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VTTrader: Request Indicator or Trading System for VT Trader

  • #141
  • Nov 15, 2006 1:03pm Nov 15, 2006 1:03pm
I was wondering if there is an indicator for fozzy. It is an 8 EMA crossover on an 8 period RSI. Indicator or trading system.

Thanks
  • #142
  • Nov 18, 2006 3:51pm Nov 18, 2006 3:51pm
I first came accross the r-square indicator in Martin Pring's, Momentum Explained II. IT is used as a confirmation indicator with trend indicators etc.. I have been using Pring's reccomened price projection oscillator with very good results without using the r-squared as a confirmation indicator because vttrader does not have it-(see attached image from book). I trust that Pring is not a idiot and has most likely reccomened the r-square based on its usefullness.

I have been hard pressed to find further information about this indicator. I have seen that it is first mentioned in The New Technical Trader by Chande and Kroll(I do not have the book). It is mentioned in some tradestation forums. I am pasting a copy of the description from the website at Paritech.com:


The Linear Regression method provides several useful outputs for technical analysts, including the r-squared. R-squared shows the strength of trend. The more closely prices move in a linear relationship with the passing of time, the stronger the trend.

Interpretation

r-squared values show the percentage of movement that can be explained by linear regression. For example, if the r-squared value over 20 days is at 70%, this means that 70% of the movement of the security is explained by linear regression. The other 30% is unexplained random noise.

It is helpful to consider r-squared in relation to Slope. While Slope gives you the general direction of the trend (positive or negative), r-squared gives you the strength of the trend. A high r-squared value can be associated with a high positive or negative Slope.

Although it is useful to know the r-squared value, ideally, you should use r-squared in tandem with Slope. High r-squared values accompanied by a small Slope may not interest short term traders. However, high r-squared values accompanied by a large Slope value may be of huge interest to traders.

One of the most useful way to use r-squared is as a confirming indicator. Momentum based indicators (e.g., Stochastics, RSI, CCI, etc.) and moving average systems require a confirmation of trend in order to be consistently effective. R-squared provides a means of quantifying the “trendiness” of prices. If r-squared is above its critical value and heading up, you can be 95% confident that a strong trend is present.

When using momentum based indicators, only trade overbought/oversold levels if you have determined that prices are trendless or weakening (i.e., a low or lowering r-squared value). Because in a strong trending market, prices can remain overbought or oversold for extended periods. Therefore, you may want to reconsider trading on strict overbought/oversold levels used by many indicators. An “overbought” market can remain overbought for extended periods in a trending market. However, a signal generated by a moving average crossover system may be worth following, since these systems work best in strong trending markets.

To determine if the trend is statistically significant for a given x-period linear regression line, plot the r-squared indicator and refer to the following table. This table shows the values of r-squared required for a 95% confidence level at various time periods. If the r-squared value is less than the critical values shown, you should assume that prices show no statistically significant trend.

You may even consider opening a short-term position opposite the prevailing trend when you observe r-squared rounding off at extreme levels. For example, if the slope is positive and r-squared is above 0.80 and begins to turn down, you may consider selling or opening a short position.

There are numerous ways to use the linear regression outputs of r-squared and Slope in trading systems. For more detailed coverage, refer to the book The New Technical Traderby Tushar Chande and Stanley Kroll.


If I cannot adapt this indicator to vttrader, I am interested in researching other similar indicators to use as a substitute!

Any thoughts or help is appreciated- TY- M Rippy
Attached Image
  • #143
  • Dec 3, 2006 10:25pm Dec 3, 2006 10:25pm
Hi Bemac,
Wondering if there is a VT trading system for the stochastics indicator when it crosses oversold and overbought levels example.20/80.

If so, please guide me to the correct area/link to find it.

If not: Just a simple slow stochatics indicator with the various parameters %K's and %D's with the facility to the trader to add the horizontal lines for OB&OS values. The arrows should only come when the line crosses above or below the 20/80 level.

Example: 35/10/1 for stocastics with 20/80 . When line crosses 20 from below a BUY arrow and when the line crosses from above 80 a sell arrow is generated.

Many thanks,
Lorriane
  • #144
  • Dec 8, 2006 7:15am Dec 8, 2006 7:15am
Hi there


Any chance a HUll MA can be coded to display 1 colour when it is facing up and another when facing down?

Tx in advance
Understanding is a three-edged sword
  • #145
  • Aug 8, 2007 5:54pm Aug 8, 2007 5:54pm
Hi Bemac

I've tried to find a VT Trader version of Phillip Nel's coloured macd indicator, used for the 4hour stratergy. If anyone shloud know of it's existence, it's you

Thanks
Steve G
Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #146
  • Aug 8, 2007 7:43pm Aug 8, 2007 7:43pm
Quoting cowboying
Hi Bemac

I've tried to find a VT Trader version of Phillip Nel's coloured macd indicator, used for the 4hour stratergy. If anyone shloud know of it's existence, it's you

Thanks
Steve G
Sorry Steve, I don't normaly surf the Systems Forum {for other reasons, that may be about to change}, I just had a scan of Phillips thread. I see numerous versions of the MACD in both colour and B&W.

