Automatic Trend Line Detection and Alert

[NinjaTrader_Ray]

This is an indicator I published for the September 07 issue of S&C. This indicator is provided on an "as-is" basis.

To import:

- Download the file contained in this thread to your desktop
- From the Control Center window select the menu File > Utilities > Import NinjaScript
- Select the downloaded file

[BC5391]

Thanks Ray,

I did modify the alert, any wave file you want can be created here

http://public.research.att.com/~ttsweb/tts/demo.php

[prostyle]

Hello,

You auto trend line is GREAT! I love it.

Have a question for you. How hard would it be
to devise a indicator that works the same type of
way but works with divergence?

Ie - plots the divergence between price action
and say macd or stoch or both :-)

Thanks,

Colin

[RK_trader]

Thanks Ray for the auto trendline indicator.

When I tried to install it is trying to overwrite the default "swing"indicator, is this expected? Does it change swing indicator in anyway?

What does the "strength" field indicate? Does it indicate number of swing pivots needed for drawing the trendline?

Did you test whats the optimum strength field for ES 3 min chart. Appreciate your time on this.

Thanks
RK

[NinjaTrader_Josh]

The reason it is trying to overwrite the Swing indicator is because the way the export NinjaScript is designed is to allow the export file to work on its own. You can safely overwrite your Swing indicator as it is the same file. There will be no changes done.

[NinjaTrader_Ray]

Strength represents the number of bars left and right of a pivot required to form a pivot. I have not done any optimization to determine best values on any time frame.

[RK_trader]

Thanks Josh. I appreciate it.

Do you know what the "strength" field indicates? Does it indicate number of swing pivots needed for drawing the trendline?

Did you test whats the optimum strength field for ES 3 min chart. Appreciate your time on this.

Thanks
RK

[RK_trader]

Hi

Any active users of this auto trendline indicator, did you experiment with what "strength" property value you are getting good results? I tried 5 and not sure if it is good.

Also when does it give the signal. Does it wait for atleast one bar to close below the current trendline?

Josh thanks for good indicator. I am not a Ninja programming expert, trying to learn the indicator programming. Is it possible you can modify the indicator to include a property field "the number of bars to close below trendline to give signal"

Also I would like to request if you are considering enhancements to make the trendline a little below the swing lows with a "displacement". For example in an uptrend the trendline is joining the swing low pivots. I am finding that if the trendline is a bit conservative and like a few ticks below the swing lows, it is holding well. For example, if the swing lows in ES uptrend are like 1531.50, 1535.50, 1540.50, then a line joining 1531.25 ,1535.25,1540.25 with 0.25 displacement to downside is holding really well and when it breaks, it gives a very strong signal and doesn't give false signals. May be this can be enhanced by adding a "displacement field" to properties.

I appreciate your time and any active users opinion on this.

Thanks
RK

[NinjaTrader_Josh]

Unfortunately I cannot provide assistance on this indicator RK_trader. It wasn't me who programmed this one and so I do not know what the parameters do or mean.

[RK_trader]

Thanks Josh for the quick reply. No problem.

I would appreciate opinions/comments on people who are actively using this indicator. Any volunteers who can modify the code to get the enhancements/options.

Thanks
RK

[NinjaTrader_Ray]

The indicator waits for the first value lower or higher than a uptrend or downtrend line. If the indicator's "Calculate on bar close" is set to true, it will wait for a close of the bar otherwise just the first tick.

Unfortunately I will not be ammending the code to provide extra user defineable parameters however, anyone can take this open source code and modify it as they wish.

[RK_trader]

Thanks Ray. I am still in learning phase of Ninja programming.

I see "calculateonbarclose" on line 42 in Initialize() and it is set to true

And the other place I see it is on line 298 which says as below:

indicator.CalculateOnBarClose = CalculateOnBarClose;

Can you please clarify as to in which line, I need to change the value to true, so that it waits for a a bar to close below the trendline to give the alert.

Appreciate your time on this.

Thanks
RK

[NinjaTrader_Ray]

Line 42 should be set to 'true'.

[RK_trader]

Hi Ray,

In line 42, it is already set to true.

Thanks
RK

[APat1]

If it is set tof alse the calcs are on incoming tick basis.
Probably can change it in the indicator prop window.
Pat