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Boomerang indicator system at indicatorwarehouse.com


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Boomerang indicator system at indicatorwarehouse.com

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  #1 (permalink)
Marietta, GA
 
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Has anyone looked at the Boomerang system at indicatorwarehouse.com? It looks like a couple of MAs in panel 1 (?). The forceindex in panel 2 looks interesting. Anyone have an idea of what it is? If this is not a good thread for this post please feel free to move it. Thanks.

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I use the ForceIndex. An excellent indicator that not a lot know about. It was developed by Dr. Elder along time ago, and basically is as follows:

((CLOSE (Today) - CLOSE(Yesterday)) * Volume(Today). Even though the formula refers to "Today" and "Yesterday", it can be used on Daily, Weekly and Intraday charts as the program counts bars and not days.
If the indicator is above ZERO you are LONG and if below ZERO you are short. It is so simple but gives you the momentum and force of direction.

I use this indicator daily for intraday trading and it keeps me on the right side of the trend. If anybody is interested I can upload it here.

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perryg View Post
I use the ForceIndex. An excellent indicator that not a lot know about. It was developed by Dr. Elder along time ago, and basically is as follows:

((CLOSE (Today) - CLOSE(Yesterday)) * Volume(Today). Even though the formula refers to "Today" and "Yesterday", it can be used on Daily, Weekly and Intraday charts as the program counts bars and not days.
If the indicator is above ZERO you are LONG and if below ZERO you are short. It is so simple but gives you the momentum and force of direction.

I use this indicator daily for intraday trading and it keeps me on the right side of the trend. If anybody is interested I can upload it here.

PerryG,
Please do upload to the downloads section. It would be appreciated.

Andrew

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Rechovot
 
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Here is the Index. The attached index was kindly enhanced for me by eDanny a member of this board. It now has colours for Above and Below zero.

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Marietta, GA
 
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Thanks for this Perry.

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perryg View Post
Here is the Index. The attached index was kindly enhanced for me by eDanny a member of this board. It now has colours for Above and Below zero.


Thanks for this... I'm curious if someone who knows how to use this type of plot (shown below) would show me how to do this for Min and Max to plot above and below zero in lieu of what is in the current version.
 
Code

if(CurrentBar == 0)
{
Plots[1].Min = Lines[0].Value;
Plots[2].Max = Lines[0].Value;
Plots[4].Min = Lines[0].Value;
Plots[5].Max = Lines[0].Value;
}

Roonius was kind enough to do this to a stochastics file but i'm unsure how to use it with the switch-case-break style of coding.
Thanks for any help you can give to further my education.
Kirk

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Thanks to my friend TraderWerks, I was able to finish this.

Try this for a different plot style above / below zero.

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Had a look at the new indicator. If I use the same numbers on the old one, cannot see the difference. Can you please explain.

Another suggestion is try using 13 EMA on only one indicator and set the other one to transparent. A further way to use this indicator - this is the way I use it, is to make the line a DASH with width 90. You then get a very nice clean indicator at the bottom of the chart changing colours when below and above zero. Although this indicator can almost pinpoint your entry, you must use it in conjunction with another indicator that can confirm your entry.

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Hi PerryG,

For whatever it's worth...

Unless you have something different, the ForceIndex that I had from your earlier post colors the plots slightly above / below the zero line.

I understand how your code looked at previous bar vs current bar to change the color.

See that attached screenshot.

2010-04-05_1508


HTH,

Kirk

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Marietta, GA
 
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I had already changed the fast line to transparent, but I had not tried the dash setting. But the dash style has to be set to DASH and the plot style has to be set to HASH. I found that for me a period of 26--using an HMA--looks pretty good. Definitely has to be combined with something else particularly for exits.

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