If you can give me a detailed description of the parameters of the one you want, I will think about whether it can be coded in VTT.

I will also ask Phillip.

  • #147
  • Aug 8, 2007 8:03pm Aug 8, 2007 8:03pm
Quoting Bemac
If you can give me a detailed description of the parameters of the one you want, I will think about whether it can be coded in VTT.

I will also ask Phillip.


Greetings Bemac,

Enjoyed your comment about being happy to see me, on another thread.

Ok... I would be interested in seeing this MACD too.

Lou
  • #148
  • Aug 8, 2007 11:08pm Aug 8, 2007 11:08pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting Bemac
Sorry Steve, I don't normaly surf the Systems Forum {for other reasons, that may be about to change}, I just had a scan of Phillips thread. I see numerous versions of the MACD in both colour and B&W.

If you can give me a detailed description of the parameters of the one you want, I will think about whether it can be coded in VTT.

I will also ask Phillip.

very interested to get this macd as well. I'm using a VT platform! Thanks Bemac for your contribution!!
  • #149
  • Aug 8, 2007 11:12pm Aug 8, 2007 11:12pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Maybe i could give you a description of the macd line. The macd settings are 5,13,1, all exponential.

Histogram up = green bar
Histogram down = red bar.

6 horizontal lines to be added.

+0.0015
+0.0030
+0.0045
-0.0015
-0.0030
-0.0045

Hope my description can be of some assistance to you!
  • #150
  • Aug 8, 2007 11:52pm Aug 8, 2007 11:52pm
Let me know if this is close.
Attached Image
  • #151
  • Aug 8, 2007 11:53pm Aug 8, 2007 11:53pm
The Indicator.
Attached File(s)
File Type: vtscr PN_MACD.vtscr   1 KB | 491 downloads
  • #152
  • Aug 9, 2007 12:30am Aug 9, 2007 12:30am
How come there are no Harmonics Patterns
programmed into VTtrader Software ?

Example: Butterfly Patterns, Gartley's , Bat Patterns, Wolfwaves,and others

The Garltey Patterns are so basic
and of all the harmonics patterns should be in VTtrader

So why aren't they included ? ............

---------------------------------------------------------------

Just goes to show that most programmers and
software vendors are not really traders at all ....
  • #153
  • Aug 9, 2007 12:36am Aug 9, 2007 12:36am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Hi Bemac,

It should look something like this.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 21 KB
  • #154
  • Aug 9, 2007 12:38am Aug 9, 2007 12:38am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
I hope my picture is clear enough..
  • #155
  • Aug 9, 2007 4:54am Aug 9, 2007 4:54am
[quote=Bemac;1529823]Sorry Steve, I don't normaly surf the Systems Forum {for other reasons, that may be about to change}, I just had a scan of Phillips thread. I see numerous versions of the MACD in both colour and B&W.

If you can give me a detailed description of the parameters of the one you want, I will think about whether it can be coded in VTT.

I will also ask Phillip.

Hi Bemac

Thanks for your reply, sorry for not attaching the indicator, please see links below. I believe Irush put this great indicator together.

Thanks for your time.

http://www.forexfactory.com/attachme...7&d=1176129038

http://www.forexfactory.com/attachme...6&d=1176129038
Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #156
  • Aug 9, 2007 6:29pm Aug 9, 2007 6:29pm
Now I have a better understanding of what causes the colour change.
Is it always 7 Pips? Or, should that be a User Input?

Not sure yet if I can incorporate this or not but, in the event that I can, I need 'Specific Definitions' of the following.


Signals can be plotted on MACD chart. The following signals will be plotted:

  1. RT – round top
  2. RB – round bottom
  3. VT – v-top
  4. VB – v-bottom
  5. ZB – zero bounce
  6. TC – trend continuation

  • #157
  • Edited 3:18am Aug 10, 2007 3:07am | Edited 3:18am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting Bemac
Now I have a better understanding of what causes the colour change.
Is it always 7 Pips? Or, should that be a User Input?

Not sure yet if I can incorporate this or not but, in the event that I can, I need 'Specific Definitions' of the following.


Signals can be plotted on MACD chart. The following signals will be plotted:

  1. RT – round top
  2. RB – round bottom
  3. VT – v-top
  4. VB – v-bottom
  5. ZB – zero bounce
  6. TC – trend continuation

I think its not a user input but a clear definition of "how many pips to turn it green bar or red bar". Please correct me if i'm wrong. Are there possibility that alerts can be programmed when signal changes in macd signal?
  • #158
  • Aug 13, 2007 11:45am Aug 13, 2007 11:45am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
have u programmed the macd indicator?? I'm not rushing you but just asking...
  • #159
  • Aug 17, 2007 12:17pm Aug 17, 2007 12:17pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
why suddenly this thread is so dead??
  • #160
  • Sep 6, 2007 1:05am Sep 6, 2007 1:05am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
hello.. anyone here??? Are there some other people who can help with the programming of the indicator??
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