ThrustBars Indicator - futures io
futures io futures trading



ThrustBars Indicator


Discussion in NinjaTrader

Updated
      Top Posters
    1. looks_one Fat Tails with 3 posts (16 thanks)
    2. looks_two aligator with 2 posts (2 thanks)
    3. looks_3 Quick Summary with 1 posts (0 thanks)
    4. looks_4 kronie with 1 posts (1 thanks)
    1. trending_up 6,382 views
    2. thumb_up 19 thanks given
    3. group 7 followers
    1. forum 6 posts
    2. attach_file 2 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

ThrustBars Indicator

(login for full post details)
  #1 (permalink)
Las Vegas, NV
 
Experience: Advanced
Platform: Abacus, Slide Rule, HP-65, Metastock, TOS, NT
Trading: Futures
 
aligator's Avatar
 
Posts: 3,424 since Aug 2010
Thanks: 1,057 given, 5,841 received

Any explanation of the ThrustBars indicator and how to use it on this Forum? Is that the same as TrendTrustBar indicator?

Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to aligator for this post:

Can you help answer these questions
from other members on futures io?
Webinar: Finding your own way in trading w/Adam Grimes
The Elite Circle
MACD line not plotting after change of plot order
NinjaTrader
OFA (Order Flow Analytics) Licence
NinjaTrader
ZigZag with Depth and Backstep
EasyLanguage Programming
Automatic pattern research with NT
Elite Algorithmic NinjaTrader Trading
 
 
(login for full post details)
  #3 (permalink)
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,728 received


Thrust Bars

I have taken the definition from Jack Schwager's book on Technical Analysis. A thrust bar is a bar that closes above the prior bars highs or below prior bars low. This indicates a shift in the perceived value for on ongoing auction.

The idea is to divide price action into trending and range bound areas. The range bound areas reflect the testing of the boundaries of the current value area. After some testing price breaks out and establishes current market price outside the old value area, which is the beginning of a trend.

The thrust bars are a simple way of showing these movements. The thrust bars are shown in the first chart, white bars are thrust bars up, yellow bars are thrust bars down.


Auction Bars

Currently I do not use these thrust bars without plotting the ranges that they produce. Also I have eliminated all thrust bars which close within the range created by the last prior auction bar.

The question was how to trade these bars. There are two ways of trading them

- as breakouts (first auction bar after a longer range bound period)
- as S/R lines (boundaries of the ranges)

The auction bars are shown in the second chart (lime and red, white bars are dojis and yellow bars are potential reversal bars)

Attached Thumbnails
Click image for larger version

Name:	CL 05-11 (60 Min) 18_03_2011 thrust.jpg
Views:	826
Size:	98.4 KB
ID:	34251   Click image for larger version

Name:	CL 05-11 (60 Min) 18_03_2011 auction.jpg
Views:	825
Size:	107.9 KB
ID:	34252  
Reply With Quote
The following 12 users say Thank You to Fat Tails for this post:
 
(login for full post details)
  #4 (permalink)
Las Vegas, NV
 
Experience: Advanced
Platform: Abacus, Slide Rule, HP-65, Metastock, TOS, NT
Trading: Futures
 
aligator's Avatar
 
Posts: 3,424 since Aug 2010
Thanks: 1,057 given, 5,841 received

Thanks a bunch Fat Tails. In your second chart, is the auction bar at (2) also a thrust bar since it breaks out of the range? Also, I could not find the Alpha indicator on this forum, is that public or available somewhere?

Have a wonderful day.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to aligator for this post:
 
(login for full post details)
  #5 (permalink)
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,728 received


aligator View Post
Thanks a bunch Fat Tails. In your second chart, is the auction bar at (2) also a thrust bar since it breaks out of the range? Also, I could not find the Alpha indicator on this forum, is that public or available somewhere?

Have a wonderful day.

All auction bars are by definition thrust bars as well, as auction bars are thrust bars that must close outside the ranges plotted on the chart.

I have not yet published the indicator on the forum, as I am still playing around with the exact definitions.

Reply With Quote
The following 4 users say Thank You to Fat Tails for this post:
 
(login for full post details)
  #6 (permalink)
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
kronie's Avatar
 
Posts: 798 since Oct 2009

https://futures.io/local_links_search.php?action=show&literal=1&search=thrust&desc=1&keys=1

Reply With Quote
 
(login for full post details)
  #7 (permalink)
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,728 received



Yes, that is the ThrustBar Indicator. The Auction Bars are not available here.

Reply With Quote


futures io Trading Community Platforms and Indicators NinjaTrader > ThrustBars Indicator


Last Updated on September 16, 2011


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Battlestations! Show us your trading desk - $1,500 in prizes!

March
 

Importance of Finding Your Own Way w/Adam Grimes

Elite only
 

Journal Challenge w/Jigsaw

April
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts