The Extension of the existing indicator (add-on) for Ninjatrader 8
Budget: $250 – $750 USD
Note, do not confuse patterns with systems. They both use capital letters.
1.) The job includes (briefly) :
* understanding the whole code of the existing indicator,
* take all the "Important points" -A,B, C, and D (time and price), sometimes called "X points," from the existing indicator, add new lines, and then create new patterns - "a, c." (the B system uses small letters.),
* coppy & change patterns A and C, specifically in the 2nd leading point for lines.
* the displaying of lines,
* and finally adding the 2 custom setting options for the indicator for B System (at the end of the post).
Each line of code that is added to the existing indicator will be marked with a capital letter "B" as a note. Example:
xxx xxx x xx x. // B added notes
xxx xxxx xxxx// B ...
One of the other differences between the "System A and B indicators" is that "the patterns of "new System B" are mostly formed before the Close price of a particular candle (bar) is created." Similarly, Entry and Exit can be on one bar for coding the strategy (one of the following jobs). In fact, "a,b, and c patterns" can gradually take place on one bar too -> "c, b then a" (Approaching, Bounce, and False Break Out Entry and then Exit). (My knowledge of Ninjascript tells me that a separate part of the code will have to be created, wherefrom the original "Calculate.OnBarClose" will change to -> "Calculate.OnEachTick, in case will use a 15 min frame. Or for daily data, then it will have to be used e.g. 1 min frame.)
2.) The short explanation of the existing indicator
"System A" indicator, based on "finding and marking the Important points" (also called the "X points"). These points are the 1st points of patterns that include 3 following bars. The first following 2 bars create "lines" that connect a High-Low or Low-High with one of 4 possible interactions with the 3rd bar. Then the High "or" Low of the 1st bar is marked as one of 4 letters. Professionals code this indicator, and parts of the indicator can be used as templates for further coding.
The patterns have user settings like: set the length or number of lines displayed. The existing indicator has the following patterns and their designations:
a) Pattern "A" - False Break-Out of line
b) Pattern "B" - Bounce of the line
c) Pattern "C" - Approximation of the price to the line
d) Pattern "D" - Break-out line
Each letter from A, B, C, and D represents one "Important point".
3. The patterns that needs to code - System B
a) "Pattern a" - False Break-Out of line - pic. No. 1., and
c) "Pattern c" - Approximation of the price to the line - pic. No. 2.
In picture No. 3, it is possible to see a mix of lines and patterns, including Asc. + Support and Desc. + Resistance lines. However, these do not copy the exact code from the presented indicator, and it is unnecessary to code them, as it needs more advanced filtering for trading.
And the pic No. 3a roughly shows how the "a and c patterns" should look with confirmed patterns -blue lines. The non-used lines - dashed lines in a light grey colour - that will not be displayed. They are there just for the explanation.
System B will not be used separately for trading. The Entries will be based on all systems - A, B, C, and many filters.
4.) System B should have this setting options:
1.) How many 'Important points "will be used from the present to the past for trading. Correct setting prevents a vast number of false signals.
2.) The maximum number of lines after each X-point (= number of following bars with used Close prices for lines.).
I prefer a short call before confirmation of the job, and I can answer any questions about the project.
The pictures show :
1.) It is the beginning of NT8 code of the existing indicator. I will send it in a next post after understanding this post.
2.) What exist. inicator does on price chart
0.) Where will occure the new patterns
3.a + b) An Examples of new patterns.
1.) The job includes (briefly) :
* understanding the whole code of the existing indicator,
* take all the "Important points" -A,B, C, and D (time and price), sometimes called "X points," from the existing indicator, add new lines, and then create new patterns - "a, c." (the B system uses small letters.),
* coppy & change patterns A and C, specifically in the 2nd leading point for lines.
* the displaying of lines,
* and finally adding the 2 custom setting options for the indicator for B System (at the end of the post).
Each line of code that is added to the existing indicator will be marked with a capital letter "B" as a note. Example:
xxx xxx x xx x. // B added notes
xxx xxxx xxxx// B ...
One of the other differences between the "System A and B indicators" is that "the patterns of "new System B" are mostly formed before the Close price of a particular candle (bar) is created." Similarly, Entry and Exit can be on one bar for coding the strategy (one of the following jobs). In fact, "a,b, and c patterns" can gradually take place on one bar too -> "c, b then a" (Approaching, Bounce, and False Break Out Entry and then Exit). (My knowledge of Ninjascript tells me that a separate part of the code will have to be created, wherefrom the original "Calculate.OnBarClose" will change to -> "Calculate.OnEachTick, in case will use a 15 min frame. Or for daily data, then it will have to be used e.g. 1 min frame.)
2.) The short explanation of the existing indicator
"System A" indicator, based on "finding and marking the Important points" (also called the "X points"). These points are the 1st points of patterns that include 3 following bars. The first following 2 bars create "lines" that connect a High-Low or Low-High with one of 4 possible interactions with the 3rd bar. Then the High "or" Low of the 1st bar is marked as one of 4 letters. Professionals code this indicator, and parts of the indicator can be used as templates for further coding.
The patterns have user settings like: set the length or number of lines displayed. The existing indicator has the following patterns and their designations:
a) Pattern "A" - False Break-Out of line
b) Pattern "B" - Bounce of the line
c) Pattern "C" - Approximation of the price to the line
d) Pattern "D" - Break-out line
Each letter from A, B, C, and D represents one "Important point".
3. The patterns that needs to code - System B
a) "Pattern a" - False Break-Out of line - pic. No. 1., and
c) "Pattern c" - Approximation of the price to the line - pic. No. 2.
In picture No. 3, it is possible to see a mix of lines and patterns, including Asc. + Support and Desc. + Resistance lines. However, these do not copy the exact code from the presented indicator, and it is unnecessary to code them, as it needs more advanced filtering for trading.
And the pic No. 3a roughly shows how the "a and c patterns" should look with confirmed patterns -blue lines. The non-used lines - dashed lines in a light grey colour - that will not be displayed. They are there just for the explanation.
System B will not be used separately for trading. The Entries will be based on all systems - A, B, C, and many filters.
4.) System B should have this setting options:
1.) How many 'Important points "will be used from the present to the past for trading. Correct setting prevents a vast number of false signals.
2.) The maximum number of lines after each X-point (= number of following bars with used Close prices for lines.).
I prefer a short call before confirmation of the job, and I can answer any questions about the project.
The pictures show :
1.) It is the beginning of NT8 code of the existing indicator. I will send it in a next post after understanding this post.
2.) What exist. inicator does on price chart
0.) Where will occure the new patterns
3.a + b) An Examples of new patterns.