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.

Recommended Posts

Lateral Formation

 

 

Lateral Formation is a price pattern where

bar 2 and bar 3 are within the HL of the 1st bar.

 

The Lateral will continue until 2 consecutive closes outside of the

1st bar HL in the same direction.

 

for background discussions, please visit:

http://www.traderslaboratory.com/forums/f34/price-volume-relationship-6320.html

 

 

attachment.php?attachmentid=12961&stc=1&d=1250475713

 

 

note:

This EasyLanguage indicator was written in MultiCharts.

I have not tested it in TradeStation or other compatible programs.

Please refer to your users manual for importation instructions.

Lateral_Formation.thumb.jpg.cbe301861b5a15f4e9b1623c922eebf5.jpg

Lateral_Formation.txt

Share this post


Link to post
Share on other sites

Tams,

Here is some feedback:

 

Thanks!!!

2 possible improvements:

1. Should start drawing at close of 3rd bar.

2. Should be recursive since some laterals form inside laterals.

 

Also, any possibility that you have written a "2 pair" indicator? The TS range chart isn't very good. Let me know if you want info on "2 pairs" (JHM version of a tick chart). BTW it is in the threads.

 

THanks again

 

Let me know if I can help.

 

MK

Share this post


Link to post
Share on other sites
Tams,

Here is some feedback:

 

Thanks!!!

2 possible improvements:

1. Should start drawing at close of 3rd bar.

2. Should be recursive since some laterals form inside laterals.

 

 

Thanks for the feedback...

 

This indicator is still in beta.

Anyone up for a coding experience?

 

 

Also, any possibility that you have written a "2 pair" indicator? The TS range chart isn't very good. Let me know if you want info on "2 pairs" (JHM version of a tick chart). BTW it is in the threads.

 

THanks again

 

Let me know if I can help.

 

MK

 

 

You can start a new thread... we can make it a community project.

Edited by Tams

Share this post


Link to post
Share on other sites

thx for this indicator. ... :)

Put it on the charts the other day & looks good, as it sees the sideways channels & then can see where the breakup or breakdowns are,,,,so is good for day-trading the emini's, as I do. The only issue with itis, in the code, it prints back in time with all the lines, so when back testing I have to trun this indicator off.....is there a way to have it "print in the moment" & not back in time with longgggg lines? Since I am not a coder/geek type, do not have the mental resources to do it. Other than that, great indicator.....THX...... :)

 

ajax358

Share this post


Link to post
Share on other sites
thx for this indicator. ... :)

Put it on the charts the other day & looks good, as it sees the sideways channels & then can see where the breakup or breakdowns are,,,,so is good for day-trading the emini's, as I do. The only issue with itis, in the code, it prints back in time with all the lines, so when back testing I have to trun this indicator off.....is there a way to have it "print in the moment" & not back in time with longgggg lines? Since I am not a coder/geek type, do not have the mental resources to do it. Other than that, great indicator.....THX...... :)

 

ajax358

 

 

can you post your screen shot?

Share this post


Link to post
Share on other sites

Tams,

thx again....is a great indicator. I cannot post a chart pic, as my trading puter is the other puter, & keep them isolated for security reasons. I do not know how to post to another off site, as am limited geeky, but a wannabe..... :)

 

The issue I have with the charts, is that if I re-load the charts, or, say change a time frame & they re-load....then the lines for the 'lateral formations' go laterally 'backward' in time....back across the chart, so there then is a whole bunch of parallel lines as I scroll back on the chart....gets very eye messy is all.

 

Other than that, it works great & I use it for day trading ; use it for breakouts of the lateral range & have found that the 'SAR indicator' is generally poised at the end of one of the lines, & equals my entry point....so I stock the entry & hoover over it, then click & go.

 

Again, the only issue is that it prints the lines back in time & fills up the chart(s). Suspect that is a code issue, but have no skills here to address it. Thx again for a great indicator & if ya post an updated version beyond beta, I will load it immediately..... :)

 

ciao....ajax

Share this post


Link to post
Share on other sites
Thks, Tams but this indicator plots on tradestation 8.7 BUT, the lateral lines continue all the way across the screen, without stopping? Anyway to fix that??

 

 

Please give this a try.

I do not have TradeStation anymore, so I have not tested it.

 

89.75

Lateral_Formation_vb3.txt

Share this post


Link to post
Share on other sites
Thks, Tams but this indicator plots on tradestation 8.7 BUT, the lateral lines continue all the way across the screen, without stopping? Anyway to fix that??

 

 

I just looked at your chart again...

sorry, this indicator is for minute charts only.

Share this post


Link to post
Share on other sites

Tams.....just copied the #3 version to TS & made an indicator......loaded it on charts....at first, the tabs blinked out whe tried to click on them...then re-loaded the indicator, & it worked just fine!! The lines to the left, are now NOT across the charts now! So, thx there chum, for the update, as it works great now.

 

I use it on all my charts, then use my Stoch/MACD primary indicators as the lead in turns, then watch for the breakout of these "lateral formation" lines, & is a killer combo in tick charts day trading.

 

Thx again for the update..... :)

ajax358

Share this post


Link to post
Share on other sites
Tams.....just copied the #3 version to TS & made an indicator......loaded it on charts....at first, the tabs blinked out whe tried to click on them...then re-loaded the indicator, & it worked just fine!! The lines to the left, are now NOT across the charts now! So, thx there chum, for the update, as it works great now.

 

I use it on all my charts, then use my Stoch/MACD primary indicators as the lead in turns, then watch for the breakout of these "lateral formation" lines, & is a killer combo in tick charts day trading.

 

Thx again for the update..... :)

ajax358

 

 

thanks,

a screen shot is appreciated.

