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.

lonew0lf

Negative/Reverse Divergence

By lonew0lf, in Trading Indicators

Recommended Posts

lonew0lf    10

lonew0lf
Posted

Following on the great work done by aaa on the divergence indicator; I wanted to know if someone could potentially help in creating an indicator which shows negative or reverse divergence.

 

The attached indicator is a slight tweak from aaa's, and shows regular divergence only. The attached images show the negative divergence.

 

 

// StochRSI Divergence TrendLine
// Author: MARKPLEX
// http://markplex.com/tutorial4.php
// version: 1.0

// Author: aaa
// version: 2.0
// Date: 20091129
// added: 
// divergence on top +
// Line.Color.Top + Line.Color.Bot + Line.Size + Plot.Sto in inputs

//----------------------------------------------------
inputs:
//----------------------------------------------------


RSILength(9),
StochLength(18),
KLength(6),
DLength(3),
OverSold(20),
OverBought(80),
Length(20),
LeftStrength(3),
RightStrength(3),
Line.Color.Top(yellow),
Line.Color.Bot(white),
Line.Size(2),
Plot.stochrsi(1),
AlertOn.Off(1);

//---------------------------------------------------- 
variables:
//----------------------------------------------------

DToscK(0), 
DToscD(0),

oPivotPrice1(0),
oPivotBar1(0),
oPivotPrice2(0),
oPivotBar2(0),

oPivotPrice11(0),
oPivotBar11(0),
oPivotPrice12(0),
oPivotBar12(0);

value1 = FastKCustomEasy(RSI(C, RSILength),StochLength);
DToscK =  average(value1,KLength);
DToscD = average(DToscK,DLength);

Condition1 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, -1, oPivotPrice1, oPivotBar1 ) <> -1 
	AND ( oPivotBar1 - RightStrength ) = 0 ;

Condition11 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, 1, oPivotPrice11, oPivotBar11 ) <> -1 
	AND ( oPivotBar11 - RightStrength ) = 0 ;

Condition2 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, -1, oPivotPrice2, oPivotBar2 ) <> -1;

Condition12 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, 1, oPivotPrice12, oPivotBar12 ) <> -1;

If 
	Condition1 and Condition2 // added condition2 = referecne future data
	AND L[oPivotBar2] >= L[oPivotBar1] 
	AND DToscK[oPivotBar2] < DToscK[oPivotBar1] then 
Begin
	Value2 = TL_New(D[oPivotBar2], T[oPivotBar2], L[oPivotBar2], D[oPivotBar1], T[oPivotBar1], L[oPivotBar1]); 
	TL_SetColor( Value2, Line.Color.Bot );
	TL_SetSize(  Value2, Line.Size  );
		if AlertOn.Off <> 0 then
			Alert( "Divergence in Bottom" );
End;

If 
	Condition11 and Condition12 // added condition12  referecne future data
	AND H[oPivotBar12] <= H[oPivotBar11] 
	AND DToscK[oPivotBar12] > DToscK[oPivotBar11] then 
Begin
	Value12 = TL_New(D[oPivotBar12], T[oPivotBar12], H[oPivotBar12], D[oPivotBar11], T[oPivotBar11], H[oPivotBar11]); 
	TL_SetColor( Value12, Line.Color.Top );
	TL_SetSize(  Value12, Line.Size  );
		if AlertOn.Off <> 0 then
			Alert( "Divergence in Top" );

End;

condition3 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, -1, oPivotPrice1, oPivotBar1 ) <> -1 
	AND ( oPivotBar1 - RightStrength ) = 0 ;

condition32 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, 1, oPivotPrice11, oPivotBar11 ) <> -1 
	AND ( oPivotBar11 - RightStrength ) = 0 ;

condition4 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, -1, oPivotPrice2, oPivotBar2 ) <> -1;

condition42 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, 1, oPivotPrice12, oPivotBar12 ) <> -1;

If 
	Condition3 and condition4 
	AND L[oPivotBar2] >= L[oPivotBar1] 
	AND DToscK[oPivotBar2] < DToscK[oPivotBar1] then 
Begin
	Value2 = TL_New_SELF(D[oPivotBar2], T[oPivotBar2], DToscK[oPivotBar2], D[oPivotBar1], T[oPivotBar1], DToscK[oPivotBar1]); 
	TL_SetColor( Value2, Line.Color.Bot );
	TL_SetSize(  Value2, Line.Size  );
End;

If 
	Condition32 and Condition42
	AND H[oPivotBar12] <= H[oPivotBar11] 
	AND DToscK[oPivotBar12] > DToscK[oPivotBar11] then 
Begin
	Value12 = TL_New_SELF(D[oPivotBar12], T[oPivotBar12], DToscK[oPivotBar12], D[oPivotBar11], T[oPivotBar11], DToscK[oPivotBar11]); 
	TL_SetColor( Value12, Line.Color.Top );
	TL_SetSize(  Value12, Line.Size  );
End;

Plot1( DToscK, "stochrsi",      blue );
plot2( 20,    "oversold", white);
plot3(80, "overbought", white);

5aa7100ba58bd_audusdhiddendivergence.gif.bda952cf2c1cef24c8029a347981205e.gif

5aa7100baa5a4_esintradaydivergence.gif.e6076b6dba70ea993f64de0f9fd98dca.gif

hidden-bearish-divergence-blue.png.e923dda9cd66a08f700852c5adeaca77.png

hidden-bullish-divergence-blue.png.3daad3c8864fa0c08d6335b24e0e74a2.png

Share this post

Link to post
Share on other sites

aaa    10

aaa
Posted (edited)

Hi

 

Following on the great work done by aaa on the divergence indicator;

 

First of all thank you very much for the kind words,

 

but I've done nothing =

 

it is a 100% code from one of Martyn Whittaker' Xcellent 46 free tutorial

 

martyn.whittaker@markplex.com

 

***********

 

His site is a real gold mine 2 learn EL

 

http://markplex.com/tutorials.php

 

 

 
If 
[u]Condition1[/u] and 
[u]Condition2[/u] AND
L[oPivotBar2] [b][u]>=[/u][/b] L[oPivotBar1]  AND 
DToscK[oPivotBar2] [b][u]<[/u][/b] DToscK[oPivotBar1] 
then 
Value2 = TL_New(D[oPivotBar2], T[oPivotBar2],[b][u] L[oPivotBar2[/u][/b]], D[oPivotBar1], T[oPivotBar1], [u][b]L[oPivotBar1[/b][/u]]);

 

 

Have U tried 2 "reverse" the code or anything else ?

 

When we post our personnal work ( even tho if it doesn't work ),

 

and if there is a solution,

 

they is always a kind coder 2 help us here.

 

rgds

Edited by aaa

Share this post

Link to post
Share on other sites

lonew0lf    10

lonew0lf
Posted

aaa - i initially tried the inverse but all that did was kick off errors. I finally got this one to work.

 

// StochRSI Divergence TrendLine
// Author: MARKPLEX
// http://markplex.com/tutorial4.php
// version: 1.0

// Author: aaa
// version: 2.0
// Date: 20091129
// added: 
// divergence on top +
// Line.Color.Top + Line.Color.Bot + Line.Size + Plot.Sto in inputs

//----------------------------------------------------
inputs:
//----------------------------------------------------


RSILength(9),
StochLength(18),
KLength(6),
DLength(3),
OverSold(20),
OverBought(80),
Length(20),
LeftStrength(3),
RightStrength(3),
Line.Color.Top(yellow),
Line.Color.Bot(white),
Line.Size(2),
Plot.stochrsi(1),
AlertOn.Off(1);

//---------------------------------------------------- 
variables:
//----------------------------------------------------

DToscK(0), 
DToscD(0),

oPivotPrice1(0),
oPivotBar1(0),
oPivotPrice2(0),
oPivotBar2(0),

oPivotPrice11(0),
oPivotBar11(0),
oPivotPrice12(0),
oPivotBar12(0);

value1 = FastKCustomEasy(RSI(C, RSILength),StochLength);
DToscK =  average(value1,KLength);
DToscD = average(DToscK,DLength);

Condition1 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, -1, oPivotPrice1, oPivotBar1 ) <> -1 
	AND ( oPivotBar1 - RightStrength ) = 0 ;

Condition11 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, 1, oPivotPrice11, oPivotBar11 ) <> -1 
	AND ( oPivotBar11 - RightStrength ) = 0 ;

Condition2 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, -1, oPivotPrice2, oPivotBar2 ) <> -1;

Condition12 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, 1, oPivotPrice12, oPivotBar12 ) <> -1;

If 
	Condition1 and Condition2 // added condition2 = referecne future data
	AND L[oPivotBar1] >= L[oPivotBar2] 
	AND DToscK[oPivotBar2] > DToscK[oPivotBar1] then 
Begin
	Value2 = TL_New(D[oPivotBar2], T[oPivotBar2], L[oPivotBar2], D[oPivotBar1], T[oPivotBar1], L[oPivotBar1]); 
	TL_SetColor( Value2, Line.Color.Bot );
	TL_SetSize(  Value2, Line.Size  );
		if AlertOn.Off <> 0 then
			Alert( "Hid Div Bottom" );
End;

