Scalper Buys/Sell Replica

[traderlu 10]

Hi All,

 

I have been an avid reader of this forum for a while. I just thought I would contribute to an internet that I have taken so much from...

 

Here is a replica of Scalper Buys and Sells. As far as I can tell, it matches up perfectly. If you would like to use it along with the Heiken-Ashi paintbars, I recommend you set the plot thickness to at least two more than the thickness of the Heiken-Ashi (In the attached picture, the Scalper Indicator is set to 3 and the Heiken-Ashi is set to 1). Also, please note that candlesticks are not supported.

 

Bugs/feedback are appreciated. I hope you all enjoy. Happy Trading,

 

Luis

 

p.s. For those of you who like to use candlesticks, I also have a ShowMe version, which places a dot on the highs/lows...Let me know if there is interest.

TTM_SCALPER.ELD

[Soultrader 12]

Thank you very much for your contribution traderlu

[Reaver 10]

This may be a dense question: But what are the settings for this? What triggers the signals? Thanks, and good work by the way.

[Guest cooter]

For more info on how this indicator works, see this CBOT Online seminar by John Carter:

 

www.cbot.com/cbot/docs/71146.pdf

 

Here's a trading video on how Carter uses the indicator:

 

http://www.tradethemarkets.com/public/410.cfm?sd=61

 

Plus an explanation of the indicator by Carter here:

 

http://www.tradethemarkets.com/ttm11142006scalper.html

 

[glenbee 10]

Traderlu, thanks for the paint bar study. Could you also post the show me you mentioned?

[Reaver 10]

Thanks Cooter

[traderlu 10]

You are all very welcome Glad I could help.

 

Glenbee, I will be posting the ShowMe in a separate thread shortly.

 

As far as how the indicator actually works, John's description of "three higher closes" is a bit misleading. I disregarded this criteria in the code. It is merely based on swing highs/lows. I'll give an example for a Scalper Sell:

 

1. You get a high that's at least as high or higher than the previous two bars. This bar is a potential paintbar.

2. The next bar makes a lower high; The low of this bar is the trigger.

3. From here, if we do not make a higher high and we get a close below the trigger, we paint the swing high bar. Concept is simple but was a bit tricky to program (for me, at least).

 

By the way, I got this description from the following video:

http://www.tradethemarkets.com/products/item7.cfm

 

Hope it helps!

[daedalus 10]

I've been searching for this indicator for literally a month now. There are some similar .eld's floating around, but they are not identical to the Scalper indicator. Yours is. Thanks so much!!!

[mdb770 10]

Could you please post the source code so I could port it to Amibroker?

Thanks!

[traderlu 10]

Could you please post the source code so I could port it to Amibroker?

Thanks!

 

sure thing, here goes:

{Scalper Buys and Sells		7/18/2007
Written by Luis Gomez 
inspired by John Carters "Mastering the Trade"
}

inputs:
buyColor(white),
sellColor(white),
width(3);
variables:
highBarsAgo(1),
possibleHighBarsAgo(1),
possibleHigh(-2),
hightoBeat(-1),
barsSincePaint(1),
lowBarsAgo(1),
possibleLowBarsAgo(1),
possibleLow(10000001),
lowtoBeat(10000000),
triggerPriceSell(-1),
triggerPriceBuy(1000000),
trend(1),
_UP(1),
_DOWN(-1),
_ON(1),
_OFF(-1);


//***************************************************
//****** Find and plot the highest swing high *******
//***************************************************

if trend = _UP then begin
if swingHighBar(1,H,2,barsSincePaint+2) > -1 then begin
	possibleHighBarsAgo = swingHighBar(1,H,2,barsSincePaint+2);
	possibleHigh = H[possibleHighBarsAgo];
end;

if possibleHigh >= hightoBeat then begin
	highBarsAgo = possibleHighBarsAgo;
	hightoBeat = possibleHigh;
	triggerPriceSell = L[HighBarsAgo - 1];
end;

if C < triggerPriceSell and 
	highest(high,highBarsAgo) < hightoBeat then begin
	plotpb[highBarsAgo](H[highBarsAgo],L[highBarsAgo],"",sellColor);
	alert("Scalper Sell");
	trend = _DOWN;
	barsSincePaint = highBarsAgo-1;
	hightoBeat = -1;
	lowtoBeat = 10000000;
	triggerPriceBuy = 10000000;
	triggerPriceSell = -1;
	highBarsAgo = 1;
	possibleHigh = -2;
end;

end;

//***************************************************
//****** Find and plot the lowest swing low *********
//***************************************************

if trend = _DOWN then begin
if swingLowBar(1,L,2,barsSincePaint+2) > -1 then begin
	possibleLowBarsAgo = swingLowBar(1,L,2,barsSincePaint+2);
	possibleLow = L[possibleLowBarsAgo];
end;

if possibleLow <= lowtoBeat then begin
	lowBarsAgo = possibleLowBarsAgo;
	lowtoBeat = possibleLow;
	triggerPriceBuy = H[LowBarsAgo - 1];
end;

if C > triggerPriceBuy and 
lowest(L,lowBarsAgo) > lowtoBeat then begin
	plotpb[lowBarsAgo](H[lowBarsAgo],L[lowBarsAgo],"",buyColor);
	alert("Scalper Buy");
	trend = _UP;
	barsSincePaint = lowBarsAgo-1;
	possibleLow = 10000001;
	lowtoBeat = 10000000;
	hightoBeat = -1;
	triggerPriceBuy = 10000000;
	triggerPriceSell = -1;
	lowBarsAgo = 1;
end;		

end;

barsSincePaint = barsSincePaint+1;
if trend = _UP then highBarsAgo = highBarsAgo + 1;
if trend = _DOWN then lowBarsAgo = lowBarsAgo + 1;
setPlotWidth(1,width);

 

All I ask is that my name stay in the code, please. Thanks, and enjoy!

