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Any indicators to help me stay in the trade?
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Any indicators to help me stay in the trade?

  #11 (permalink)
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trs3042's Avatar
 
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sandptrader View Post
@ TheWizard....Could you post the Ergodic Indicator for Ninjatrader?
I am also interested in trying this one.
Thanks in Advance.

@sandptrader @TheWizard

From Wizards Holy Grail thread, here it is. (you put a space between the @ sign and The Wizard), he might not see your request.

Ergodic.zip

Rick

"If you're going to panic during a trade............. panic early."

Last edited by trs3042; November 19th, 2013 at 09:56 AM.
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  #12 (permalink)
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sandptrader View Post
@ TheWizard....Could you post the Ergodic Indicator for Ninjatrader?
I am also interested in trying this one.
Thanks in Advance.

Here's my version (WizErgodic). It defaults to 5,30,5. Those are the settings I prefer. Pic attached showing why. Not flawless (nothing is). Enjoy!

P.S. I searched Indicators/Downloads and could not find this in either NinjaTrader 7 indicators or the Elite section. I believe I got it originally from NinjaTraders Support Forum and modified it to suit me.

After all, it's what you learn AFTER you know it all, that counts!
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Register to download File Type: zip WizErgodic.zip (6.9 KB, 60 views)

Last edited by TheWizard; November 19th, 2013 at 12:15 PM.
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  #13 (permalink)
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Just a note, this is not an Elite thread. Not sure if these indicators are Elite are not.

If they are, please link to them - do not attach.

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  #14 (permalink)
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Any suggestions on applying Heiken Ashi for Trend strength confirmation.....

I have been recently reading up on and watched a few videos on youtube on these candles, and they seem somewhat promising, as far as " Should I stay in this Long trade, even though it's coming up on a Resistance level, or should I take my profits or tighten my Stop " . The HA candles, when Long and showing upward strength, are stronger, when there are no lower whicks on the bodies of the HA candles, and vice versa for Short/Bearish candles on HA . On one of the videos I watched, the Trader mentioned that he will Exit a trade ( basing whether to continue staying in or not ) when say..... He's Long and 2 of the HA candles Close RED in a row. This is a topic that I have been looking for help and answers to, and I appreciate all feedback and insight on the topic - Michael

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  #15 (permalink)
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mdsvtr View Post
I have been recently reading up on and watched a few videos on youtube on these candles, and they seem somewhat promising, as far as " Should I stay in this Long trade, even though it's coming up on a Resistance level, or should I take my profits or tighten my Stop " . The HA candles, when Long and showing upward strength, are stronger, when there are no lower whicks on the bodies of the HA candles, and vice versa for Short/Bearish candles on HA . On one of the videos I watched, the Trader mentioned that he will Exit a trade ( basing whether to continue staying in or not ) when say..... He's Long and 2 of the HA candles Close RED in a row. This is a topic that I have been looking for help and answers to, and I appreciate all feedback and insight on the topic - Michael

My testing finds them to be no different than any other indicator or bar type. Being as you are a trader with advanced experience I would suggest you keep doing what you're doing and not spend your time trying to learn what Heiken Ashi

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Thank you MWinfrey for your response. I may just pull up a replica ( but with HA candles ) , next to my chart that I enter my trades from, using regular candlesticks, and do a comparison analysis , especially on the bigger move " Swing " trades that ocurr/ have occured on any given day, and see if within those swing moves, if any whicks were present on the HA, and if so, on such a strong move up or down, " Why " those whicks might have occured ( cross refrencing the two charts side by side...... Regular candlestick to HA candlestick chart ) , same Timeframes on both of course. Thanks again - Michael

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  #17 (permalink)
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mdsvtr View Post
Thank you MWinfrey for your response. I may just pull up a replica ( but with HA candles ) , next to my chart that I enter my trades from, using regular candlesticks, and do a comparison analysis , especially on the bigger move " Swing " trades that ocurr/ have occured on any given day, and see if within those swing moves, if any whicks were present on the HA, and if so, on such a strong move up or down, " Why " those whicks might have occured ( cross refrencing the two charts side by side...... Regular candlestick to HA candlestick chart ) , same Timeframes on both of course. Thanks again - Michael

I think that's a good approach. I do the same thing when looking at new stuff.

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  #18 (permalink)
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20 period ema will keep you in a trade.
Nothing less than 30 tick stop on crude.
I tested stops and trailing stops on many automated strategies and found 35 tick trailing stop stayed in the trade the longest.

25 or less got hit too often.

35\70 stop \ target was the best balance of profit factor, drawdown and net profit. This applies to my strategies only, but I wound up with minimum of 35 tick for my style.

My advice is to use 30/30 ratio. Take 30 ticks and look for next opportunity.

20 ema is a good balance for getting you out before reversal and keeping you in a trade long term.

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