Share this post


Link to post
Share on other sites

Tams....FYI.....just finished day of trading...the new Lateral Formation'3' worked great!!!!....no hiccups & put lines on chart just like yours, & there was no lines 'all way back thru charts' as before.

So, this fix of yours worked for the "tick" charts. As you said, the indicator was made for "minute" charts....I checked minute charts with both LatFormation 2 & 3.....both were same & fine on minute charts. So, all is good & backtested & works on TradeSatation just fine for "#3" version.

 

I can't post charts, as the charts are on my other puter....& don't know how to post them as well.... not geeky enuff....but can backtest well.... ;)

 

Thx mucho.......ajax358.... :)

Share this post


Link to post
Share on other sites

Hi

Love your indicators---I'm trying to set-up Multicharts for Hershey trading. Can I color bars by close or do I need an indicator? what about volume?

You seem to be well versed in PricePhysics as well---which do do trade the most?

I've recently been looking at Bill's stuff again.

 

Thanks

Allen

Share this post


Link to post
Share on other sites
Hi

Love your indicators---I'm trying to set-up Multicharts for Hershey trading. Can I color bars by close or do I need an indicator?

don't understand what you mean.

 

what about volume?

what about it?

 

You seem to be well versed in PricePhysics as well---which do do trade the most?

I've recently been looking at Bill's stuff again.

 

Thanks

Allen

 

all systems/methods/indicators lead to the same thing...

Share this post


Link to post
Share on other sites
don't understand what you mean.

 

 

what about it?

 

 

 

Sorry---wasn't clear.

 

Do I need an indicator to color a price bar based on it's Close--ex. Green bar for a close higher than the previous, Red bar for a close that is lower

 

and Green volume bar for an Up close, Red bar for a Down close

 

or does Multicharts do this and I'm just missing what's right in front of me???

 

Thanks

Share this post


Link to post
Share on other sites
don't understand what you mean.

 

 

what about it?

 

 

 

Sorry---wasn't clear.

 

Do I need an indicator to color a price bar based on it's Close--ex. Green bar for a close higher than the previous, Red bar for a close that is lower

 

and Green volume bar for an Up close, Red bar for a Down close

 

or does Multicharts do this and I'm just missing what's right in front of me???

 

Thanks

 

anything that requires a logic, is performed by an indicator.

 

if you have just bought MultiCharts, I would suggest you to get the ebook

Getting Started with EasyLanguage

this is the book you need if you're thinking about using EasyLanguage but don't know where to start.

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.


  • Similar Content

  • Topics

  • Posts

    • Date: 22nd November 2024.   BTC flirts with $100K, Stocks higher, Eurozone PMI signals recession risk.   Asia & European Sessions:   Geopolitical risks are back in the spotlight on fears of escalation in the Ukraine-Russia after Russia reportedly used a new ICBM to retaliate against Ukraine’s use of US and UK made missiles to attack inside Russia. The markets continue to assess the election results as President-elect Trump fills in his cabinet choices, with the key Treasury Secretary spot still open. The Fed’s rate path continues to be debated with a -25 bp December cut seen as 50-50. Earnings season is coming to an end after mixed reports, though AI remains a major driver. Profit taking and rebalancing into year-end are adding to gyrations too. Wall Street rallied, led by the Dow’s 1.06% broadbased pop. The S&P500 advanced 0.53% and the NASDAQ inched up 0.03%. Asian stocks rose after  Nvidia’s rally. Nikkei added 1% to 38,415.32 after the Tokyo inflation data slowed to 2.3% in October from 2.5% in the prior month, reaching its lowest level since January. The rally was also supported by chip-related stocks tracked Nvidia. Overnight-indexed swaps indicate that it’s certain the Reserve Bank of New Zealand will cut its policy rate by 50 basis points on Nov. 27, with a 22% chance of a 75 basis points reduction. European stocks futures climbed even though German Q3 GDP growth revised down to 0.1% q/q from the 0.2% q/q reported initially. Cryptocurrency market has gained approximately $1 trillion since Trump’s victory in the Nov. 5 election. Recent announcement for the SEC boosted cryptos. Chair Gary Gensler will step down on January 20, the day Trump is set to be inaugurated. Gensler has pushed for more protections for crypto investors. MicroStrategy Inc.’s plans to accelerate purchases of the token, and the debut of options on US Bitcoin ETFs also support this rally. Trump’s transition team has begun discussions on the possibility of creating a new White House position focused on digital asset policy.     Financial Markets Performance: The US Dollar recovered overnight and closed at 107.00. Bitcoin currently at 99,300,  flirting with a run toward the 100,000 level. The EURUSD drifts below 1.05, the GBPUSD dips to June’s bottom at 1.2570, while USDJPY rebounded to 154.94. The AUDNZD spiked to 2-year highs amid speculation the RBNZ will cut the official cash rate by more than 50 bps next week. Oil surged 2.12% to $70.46. Gold spiked to 2,697 after escalation alerts between Russia and Ukraine. Heightened geopolitical tensions drove investors toward safe-haven assets. Gold has surged by 30% this year. Haven demand balanced out the pressure from a strong USD following mixed US labor data. Silver rose 0.9% to 31.38, while palladium increased by 0.9% to 1,040.85 per ounce. Platinum remained unchanged. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news. Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • A few trending stocks at support BAM MNKD RBBN at https://stockconsultant.com/?MNKD
    • BMBL Bumble stock watch, pull back to 7.94 support area with high trade quality at https://stockconsultant.com/?BMBL
    • LUMN Lumen Technologies stock watch, pull back to 7.43 support area with bullish indicators at https://stockconsultant.com/?LUMN
×
×
  • Create New...

Important Information

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