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Is there a Programmer that can create this Congestion Indicator
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Created: by nillz123 Attachments:2

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Is there a Programmer that can create this Congestion Indicator

  #1 (permalink)
Elite Member
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Is there a Programmer that can create this Congestion Indicator

I work with a few programmers and I am not sure they can create this indicator. Two of them are not exactly traders, they just understand how to program, so I would rather maybe someone who actually trades.

Anyways there is a thread someone posted with this PDF:Is there a Programmer that can create this Congestion Indicator-congestioncount.pdf

It's called the Congestion Count. I was wondering if someone here can program it into an actual indicator as specified in the pdf attached.

Many Thanks.

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  #2 (permalink)
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  #3 (permalink)
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nillz123 View Post
I work with a few programmers and I am not sure they can create this indicator. Two of them are not exactly traders, they just understand how to program, so I would rather maybe someone who actually trades.

Anyways there is a thread someone posted with this PDF:Attachment 19584

It's called the Congestion Count. I was wondering if someone here can program it into an actual indicator as specified in the pdf attached.

Many Thanks.

Took a few minutes to code. I think there is a problem with the definition. The indicator lags by one bar. If you have a large bar, it still will give you a high congestion count, although the break out has already occured. It is only the next bar, after the breakout bar, which will show a lower congestion count, as it has only one overlapping bar.

I think that there are better chop indicators, but anyway, here it is.

Attached Files
Register to download File Type: zip CongestionCount.zip (3.7 KB, 132 views)

Last edited by Fat Tails; September 2nd, 2010 at 02:40 PM. Reason: Indicator updated
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  #4 (permalink)
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Thanks!

Thanks. I will test it out.

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Fat Tails View Post
Took a few minutes to code. I think there is a problem with the definition. The indicator lags by one bar. If you have a large bar, it still will give you a high congestion count, although the break out has already occured. It is only the next bar, after the breakout bar, which will show a lower congestion count, as it has only one overlapping bar.

I think that there are better chop indicators, but anyway, here it is.

I tried to import it but I keep getting an error message: "NinjaTrader can not decompress NinjaScript Archive File: Version required to extract this entry is not supported. 45" Maybe it can be resent?

Also, What better chop indicators are there? I tried one from here names JEMA, but it lags somewhat (more than just one bar); It seems to miss a lot of opportunities or entries. I also tried a "VHF" one. But I didn't like it. It didn't seem too accurate for my style.

Maybe you could share a congestion indicator with us?

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  #6 (permalink)
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yeah guys - we always need infos of your Ninja-Versions, from the askers & from posters / coders .

because some are on NT 6,5 and others are on NT 7, the indicators should have this infos in their file-name.
thats what would be the best / clearest to avoid to mix it up.

max-td
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nillz123 View Post
I tried to import it but I keep getting an error message: "NinjaTrader can not decompress NinjaScript Archive File: Version required to extract this entry is not supported. 45" Maybe it can be resent?

Also, What better chop indicators are there? I tried one from here names JEMA, but it lags somewhat (more than just one bar); It seems to miss a lot of opportunities or entries. I also tried a "VHF" one. But I didn't like it. It didn't seem too accurate for my style.

Maybe you could share a congestion indicator with us?

Yep, this indicator was for NT 7.0, and even worse, I might have used a custom-built version.


By the way, there is a whole thread with a choice selection of chop indicators in the elite section of this forum, just read and enjoy. I am not copying it here.


https://futures.io/elite-circle/770-detecting-chop.html

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Better congestion indicators?

what are some indicators you think are better at identifying congestion?


Fat Tails View Post
Took a few minutes to code. I think there is a problem with the definition. The indicator lags by one bar. If you have a large bar, it still will give you a high congestion count, although the break out has already occured. It is only the next bar, after the breakout bar, which will show a lower congestion count, as it has only one overlapping bar.

I think that there are better chop indicators, but anyway, here it is.


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  #9 (permalink)
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heyligerb View Post
what are some indicators you think are better at identifying congestion?

It depends on the time frame.

A well known indicator is the Bollinger Band Squeeze. It compares the width of the Bollinger Bands to the width of a Keltner Channel. When the Bollinger Bands are inside the Keltner Channel, this means that non-directional volatility (as measured via the ATR) is high compared to directional volatility (as measured via the StdDev).

You can also use the ADX by Welles Wilder or the Fractal Efficiency by Perry Kaufman.

For daily bars a congestion can be identified, if the close of the day is midrange. This is called a balancing day and translates into a narrow pivot range. Several balancing days increase the probability for a breakout.

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Danke!


Danke!


Fat Tails View Post
It depends on the time frame.

A well known indicator is the Bollinger Band Squeeze. It compares the width of the Bollinger Bands to the width of a Keltner Channel. When the Bollinger Bands are inside the Keltner Channel, this means that non-directional volatility (as measured via the ATR) is high compared to directional volatility (as measured via the StdDev).

You can also use the ADX by Welles Wilder or the Fractal Efficiency by Perry Kaufman.

For daily bars a congestion can be identified, if the close of the day is midrange. This is called a balancing day and translates into a narrow pivot range. Several balancing days increase the probability for a breakout.


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