Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

jjthetrader

REQ Help with Trend Indicator

Recommended Posts

Hi all, I'm trying to recreate an indicator for TradeStation from a program I have called tradeguider. They call it 'the diamond indicator' which is basically a moving average. That much I can handle. But the 'diamonds' change colour signaling a change in short term trend. Red is a downtrend, white signals a possible reversal and green is up.

I was just wondering if anyone knew the criteria for this change? It appears to be some kind of crossover signal but the folks at tradeguider say that's not it.

If anyone has any theories I'd love to hear them. If not, thank you for your time.

 

 

 

diamonds.jpg

 

This guy seems to have ripped it off nicely at hawkeyetraders:

HawkeyeTK.gif

Share this post


Link to post
Share on other sites

jj

 

If you've got the program, try and see if can edit the indicator, so it displays the formula.

 

If you can do that, post it here or PM me and I'll have a go.

 

Cheers

 

Blu-Ray

Share this post


Link to post
Share on other sites

Hi, it's built right into the program so I can't see anything. I can overlay a moving average and that seems to be what it follows but I'm looking for it's color changing criteria cause they seem to be pretty accurate.

 

I tried If Close < Avg then red and the same for green but this only matches up about 80%. It's the white ones I'm interested in because they are supposed to be "possible trend reversal".

 

I could just use tradeguider but I like having everything in Tradestation to keep it all in one window and to be able to incorporate into a strategy if I feel inclined.

 

I thought maybe someone on this forum might have some experience with tradeguider and know it's ins and outs.

 

Thanks

JJ

Share this post


Link to post
Share on other sites
I could just use tradeguider but I like having everything in Tradestation to keep it all in one window and to be able to incorporate into a strategy if I feel inclined.

 

 

Thanks

JJ

 

Yeh I know what you mean as I feel the same when trying different platforms, it might be worth shooting them an email asking if they could explain how it works.

 

 

Cheers

 

Blu-Ray

Share this post


Link to post
Share on other sites

For anyone who cares, the solution to this dilema I posted is just the location of the open and close in relation to a very short moving average and in relation to that same relationship one day ago. If you look at the pics above you will see this.

So trageguider is correct that it's not a crossover system.

I haven't coded it out yet but I can see the logic now.

Share this post


Link to post
Share on other sites

I only found my basic 'diamond indicator' but I will explain to you what you need to do in order to complete it.

 

Here's it's basic background. TGuider uses a 5 period MA as it's default. You can change this for quicker responses in immediate trend changes.

 

Logic:

If Price closes below the MA a red dot will paint in TSation.

If Price closes above the MA a green dot will paint.

 

That's the basis of it. But there is a little twist that gives you the warning of a possible trend change and that is the white diamond.

Here's how the white diamond works. You'll have to code this part in but not to worry it's very simple.

 

If you're in a downtrend, closing below the MA then all of a sudden you get a close above the MA, that would paint you a white diamond. If price then reversed and closed below the MA on the following bar, this would also be a white diamond.

 

In order for either the red or green dot to paint, it will need to be the second close on that side of the MA since the first will be white.

 

Are you following? Good.

 

It's as simple as that. Here's the basic code for just red and green dots. You'll have to put in the extra conditions for the white (possible change in trend coming) dots.

 

inputs: Price( Close ), Length( 4 ), Displace( 0 ) ;

variables: Avg( 0 ) ;

 

Avg = AverageFC( Price, Length ) ;

 

if Displace >= 0 or CurrentBar > AbsValue( Displace ) then

begin

 

If Close < Avg then

begin

Plot1( Avg , "Avg", Red );

end

else

begin

Plot1 (Avg , "Avg", Green);

end;

 

 

 

 

 

{ Alert criteria }

if Displace <= 0 then

begin

if Price crosses over Avg then

Alert( "Price crossing over average" )

else if Price crosses under Avg then

Alert( "Price crossing under average" ) ;

end ;

end ;

 

Good Luck!

Share this post


Link to post
Share on other sites

Blu-Ray, that's awesome! Thanks for coding it up for everyone.

Crosses are what I preferred as well.

