sure, in the meantime you can manually change it to plot arrows in the study settings.Can you elaborate in order to get it to paint the plot? thanks
plot bullish = (Value > 0) and (price > MidLine) and (RSI > 50);
plot bullish2 = (Main > Signal) and (Main < ostmo);
plot bearish = (Value < avg) and (Main < Signal) and (Main > obtmo) and (RSI < 60);
There's two side to that coin. Your 2 cents is understood from your perspective. My perspective is that 5 minute prices are absolutely random. That is the reason that the ORB was created by CBOE & CME floor traders back in the 1950's. That disagreement in point of view is what makes a market.@markos IF an indicator on a smaller timeframe lets say 5 min can establish a longer term "trend" that same indicator will be great for long term traders/investors...,however, it does not work the same way if you were to do so backwards. Just my $.02...
I'd be curious how this CSA stacks up to other day trading CSA's...
My goal is to stick to mainstream indicators, mainly Bollinger Bands, MACD, and RSI because I know they will be used for years to come. I'm going to design it for the long term but similar conditions in daily timeframes are found in smaller timeframes as well so it should hopefully work well both ways.There's two side to that coin. Your 2 cents is understood from your perspective. My perspective is that 5 minute prices are absolutely random. That is the reason that the ORB was created by CBOE & CME floor traders back in the 1950's. That disagreement in point of view is what makes a market.
This will not be a day trading CSA but instead, @YungTraderFromMontana wishes to create something that speaks to him on a long term chart eg daily / weekly / monthly as I read it.
at the moment the combo study better but hopefully I'll be able to outperform it.@markos That's not what I meant...I understand that 5 min chart maybe considered random for more long term traders/investors such as yourself...What I meant is that IF you can create a CSA study that is able to find a trend on what you described as a random timeframe...Imagine what that same indicator or CSA study can do on a more longer timeframe. I don't know how ORB would work on a daily timeframe as the longest timeframe I've seen it work on was 30m and that left much out on the table in terms of potential profits. But that could be the day trader speaking in me vs the investor/long term trader.
@YungTraderFromMontana did you for shits and giggles compare the results in what you're trying to create to the CSA study that @diazlaz is working on? How do they compare? Seems to me like you're going to use similar indicators hence my initial comment to @markos
I asked @diazlaz to incorporate Derivative RSI as well as Relative Volume into the next CSA version along with Hull MA, Schaff Trend and another Mobius version of HA SuperTrend. Perhaps you can use some of those indicators in your CSA once you see how those respond to the current CSA...I am looking forward to your findings.
It very well may work better on unintended timeframes. I'm still working on it. The next version will incorporate a bearish version as well as Williams%R and CCI. I also removed bb because of lag, the goal is to have a leading indicator. I'll finish it by tomorrow. New version even works well on smaller timeframes.what does it mean by long term?
i did some backtest, seems to work quite well even on swings, 1-2 weeks tf.
This should work, this is the version I'm working on now which includes virtually no lag (no ma's of any kind besides one length 5 ema in the tmo)You mean change "show breakout signals" to yes? I do that but I dont see anything different
|Thread starter||Similar threads||Forum||Replies||Date|
|Slim Miller's Long-Term Trend Trading Chart||Indicators||21|
|Long Term Bollinger Band Breakout Strategy for ThinkorSwim||Indicators||49|
|How can I trim long (useless) numbers?||Questions||3|
|Long or Short? You decide!||Playground||0|
|Anyway to know whether my current position is LONG or SHORT?||Questions||3|