[dovetree 10]

Hi Trader Lu, Thanks for the code it works in 2000i with some modification. However, the white paint bar completely blots out the colour of the underlying heiken ashi colour (unlike your attached thubnail). I have tried changing the thickness of both the HA and scalper b/s but still get just a white bar.... any suggestions ?

 

Thanks

[Blu-Ray 10]

Hi Trader Lu, Thanks for the code it works in 2000i with some modification. However, the white paint bar completely blots out the colour of the underlying heiken ashi colour (unlike your attached thubnail). I have tried changing the thickness of both the HA and scalper b/s but still get just a white bar.... any suggestions ?

 

Thanks

 

Dovetree

 

Traderlu has also kindfully done it in a "show me" edition, shown here:

 

http://www.traderslaboratory.com/forums/f46/ttm-scalper-buys-sells-showme-edition-2127.html

 

Try transferring your code into a "Show me" indicator.

 

Cheers

 

Blu-Ray

[traderlu 10]

Hi Trader Lu, Thanks for the code it works in 2000i with some modification. However, the white paint bar completely blots out the colour of the underlying heiken ashi colour (unlike your attached thubnail). I have tried changing the thickness of both the HA and scalper b/s but still get just a white bar.... any suggestions ?

 

Thanks

 

Dovetree,

 

I have had that same problem. I think it has to do with the order in which you add the analysis techniques to your chart. Try adding the Heiken-Ashi first, then the Scalper, or vice-versa. I can't remember which was the right order. Just don't add them at the same time. This should do the trick. And don't forget the thickness! Hope this helps

 

-Luis

[Armand 10]

Hope I'm not out of line here...but I use Sierra charts and the code that they use is C++. Does anyone know how difficult is it to convert code like Traderlu posted to C++. Does anyone have experience doing this or are there any examples of how to convert TS code to C++? Thx

[jjthetrader 10]

Hi, the paintbar shown in the photos of this indicator with the blue and red bars, is there accompanying code for this?

[thrunner 10]

Hi, the paintbar shown in the photos of this indicator with the blue and red bars, is there accompanying code for this?

Those are the well known Heikin Ashii bars, http://www.traderslaboratory.com/forums/f46/heikin-ashi-trend-indicator-951.html

aka TTM trend borrowed/popularized by John Carter.

[bodhikamran 10]

i would like to know how to get scalper buy sell in efs as i use esignal

thanx

[btrader2 10]

Thanks Traderlu, I'm going to try it out.

[jjthetrader 10]

Thank you for the link. Much appreciated.

[jjthetrader 10]

i would like to know how to get scalper buy sell in efs as i use esignal

thanx

 

I would think you just translate the trade station code into esignal.

[bodhikamran 10]

i do not know where to start from.

do u?

[Guest cooter]

i do not know where to start from.

do u?

 

Yes.

 

Go here:

 

http://forum.esignalcentral.com/index.php

 

Use the search function.

 

Ask someone.

[jjthetrader 10]

i do not know where to start from.

do u?

 

There's a link on page two of this thread. The TradeStation code is posted there. To start I would have a look at it to get the logic behind the paintbar study. If you don't know any EasyLanguage then I'd take that code to a forum where people know esignal language. I personally don't because I can't stand esignal.

Good luck with your quest. I hope you find answers.

[marti 10]

thank you; I'd searched for something like this for ages

[ekinvestments18 10]

Traderlu,

 

Hi. Thanks for posting the TS code. I tried following the code, but I'm and esignal person so I don't get the small nuances of the code. I'm trying to convert this to esignal, but I keep getting confused by the rules. The video is also confusing as Carter keeps correcting himself and isn't clear.

 

1. You get a high that's at least as high or higher than the previous two bars. This bar is a potential paintbar.

Q- Is this 3 higher highs based on the close of each bar or just the highs of each bar?

 

2. The next bar makes a lower high; The low of this bar is the trigger.

Q - Same question as before, is this lower high based on the close of the trigger bar or the high of the trigger bar?

 

 

As far as how the indicator actually works, John's description of "three higher closes" is a bit misleading. I disregarded this criteria in the code. It is merely based on swing highs/lows. I'll give an example for a Scalper Sell:

 

1. You get a high that's at least as high or higher than the previous two bars. This bar is a potential paintbar.

2. The next bar makes a lower high; The low of this bar is the trigger.

3. From here, if we do not make a higher high and we get a close below the trigger, we paint the swing high bar. Concept is simple but was a bit tricky to program (for me, at least).

 

Thanks.

elliot