An indicator based on the Al Brooks spirit - futures io
futures io



An indicator based on the Al Brooks spirit


Discussion in Platforms and Indicators

Updated
      Top Posters
    1. looks_one NW27 with 2 posts (0 thanks)
    2. looks_two trendisyourfriend with 1 posts (2 thanks)
    3. looks_3 Linds with 1 posts (0 thanks)
    4. looks_4 jsaraga with 1 posts (0 thanks)
    1. trending_up 4,863 views
    2. thumb_up 2 thanks given
    3. group 4 followers
    1. forum 5 posts
    2. attach_file 1 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
 

An indicator based on the Al Brooks spirit

(login for full post details)
  #1 (permalink)
 NW27 
Newcastle, Australia
 
Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker: IB
Trading: SPI,FTSE100, 6E, 6A
 
Posts: 285 since Oct 2010
Thanks: 108 given, 186 received

Hi All,

Al Brooks states in his book "Have at least TWO reasons to enter a trade".

So from this, I thought I would make an indicator that flag reasons why you would enter a trade.

Possible reasons:
1. With Trend
2. Lower volume reversal bar (Wyckoff??)
3. Inside Bar
4. NR4 (Narrow Range 4)

What other single bar, bar types could be used as support argument for getting in?

The attachment shows a Multicharts chart with the indicator at the bottom.
Unfortunatley, Multicharts does not have a good hint system unlike some other charting packages.
So you just have to use the scale on the right.
The continuous dots are the trend indicator.
3=DtIB, 4=DtLVR, 5=Trend, 6=UtLVR, 7=UtIB, 10=IB, 11=NR4, 1&12 are borders.

So by getting 2 or more dots in a vertical column, we have two reasons too enter a trade.

Thoughts anyone?

Neil.

Attached Thumbnails
Click image for larger version

Name:	Al Brooks reason to enter flags.png
Views:	643
Size:	66.5 KB
ID:	36809  
Started this thread Reply With Quote

Can you help answer these questions
from other members on futures io?
Is there inherently more opportunity in smaller markets?
Traders Hideout
Experience with AGN (Introducing Broker)
Brokers
1 min chart v-shape scan help please
ThinkOrSwim
TradingView help in improving Anchored Vwap
Platforms and Indicators
MacdBB V402 NT804 + gradient + pullback not working on N …
NinjaTrader
 
 
(login for full post details)
  #3 (permalink)
 trendisyourfriend 
Legendary Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 4,089 since Oct 2009
Thanks: 3,753 given, 5,294 received



NW27 View Post
Hi All,

Al Brooks states in his book "Have at least TWO reasons to enter a trade".

I think he has it backward. You must rather find a reason not to take a trade then finding multiple reasons to enter a trade.

Reply With Quote
The following 2 users say Thank You to trendisyourfriend for this post:
 
(login for full post details)
  #4 (permalink)
 Linds 
Victoria, Australia
 
Experience: Intermediate
Platform: NT, MT4
Broker: NT
Trading: Bund , ASX 200
 
Linds's Avatar
 
Posts: 416 since Jul 2010
Thanks: 943 given, 528 received


NW27 View Post
Hi All,

Al Brooks states in his book "Have at least TWO reasons to enter a trade".

So from this, I thought I would make an indicator that flag reasons why you would enter a trade.

Possible reasons:
1. With Trend
2. Lower volume reversal bar (Wyckoff??)
3. Inside Bar
4. NR4 (Narrow Range 4)



What other single bar, bar types could be used as support argument for getting in?

The attachment shows a Multicharts chart with the indicator at the bottom.
Unfortunatley, Multicharts does not have a good hint system unlike some other charting packages.
So you just have to use the scale on the right.
The continuous dots are the trend indicator.
3=DtIB, 4=DtLVR, 5=Trend, 6=UtLVR, 7=UtIB, 10=IB, 11=NR4, 1&12 are borders.

So by getting 2 or more dots in a vertical column, we have two reasons too enter a trade.

Thoughts anyone?

Neil.

Here's a few

5. outside bar
6. pin bar
7. 3 bar reversal
8. close outside prior range ( breakout)

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #5 (permalink)
 NW27 
Newcastle, Australia
 
Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker: IB
Trading: SPI,FTSE100, 6E, 6A
 
Posts: 285 since Oct 2010
Thanks: 108 given, 186 received

Hi All,

The bouncing dots all got to be to much and difficult to understand.
So I've scrapped the indicator.

Thanks for replying.

Neil.

Started this thread Reply With Quote
 
(login for full post details)
  #6 (permalink)
jsaraga
Dayton, OH/USA
 
 
Posts: 1 since Dec 2012
Thanks: 0 given, 0 received

Thanks so much, is there I way to get your indicator?


Thanks for sharing. John




NW27 View Post
Hi All,

Al Brooks states in his book "Have at least TWO reasons to enter a trade".

So from this, I thought I would make an indicator that flag reasons why you would enter a trade.

Possible reasons:
1. With Trend
2. Lower volume reversal bar (Wyckoff??)
3. Inside Bar
4. NR4 (Narrow Range 4)

What other single bar, bar types could be used as support argument for getting in?

The attachment shows a Multicharts chart with the indicator at the bottom.
Unfortunatley, Multicharts does not have a good hint system unlike some other charting packages.
So you just have to use the scale on the right.
The continuous dots are the trend indicator.
3=DtIB, 4=DtLVR, 5=Trend, 6=UtLVR, 7=UtIB, 10=IB, 11=NR4, 1&12 are borders.

So by getting 2 or more dots in a vertical column, we have two reasons too enter a trade.

Thoughts anyone?

Neil.


Reply With Quote


futures io Trading Community Platforms and Indicators > An indicator based on the Al Brooks spirit


Last Updated on December 26, 2012


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

August
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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