A moving average that is easy to review on an end of day chart - Platforms and Indicators | futures io social day trading
futures io futures trading


A moving average that is easy to review on an end of day chart
Updated: Views / Replies:2,221 / 20
Created: by podski Attachments:6

Welcome to futures io.

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

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

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

Reply
 6  
 
Thread Tools Search this Thread
 

A moving average that is easy to review on an end of day chart

  #11 (permalink)
Elite Member
Lubbock TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Stage 5 Trading
Favorite Futures: CL
 
MWinfrey's Avatar
 
Posts: 1,879 since Jul 2009
Thanks: 1,449 given, 3,306 received


podski View Post
@MWinfrey
Thanks for the input.

On the picture (attached again for ease of use) the little white + that I have at the open of the bar appears to be right on the moving average. However - when the bar opened .. it wasn't like this it was well below the MA line.

I understand the value of the price at closing and there is some value in having the COBC=False (so that I can see the development of the line) - it is just that when I look back at a chart that has had a big trend move I see lots of entries that looked good value (i.e. within my moving averages) but in reality at the open of those bars they were outside the MA envelope.

podski

I think you will need to adjust the way you are viewing your setup. As you know, with COBC=false, values of all moving averages will adjust as the bar forms. I base all my decisions on bar close values so I can do just as you suggest which is to look at the chart at the end of day and see the same thing on historical bars as I did in real time.

If I understand what you're wanting, it sounds like you want the open value of the moving average at bar close. Try this and see if it helps. I assume you are using NinjaTrader. If so, add another moving average with the same settings as the one you are using except change the Displacement value from 0 to 1. Be sure you select a different color so you can distinguish between the 2. Displacing the moving average by 1 bar may be what you are looking for.

Reply With Quote
The following user says Thank You to MWinfrey for this post:
 
  #12 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received


podski View Post
Or are you saying that an SMA (in this case) takes more reference points if COBC=True. I don't think so .. I think that during the bar it will of course take each tick .. but at the close it just takes the last tick and that's it.

When COBC = true, the indicator will not paint a value for the current bar on the chart until that bar closes. The indicator will be a bar behind, showing only the last completed bar. This is fine for what you want.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #13 (permalink)
The Narrow Road
Belgium
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader Brokerage, CQG
Favorite Futures: FDAX, FDXM ...maybe
 
podski's Avatar
 
Posts: 379 since Sep 2012
Thanks: 443 given, 457 received


@Big Mike, @MWinfrey

Thanks both - I think I've got it !!

regard

podski

Reply With Quote
 
  #14 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary

Answer
This post has been selected as an answer to the original posters question Answer

@podski: The question you asked is not simple, many users of modern charting programs do not understand it.

The grandfathers of Technical Analysis used charts that were printed, once the session closed. The values shown on those charts always referred to a complete (daily) session.

With charting programs like NinjaTrader you have the option to display the indicator value for the current unstable period, while it is not yet complete.

COBC = true: For the current unstable period no value will be displayed. Right now it is Wednesday morning 10:40 AM EST. If you have a 3-period SMA, the last value will be displayed for yesterday. It will be calculated from the 3 closes from Friday, Monday and Tuesday.

COBC = false: For the current unstable period a preliminary value will be displayed. This value is calculated from the Monday and Tuesday close and the current price at 10:40 AM EST.

Using indicators with COBC = false setting can be entirely misleading. Imagine that you want to calculate the ATR(3). With COBC = false, it is calculated from Monday's true range, Tuesday's true range and the value Zero at the open of Wednesday's session. This means that it is completely distorted, as it will systematically show a value which is by far too small during the morning session.


Why not use the displacement feature?

If you want to judge the open of the current bar against yesterday's final value of the SMA, you can simply displace your moving average by 1 bar. The chart will now show yesterday's indicator value aligned to today's open, and you can visually compare it.

You are not the first to ask this question or to use moving averages in that way. There are three well-known examples.

PLDots: PLDots are calculated as a 3-period SMA calculated from the typical price, which is shifted by 1 period.

MomDots: MomDots are calculated as a 3-period SMA calculated from the typical price, which is shifted by 2 periods.

3X3: 3X3 is a 3-period SMA calculated from the close, which is shifted by 3 periods (see book of Joe DiNapoli)


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Attached Files
Register to download File Type: zip PLDots.zip (3.9 KB, 28 views)
Register to download File Type: zip MomDots.zip (3.9 KB, 26 views)
Reply With Quote
The following 8 users say Thank You to Fat Tails for this post:
 
  #15 (permalink)
The Narrow Road
Belgium
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader Brokerage, CQG
Favorite Futures: FDAX, FDXM ...maybe
 
podski's Avatar
 
Posts: 379 since Sep 2012
Thanks: 443 given, 457 received

@Fat Tails,

That's a bingo !

This is precisely what I mean. This gives me a static snapshot of a moving average at the open that remains static during and after the bar closes.

