hi mike my name is Rey I registered on your website a few weeks ago but I never took the chance to explore around.
I am not a programmer or developer, I am just a trader and still learning and I have watched a couple of tutorials and videos about from your YouTube channel. So I wanted to ask you if there is a possibility to combine the donchian channel indicator with the MACD indicator to create a bias indicator that you can actually see the indicator on the chart?
I have tried several different ways but have always failed in producing results.
I built a strategy on Ninja Trader Strategy Builder and tried to convert it to an indicator but it failed.
I really appreciate it if you could give me an answer if it would be possible, and some tips to help.
Can you help answer these questions from other members on futures io?
@Reyesca, in order to make it easier for someone to help you, you may have to specify more clearly what you want the new indicator to show and how it should look on the chart. How do you want to combine the two indicators? What would be the signal it would provide? How would this be helpful? Also, what have you tried so far.
The more info, the better.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
The following user says Thank You to bobwest for this post:
Hey Bobwest, just wanted to try again and see if I could get some help. I would like the indicator to show the signal of the price going long, short or flat (as you can see in the picture highlighted) the blocks of color are trying to indicate versus what the indicator shows. This indicator is what I have done so far, and you can see that it is not aligned with the signal on the MACD depicted on the bottom. I have also included with the picture the script in a zip file. Again, I'm not a professional programmer but this is what I've done so far. I really appreciate if you could help, please let me know if this idea is possible.
The standard NinjaTrader Donchian Channel will automatically use High and Low price data series as that is how it is programmed. If you tried to use anything else as an input to the Donchian channel indicator, it would completely ignore and produce the channel based on the price series High and low only. To work around this limitation I have attached a Donchian Channel indicator called DonchianChannelInput that can be added to your system. With this indicator you can (in the User interface panel) change the 'input" from the price series to anything else or specifically for you the MACD indicator. By default it will, like the original, use the price series however if you change the input series to something else, the indicator will detect and use that input. This will allow the Donchian Channel to draw using the MACD values. Note that to display this properly, you will first want to add the MACD to the chart then add the DochianChannelInput with the same MACD settings as the input AND select the same panel as the MACD on the chart (otherwise it will put it in the price panel and scrunch up the display.
In addition the DonchianChannelInput indicator itself, I have shown what it can look like on a chart (when using colors and dash styles to improve the display) along with the settings of the Donchian channel input with the MACD as the input series.
DonchianChannelInput example
"Money is better than poverty, if only for financial reasons." - Woody Allen
The following user says Thank You to Tasker_182 for this post:
Hi!
Thanks for the indicator!
How do you use it? I just nested to the Macd indicator. Entries when Macd=Donchian bands and exit when separate from then. Backtest from 1st. of March ETH+RTH except some hours in the afternoon.