If 
	Condition11 and Condition12 // added condition12  referecne future data
	AND H[oPivotBar11] <= H[oPivotBar12] 
	AND DToscK[oPivotBar11] > DToscK[oPivotBar12] then 
Begin
	Value12 = TL_New(D[oPivotBar12], T[oPivotBar12], H[oPivotBar12], D[oPivotBar11], T[oPivotBar11], H[oPivotBar11]); 
	TL_SetColor( Value12, Line.Color.Top );
	TL_SetSize(  Value12, Line.Size  );
		if AlertOn.Off <> 0 then
			Alert( "Hid Div Top" );
End;

condition3 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, -1, oPivotPrice1, oPivotBar1 ) <> -1 
	AND ( oPivotBar1 - RightStrength ) = 0 ;

condition32 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, 1, oPivotPrice11, oPivotBar11 ) <> -1 
	AND ( oPivotBar11 - RightStrength ) = 0 ;

condition4 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, -1, oPivotPrice2, oPivotBar2 ) <> -1;

condition42 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, 1, oPivotPrice12, oPivotBar12 ) <> -1;

If 
	Condition3 and condition4 
	AND L[oPivotBar1] >= L[oPivotBar2] 
	AND DToscK[oPivotBar2] > DToscK[oPivotBar1] then 
Begin
	Value2 = TL_New_SELF(D[oPivotBar2], T[oPivotBar2], DToscK[oPivotBar2], D[oPivotBar1], T[oPivotBar1], DToscK[oPivotBar1]); 
	TL_SetColor( Value2, Line.Color.Bot );
	TL_SetSize(  Value2, Line.Size  );
End;

If 
	Condition32 and Condition42
	AND H[oPivotBar11] <= H[oPivotBar12] 
	AND DToscK[oPivotBar11] > DToscK[oPivotBar12] then 
Begin
	Value12 = TL_New_SELF(D[oPivotBar12], T[oPivotBar12], DToscK[oPivotBar12], D[oPivotBar11], T[oPivotBar11], DToscK[oPivotBar11]); 
	TL_SetColor( Value12, Line.Color.Top );
	TL_SetSize(  Value12, Line.Size  );
End;

Plot1( DToscK, "stochrsi",      blue );
plot2( 20,    "oversold", white);
plot3(80, "overbought", white);

Share this post

Link to post
Share on other sites

aaa    10

aaa
Posted (edited)

Hi LoneWolf

 

The solution was hidden in my suggestion ( HeHeHe !!)

and U've made good homework

 

*****************

 

I will not post any more Div indic than Sto + Rsi + MACD

 

In fact I try 2 trade with the trend, not against it.

 

Below is the Martyn Whittaker' logic of divergence

Everybody can easily apply it 2 any kind of indicators in 3 steps

 

1 Copy the entire Divergence code 2 your new div TrendLine indicator

2 Put the code of your preferate indicator in My.Indicator variable

3 Add personnal ideas 2 suit your way of Trading

 

rgds

 

aaa

 

***********************

 

inputs:

MyIndicator.Length(30),

 

variables:

My.Indicator(0),

 

My.Indicator=RSI(Close,MyIndicator.Length);

 

Condition1=Pivot(

My.Indicator,Length,LeftStrength,RightStrength,1,-1,

oPivotPrice1,oPivotBar1)<>-1 AND

 

(oPivotBar1-RightStrength)=0;

 

Condition2=Pivot(

My.Indicator,,Length,LeftStrength,RightStrength,2,-1,

oPivotPrice2,oPivotBar2)<>-1;

 

If

Condition1AND

Condition2AND

L[oPivotBar2]>=L[oPivotBar1]AND

My.Indicator,[oPivotBar2]> My.Indicator,[oPivotBar1]then // Change the sign < divergence > hidden divergence

 

etc..

 

**************

Edited by aaa

Share this post

Link to post
Share on other sites

lonew0lf    10

lonew0lf
Posted

I agree with you on staying with the trend. That was my reason why having the hidden divergence was important since it shows a continuation of the trend.

 

I seem to be running into a new problem now, it appears that the indicator is firing off alerts late. In the attached picture for example (15 min chart). The positive divergence is completed at 1am est, however the alert doesn't trigger until 1:45am.

 

I looked at the code but can't seem to figure out what's causing the delay. Open to suggestions.

 


//----------------------------------------------------
inputs:
//----------------------------------------------------


RSILength(9),
StochLength(18),
KLength(6),
DLength(3),
OverSold(20),
OverBought(80),
Length(20),
LeftStrength(3),
RightStrength(3),
Div.Color.Down(yellow),
Div.Color.Up(white),
HD.Color.Down (red),
HD.Color.Up (green),
Line.Size(2),
Plot.stochrsi(1),
AlertOn.Off(1);

//---------------------------------------------------- 
variables:
//----------------------------------------------------

DToscK(0), 
DToscD(0),

oPivotPrice1(0),
oPivotBar1(0),
oPivotPrice2(0),
oPivotBar2(0),

oPivotPrice11(0),
oPivotBar11(0),
oPivotPrice12(0),
oPivotBar12(0);

value1 = FastKCustomEasy(RSI(C, RSILength),StochLength);
DToscK =  average(value1,KLength);
DToscD = average(DToscK,DLength);

