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NexGen indicators and review (www.nexgent3.com)


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NexGen indicators and review (www.nexgent3.com)

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  #191 (permalink)
Los Angeles, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Rithmic
Trading: GC
 
plethora's Avatar
 
Posts: 629 since Dec 2010
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OK, so we can both confirm that neither of us has traded the Nexgen system. Lol. If you're interested you can get a demo. Once you decide to cave, the lease is $5K a year. I believe they charge extra for the signals.

Funny you should mention the dValueArea - I just put it on my 4181-tick chart and have been watching it. I'll post the chart I was looking at today. Even my Trigger Lines are on that chart. I highlighed the POC in bold font before posting because I hadn't even been looking at it. Fascinating!

I didn't know Panda Warrior is using the dValueArea on his charts. Hippity hop over his journal...






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  #192 (permalink)
Concord, CA
 
Experience: Intermediate
Platform: Sierra Charts and NT7
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Hi Plethora, Thanks for the charts...I trade an a scalp time frame, and use the dvalue, lately price has contained within the top/bottom lines and jumps of the POC one way other the other. Seems to depend on time,and what happened overnite. Like I said above that I like to use the time from the Euro start which helps to determine where the bias is already in the market....at least for me. Some days with chop it rides the POC whe the volume is weak. I stay out until it makes a second move with large trades to push the small stops and creates that little panic momentum. The key for me is to guage that momentum first by using a higher time frame chart of 3X or 5X of the entry.
I am updating my indicators otherwise I would post a chart. BTW, thank you for yours, and explaining the triggers.

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  #193 (permalink)
Los Angeles, CA
 
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plethora's Avatar
 
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Today's Crude


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  #194 (permalink)
Amherst, New York
 
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Is that on Big Mike's?

Thanks

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  #195 (permalink)
Los Angeles, CA
 
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Post 102
EMAMult21A

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  #196 (permalink)
New York
 
Experience: Advanced
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Fat Tails View Post
I have coded a fib confluence indicator, which is not a Nexgen clone, but produces similar results. If you want to test it, send me a private message. It would be pretty easy to code a 1:1 indicator for the current alternate.

Hi there

IF YOU HAPPEN TO HAVE A REPLICA OF THEIR fIBS RETRACEMENTS PLEASE CONTACT ME BECAUSE I'M INTERESTED ON THIS

Thanks
RDMENDES

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  #197 (permalink)
Market Wizard
Berlin, Europe
 
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RDMENDES View Post
Hi there

IF YOU HAPPEN TO HAVE A REPLICA OF THEIR fIBS RETRACEMENTS PLEASE CONTACT ME BECAUSE I'M INTERESTED ON THIS

Thanks
RDMENDES

@RDMENDES: I do not have a replica of the Nexgen fib retracements. I do not even know how they are being calculated - except that they are built from different types of fib lines including prior highs and lows, fib retracemtns, fib expansions and alternates.

The story of my own fib indicator is different and originally had not been influenced by Nexgen. My first attempt to code a Fibonacci indicator goes back to the year 2009, when I coded a FibonacciCluster indicator for NT 6.5. I have gradually developed this indicator, and the last version of it was CMIFibonacciClusterV93, which dates back to February 2010.



I had then adapted the indicator to NinjaTrader 7, and it became anaFibonacciClusterV14, which can still be downloaded here



However, the FibonacciCluster indicator had several weaknesses, and finally I have not continued to maintain it for several reasons:

-> The underlying zigzag used by the anaFibonacciCluster is built on swing highs and lows of the swing strength 2 (meaning a swing high is a daily high which is higher than the highs of the two preceding and the two following trading days, similar for lows)
-> The anaFibonacciCluster produces too many lines as an output, it is impossible (!) to trade off all those lines
-> The indicator did not reflect well the Fibonacci lines over several time frames

I therefore needed to change the architecture with respect to these 3 points:

-> Use a zigzag which is based on a minimum deviation (similar to the NinjaTrader zigzag indicator), with the minimum deviation being defined as a multiple of the average true range over the lookback period of the chart
-> Use different multipliers for the average true range to calculate the swing higs and lows for different time frames
-> Use daily data to expand the initraday data to reduce the amount of calulations done
-> Calculate confluence zones by using a moving confluence window, in order to produce only areas with the strongest Fibonacci support and resistance

For the confluence zones each of 540 fibonacci lines is attributed an individual weight, and those weights are added up within the confluence window to determine areas of support and resistance.

This is clearly not the method used by Nexgen, and the only thing that those indicators have in common is that they exploit fibonacci confluence and display horizontal lines, which are supposedly areas of support and resistance. Of course, I only have confidence in my own indicator, as I have coded it myself. Dnaiel Kahneman would explain that this has to do something with anchoring, and is not reasonable at all.

Also this was more a historical excursion to explain that the indicator was never intended to be a Nexgen clone, but had a different history. The description above also tells you how to code your own fibonacci indicator. It takes some time, but there is nothing magic about it. Fibonacci Lines work particularly well, if they line up with other areas of support and resistance. For example, if I was to trade the Nexgen system - which I have never tried to do - I would certainly add some floor pivots and treat them in the same way as the Fibonacci Confluence Areas.

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  #198 (permalink)
Lviv+Lvivska/Ukraine
 
Experience: Beginner
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Posts: 14 since Mar 2013
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Dear gentlemen and ladies (maybe) /forgive me for my English/ however after reading all the pages of threads, unfortunately I did not find a product review without some bias.
What I understood:
1. This indicator Lexus - to ride him you will have to spend more than 10k time (from personal experience of a successful trader)
2. The successful combination of simple single indicators on the same chart
3. Secret additive in the style of "Velvet Hands" Celentano associated with merging zones Fibonacci and it is very expensive.
What is I not understood:
1. Who is the target audience ...
However, I will be very grateful to those - who tried to use a similar approach to trade, and show screenshots or will list a set of indicators that are used to build the chart
Is welcomed in two variants:
- A set of free indicators
- A set consisting of labor that must be financially reward

I think after using a BM's Forum combination of indicators - evaluate Lexus in the future will be easier


P.S. Perhaps many have written sloppy. I hope in the future, most likely after 10k hours on the forum Mr. Big Mike, I'll write better

You all good health and all blessings

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  #199 (permalink)
desert CA
 
Experience: Intermediate
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  #200 (permalink)
Lviv+Lvivska/Ukraine
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: ES
 
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