Eric Johnson

Hello again, was reviewing some of Walter's work on the forex forum and saw that he was using a VT trader indicator to show when a trend is in motions or in chop. The indicator was a version of the rainbow chart indicator. I thought to show how to use it as a squeeze indicator, by using more standard settings. It is a free platform, and decent with free forex feeds. So my settings are 50 exponential MA, and smoothing 4. Notice how the rainbow gets flat in the "squeeze zones". If I had time to play with this I would compare it to the standard TTM settings and tune it. For now my point is that after the months have passed, I am still a reversal trader. Most markets reverse far more than they break out, especially if I avoid major events like opening and closings. Also I need to be aware of the squeezes, because they do lead to hard trend breakouts . I prefer to "see" the squeezes with my eyes like I would a formation, because more people will respond to them. Some of Carters squeezes come at unusual times, not obvious to the naked eye, and always a bit delayed. So that is why I like this rainbow indicator. You can tune it to your time frame. Do you want smaller squeezes to be picked up for scalping? Try the 14 ma setting, or a 200 if you like. The attachment is on a 5 minute chart, but I like having an indicator that is easy to tune to market conditions.

Have been with MB for about four years now, trading many things, stocks, options, and recently forex. The account opening amount is reasonable and should be considered. I just do not like too much cash in these accounts, or in dollars for that matter. Overall, my trading has been good with them, and the spreads good for scalping. The thing that impresses me most is that their customer service is the best I have ever encountered. Also a bit of code for those with ears to hear, their background check to open an account is not too invasive. Also for my equities accounts I could get interest on my account balance. The one bug that I have seen is that on the new Navigator running or altering the beta chart can crash the platform, and it does not really save indicators properly. Anyhow they give free feeds for Quote tracker, and work with meta trader and Ninja Trader if you like DOM ladders. Also their TTO orders are nice. I have seen some horror show demos that show that you pay 2 pips to enter, and 2 pips to get out. With MB what you see on your P/L for exit is pretty much what you get.

It works well on the demo, but when we went live we had it twice just put in random orders, reverse positions, unable to exit, and just about sunk an account two times using it. They admit that their own advanced software is a bit shaky, I think the interface with the DOM has issues, this was about 6 months ago. PFG customer service is not as good as MB for sorting it out, and NT said it had nothing to do with them. MB has been very solid, PFG left us hanging and guessing far too many times for many things.

Hi, Mb trading can be used with Ninja trader. PFG Best can be also, but I do not recommend PFG for technical reasons. Also to run Ninja trader well you have to get the right combo of .net 2.0 framework, plus the upgrade patch. Higher versions of .net can disrupt it. Also don't forget any API file you may need for the brokers selected. Also you may need backfill, and MB doesn't supply this. If you open a basic PFG account, and get great free feeds and backfill, plus futures feeds free. I think it is like $500 to open, but then you can withdraw some. Ninja is a tricky platform, it does have a reasonable repair option on the add/ remove program area. Paper trade with the DOM for awhile, It does freeze and crash sometimes. Also there is a fee for live trading. It does have amazing preset trailing stops and order presets. You have to work out your key code to offer access to the correct broker option selections, they change upon request from NT. Of course there is trade station but, well I will not go back to them again. Anyhow good luck with freeze free trading.

Hi, here is an updated template for Quote Tracker, it has added new screens for short term oscillators, with paints. Also there are many new day trading additions. Actually the shown screen shot is not too special, just an example of how the older system looks with the oscillators hidden. The paints are long or short term, either pointing out momentum tops, price tops or 50% into a trend progression. After a squeeze (or tiny oscillating channel) you may get a powerful paint, that generally is not a reversal signal. A reminder, before installing this to try, back up your own templates. The key for me using oscillators is knowing the environment. During sideways oscillation, a short term oscillator paint, is enough to be a reversal, like a CCI paint. During trending, look for longer term oscillator confirmation. After a squeeze, expect early paints to not be reversal points. Then use 50% marker doubling to start looking for reversal tops. For now there is a free daily backfill from an Australian company. QT has started charging to use live feeds with it's platform. Also it is hard to get backfill for forex, so I have done a redesigned system for meta trader, but I miss the paint bars and alerts. MB trading still offers forex quotes with account. So a compilation of many hours of work, hope somebody can make some use of it. Oct update forum.zip