Condition1 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, -1, oPivotPrice1, oPivotBar1 ) <> -1 
	AND ( oPivotBar1 - RightStrength ) = 0 ;

Condition11 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, 1, oPivotPrice11, oPivotBar11 ) <> -1 
	AND ( oPivotBar11 - RightStrength ) = 0 ;

Condition2 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, -1, oPivotPrice2, oPivotBar2 ) <> -1;

Condition12 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, 1, oPivotPrice12, oPivotBar12 ) <> -1;

If 
	Condition1 and Condition2 // added condition2 = referecne future data
	AND L[oPivotBar1] >= L[oPivotBar2] 
	AND DToscK[oPivotBar2] > DToscK[oPivotBar1] then 
Begin
	Value2 = TL_New(D[oPivotBar2], T[oPivotBar2], L[oPivotBar2], D[oPivotBar1], T[oPivotBar1], L[oPivotBar1]); 
	TL_SetColor( Value2, HD.Color.up );
	TL_SetSize(  Value2, Line.Size  );
		if AlertOn.Off <> 0 then
			Alert( "HD Bottom" );
End;

	If 
	Condition1 and Condition2 // added condition2 = referecne future data
	AND L[oPivotBar2] >= L[oPivotBar1] 
	AND DToscK[oPivotBar2] < DToscK[oPivotBar1] then 
Begin
	Value2 = TL_New(D[oPivotBar2], T[oPivotBar2], L[oPivotBar2], D[oPivotBar1], T[oPivotBar1], L[oPivotBar1]); 
	TL_SetColor( Value2, Div.Color.up );
	TL_SetSize(  Value2, Line.Size  );
		if AlertOn.Off <> 0 then
			Alert( "DIV Bottom" );
End;

If 
	Condition11 and Condition12 // added condition12  referecne future data
	AND H[oPivotBar11] <= H[oPivotBar12] 
	AND DToscK[oPivotBar11] > DToscK[oPivotBar12] then 
Begin
	Value12 = TL_New(D[oPivotBar12], T[oPivotBar12], H[oPivotBar12], D[oPivotBar11], T[oPivotBar11], H[oPivotBar11]); 
	TL_SetColor( Value12, HD.Color.down );
	TL_SetSize(  Value12, Line.Size  );
		if AlertOn.Off <> 0 then
			Alert( "HD Top" );
End;

	If 
	Condition11 and Condition12 // added condition12  referecne future data
	AND H[oPivotBar12] <= H[oPivotBar11] 
	AND DToscK[oPivotBar12] > DToscK[oPivotBar11] then 
Begin
	Value12 = TL_New(D[oPivotBar12], T[oPivotBar12], H[oPivotBar12], D[oPivotBar11], T[oPivotBar11], H[oPivotBar11]); 
	TL_SetColor( Value12, Div.Color.down );
	TL_SetSize(  Value12, Line.Size  );
		if AlertOn.Off <> 0 then
			Alert( "DIV Top" );

End;


condition3 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, -1, oPivotPrice1, oPivotBar1 ) <> -1 
	AND ( oPivotBar1 - RightStrength ) = 0 ;

condition32 = Pivot( DToscK, Length, LeftStrength, RightStrength, 1, 1, oPivotPrice11, oPivotBar11 ) <> -1 
	AND ( oPivotBar11 - RightStrength ) = 0 ;

condition4 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, -1, oPivotPrice2, oPivotBar2 ) <> -1;

condition42 = Pivot( DToscK, Length, LeftStrength, RightStrength, 2, 1, oPivotPrice12, oPivotBar12 ) <> -1;

If 
	Condition3 and condition4 
	AND L[oPivotBar1] >= L[oPivotBar2] 
	AND DToscK[oPivotBar2] > DToscK[oPivotBar1] then 
Begin
	Value2 = TL_New_SELF(D[oPivotBar2], T[oPivotBar2], DToscK[oPivotBar2], D[oPivotBar1], T[oPivotBar1], DToscK[oPivotBar1]); 
	TL_SetColor( Value2, HD.Color.up );
	TL_SetSize(  Value2, Line.Size  );
End;

	If 
	Condition3 and condition4 
	AND L[oPivotBar2] >= L[oPivotBar1] 
	AND DToscK[oPivotBar2] < DToscK[oPivotBar1] then 
Begin
	Value2 = TL_New_SELF(D[oPivotBar2], T[oPivotBar2], DToscK[oPivotBar2], D[oPivotBar1], T[oPivotBar1], DToscK[oPivotBar1]); 
	TL_SetColor( Value2, Div.Color.up );
	TL_SetSize(  Value2, Line.Size  );
End;