 

TGuider also has an intermediary trending system. It's based on volatility bands. If you close above the bands your bars turn green, below the bands they turn red. You match this sytem up with your diamonds and you've got a clear trend direction. I haven't spent a lot of time trying to reproduce them because I do most of my trading now with TGuider and less with TrdeStation.

Share this post


Link to post
Share on other sites
hi

Is it possible to have the code in txt format for ts2000i

 

Thanks a lot

 

 

Here you go:

 

 

inputs: Price( Close ), Length( 5 ),Upcolor( DarkGreen),DnColor ( DarkRed),NColor(White) ;
variables: Avg( 0 ) ;

Avg = AverageFC( Price, Length ) ;

Condition1 = close[1] > avg[1] and close > avg;
Condition2 = close[1] < avg[1] and close < avg;

plot1(avg,"avg");

if close crosses above avg then setplotcolor(1,NColor);
if condition1 then setplotcolor (1,upcolor);
if close crosses below avg then setplotcolor(1,NColor);
if condition2 then setplotcolor (1,dncolor);

 

Hope this helps

 

Blu-Ray

Share this post


Link to post
Share on other sites

I Think there's more to it than that. Just after 9.30 there are 2 white despite 2 closes below. 11.30 & 12.15 you get red to green and green to red with no white. Have I missed something?

 

Cheers.

Share this post


Link to post
Share on other sites
AHh I think I see what's missing!

 

If the MA goes from down to up then it goes red to green immediately. If it is still down but close is above then it will go white.

 

 

Yes I think that's it, I'll recode it up tomorrow

 

Cheers

 

Blu-Ray

Share this post


Link to post
Share on other sites

Here's a revised version, using BlowFish's observations, I've compared it with the original picture JJ posted at the start of the thread. It's very close to Traderguiders version using, as you can see on the charts below, there are 3 rogue dots. So the code might not be exact, but this could be down to different platforms handling different data.

 

attachment.php?attachmentid=4268&stc=1&d=1196423295

 

attachment.php?attachmentid=4267&stc=1&d=1196422684

 

 

Here's the code for it.

 

inputs: Price( Close ), Length( 5 ),Upcolor( DarkGreen),DnColor ( DarkRed),NColor(White) ;
variables: Avg( 0 ) ;

Avg = average( Price, Length ) ;

Condition1 = Close >= avg and avg >= avg[1]; { Green Dots }
Condition2 = Close < avg and avg > avg[1]; { White Dots }
Condition3 = Close <= avg and avg <= avg[1]; { Red Dots }
Condition4 = Close > avg and avg < avg [1]; {White Dots }

plot1(avg,"avg");

if Condition1 then setplotcolor (1,Upcolor);
if Condition2 then setplotcolor (1,Ncolor);
if Condition3 then setplotcolor (1,Dncolor);
if Condition4 then setplotcolor (1,Ncolor);


 

Hope this helps

 

Blu-Ray

jjes.png.104767113a0277db76936899d58fb9db.png

myes.thumb.png.4f6f85b57aa41bb285b1c47ea8c03513.png

Diamond_Trend.ELD

Share this post


Link to post
Share on other sites

hi guys...

 

I have been working on something similar so thought I would chime in...

 

rather than have the indicator follow price as in a close relative to a moving average, personally I find it more useful to compute a price in advance that signals a 'reversal' if touched. Thus you can see a 'mechanical trigger point' in advance rather than having to wait for a bar to close. I realize this is really only a minor difference in what you are doing but thought I would throw this in anyway.

 

Linda Rashke just did a presentation using her own indicator here:

https://lbrgroup.com/images//BloombergChicagoNovember2007/bloomberg.pdf

 

her indicator paints the bar depending on where the current bar closes relative to the trailing 16 bar high/low. thus, if in a downtrend -- the bar would be red and switch to green on any close that is above the 16-bar low +2.5 avgtruerange's --- she uses: avgtruerange(9), btw.

 

I have played around these settings and like 1.5 true ranges better and like computing a price in advance rather than waiting for the bar close -- you can use buy and sell stops to enter when you have the computed price in advance.

