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Second Entry Indicator (Looking for testers/feedback)


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Second Entry Indicator (Looking for testers/feedback)

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  #1 (permalink)
 TraderJZheng 
New York City, New York
 
Experience: Beginner
Platform: Tradovate, NinjaTrader
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Trading: ES + NQ Futures
 
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Hello, I believe I have coded an indicator that counts second entries correctly (mack style). I'm trying to get some feedback on how it can be improved and what features should be added. Also I wanted to know if my counting logic is off as I'm still relatively new to PAT/second entries. All feedback/critique is welcome!

Everything is open source. I also know there are a lot of talented developers on this forum so I hope to be able to crowdsource this into a great indicator.

(Excuse my commenting/code organization skills, it is my first indicator as well as my first time coding in C#/ninjascript)


Video about Installation/features:


V2.1 Video(Explains how I think counting entries work, FEEDBACK ON THIS IS GREATLY APPRECIATED)


Features:
  • Counting Second Entries
  • Counting Other Entries
  • Future Signal and Risk display
The indicator is highly adjustable so that it can fit for other instruments as well


Parameters:
  • Target: Shows where the future signal will draw the target.
  • Max Stop: will change the risk to turn magenta if risk exceeds max stop.
  • Entry Placement: Useful for other instruments. Will only count as an entry if the price is greater than/less than the previous bar's high/low plus the amount of ticks set here.
  • Stop Placement: Distance from signal bar your stop will be placed.
  • Margin: Distance from bar the indicator is drawn.
  • Reset count on DT/DB: allows for the count to reset whenever a double top or double bottom forms
  • Longs on top/shorts on bottom: Flip placement of entry text



p.s. it's v2.1 because I forgot to post v1 before I fixed some counting errors/logic.

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  #2 (permalink)
 Ssjaznguy 
la puente, California
 
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are the plots expose so we can use it in a strategy?

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  #3 (permalink)
 TraderJZheng 
New York City, New York
 
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Ssjaznguy View Post
are the plots expose so we can use it in a strategy?

As it is now, there are no plots (still have to learn how to incorporate them) but if you want to add them yourself instead of waiting for me, isLongEntry and isShortEntry are set to true whenever a second entry long or short is entered.

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 Ssjaznguy 
la puente, California
 
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ah thanks. I am considering upgrading to elite and have very little C# skills. I was able to code a basic strategy with BE and trailing stop so doing it myself will take 5x longer...but that's fine, Ill use it as a learning opportunity.

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 trendisyourfriend 
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TraderJZheng View Post
Hello, I believe I have coded an indicator.

I can see some minor differences in your count and the one from TDU:


It helps to validate the count when we can see the many segments (zig zag).

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  #6 (permalink)
 trendisyourfriend 
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 trendisyourfriend 
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  #8 (permalink)
 trendisyourfriend 
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As a first project, i want to congratulate you. You did a great job. There are many things to consider and you are almost there. Your count is a bit off for soem of the counts 2,3,4,etc.. Your second entry is mostly perfect at 99% just some minor adjustments you need to do. If you could give the option to plot the zig zag segments it would help.

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  #9 (permalink)
 refine 
Edmonton Alberta Canada
 
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I would like to echo the previous comment. You have done a great job. I would like to see the line plot (zig zag) as well. That would go a long way in helping to visualize the setups.

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  #10 (permalink)
 trendisyourfriend 
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 TraderJZheng 
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trendisyourfriend View Post

This is great feedback thank you! I believe I still have some kinks to work out with outside bars as that seems to be the main issue. I've been told on Mack's forums that TDU doesn't count correctly. Would you say it's accurate? As for the zigzag, I'll see what I can do to add it.

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 trendisyourfriend 
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TraderJZheng View Post
This is great feedback thank you! I believe I still have some kinks to work out with outside bars as that seems to be the main issue. I've been told on Mack's forums that TDU doesn't count correctly. Would you say it's accurate? As for the zigzag, I'll see what I can do to add it.

TDU does handle both Al Brooks and Mack count systems. As far as i can tell, they are both OK. When i find something wrong, i communicate with the developer and he makes the necessary correction. But as of today, i find it great. I only use the zig zag representation though as i find it too confusng when i look at all the signals it can offer like traps, 2EL, 2ES, failed 2nd entry and count number. I prefer Brooks count also as i find it more contrarian by nature while Mack is more trend biased.

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chiyu219
Hong Kong
 
 
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Thank you. this is very helpful!

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 sunshnpeg 
Greenville SC
 
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I also am finding your indicator very helpful in my PAT trading. Probably one of the best indicators I've downloaded in quite awhile. Appreciate your efforts and sharing.

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 trendisyourfriend 
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With tick replay enabled your symbols appear correctly:


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 trendisyourfriend 
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I am not an expert with Ninjascript and maybe someone else with more experience might correct me if i am wrong but what about testing if the current bar close time is < now in which case you would know if it is a historical bar and if it is an engulfing bar or not. If the current bar close time is now then you are dealing with what is occuring right now so the interpretation of the count will be known at the first tick of the next bar. This is just an idea.

Another way to deal with that is to load a secondary data series (range 1 tick) and test when price breaks the prior bar high/low of your main data series according to your rules.

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