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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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  #201 (permalink)
Mandeville, LA
 
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Fat Tails View Post
[/B]


Modified Keltner using an EMA as a CenterLine with Period 55 and ATR 3.

Downloads - NinjaTrader 7 Indicators - Keltner Universal V4 - Big Mike's Trading Forum

I think maybe they used to have the ATR set to 3 when they were using tick charts, but they now set the ATR for the EMA 55 Keltner channel to 3.5 rather than 3. I just wanted to make that clarification in case someone is trying to replicate the system as it is currently being sold and taught.

Best,

Daniel

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  #202 (permalink)
Market Wizard
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buddy858 View Post
I think maybe they used to have the ATR set to 3 when they were using tick charts, but they now set the ATR for the EMA 55 Keltner channel to 3.5 rather than 3. I just wanted to make that clarification in case someone is trying to replicate the system as it is currently being sold and taught.

Best,

Daniel

This really depends on the bar type used. Let us take three different bar types: a Better Renko, Renko-Hybrid and Kase bars. Then you will find the following:

Reversal Size:

A 4-BetterRenko bar has a similar sensitivity to reversals as a 6-RenkoHybrid and a 9-Kase bar. Or otherwise put, for a given bar size (range or true range) Kase bars react to smaller reversals than RenkoHybrid bars, which in term are more sensitive to reversals than Renko bars.

Directional Price Action:

When the market is perfectly trending, Renko-Hybrid and Renko-Spectrum bars still show an overlap. This means that those bars are oversized relative to price action, if you compare them to other bars. You would therefore need to reduce the multiplier applied to the bar range to calculate your Keltner Channels, and you are back to 3.

I would not try to exactly replicate the Nexgen system. There are numerous approaches possible, which are based on a similar logic

-> identify trend (slope of regression line, price versus regression line, price versus midband)
-> identify support and resistance (fib lines, pivots, etc.)
-> identify overbought and oversold conditions (Keltner Channel)

Then wait for a consolidation within an established trend and enter when price resumes in the direction of the original trend and nothing is in the way of the price move.

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  #203 (permalink)
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Fat Tails View Post
Keltner Channel -> CenterLine is EMA(55), ATR(55) uses exponential smoothing, bands use multiplier of 3.5

Ok, I see here you wrote they use a multiplier of 3.5. I guess I should have continued reading through the thread before commenting on your previous post. Apologies.

D.

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  #204 (permalink)
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Trader Duck View Post
I use to think the LOM was using a Stochastic or RSI for an over bought/sold signal. Then I noticed it plotted each time a bar was at or near the OB and closed on the opposite side of the STs. I forget now, but the Macd bbs may have been turning at the same time. My Stochastic settings give a signal a the same time. I found that for a slow Stochastic using 10,2,4,1 on Trade Station (4,10,3 with ninja) works very well. I back tested those settings and in 12 hrs of the EC there was a fortune to be made just using the Stochastic signals with the Nexgen method. Here is a couple of charts that show the back test. I only did 12 hrs of the EC market and never did any more. I just wanted to know if those setting were good.

The LOM is actually based on a CCI overbought/oversold. Nothing special. Basically, if there's a close on the opposite side of the Small triggers near the Outer Band or beyond (EMAkeltner channel 55 with multiplier of 3.5) it will plot LOM...

D.

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  #205 (permalink)
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Fat Tails View Post
This really depends on the bar type used.

I thought that might be the case. Thank you very much for this explanation.

D.

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  #206 (permalink)
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I studied too many systems and indicators for over 15 years and I can say now that I earned a lot of experience. Personally, I am an Elliottician in philosophy. I crossed with NexGen through a friend of mine 3 years ago and I studied it carefully. I managed to reproduce quite well all of its indicators except the most valuable (my opinion) which is the Fibonacci levels of support and resistance. As far as I know these levels are clusters from 10 time intervals so it is not an easy task to reproduce them correctly. Yes, the software is very expensive and also the marketing tactic of the company is not friendly enough with new and old also users. Nevertheless, I believe that the value of the toolbox (which Fibos are the main weapon of it) worths the money, the time and the effort for someone who is serious about trading. It needs to invest to it hunderds of hours to understand the ''set-ups'' and the philosophy behind them. Note that I do not like the semi-auto version of Revolution although the Renko bars are interesting. I prefer the old-fashioned version of T-3 at Tradestation which gives a lot of freedom to a well-trained trader to follow the set-ups and also his/hers instict of the trader. Surely, it is not something that it is plug and play after 1-2 hours of reading. But I believe it worths the (admitable the high price) money for someone who is willing to invest to it a lot (and I mean A LOT) of time and effort.

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  #207 (permalink)
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If the fibs is the main missing weapon, you can get excellent Fib cluster indicator from Fat Tails.




Goldentrader View Post
I studied too many systems and indicators for over 15 years and I can say now that I earned a lot of experience. Personally, I am an Elliottician in philosophy. I crossed with NexGen through a friend of mine 3 years ago and I studied it carefully. I managed to reproduce quite well all of its indicators except the most valuable (my opinion) which is the Fibonacci levels of support and resistance. As far as I know these levels are clusters from 10 time intervals so it is not an easy task to reproduce them correctly. Yes, the software is very expensive and also the marketing tactic of the company is not friendly enough with new and old also users. Nevertheless, I believe that the value of the toolbox (which Fibos are the main weapon of it) worths the money, the time and the effort for someone who is serious about trading. It needs to invest to it hunderds of hours to understand the ''set-ups'' and the philosophy behind them. Note that I do not like the semi-auto version of Revolution although the Renko bars are interesting. I prefer the old-fashioned version of T-3 at Tradestation which gives a lot of freedom to a well-trained trader to follow the set-ups and also his/hers instict of the trader. Surely, it is not something that it is plug and play after 1-2 hours of reading. But I believe it worths the (admitable the high price) money for someone who is willing to invest to it a lot (and I mean A LOT) of time and effort.


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  #208 (permalink)
dubai
 
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I have the T3 Software and I started using Renko bars and after some observation find that
its quite good - esp trades at the Fib levels - I dont know about revolution though
thanks:
pcguru:

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  #209 (permalink)
dubai
 
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I ve used the RENKO platform too, its good but need to adjust to the settings for instrument
being traded as for some Instruments the charts are too fast..... also I don't know about their
new releases - Evolution etc

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  #210 (permalink)
Alexandria, Minnesota
 
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Their software may work great. But after reading this thread.
Nexgen fraudsters | Elite Trader
I decided to pass..

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