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Stochastics min/max Prediction within range bar
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Stochastics min/max Prediction within range bar

  #1 (permalink)
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Stochastics min/max Prediction within range bar

I trade price reversals and breakouts using range bars, price patterns and stochastics in Ninjatrader 6.5. I enter based on completed bar values, while of course watching the bar develop, letting me prepare/anticipate my potential entries. For this method , a very useful tool is indicator called 'Rangebar Hi/Low', which plots calculated price bar range while the price bar is developing, so I always see in advance where exactly the current bar will close.

Now, I'd like to use similar indicator for Stochastics (K-line) to see the potential K-line values plotted in the indicator, related to corresponding price range bar's potential hi/lo values. So the idea is that I could anticipate the range bar close value as well as corresponding Stoch K-line value in similar fashion and so be better prepared to decide in advance if I want to enter when the price bar closes. Anybody seen such a 'active bar range' indicator for Stochastics?

Thanks!

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  #3 (permalink)
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hi gain247,

pretty good idea, its like "predicting" the stochastic for the barclose before the bar is closed

But this works because the point the bar will close in RangeBARs is defined + fixed ! (Rangebar Hi/Low)

we had this topic here some time ago, i dont remember how it ended and if it was in combination with stochastics, but try to look arround a bit here on futures.io (formerly BMT) - maybe you find it or others who remember it may point you to this thread.

one problem may be that you always have 2 possibilities where your Bar closes : positive or negative - so you will have to have 2 stochastics maybe - one for the rangeBAR-High and one for the rangeBAR-Low.

basicly the stochastic has to be calculated with grabing the values High + Low from the Rangebar Hi/Low - indicator as input.

i didnt test this yet but this should be doable i think.

-

max-td
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gain247 View Post
I trade price reversals and breakouts using range bars, price patterns and stochastics in Ninjatrader 6.5. I enter based on completed bar values, while of course watching the bar develop, letting me prepare/anticipate my potential entries. For this method , a very useful tool is indicator called 'Rangebar Hi/Low', which plots calculated price bar range while the price bar is developing, so I always see in advance where exactly the current bar will close.

Now, I'd like to use similar indicator for Stochastics (K-line) to see the potential K-line values plotted in the indicator, related to corresponding price range bar's potential hi/lo values. So the idea is that I could anticipate the range bar close value as well as corresponding Stoch K-line value in similar fashion and so be better prepared to decide in advance if I want to enter when the price bar closes. Anybody seen such a 'active bar range' indicator for Stochastics?

Thanks!

Awesome idea! I trade reversals on range bars as well, and always have had to deal with this issue, but never really thought about an indicator to do that. It should work by adding a plot which uses the projected bar close as the input of the indicator formula, rather then the current market price. You could plot the projected high close if the current price of the current bar is above the open, or plot the projected low close, if the current price is below the open.

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gain247 View Post
I trade price reversals and breakouts using range bars, price patterns and stochastics in Ninjatrader 6.5. I enter based on completed bar values, while of course watching the bar develop, letting me prepare/anticipate my potential entries. For this method , a very useful tool is indicator called 'Rangebar Hi/Low', which plots calculated price bar range while the price bar is developing, so I always see in advance where exactly the current bar will close.

Now, I'd like to use similar indicator for Stochastics (K-line) to see the potential K-line values plotted in the indicator, related to corresponding price range bar's potential hi/lo values. So the idea is that I could anticipate the range bar close value as well as corresponding Stoch K-line value in similar fashion and so be better prepared to decide in advance if I want to enter when the price bar closes. Anybody seen such a 'active bar range' indicator for Stochastics?

Thanks!

In Joe Ross' book "Trading the Ross Hook", he did exactly this. He described a simple algorithm to project the next bar's high, low and close, then applied it to first CCI, then to Stochatics. What he attempted to show was 1) using these indicators independently to filter the hook and 2) use the projected bar as part of the function to again filter good/bad trades. He claims some good success with it. I was considering doing this in easy language (I use TradeStation), but have not had time to implement it yet.

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-C

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I requested the exact same thing here... https://futures.io/elite-circle/5497-stochastic-tweak.html . It would be a very useful indicator. Perhaps @FatTails will take a crack at it if you post the request in the "Want your indicator created?" thread.

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Great to see here are many of you also seeing this useful

To clarify regarding Stochastics indicator, I would simply like to see the 'max' and 'min' dots plotted on top of the standard Stochastics indicator, the same way as 'RangeBarHiLo' now shows min/max dots for developing range price bar. And yes, the values for these dots on Stoch (K-line) indicator would be calculated based on these min/max 'dot' values of the current range price bar, so technically this shouldn't be very difficult. I'm hoping maybe someone more technically talented (than me, lol) could take the challenge and come up with this useful indicator

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gain247 View Post
Great to see here are many of you also seeing this useful

To clarify regarding Stochastics indicator. I would simply like to see the 'max' and 'min' dots plotted on top of the standard Stochastics indicator, the same way as 'RangeBarHiLo' now shows min/max dots for developing range price bar. And yes, the values for these dots on Stoch (K-line) indicator would be calculated based on these min/max 'dot' values of the current range price bar, so technically this shouldn't be very difficult. I'm hoping maybe someone more technically talented (than me, lol) could take the challenge and come up with this useful indicator

Here's what I came up with based on what I needed, I trade bar closes based on what the indicator looks like at the close, so I want to know what the indicator will look before the bar closes to put in my stoplimit order before the bar closes. I changed the original NT stoch to plot the projected close, instead of the current market price, using CalculateOnBarClose=false, and plotting the value based on if the current developing bar is up or down. You should be able to change the code to plot it differently if you need. I actually use the RSI, so I just copied the changed code to the Stochastics.

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monpere View Post
Here's what I came up with based on what I needed, I trade bar closes based on what the indicator looks like at the close, so I want to know what the indicator will look before the bar closes to put in my stoplimit order before the bar closes. I changed the original NT stoch to plot the projected close, instead of the current market price, using CalculateOnBarClose=false, and plotting the value based on if the current developing bar is up or down. You should be able to change the code to plot it differently if you need. I actually use the RSI, so I just copied the changed code to the Stochastics.

Thanks monpere, this was quick! However, when I try to compile this file on NT 6.5, it generates error "The type or namespace name 'GridCategory' could not be found". Is this some kind of dll-file I would need as well to make this code work?

Thanks!

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gain247 View Post
Thanks monpere, this was quick! However, when I try to compile this file on NT 6.5, it generates error "The type or namespace name 'GridCategory' could not be found". Is this some kind of dll-file I would need as well to make this code work?

Thanks!


I started from the NT7 Stochastics. I have not tried it in 6.5, but you could probably pull my code out and stick it in the default 6.5 stochahstics indicator.

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