) is still within the standard deviation - but there is no reference to actual FREQUENCY NUMBER (You have to count the vertical similar bars) - or I can use the SwinGPro indicator to see number of swing count average, length etc.

By the way - this is the FT71 indicator :




Thanks again for the indicator - I like it!

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  #9 (permalink)
Sydney, NSW, Australia
 
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amoeba's Avatar
 
Posts: 201 since Jan 2014
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Sorry for the late response, there are a couple of differences from FT71's study;

I use same calculation as ZigZag indicator for rotations, both should be similar, but main difference is in FT71's 1min fractal study has a minimum number of bars between fractals, where mine will calculate at every bar. This can cause issues if you are trying to calculate rotations that are smaller than a single bar size (like a 5 tick rotation on CL via 1min bars would be every bar). Best way to overcome this is either use a high resolution tick based bar (like a renko) or a higher rotation value on minute bars.

Also in FT's study, up and down rotations are added to the same bin, I calculate them separately and apply 1st & 2nd SD lines to each separately.

I can see in Ft's study it is using 8 tick minimum rotations & calculating on a 20 session distribution, so to get a similar result try;

DistributionDays: 20
RotationSize: 8

Also make sure you are using a session template only for the rotations you want to calculate in the distribution and have a minimum of 20 days historical data loaded.

Should get something like this;


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  #10 (permalink)
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How do you use this information in your trading if I may ask?

Wilson

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