If 
	Condition32 and Condition42
	AND H[oPivotBar11] <= H[oPivotBar12] 
	AND DToscK[oPivotBar11] > DToscK[oPivotBar12] then 
Begin
	Value12 = TL_New_SELF(D[oPivotBar12], T[oPivotBar12], DToscK[oPivotBar12], D[oPivotBar11], T[oPivotBar11], DToscK[oPivotBar11]); 
	TL_SetColor( Value12, HD.Color.down );
	TL_SetSize(  Value12, Line.Size  );
End;

	If 
	Condition32 and Condition42
	AND H[oPivotBar12] <= H[oPivotBar11] 
	AND DToscK[oPivotBar12] > DToscK[oPivotBar11] then 
Begin
	Value12 = TL_New_SELF(D[oPivotBar12], T[oPivotBar12], DToscK[oPivotBar12], D[oPivotBar11], T[oPivotBar11], DToscK[oPivotBar11]); 
	TL_SetColor( Value12, Div.Color.down );
	TL_SetSize(  Value12, Line.Size  );
End;

Plot1( DToscK, "stochrsi",      blue );
plot2( 20,    "oversold", white);
plot3(80, "overbought", white);

5aa7100cde519_Diverror.jpg.a59e3484a14dfcc6ce4cbdd8d42b3eab.jpg

Share this post

Link to post
Share on other sites

aaa    10

aaa
Posted (edited)

It is "normal"

 

Unfortunately pivot is not a RT function

 

Suggestion

 

RightStrength(2),

 

try 2 put 2 and U'll have 2 wait 2 bars instead of 3

 

**************************

 

The PPivot function returns the value of a pivot point and the number of bars ago the pivot occurred.

 

RightStrength

 

Numeric

 

Sets the required number of bars on the right side of the pivot bar.

 

*************************************

 

aaa

 

*************************

 

PS I'm wondering how 2 trade if we have 2 wait 3 bars (45 mns delay in your resolution) 2 have a signal ?!

 

Same problem with Carter scalper

 

After Observing during a long time a market, we can visualy anticipate a divergence with prior signs

 

IMO it's interesting 2 put an order at The anticipated level at the opposite of the trend (A kangourou tail where traders changing position)

and after waiting 4 a div or any kind of other confirmation

or exit with a quick profit

 

If it works, it's like a lift rocket !

 

But it is risky Bcoz we can get killed many times B4 it works

 

And then

 

A traders enters after, when the divergence signal is confirmed

 

B There is a DT/DB and it was an 2 early entry

 

C Or the trend keep going and the stop is reached

 

Not easy

 

At the end it's a matter of observation and intuitive quick decision + strong stomach

 

********************************

 

On your graph we can C

 

a kangourou trail ( in fact 1 + 1 the second one killed the first one)

 

a lift rocket

 

DB with certainly a divergence

 

and then the trend changes at the broken line where there was certainly a lot of stop buy orders above

 

So what should we do after 1:00 AM ?

 

Take profit ?

 

Trust in the hidden div and hold our position ?

Edited by aaa

Share this post

Link to post
Share on other sites

lonew0lf    10

lonew0lf
Posted

I've been using the divergence as the first trigger followed by a trend change (ttm trend) as confirmation. I finally noticed on the higher time frames (hourly, daily) that the trigger was way to slow.

 

I use the 15min, 1hr, etc as a signal for the direction I want to trade in and use a 3 min chart for entry.

 

I'll try changing the right strength to 2, why not use 1?

Share this post

Link to post
Share on other sites

aaa    10

aaa
Posted

I'll try changing the right strength to 2, why not use 1?

 

Put 3 charts on the same screen

 

Put right strength to 1

 

Put right strength to 2

 

Put right strength to 3

 

in each screen

 

and choose the one which suits U best

Share this post

Link to post
Share on other sites

lonew0lf    10

lonew0lf
Posted

I was being fictitious on the rightstrenth of 1.

 

Is it possible to have the indicator plot the divergence line, even though you have to wait the 3 bars for confirmation.

 

For example, TTM Trend for example will paint the current bar the anticipated colour before the bar closes. Would that be possible for this indicator where it plots the potential divergence as its happening rather than after the fact?

Share this post

Link to post
Share on other sites

snowbird    10

snowbird
Posted

What is the Tradestation equivalent for TL_New ( I assume this is an array or variable for the new "reverse divergent" trendline to be plotted next... but is undefined and therefore unrecognized in TS.

 

snowbird

Share this post

Link to post
Share on other sites

Tams    20

Tams
Posted
What is the Tradestation equivalent for TL_New ( I assume this is an array or variable for the new "reverse divergent" trendline to be plotted next... but is undefined and therefore unrecognized in TS.

 

snowbird

 

press the [F1] key and see...

 

TL_NEW is available in recent releases of TradeStation, but not in the older version (eg. T2000).