Just a few thoughts on the technical value of using an S&P continuous futures chart for stock market prep work, and monitoring it. For me it is worth the investment to use a backfill source that includes this chart, even if I am not trading futures. First of all, there is so much data reflecting foreign market moves, news announcements, or after hours earnings. More importantly is the continuity of the establishing of trendlines, support and resistance levels, and also for technical indicators. Most oscillators are relying on a number of back bars. To jump in at market opening, or gaps between stock trading hours, can distort or make indicators useless for the nearly the first hour of trading. More importantly for me, is that my personal system of overbought, oversold, paintbars just show up clearer on the futures chart. This is helpful for whatever I am trading, assuming it is an equity that relates to the index movement. I am observant of enough volume and reasonable volatility when I use indicators. To effectively use oscillator extreme conditions as an indicator, I dismiss the signal if there is an unusual price gap, very low volume, unusually narrow trading range, or extreme volatility. I am also very cautious about the first and last 30 minutes of trading, due to "bulldozer" stampedes, rather than a technical traders or oscillating market environment . Anyhow hope this of use to someone out there.

I played around with the paintbar a bit and liked a 0.25 multiplyer. The paintbar is less useful than a line indicator for me.The medium range bars turned on sometimes during a minor cycle reversal point. I will share some of the combos I use it with. They are better on some charts than others. Mostly they are like scalper alerts for exit points, but can be used like the Value indicator to locate building momentum or extreme conditions. The afore mentioned Bressert DSS 5,2 and 5,4 are painted for extreme at 17 and 84 levels. I put white boxes near a candle that price closes above or below the keltner band 10,2. A more sensitive indicator that can be useful for some charts is the price closing outside a SMA 3,2 envelope. I put yellow/pink directional arrows above or below the candles. Let me know if anyone wants copy and paste code to try these out.

There is a nice upper chart paint bar tool shown in the coding forum under "Quotetracker TTM Value charts paintbar" , I posted a cut and paste version there, compiling the other programmers work. You need some basic paintbarring skills to set this up and use it.

A great thanks to both of you. Here is what I came up with from your work, so people can just cut and paste it into the complex expression editor. Let me know it there is anything that needs adjusting. I used the 5 SMA and .2 multiplyer. if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) >8 set color to Red if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) >4 AND (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2)<8 set color to $8080FF if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) <-4 AND (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2)>-8 set color to $B7FFB7 if (Bar High-SMA(5)) /((((Bar High[4]-Bar Low[4]) + (Bar High[3]-Bar Low[3]) + (Bar High[2]-Bar Low[2]) + (Bar High[1]-Bar Low[1]) + (Bar High-Bar Low))/5)*0.2) <-8 set color to Green For rough similiar lower indicators I use the Bressert DSS 5, 2 and 5,4 and RSI 3,3 all paintbarred.

Hi, my good friend joined their chat room for a promotional month for like $5. He really got a lot out of it, they teach much more than using their system. They have been at it a long time, as my friend has. I would say that they have large accounts and using their stop ranges, one would have to be scale down to a smaller scale for a smaller account, probably using ETF's shares rather than futures. They are not overly secretive about their mehtods, or the composition of thier indicator systems. If it were black box I would not be interested. I my thought about charging is that if you are not ready to develop your own indicators, at least you have the wisdom to pay to learn a system that they are fairly honest about it's usefulness. John says something about backtesting and if it is not good 7/10 times it is not the system for the chart. When you give complex tools away to beginners for free, it can lead to what you mentioned, shallow trading perspective. At least on this forum people can get tools and perspective.

A further comment about QT is that you should make a backup file of your old QT work outside the QT program file area to save your work. It is a bit tricky to integrate competing backup files, and my download will overwrite old work, if you "select all" during restore process. You will still have temp. backup's of your work in the QT program files backup folder. I thought that a few would just download QT and do the install to check out the many templates and indicator combos. Then take what they want for their favorite platform. There are some nice demo's of the QT automated stop systems, pivot point combos for intraday, and so many nice tools.

