Decision bar is one of the better idicators I have seen. It keeps drawing support & resistance lines on your chart throughout the trading day. Then when you get a breakout
or breakdown on your chart, decision bar labels the bar as a breakout or breakdown.
This way it catches all the big moves. I use it with an E20new & a coloured moving average indicator. In my trading I take most of the BO,s or BD,s that decision bar signals
in the first hour and a half after market open as long as they they don,t have any mayor pivots , trendlines etc right below or above them.
I have,nt seen any free indicator that works this way , but there may be one.?
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I subscribed to the service for nearly two years. But here I am, not making money. You can see plainly which signals were excellent, after the fact of course. It really sickened me to see all the money that was out there for the taking. Unfortunately, I never seemed to implement the strategy properly.
There's a fair amount of tweaking involved with this software. The settings are user-defined. The idea is that you change the settings until you get good signals, but you're only seeing this after it occurred. I ended up adding other indicators to it try to keep me out of choppy conditions. My habit is to only enter when conditions are dangerous and when the market finally makes a nice move, I don't trust the signal when it's the real thing.
The real problem with the software was my inability to trust and follow the signals. All my fault. Were there times I did things correctly? Of course. But overall, I found it hard to figure out when to stay out. I haven't ruled out re-subscribing to it, but there's so many ideas on here, like Perry's Trading Platform, I just can't see subscribing again.
I have loads of screenshots of the signals it gave on the ES 1000 tick chart. And other various intervals of the ES. PM me if you want to see any. This concludes my very first post on any forum, anywhere.
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And don't blame yourself, having the entry signal is not enough to succeed.
BTW, I can't judge, but this indicator and its website looks like a dozen of others, scam and snake oil.
Success requires no deodorant! (Sun Tzu)
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Yes you can look right here on big mikes indicator downloads & or NT indicators on the ninja trader forums. There is an indicator there called : dynamic support & Resistance. This is very similar to the decision bar set up, with the same type of dynamic S&R lines automatically drawn on your chart, but when you get a break out or
break down bar closing above or below the support or resistance lines this indicator does not label the bar as a breakout or breakdown like Decision bar does but its easy to see without the labels.
There is even a breakout / breakdown indicator that paints arrows on one or both of these forums that you could add if you think it will help. Yes just taking all the breakouts or break downs blindly won,t work.
Just like any other trading if you can wait for all your ducks to line up before jumping in , ie best times of the day to trade, double tops & bottoms, reversal bars, mayor S&R areas , convergence, breakouts or breakdowns after tight range consolidation your trades will have a higher success rate. good luck.
I believe I have found an indicator that is very similar less the bells and whistles (alerts). No disrespect to Big Mikes, home of the best free indicators, but I found the one I am using on Ninja support forum. It is called Dynamic support and resistance and I use the default settings. It's on this page about 2/3 of the way down Links and Downloads Manager - NinjaTrader Support Forum I have used DB's as well in the past, I had good luck, but it was primarily with the breakouts and the breakdowns. I currently use this indicator in conjunction w/ The Wizards Holy Grail II. BTW, like everything else, it will fail to give you anything in choppy, narrow range markets.
BTW, if anyone could add a breakout alert to this (NT7) I would be forever greatful. I would do it myself but I am still battling the Ninja Script/programming learning curve.
I no longer have Decision bar or any of the free dynamic suppport & resistance indicators that can be found
on big mikes on my charts. Entering orders on breakouts usually means lots of slippage & bad fills.
I used to wait for a pull back after the initial breakout to enter a trade.
Now I get in at the bottom or top of a move with the add of divergence & only shoot for small initial targets ,
targeting previous swings & or first fib.
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initiated the decisionbar on the charts today and believe a similar compare to the chaos fractal on the multichart, I changed the point plot to a line on upper and lower band and walla... a decisionbar break style indicator. also can optimize the single input. I pulled the simple 2 liner from the chaos fractal and turned her into a strat with an added bar count input . backtest results appear excellent. thought I would share and its free besides.
this is the original code, I replaced the "80" with an input "barstrength(80)" for added optimazation.