Share this post

Link to post
Share on other sites

aaa    10

aaa
Posted (edited)

Would that be possible for this indicator where it plots the potential divergence as its happening rather than after the fact?

 

With pivot function, I'm afraid that not less than 1 bar on the right side of the pivot bar...

 

The Pivot function returns the value of a pivot point and the number of bars ago the pivot occurred.

 

RightStrength = Sets the required number of bars on the right side of the pivot bar.

 

********************************

 

But keep "optimistic", as TAMS wrote ;)

 

anything is POSSIBLE

 

if you can visualize it, quantify it, articulate it, you can code it.

Edited by aaa

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.

×
Go To Topic Listing

  • Topics

  • Posts

    • RJo
      Better Daily Range indicator for MT5

      By RJo · Posted

      A custom Better Daily Range indicator for MT5 is now available on the Metaquotes website and directly in the MT5 platform. https://www.mql5.com/en/market/product/103800 The Better Daily Range indicator shows the previous trading day's price range on the current day's chart. Many traders mark out the previous day's high, low, and the current day's open before trading. This is not an average true range indicator (ATR). This is not an average daily range indicator (ADR). This is a daily range indicator (DR). This indicator shows horizontal maximum and minimum range lines. If your broker-dealer's MT5 platform shows Sunday bars, Sunday bars are not included as previous days. In other words, Monday uses Friday's price data (skips Sunday). This indicator also shows two 25% (of range) breakout lines: one that is 25% higher than the maximum range line, and one that is 25% lower than minimum range line. A middle range line is also shown. Immediately after the daily close of your broker-dealer, all five range lines update to the new daily values.   Many traders only trade during times of high volume/liquidity. The Better Daily Range indicator also shows five adjustable time separator lines: A local market open time line (a vertical line), A local market middle time A line (a vertical line), A local market middle time B (a vertical line), A local market middle time C (a vertical line), A local market close time (a vertical line), and A local market open price (a horizontal line). The location of the local market open price depends on your input local market open time. In other words, you input your desired market open time according to your local machine/device time and the indicator automatically shows all five session lines. When your incoming price bars reach your input local market open time line, the indicator automatically shows the price to appear at your input local market open time. If your broker-dealer's MT5 platform shows Sunday bars, the time separator lines do not show on a Sunday. Immediately after midnight local machine/device time, the five session time lines (vertical lines) are projected forward into the current day (into the future hours) and the local open price line is erased. The local open price line reappears when the price bars on the chart reach your input local open time (your local machine/device time).   The indicator has the following inputs (settings):   Chart symbol of source chart [defaults to: EURUSD] - Allows you to show data from another chart symbol other than the current chart symbol. Handy for showing standard timeframe data on an MT5 Custom Chart. Local trading session start hour [defaults to: 09] - Set your desired start hour for trading according to the time displayed on your local machine/device operating system (all times below are your local machine/device operating system times). The default setting, 09, means 9:00am. Local trading session start minute [defaults to: 30] - Set your desired start minute. The default setting, 30, means 30 minutes. Both the default hour and the default minute together mean 9:30am. Local trading session hour A [defaults to: 11] - Set your desired middle hour A for stopping trading when volume tends to decrease during the first half of lunch time. The default setting, 11, means 11:00am. Local trading session minute A [defaults to: 00] - Set your desired middle minute A. Both the default hour and the default minute together mean 11:00am. Local trading session hour B [defaults to: 12] - Set your desired middle hour B for the second half of lunch time. The default setting, 12, means 12:00pm (noon). Local trading session minute B [defaults to: 30] - Set your desired middle minute B. Both the default hour and the default minute together mean 12:30pm. Local trading session hour C [defaults to: 14] - Set your desired middle hour C for resuming trading when volume tends to increase. The default, 14, means 2:00pm. Local trading session minute C [defaults to: 00] - Set your desired middle minute C. Both the default hour and the default minute together mean 2:00pm. Local trading session end hour [defaults to: 16] - Set your desired end hour for stopping trading. The default setting, 16, means 4:00pm. Local trading session end minute [defaults to: 00] - Set your desired end minute for stopping trading. Both the default hour and the default minute together mean 4:00pm. High plus 25% line color [defaults to: Red]. High plus 25% line style [defaults to: Soid]. High plus 25% line width [defaults to 4]. High line color [defaults to: IndianRed]. High line style [defaults to: Solid]. High line width [defaults to: 4]. Middle line color [defaults to: Magenta]. Middle line style [defaults to: Dashed]. Middle line width [defaults to: 1]. Low line color [defaults to: MediumSeaGreen]. Low line style [defaults to: Solid]. Low lien width [defaults to: 4]. Low minus 25% line color [defaults to: Lime]. Low minus 25% line style [defaults to: Solid]. Low minus 25% line width [defaults to: 4]. Local market open line color [defaults to: DodgerBlue]. Local market open line style [defaults to: Dashed]. Local market open line width [defaults to: 1]. Local market middle lines color [defaults to: DarkOrchid]. Local market middles lines style [defaults to: Dashed]. Local market middles lines width [defaults to: 1]. Local market close line color [default: Red]. Local market close line style [Dashed]. Local market close line width [1]. Local market open price color [White]. Local market open price style [Dot dashed with double dots]. Local market open price width [1].
    • RJo
      Logarithmic Moving Average indicator for MT5