In many ways it doesn't matter what it represents - only that it is consistent so that my eye and my trigger finger get used to it.

I was working on doing what may one day become podskidots ...

Parameters:
SMA(4)
COBC=False
InputSeries=Open

Custom
Dot
3

They plot closely to the (very cutely named) Mom dots ...

The idea is that when the OPEN (i.e. crunch time) is very close to this SMA then we are close to some sort of inflection point or value for money / high risk reward area.


Thanks all - got it .. its been bugging me for ages !!

podski


Last edited by podski; February 6th, 2013 at 04:30 PM.
Reply With Quote
 
  #16 (permalink)
The Narrow Road
Belgium
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader Brokerage, CQG
Favorite Futures: FDAX, FDXM ...maybe
 
podski's Avatar
 
Posts: 379 since Sep 2012
Thanks: 443 given, 457 received

Hello @Fat Tails,

We are close .. very close.

I've been trying to get my eyes in tune with this all day but its not quite there. It is an offset related issue but not forward, backward.

I remember your discussion of the MomDots and other fat blokes ... from the Heikin Ashi thread.

In fact what I am looking for is a little similar to what you have done with some modified bollinger bands. The business case is the same in the sense that the value I am looking for is running away from me.

Now - I may be able to get my eye in - but what I am thinking about is the following. It's a bit of a mongrel.

anaPodski Dot:

SMA (or other)
4 (selectable)
COBC=False (i.e. I want the plot visible at the bar open)
Input Series="Close" from the current period -1 (or selectable offset)

Do you follow ?

podski

Reply With Quote
 
  #17 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary


podski View Post
Hello @Fat Tails,

We are close .. very close.

I've been trying to get my eyes in tune with this all day but its not quite there. It is an offset related issue but not forward, backward.

I remember your discussion of the MomDots and other fat blokes ... from the Heikin Ashi thread.

In fact what I am looking for is a little similar to what you have done with some modified bollinger bands. The business case is the same in the sense that the value I am looking for is running away from me.

Now - I may be able to get my eye in - but what I am thinking about is the following. It's a bit of a mongrel.

anaPodski Dot:

SMA (or other)
4 (selectable)
COBC=False (i.e. I want the plot visible at the bar open)
Input Series="Close" from the current period -1 (or selectable offset)

Do you follow ?

podski

@podski: Just add the SMA(4), set it to COBC = false and Displacement = 1. That should do.

Reply With Quote
 
  #18 (permalink)
The Narrow Road
Belgium
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader Brokerage, CQG
Favorite Futures: FDAX, FDXM ...maybe
 
podski's Avatar
 
Posts: 379 since Sep 2012
Thanks: 443 given, 457 received

@Fat Tails

Not quite ...

The displacement concept is correct - but I don't get the static feature of the Mom Dots ...

Is there a Calculate only on Bar Open Option (and not on bar update)

SMA - based on current bar -1 closing price (4), plotted as a static dot in current bar - giving me that snapshot of what the SMA looked like at crunch time.

podski

Reply With Quote
 
  #19 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary


podski View Post
@Fat Tails

Not quite ...

The displacement concept is correct - but I don't get the static feature of the Mom Dots ...

Is there a Calculate only on Bar Open Option (and not on bar update)

SMA - based on current bar -1 closing price (4), plotted as a static dot in current bar - giving me that snapshot of what the SMA looked like at crunch time.

podski

@podski: Sorry this was my fault. Just use the indicator in COBC = true with Displacement = 1. It should now plot the value calculated from the prior close for the current candle and not plot the unstable value for the next bar. If you select the plot style "Dot", you should get something similar as the MomDots.

Reply With Quote
The following user says Thank You to Fat Tails for this post:
 
  #20 (permalink)
The Narrow Road
Belgium
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader Brokerage, CQG
Favorite Futures: FDAX, FDXM ...maybe
 
podski's Avatar
 
Posts: 379 since Sep 2012
Thanks: 443 given, 457 received


If anyone in Western Europe is hearing a strange sound at the moment .. it's just me making huge sighs of relief and releasing a bit of tension.

Issue totally solved.

Displacement ...indeed.

many thanks !!!

podski

Reply With Quote

Reply



futures io > > > A moving average that is easy to review on an end of day chart

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Best Moving Average sharmas Elite Automated Trading 62 April 9th, 2012 07:44 PM
Moving Average Kush NinjaTrader Programming 5 November 6th, 2011 01:49 PM
Moving average Help yiman NinjaTrader Programming 4 July 29th, 2011 09:03 AM
Moving Average of RSI Blz17 NinjaTrader Programming 6 February 12th, 2011 02:52 PM
New Moving Average arnaudlx The Elite Circle 10 January 28th, 2011 06:15 AM


All times are GMT -4. The time now is 03:10 AM.

Copyright © 2017 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
Page generated 2017-12-13 in 0.16 seconds with 40 queries on phoenix via your IP 54.226.132.197