The purpose of this thread is to invite input into an indicator trading portal I've been developing over the last few months. I use the portal for my own trading and thought it would be a useful addition to the elite download section for use by the community as a whole. Initial response to a portal of this nature has been positive.
1. What is it?
It's basically an interface that displays the output from technical indicators in a grid like format. One of the main advantages is you don't need to refer to multiple charts because the results are shown in one central location
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2. What can it be used for?
a. Provides the user with a quick market snapshot.
b. Enables the user to determine the relative strength or weakness of an instrument or an instrument group
c. Better focuses the trader by separating overview indicators from price action on the chart.
d. Reduces screen real estate by replacing a number of charts
e. Provide a last minute sanity check prior to trade execution i.e. wanting to go long when the collective group of instruments suggests a weak market.
3. Structure of the current portal
The current portal consists of two sections, instruments for equities and instruments for commodities. These are currently hard coded because these are the instruments I currently trade. Here are the details of each line:
1. Structure.
This section is for Value traders. You will turn it on in the parameters then set for each instrument whether it is trending up, down or Balanced.
2. Slope
Simply 3 EMAs. In this example they are set to 8,18 and 28. If the 8 is over the 18 and 18 is over the 28 then it will provide an up arrow.
3. Vwap
Enables comparison of VWAP across multiple instruments. Red V is under vwap, red 1 is under 1st SD and above 2nd SD and red 2 is under 2nd standard deviation.
4. Trend
The measures trend in market structure terms. If price is > than vwap and vwap is greater than the POC then an up arrow will appear.
5. Multi
This shows multi timeframe EMAs. Turn it on first then set the timeframe and EMA types.
6. DJRS
My own personal relative strength formula based on 5 years of 2 minute EMAs
7. Delta (30 min)
30 Minute delta for delta watches
8. Delta (Day)
Cumulative delta for the day.
To load it, setup a blank chart and remove all prices and lines etc. Load it on a 2 minute chart, probably CL or TF.
**Important note**
This indicator was given to a number of beta testers and only worked on a few machines. I have no problems with it myself. It requires quite a bit of PC resources to run and may crash your machine. In other words try at your own risk. Note, if someone else wants to take it over and improve it then please feel free to do it.
Special thanks to Zondor for spending his valuable time to make it more efficient.