      By RJo · Posted

      A custom Logarithmic Moving Average indicator for MT5 is now available for MT5 on the Metaquotes website and directly in the MT5 platform. https://www.mql5.com/en/market/product/99439 The Logarithmic Moving Average indicator is a moving average that inverts the formula of an exponential moving average. Many traders are known to use logarithmic charts to analyze the lengths of price swings. The indicator in this post can be used to analyze the logarithmic value of price on a standard time scaled chart. The trader can set the following input parameters: MAPeriod [defaults to: 9] - Set to a higher number for more smoothing of price, or a lower number for faster reversal of the logarithmic moving average line study. MAShift [defaults to: 3] - Set to a higher number to reduce the amount of price crossovers, or a lower for more frequent price crossovers. Indicator line (indicator buffer) can be called with iCustom in Expert Advisors created by Expert Advisor builder software or custom coded Expert Advisors: No empty values; and No repainting.
    • RJo
      Semi-Log Scale Oscillator indicator for MT5

      By RJo · Posted

      A custom Semi-Log Scale Oscillator indicator is now available for MT5 on Metaquotes website and directly in the MT5 platform. https://www.mql5.com/en/market/product/114705 This indicator is an anchored semi-logarithmic scale oscillator. A logarithmic scale is widely used by professional data scientists to more accurately map information collected throughout a timeframe, in the same way that MT5 maps out price data. In fact, the underlying logic of this indicator was freely obtained from an overseas biotech scientist. A log-log chart displays logarithmic values on both the x (horizontal) and y (vertical) axes, which generally produces a straight line that points up, down, or remains flat. A straight line is not very useful for trading markets because such a straight line is so smoothed that actual price values that appear over time are very far away from the line study. In contrast, a semi-log chart is only logged on one axis--generally, the y axis. Such a semi-log chart is well suited for trading markets because the time (x) axis is preserved in its original form while at the same time, providing a graduated y scale where the distance between price increments progressively increases as price rises higher (and decreases as price falls lower). This allows us to establish a zero level for a low price, clearly view trends on straighter angles, and clearly observe amplified price spikes at high prices. Accordingly, this indicator employs a semi-log scale on the y axis only. This indicator is anchored because it allows you to specify a start time for calculation of price bars. The settings are as follows: Year.Month.Day Hour:Minute - defaults to 1970.01.01 00:01 - if left on default setting, the indicator automatically detects the earliest price bar in chart history--even where the year 1970 is not in history. Notes appear in the indicator settings window. Size of first pip step to log - defaults to 135 - this default is suitable for higher timeframes such a MN1 (monthly), while 5 is suitable for lower timeframes such as M1 (minute). Ultimately, optimal settings will depend on the timeframe that you attach the indicator to, the level of price volatility within that timeframe, and start time that you choose. Remember... The semi-log formula calculates from low to high, so your start time must always be a major swing low. Again, notes appear in the indicator settings window. The standard (built-in) MT5 indicators that can be applied to the "Previous indicator's data" can be applied to this indicator. Indicator lines (indicator buffers) can be called with iCustom in Expert Advisors created by Expert Advisor builder software or custom coded Expert Advisors. The log scale Open, High, Low, and Close prices are buffers: No empty values; and No repainting.
    • RJo
      Gann Candles indicator for MT5

      By RJo · Posted

      A custom Gann Candles indicator is now available for MT5 on the Metaquotes website and directly in the MT5 platform. https://www.mql5.com/en/market/product/126398 This Gann Candles indicator incorporates a series of W.D. Gann's strategies into a single trading indicator. Gann was a legendary trader who lived from 1878 to 1955. He started out as a cotton farmer and started trading at age 24 in 1902. His strategies included geometry, astronomy, astrology, times cycles, and ancient math. Although Gann wrote several books, none of them contain all of his strategies so it takes years of studying to learn them. He was also a devout scholar of the Bible and the ancient Greek and Egyptian cultures, and he was a 33rd degree Freemason of the Scottish Rite. In an effort to simplify what I believe are the best of Gann's strategies, I reduced them into one indicator that simply colors your preexisting price bars when those strategies are in-sync versus out-of-sync. This greatly reduces potential chart clutter. Also, I reduced the number of input settings down to only two: FastFilter, and SlowFilter Both FastFilter and SlowFilter must be set to 5 or more, as noted in the Inputs tab upon attaching the indicator to your chart. Gann Candles works on regular time-based charts (M5, M15, M20, etc.) and custom charts (Renko, range bars, etc.). The indicator does not repaint. When using the default settings, blue candles form bullish price patterns, gray candles form flat (sideways) price patterns, and white candles form bearish price patterns. The simplest way to trade Gann Candles is to buy at the close of a blue candle and exit at the close of a gray candle, and then sell at the close of a white candle and exit at the close of a gray candle.
    • RJo
      Anchored VWAP with Standard Deviation Bands indicator for MT5

