Trend Indicator Paintbar

[Squire69 10]

I am looking for a Paintbar ELD for Tradestation that uses three colors to identify an up trend, down trend and trendless market. I have only been able to find something listed on Jan Arp's website, and I have been unsuccessful in writing my own code. Any one who could point a newbie with code writing for tradestation in the right direction I would greatly appreciate it. Thank you.

[sevensa 10]

What is your definition of an uptrend, downtrend and trendless market?

[Squire69 10]

A consecutive number of higher highs and higer lows would be a uptrend and the reverse for a downtrend. As far as how to plot it mathematically I was trying things like a MA crossover for the trend and Bollinger Bands and Keltner Channels to determine "No" trend" like in the squeeze indicator, or 3-SMA of the Pivot and a 5-SMA of the close. Like I mentioned above I was never able to get anything to work and I thought one of the "smarter" people who review this site might have this figured it out already. Thanks for your interest Sevensa...

[sevensa 10]

Oh, so you don't actually just want some coding help, you also want someone to give you a definition for uptrend/downtrend and then code it for you?

[brownsfan019 17]

So all you need is an indicator that tells you when there's a trend forming and when it's going to chop?

 

That's easy but not sure how to post the code here, so I can't help. Sorry.

 

[Squire69 10]

Oh, so you don't actually just want some coding help, you also want someone to give you a definition for uptrend/downtrend and then code it for you?[/quote

 

Actually, that would be great. I know the end result that I am looking for, but as I mentioned already, I don't now how to create it. I have been coming to this site for three weeks and I have seen other people post things they wanted yet did not have the "know how" to get done, and some one helped them get it. If am in error on this then I apologize and I'll go buy the indicator that Jan Arp's is peddling. Thanks anyway.

[trader273 10]

Why don't you post your actually rules for trend and actual rules for chop. That way someone can actually help you.

 

 

...As far as how to plot it mathematically I was trying things like a MA crossover for the trend and Bollinger Bands and Keltner Channels to determine "No" trend" like in the squeeze indicator, or 3-SMA of the Pivot and a 5-SMA of the close. Like I mentioned above I was never able to get anything to work and I thought one of the "smarter" people who review this site might have this figured it out already. Thanks for your interest Sevensa...

 

That wont cut it. You are asking for the code, not for help on the code. Not sure really what you expected here? Just for someone to hand you a file???

[Squire69 10]

What I envisioned was a paintbar that was userdefined for a MA Crossover. That could be used to define the trend. It would paint the uptrend one color and the the down trend another. Then something using the bollinger bands and the keltner challege crossing to define the trendless market. That would paint the bars a third color.

 

As far as someone handing me a file goes... I thought someone might have this figured out already and they would want to post it because I thought it would be of interest to more then just me. I have seen it happen many times on this site, so I created this thread. I have never posted on a site before, so perhaps I am in error in some protocol. I thought this was a good idea that many people would benefit from; it was not my intention to offend anyone.

[trader273 10]

What I envisioned was a paintbar that was userdefined for a MA Crossover. That could be used to define the trend. It would paint the uptrend one color and the the down trend another.

 

Now thats pretty good.

 

Then something using the bollinger bands and the keltner challege crossing to define the trendless market. That would paint the bars a third color.

 

That's way too vague for anyone to help you.

 

Have you tried to write any of this yourself? When I used TS/MC I pretty much taught myself. Once you find some examples, its actually pretty easy. Why dont you start with that, and then post the code you come up with, so people can help you. There are a lot of post on the TS forums where you could find some similar things of what you want to do.

 

This site is very helpful, but to ask someone to just do the whole thing for free is a little far fetched. Give it a try yourself, experiment. I think you will be amazed how much you can really accomplish yourself using EL.

[Squire69 10]

This is the code I have been expirementing with and the only part that seems to work. Anything I have tried to add for a third color for a "trendless market" has failed.

 

inputs:

Price( Close),

FastLength( 9),

SlowLength( 16),

UpColor( Green),

DnColor( Red) ;

 

variables:

FastAvg( 0 ),

SlowAvg( 0 ) ;

 

FastAvg = Average( Price, FastLength ) ;

SlowAvg = Average( Price, SlowLength ) ;

 

if FastAvg > SlowAvg then

begin

PlotPaintBar( High, Low, "MACross", UpColor ) ;

Alert( "FastAvg above SlowAvg" ) ;

end

else if FastAvg < SlowAvg then

begin

PlotPaintBar( High, Low, "MACross", DnColor ) ;

Alert( "FastAvg below SlowAvg" ) ;

end

else

NoPlot( 1 ) ; { unpaint the bar }

[sevensa 10]

To keep things simple, how about using three moving averages? Short, Medium, Long.

 

When Short > Medium > Long: Downtrend

When Short < Medium < Long: DownTrend

 

When neither of the above is true: No Trend.

[brownsfan019 17]

It might be wise to do some reading on different forums, blogs, etc. about how moving averages work in identifying trends. The short of it is that they will nail the big move days but while you are attempting to avoid the chop, it may not be that easy. While trying to build your code, look at some charts and see how they look. Feel free to post screenshots here and some of us can provide feedback.

[Bolimomo 10]

To keep things simple, how about using three moving averages? Short, Medium, Long.

 

When Short > Medium > Long: Downtrend

When Short < Medium < Long: DownTrend

 

When neither of the above is true: No Trend.

 

I have taken this above suggestion and modified Squire69's code a little bit to include a Yellow color for "no trend". I have compared my version to the TradeTheMarket's TTMTrend and I like my version better.

 

For those who maybe interested (see below).

 

I am also wanting to find some kind of indication that the trend may be extrended and paint it with a different color (one for up, one for down). Any idea what might be used?

 

 

= = = = = = = = = = =

 

 

inputs:

Price( Close ),

FastLength( 9 ),

MidLength( 12 ),

SlowLength( 16 ),

UpColor( Green ),

NoTrendColor( Yellow ),

DnColor( Red );

 

variables:

FastAvg( 0 ),

MidAvg( 0 ),

SlowAvg( 0 ) ;

 

FastAvg = Average( Price, FastLength ) ;

MidAvg = Average( Price, MidLength ) ;

SlowAvg = Average( Price, SlowLength ) ;

 

 

if (FastAvg > MidAvg) and (MidAvg > SlowAvg) then

begin

PlotPaintBar( High, Low, "MACross", UpColor ) ; // This is Uptrend

Alert( "FastAvg above SlowAvg" ) ;

end

else if (FastAvg < MidAvg) and (MidAvg < SlowAvg) then

begin

PlotPaintBar( High, Low, "MACross", DnColor ) ; // This is Downtrend

Alert( "FastAvg below SlowAvg" ) ;

end

else

PlotPaintBar( High, Low, "MACross", NoTrendColor) ; // This is No trend