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Eric Johnson

Technical Indicator Tools

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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.zipFetching info...

5aa70ea412014_freedomtrain.jpg.5d93802c8631c84498f65a4ba94c9acf.jpg

Edited by Soultrader

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does the BB Squeeze work on Esignal? i loaded the code and all i get is a line 12 syntaxerror missing: before statement: NormalColor (Red) , AlertCol or(Blue) ,

 

any advice on how to fix this?

 

jim

 

Edit/Delete Message

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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.zipFetching info...

Edited by Soultrader

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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.

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eric,

 

i think you sent this email to the wrong person? i think you meant ephi144...

i think your indicators are great wish i could use them... i sue esignal and all your codes are for TS...

 

jim

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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

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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.

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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.

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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.zipFetching info...

5aa70f443aba8_qtupdategif.thumb.gif.f8ce08e7d7801e73cb208a14fb8b14c6.gif

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