 

Here is an example:

 

attachment.php?attachmentid=4270&stc=1&d=1196428541

5aa70e2642c4e_Nov26P-SARATR.thumb.png.73fe538c86902ad57d6c2d9a44b95628.png

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • NFLX Netflix stock, with a solid top of range breakout, from Stocks to Watch at https://stockconsultant.com/?NFLX  
    • NFLX Netflix stock, with a solid top of range breakout, from Stocks to Watch at https://stockconsultant.com/?NFLX  
    • It depends. If you have lots of money that you can buy a house without a loan and if you don't have any parents to sponsor then it is a good idea. Otherwise it might be a bad idea depending where in Canada you are heading to. I earned a good middle income in my home country and I migrated to Vancouver 5 years ago at the age of 35. I had to start right from the bottom, lowest of the low.. Now i am finally earning a middle income in Canada but I still cannot afford to buy a one bedroom apartment. Having left behind friends, family and home, most of the times I think it is not worth it.   In short, do not migrate if you already have a good life in your home country and you are happy. Only migrate to Canada if you really have to leave your home country say there is a war or something really bad. Discrimination still exists here and its really tough for newcomers unless you are super rich. Good luck. David Chong, Quora  
    • This is bigger than the internet. Bigger than mobile. Bigger than social media.   While everyone was distracted by stock market fluctuations and political theater…   Most people have NO IDEA what just happened last week with ChatGPT.   Their new memory feature allows ChatGPT to remember EVERYTHING about you across all your conversations.   Think about that for a minute...   While most tech companies have been collecting mere breadcrumbs about you - your likes, your clicks, your browsing history - OpenAI is now collecting the most valuable dataset in human history: your complete psychological profile.   This is Zuckerberg x 5,000.   The more you use ChatGPT, the more it understands you, becoming a supercharged reflection of yourself that improves at an exponential rate.   Are you a regular ChatGPT user?   Consider whether it’s time to turn off the “you can train on my information” feature. To prevent your data from being used for training while still using the memory feature:   Disable Model Training: Navigate to Settings > Data Controls. Toggle off "Improve the model for everyone". Manage Memory Settings: Go to Settings > Personalization > Memory. Here, you can: Turn off memory entirely. Delete specific memories. Use Temporary Chat for sessions that won't be saved or used for training. Now the investment implications…   Why This is Bigger Than You Think Consider this: the relationship between humans and ChatGPT is evolving beyond a mere tool.   People are now treating these AI assistants as friends, confidants, and even romantic partners.   I'm not making this up - there are already documented cases of people ending real human relationships to pursue “connections” with their AI companions.   A viral Instagram meme shows a person going through life with a glowing, featureless humanoid figure - representing ChatGPT - as their companion.   The post has over 1.1 million likes and comments like "Bro ChatGPT is like my best friend. Ain't even ashamed to say it" with 25,000 likes.   But here's where things get really interesting for investors and entrepreneurs...   Three Things to Watch For starters, hardware is the next big thing for the big players.   The iPhone form factor is dead.   It hasn't meaningfully changed in nearly a decade. The next evolution in hardware will be designed specifically to interface with these AI companions.   OpenAI is already working on hardware with Johnny Ive, the legendary designer behind the iPhone and iPod. But you can’t ignore Elon Musk’s edge here.   So what does all of this mean for you?   The companies that control the personal AI relationships will be worth trillions. OpenAI and Elon Musk will have the coziest moats. We're witnessing the birth of a new internet - one built on agents that can communicate with each other across platforms. Google's new agent-to-agent protocol allows AI agents to work together without sharing internal memories or tools. The hardware companies that create the perfect interface for these AI companions will dominate the next decade of technology. And almost nobody is talking about what this means.   My prediction? Within five years, most people will have a personal AI that knows them better than anyone else. And they will interact with it in ways that seem foreign today.   (And, yes, it will almost certainly have dystopian elements.)   In the meantime, the biggest gains won’t come from household names. And, right now, James is seeing a prime opportunity to invest in the most under-the-radar plays in AI…   For dirt cheap. By Chris C. Source: https://altucherconfidential.com/posts/use-chatgpt-protect-yourself-now
    • KBH KB Home stock, nice day and rally off the 50.82 support area, from Stocks to Watch at https://stockconsultant.com/?KBH      
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.