Hi and welcome, Those value charts were a bit difficult to reproduce. I did a decent job attempting using a few QT specialties. I used the Bressert DSS indicator, one set at 5,2 another at 5,4 . I also put up an RSI 3,3 , and you can use the slow stoc. 12,4 for a longer perpective. I have a few combonations paintbarred and set up in my download posted in the "trading indicators" section called "technical trading tools" to download with my TTM version all for QT. The value indicators are found in the template "super fast osc. TTM value slingshot" Also I posted the shortcuts for QT. good trading!

Quote tracker short cuts Here is a list of Quotetracker shortcuts. I would say that the only thing that I consider a bit under par for the QT program in general is limited (20 day max) backfill for minute/tick bars. + or - for chart zoom control and left click drag= zoom to dates control E = select template double click on lower indicators= indicator menu right click on drawn chart line (minute/tick chart trend line alerts only)= shapes and fibonacci menu right click on symbol list= insert /editing control 1,2,3,4= bar time changes 1min 5min etc... control H = open historical chart after selecting symbol on (radar) list right click on chart for large menu type on chart to change symbol you can cut and past into symbol list by right clicking on it and inserting new symbol/ you can install many at a time, if you control select copy off a scan list, as long as they paste in with a space in between symbols

Here is my perspective on the usefulness of the indicator. It is not too useful for predicting breakout direction or precisely when a channel will break out. Hence the idea of a coin flip. The idea behind BB squeeze is that if you review the history of a chart and it shows extended trend runs following periods of decreased volatility (squeeze), then you are increasing predictability. The idea is to find a breakout that will probably stay directionally strong for an etended period. They (TTM traders) stop out plenty, but the runners make the payoff. Mostly it taught me very much about breakouts and how large numbers of traders view the markets. I was traditionally a reversal trader. Good to know when the majority may be seeing a massive breakout, to over ride your reversal setup. The TTM guys make predictions and live trade everyday, and are not going broke doing it. Mostly I am impressed with how much valuable knowledge they give away for free on their videos , it makes them decent in my view. PS- I was asked where I posted my Quote tracker TTM version for Quotetracker it is the "trading indicators" section link

Hi, yes it is posted and got moved to the programmers thread area as "technical indicator tools". For sure check out the free videos on their site, if you watch enough of them you will get a good idea about which charts work well. The Quotetracker set I put together is pretty close for a freebie, but QT needs a backfill quote feed, or a few of the original download symbols will backfeed day bars for free (MSFT). All of my other indiactors can be hidden in the indicator menu to focus on the squeeze system.

You have done so much for this forum, I hope this is a bit interesting. The chart is of MSFT in a side moving market with some smooth and choppy trends. The smooth up trend beginning in Oct 2005 shows how the RSI 7,4 works, with a near 50% of up trend on the RSI upper margin cross, also a decision point price resistance from the 1st of October. You may be able to see how the RSI caught the 25% trend retrace and the 50% on the backside in December. The original point was that outside the 30 and 70 margin lines shows strong trending. I yellowed the 50 level of the indicator, because I know how you like crossovers, and this is a bit like a normal CCI. As for the momentum oscillator, the levels for crossover are up to you, depending on the size of trend you are targeting. They are used for bollanger breakouts to see direction and supporting momentum. You can see a bit of how the 2 indicators sync in the above mentioned October -December 2005 trend. I had a system of keltner band breakouts and RSI margin crosses combination, but I don't use it much. Anyhow shared ideas, new perspectives. RSI and MO.zip

There are templates that hide most of the lower indicators and just show the paints. Some indicators are confirmation, when you have all day to consider a position, wild markets, and money on the line, confirmation perspective is useful. To combine short term trading tools with long term context, takes some tools. When looking at years of data on one screen makes the indicators look dense, when zoomed in, it is not so busy. Having the right strategy and tool for fast changing market conditions allows for capturing the best moves. Trading should look simple, but the consideration and timing behind it usually complex. Tools for me are accessories, not distractions. Also for development, to view combinations of indicators, often reveals conditional setups and filtering. So with a menu, use what you like, hide the rest. When you have nice tools, someday you will want the next stage of development.