      By RJo · Posted

      A custom Anchored VWAP with Standard Deviation Bands indicator for MT5 is now available on the Metaquotes website and directly through the MT5 platform. https://www.mql5.com/en/market/product/99389 The volume weighted average price indicator is a line study indicator that shows in the main chart window of MT5. The indicator monitors the typical price and then trading volume used to automatically push the indicator line toward heavily traded prices. These prices are where the most contracts (or lots) have been traded. Then those weighted prices are averaged over a look back period, and the indicator shows the line study at those pushed prices. The indicator in this post allows the trader to set the daily start time of that look back period. This indicator automatically shows 5 daily look back periods: the currently forming period, and the 4 previous days based on that same start time. For this reason, this indicator is intended for intraday trading only. The indicator automatically shows vertical daily start time separator lines for those days as well. Both typical prices and volumes are accumulated throughout the day, and processed throughout the day. Important update: v102 of this indicator allows you to anchor the start of the VWAP and bands to the most recent major high or low, even when that high or low appears in your chart several days ago. This is how institutional traders and liquidity providers often trade markets with the VWAP. This indicator also shows 6 standard deviation bands, similarly to the way that a Bollinger Bands indicator shows such bands. The trader is able to set 3 individual standard deviation multiplier values above the volume weighted average price line study, and 3 individual standard deviation multiplier values below the volume weighted average price line study. Higher multiplier values will generate rapidly expanding standard deviation bands because again, the indicator is cumulative. The following indicator parameters can be changed by the trader in the indicator Inputs tab: Volume Type [defaults to: Real volume] - Set to Tick volume for over-the-counter markets such as most forex markets. Real volume is an additional setting for centralized markets such as the United States Chicago Mercantile Exchange. VWAP Start Hour [defaults to: 07] - Set according to broker's or broker-dealer's MT5 server time in 24 hour format. For example, in the New York, United States time zone, 07 is approximately the London, United Kingdom business open hour. VWAP Start Minute [defaults to: 00] - Set according to broker's or broker-dealer's MT5 server time in 24 hour format. For example, 00 is on the hour with no delay of minutes within that hour. StdDev Multiplier 1 [defaults to: 1.618] - Set desired standard deviation distance between the volume weighted average price line study and its nearest upper and lower bands. For example, 1.618 is a basic Fibonacci ratio. Some traders prefer 1.000 or 1.250 here. StdDev Multiplier 2 [defaults to: 3.236] - Set desired standard deviation distance between the volume weighted average price line study and its middle upper and lower bands. For example, 3.236 is 1.618 (above) + 1.618. Some traders prefer 2.000 or 1.500 here. StdDev Multiplier 3 [defaults to: 4.854] - Set desired standard deviation distance between the volume weighted average price line study and its furthest upper and lower bands. For example, 4.854 is 1.618 (above) + 3.236 (above). Some traders prefer 3.000 or 2.000 here. VWAP Color [defaults to: Aqua] - Set desired VWAP line study color. This color automatically sets the color of the start time separators as well. SD1 Color [defaults to: White] - Set desired color of nearest upper and lower standard deviation lines. SD2 Color [defaults to: White] - Set desired color of middle upper and lower standard deviation lines. SD3 Color [defaults to: White] - Set desired color of furthest upper and lower standard deviation lines. Just to clarify, popular standard deviation bands settings are: 1.618, 3.236, and 4.854; or 1.000, 2.000, and 3.000; or 1.250, 1.500, and 2.000. Examples of usage *: In a ranging (sideways) market, enter a trade at the extremes of the standard deviation bands (SD3) and exit when price returns to the VWAP line study. Trade between SD1Pos and SD1 Neg, alternately buying and selling from one standard deviation line to the other. In a trending (rising or falling) market, enter a buy when a price bar opens above the VWAP line study, and exit at the nearest standard deviation band above (SD1Pos). Optionally, repeat the same trade but substitute SD1Pos for the VWAP, and SD2Pos for SD1. Reverse for sell; or Trade all lines (VWAP, SD1Pos, SD2Pos, and SD3Pos) in the same way. Again, reverse for sell. Indicator lines (indicator buffers) can be called with iCustom in Expert Advisors created by Expert Advisor builder software or custom coded Expert Advisors: No empty values; and No repainting.
×
×
  • Create New...

Important Information

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

  I accept