IF VALUE1>-1 THEN PLOT1(VALUE1,"BUYFRACTAL");
IF VALUE2>-1 THEN PLOT2(VALUE2,"SELLFRACTAL");
remember to change the point to line in the plot setting.
to strat replace the plot to buy next bar on val 1 , short on val 2
heres the strat:
INPUTS: barstrength(80), STRENGTH(2);
VALUE1=SWINGHIGH(1,H,STRENGTH,barstrength);
VALUE2=SWINGLOW(1,L,STRENGTH,barstrength);
//go long
IF marketposition=0 and VALUE1>-1 and close is > value1 then buy next bar at market;
//for added confirm, i added "low > value1 and close > value1"
if marketposition=1 and close is < value1 the sell next bar at market:
IF markeposition=0 and VALUE2>-1 and close is < value2 then sellshort next bar at market;
if marketposition=-1 and low is > value2 then buytocover next bar at market;
this was by memory and my mind is shot, yet you get the idea, optimize and have fun.
Not a vendor, just a trader. I do not sell anything. Current studies involve EasyLanguage, Money Management and Technical Analysis. Do Enjoy: Fibs, S / R's , Eliotts, Cycles, Trends , Skews. Not Enjoy: fundamentals, Main St Media . It's all about keeping your emotions out of trading and work a system. Appreciate all insight as will be returned. Scotty B.
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Wanted to post my actual code of the chaos fractal in indicator and trade system. Also needed to note that the use of Heikin-Ashi bars outperformed ohlc bars.
if marketposition=0 and open is > value1 and low is > value1 and value1>-1 and time is < 1540 then
buy next bar at open ;
if marketposition=1 and close is < value1 or time is > 1550 then sell next bar at open;
if marketposition=0 and close is < value2 and high is < value2 and value2 > -1 and time is < 1540 then
sellshort next bar at open;
if marketposition=-1 and close is > value2 or time is > 1550 then buytocover next bar at open;
//
notice i pull end of day. you can add low > value1 or high > value2 for added confirmation.
test results was TNA on an 8 min Heiken bar settings 72,9 .
best to visualize the indicator on different time frames then optimize to fine tune. currently running live paper to verify. the screenshot is the trade system with the matching indicator overlay. remember that the point plot is changed to line on both upper and lower bands.
the screen of the backtest was 25k, 8 min , 6 month
Not a vendor, just a trader. I do not sell anything. Current studies involve EasyLanguage, Money Management and Technical Analysis. Do Enjoy: Fibs, S / R's , Eliotts, Cycles, Trends , Skews. Not Enjoy: fundamentals, Main St Media . It's all about keeping your emotions out of trading and work a system. Appreciate all insight as will be returned. Scotty B.
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i used it 10 years ago , its 5 stars compared to the rest of the B.S. being sold. it I.D. a trading range, kind of like the squeeze indicator. with this you can not scan multi-markets and time frames inside ninja trader. a trading range is a form of balance where the market stops re-balance the inventory and takes a breath be for moving on. there are only 3 things that can happen 1. it can stay in the balance of the range , 2. look above the range and fail. if so the target is the other side of the range. 3 look above the range and go or brake out. the software gives a signal on the bar this happens on. they ad on a fast R S I type indicator. if below the line and falling you can go short , above line and raising you can go long. ad a VOL-stop and that is about it. its simple but works very well. this software will shorten the learning curve for sure. the problem new trader have using it is the software does not factor in gaps, news. floor pivots , key reference points on longer time frame charts. like get a brake out signal at the R2 or S2 pivots. for example . or taking a brake out trade over lunch time or on a slow Friday afternoon. hope it helps
, but I found the one I am using on Ninja support forum. It is called Dynamic 