I don't think the codes are transferrable. I think the esignal quote feed will supply quotetracker though. Six months of backfill will be available unless QT is registered for 7$ a month. Two days minute bars unregistered. I have also posted a polished download attachment. I added a zero line CCI and RSI 7,4 highlight after reading some of Walters work. Also I put in the RSI 14,1 paints, it makes it look better. I know QT is new for many, but it has many nice tools including overlaying transparency charts, advanced paintbar programming, overlapping indicator displays, and is compatible with some trade platforms. Also for scans you can select multiple layouts and templates with indicator alerts. There is the ability to copy and paste many symbols into the chart list by right clicking on the symbol menu. quotetracker backup install 2.zip

A related indicator that I have found useful. It is a RSI dual line 7,4 . I hide the main and display the signal. I use the standard 30 and 70 margin levels. Within the margin is chop or little momentum. Price at the margin is a market deision point, or sometimes a 50% of total trend. Above or below is strong trending with momentum. The reason I like it is because it seems to be self tuning to convey minor and longer trend information. I also like to use a regular momentum oscillator histogram 5,22 it is the one that many of the bollanger band squeeze systems are using.

Hi, I suppose that since indicators are built on math, they are related. I put together a package of paintbarred indicators that assist me in seeing fairly precise turning points for long term and short term trends. What I found was that tick charts were generally smoothing of the indicators, but still useful. The chart shown is only one of the many combos in the program. The thread is called Technical Indicator tools. I focused on the power of 50% as seen in so many places in trading. Such as half wave, double the channel width for breakout top, fib #, and the ambush trade. I was able to paint bar the 50% of a trend by indicators, for extrapolation of price turns.

Screen shot of my freedom train (% trend) tool is attached. It looks complex because it combines many systems for long term swing trading, and short term sensitive tools. Also I have included a version of the TTM bollinger squeeze. The lower paint bars are a price reversal indicator system. There are simpler templates available in the download, and indicators can be selectively hidden. If opened in paint, the chart can be magnified. The system is done on the quotetracker platform (QT), a free download, but the indicators can be combined on any technical platform that is of quality. My guidance will be limited. This is the product of hundreds of hours of fine tuning and study. I was successful using these tools. I share this in hopes that others can make good use, in these times. In brief, the application is that of showing paint bars on the lower indicators when price reversal points are reached. Also there are signals given at 50% of trend points. I used this MSFT example because it was a new company and you can see how it works on a fresh progression, with few previous support and resistances. There is also the trade the markets TTM system built in. These tools work well on minute bars, as well as 3, or 7 day bars to get longer term perspective. To see the usefulness of this package it needs to be run on Quote tracker (quotetracker.com), best with the registered version, but MSFT has free backfill. Also take note of the original symbols upon download, they usually backfill without quotes. The attachment called "quotetracker backup install" is a complete package of my tools. Install it as a "restore backup" file. Remember to select "from a file" option, and browse for my program that was downloaded. MSFT is a bit sloppy though. The tools are good for futures also, there are many other templates included that include ultra fast oscillators for indices. Also the paintbar selection is extensive. For the specific indicators and paintbar settings, right click on the QT chart and use select indicators option. Also you an select other tool combo templates that I have made from the chart right click menu. There is even the New TTM slingshot tools on there. A few useful shortcuts for QT. Control E is to select new template. The + or - are to zoom. To zoom specifically use control and left click drag. To set fibinoccci click and drag line, then right click on the line for menu. In the settings options you can set the numbers displayed. I begin with chart, the #1 junction of the drawn in white lines (offset slightly). It shows the price where the lower paint bars signal the 50% of the minor up trend (fibonacci on the right). The measurement is precisely when the large # of red paints are first shown and where it intersects market price above. So to predict any momentum tops extrapolate. I do not use fast price jumps that trips the indicators as a valid signal. A momentum top is where the force of the up trend is technically broken. True or chop tops are where the true price top occurs, due to exhaustion bars, or follow through volatility. They are most common after a long strong trend. Many times they occur at the same place as the momentum top and a weaker trend or oscillating market. Momentum tops usually are shown with many paint bars. The chop tops are usually shown with few paints. For example junction # 2 shows the 50% of the large trend (fibs on far left). Junction #3 is a momentum top, and November of 1992 shows a chop or true top. Number 2 point is the common place where I see accurate 50% larger trend signals.On the breakout of a retrace. The amazing thing about the system is that it will often pick up 50% even if there is no retracement in price. You will notice the indicators are selective and fairly precise. There other tool templates to use to help determine what the nature of the paints are in real time. Mostly you get the hang of it by viewing many charts. Also how to set up your trading objectives and time periods, is up to you. I have many systems, but that is too extensive to explain. Continue on and you will get some ideas. Number 4 is a line that is offset to show the 50% of the minor trend from July to January 1992. September 1989 shows the green paints for a bottom. If you increase the bars to 3 or 7 day (or minutes for day trading) it will only show the major trend paints. Also when you zoom in on QT the graphics are much more useful. Number 5 is a long term trend indicator. #6 is a shorter term trend indicator. When they are colored the trend is up, when off, down. Number 7 is the Trade the Markets (TTM) Bollinger Band squeeze indicator. See TradeTheMarkets for some free videos and explanation. The arrows below are band breakouts, for extreme trending. The olive and maroon are short term trend indicators. Number 8 is a few trial squeeze indicators I was trying. Number 9 is the TTM momentum indicator to see what direction the squeeze fires and if the trend has momentum. Number 10 is the CCI, it often paints early, and can be used for small price channel trading. It often picks up short term 50% also. Number 11 is a RSI 7,4 this one needs to be examined, if it is to be used on other platforms accurately. It is very useful. When the indicator line crosses the dotted margins, the price is usually at a market derision point, on the short term. Often times margin crossover also signifies a short term 50%. When the line is above or below the margin, strong trending in price is in effect. Number 12 and 13 are standard RSI 14,1 and MFI 14,1 . I use them to check the technical shape of reversals. If they both show a rounded top or bottom, then the price reversal follow through will be powerful. If they differ, then a weak price follow through reversal. For example In the mid January 1991 the top shows rounded RSI and MFI tops. The follow through was enough to pause an up trend for one month or more. Number 14 is a combo of short term paint bars that are very sensitive. These are used in combo with #16 for short term trend trader alerts(TTM). The arrows and white boxes near price are also useful for short term trend exits. They just show when to consider exiting a trade. They are much prettier when zoomed in. #15 is volume with EMA. So this is a brief and incomplete introduction, if people have interest and/or run the program, I will answer specifics. I will also have see how the attachments work for this forum, I had to zip the chart graphic due to size. Anyhow, freely shared for the gain of those who can make use. quotetracker backup install.zip

