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Viper Trading Systems Indicator
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Viper Trading Systems Indicator

  #231 (permalink)
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TBH i think their indicators are a waste of money. I was in their webinar room a few times this week. Yeah their charts are 'colorful' and fancy but I could barely see price at all. I could not make any price action out as there was a MASSIVE RAINBOW on all charts.
If you looked carefully enough here, Im sure you could somewhat recreate something similar. Be careful not to redevelop a patented idea. It has been done here before.

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  #232 (permalink)
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coolma1973 View Post
I was wondering if there is a indicator that is similar to the money band? It seems to give the trend and the top/bottom range (especially the green and pink zone). Thanks

Look carefully at the chart you posted - does it actually give you any extra information on the right hand edge? NO
The bands simply move with price at both reversals and continuations. All bands look great/pretty/colourful/etc on a full page chart, and in my (long, painful) experience are useless where it really counts.
Treat with a pinch/bucket of salt is my 2c.

Travel Well
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  #233 (permalink)
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coolma1973 View Post
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I was wondering if there is a indicator that is similar to the money band? It seems to give the trend and the top/bottom range (especially the green and pink zone). Thanks



Regards,

Jerry

It is a set of 4 simple channels, each of them comparable but not identical to a Donchian Channel. All 4 channels have a fixed width

-> inner channel width = 3 x Renko brick size
-> second channel width = 6 x Renko brick size
-> third channel width = 9 x Renko brick size
-> outer channel width = 12 x Renko brick size

Whenever there is a brick that would close outside the channel, the channel is adjusted in the direction that the breakout has occurred.

You can probably code this within 60 minutes (including all the color stuff which would take most of the time).

I do not see why this channel would be superior to a standard Donchian channel, which works in a similar way, but does not have a fixed bandwidth.

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  #234 (permalink)
Market Wizard
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coolma1973 View Post
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I was wondering if there is a indicator that is similar to the money band? It seems to give the trend and the top/bottom range (especially the green and pink zone). Thanks

Regards,

Jerry

I achieve something similar by using 3 instances of the StepMA indicator (40 period, 0 percentage / 40 period, 100 percentage / 40 period, -100 percentage - because I've been too lazy to code it all into one indicator). Then you need an entry indicator or just spot the entry visually. Longs above the mid StepMA, short below.

After all, it's what you learn AFTER you know it all, that counts!
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  #235 (permalink)
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coolma1973 View Post
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I was wondering if there is a indicator that is similar to the money band? It seems to give the trend and the top/bottom range (especially the green and pink zone). Thanks





Regards,

Jerry

Has anyone asked for this in the "Want your NinjaTrader indicator created, free?" thread and if so, do you know what page it is on?

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  #236 (permalink)
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TheWizard View Post
I achieve something similar by using 3 instances of the StepMA indicator (40 period, 0 percentage / 40 period, 100 percentage / 40 period, -100 percentage - because I've been too lazy to code it all into one indicator). Then you need an entry indicator or just spot the entry visually. Longs above the mid StepMA, short below.

Hello Wizard, Nice template with the stepMA do you mind posting a template of this chart, Thank you

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  #237 (permalink)
Market Wizard
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jesushz View Post
Hello Wizard, Nice template with the stepMA do you mind posting a template of this chart, Thank you

@jesushz,

IF YOU ARE AN ELITE MEMBER - PM me and I'll send you the latest indicators and chart template. Don't want to corrupt this Viper thread.

After all, it's what you learn AFTER you know it all, that counts!
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Viper Trading Systems Indicator-es-20150312.jpg  

Last edited by TheWizard; March 12th, 2015 at 10:16 PM.
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  #238 (permalink)
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Price action

Hi Coders, will it be possible to get the price action indicator to paint an arrow in place of the letter C? or it should paint both the letter C and an arrow.

thanks in advance

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