Range Breakout Indi

[nab999 10]

Hi All,

 

I coded the following indicator as a paint bar in easy language for use on forex intraday markets.

 

What I am trying to get to is an indicator that will paint bars when they are in a narrow range, then look to trade a breakout of that range, i.e. when the white bars no longer plot.

 

I though I would post it here for anyone that maybe able to make use of it and also to see if anyone knows of a better indicator than this for showing a range that can then be used for trading a breakout.

 

Someone suggested an intraday Darvas Box would be better... I have searched for EL code for this, but am not able to find it.

 

Any views as to a better indi.....

 

Many thanks.

RBF.ELD

[Tams 20]

if you superimpose a Bollinger Band on it....

or Kelter Channel...

or any kinds of channel...

 

you might see new light.

 

;-)

[tshirtdeal 10]

I am in need of this indicator for Ninjatrader, thanks for any help!

[jojojo 10]

Here is a Darvas Box.There is drawbox and drawline function inside .Maybe you can use this for construct your congestion box.

regs

Jojo

DARVASBOX.ELD

[nab999 10]

many thanks for that jojojo

[zdo 20]

better indicator than this for showing a range that can then be used for trading a breakout.

 

Have you checked Tom Demark's breakout setup's?

Would post them but don't remember them... can dig them up if you can't find them...

They might be too 'wide' for fx and / or your purposes...

[DugDug 10]

Buy the book Demark Indicators by Jason Perl - can be found on the bloomberg website.

- if you (like I) dont have Bloomberg - which they now have a whole demark indicator section - very good. Everything is explained there.

 

To replicate a lot of his indicators would seem pretty difficult, but there are some good ideas, and some things that can be reasonably easily done - Plus his are not systems - just indicators.

[aaa 10]

some info about Darvas

 

Darvas Box Theory - Home

 

What Does Darvas Box Theory Mean?

A trading strategy that was developed in 1956 by former ballroom dancer Nicolas Darvas. Darvas' trading technique involved buying into stocks that were trading at new 52-week highs with correspondingly high volumes.

 

A Darvas box is created when the price of a stock rises above the previous 52-week high, but then falls back to a price not far from that high. If the price falls too much, it can be a signal of a false breakout, otherwise the lower price is used as the bottom of the box and the high as the top. Investopedia explains Darvas Box Theory

In 1956, Darvas was able to turn an investment of $10,000 into $2 million over an 18-month period. While traveling for his dancing, Darvas would obtain copies of The Wall Street Journal and Barron's, but he would only look at the stock prices to make his decisions. It has been said that Darvas was less happy about the profits that he made than he was about the ease and peace of mind that he got from implementing his system.

 

Skeptics of Darvas' technique attribute his success to the fact that he was trading in a very bullish market. They also say that returns comparable to the ones he saw can't be attained if this technique is used in a bear market.

[alexbdi 10]

Hi,

 

I am a new user of Tradestation. I get the following error when trying to add this indicator to RadarScreen:

 

Unable to add the analysis technique: DarvasBox. Study does not contain plot information.

 

 

When adding the indicator to the graph it works just fine. Only issue i have is with RadarScreen.

 

If anyone can help please let me know.

Thank you in advance.