Hi, as I posted earlier, the TTM signal system is more than just the BB squeeze. It includes the MA crossover, John likes 2 agreeing TTM color bars, and to enter on a pullback to the 8 EMA. Also momentum needs to be correct, and stay supportive. For the volatile markets he is waiting for the squeeze and entering on channel breakouts of price. I have decided to post my entire system for Quote Tracker, that has a version of the TTM squeeze on it with a market reversal system added. I will do this on another thread called "technical indicator tools"

Hello, sounds like a useful explanation. I guess my question now is, for your model, is it a change of traders (making a trade) producing the new tick? I suppose few people get this specific, due to the lack of descriptive links on the web. This was a spin off of trying to find a quality quote feed. My friend believed many were manipulated. I was moving toward verifying charts integrity with the tick record, or disqualify a feed source. I just need to have a clear working knowledge of how the exchanges are handing or filtering the data. Even the selection of the official opening tick of a session , when there may be thousands of orders in cue (at a range of prices); effects my technicals. Anyhow, at least there are helpful people who see the value of clarity.

Thanks for the links and ideas. I originally duplicated a version of the TTM squeeze using this forum, and the free videos on the TTM site. They were making daily forecasts that were of use, so I wanted something very close to what they were using. Also the trading method was evident after viewing a few videos. Sharing my work with beginners and people of skill and creativity, keeps me motivated. I use Quote tracker because it is a free download with decent tools, unlike when I was battling with trade station quirks. The idea is a low overhead platform, with decent display, has allowed me to freely share more. It is not code programmable by user, so the fine code available, I could not use. I do find it a quality platform otherwise. I agree this thread should not be a TTM re-run. It is about what can be added to the BB squeeze to make it more powerful? More specifically what triggers trending expanding volatility? A quick note to TS users, when I said " paint bars", in Quote tracker (QT) colors can be placed in zones on the upper or lower indicators, not just on price bars. For me it is about working on complex levels to some up with something simple and useable. If the tool can be shared and benefit many, all the better.