The Middle indicator

[TheRumpledOne]

FOREX First grade now in session

Trade in the direction of the last middle cross.

Use a 60 minute chart.

If the price crosses above the middle of the previous candle, buy. Then if the price crosses below the middle of the current candle, sell.


If the price crosses below the middle of the previous candle, sell. Then if the price above below the middle of the current candle, buy.

Use this as a "compass" to indicate trade direction.

In the screen shot, the magenta "+" is the previous candle's middle and the cyan "+" is the current candle's middle.

Do you see how the price crosses for a profit?

Watch it happen a few times to build your confidence, then start pipping away!

CLASS DISMISSED

[TomKeough]

I remember you, TRO from the TradeStation site. I used to use 2000i and have switched to NeoTicker.

Good to see you.
Tom Keough

[TheRumpledOne]

I went back to my "roots" with this SLOT MACHINE VERSION of the Middle Trend Indicator.



CxPM is the close crossing the Previous Middle

CxM is the close crossing the Current Middle

MxPM is the current middle crossing the previous middle

PM is the previous middle crossing the prievious middle 1 bar ago.

The colors/symbols let you know which way the trade is going!

[eagles]

TRO,
An interesting phenomenon with the _TR_PB_Middle. I put both 60 min & 5 min in the same workspace as data1 and data2 with the PB Middle on both data1 and data2.

If I put the 60 min as data1 and 5 min as data2, the paint bar looks fine on the 60 min plot, but on the 5 min it only paints the bars 'on the hour'.

If I put the 5 min as data1 and 60 min as data2, the paint bar looks correct on both plots. (Matched against separate window with PB Middle on each time frame.)

I have looked at the code and there doesn't appear to be anything that would cause this result.

Not sure why this is happening, but I guess I can use the data1 and data2 setup that is giving the correct answer.

Any thoughts on a cause?

Regards,
Jack

[TheRumpledOne]

TRO,
An interesting phenomenon with the _TR_PB_Middle. I put both 60 min & 5 min in the same workspace as data1 and data2 with the PB Middle on both data1 and data2.

If I put the 60 min as data1 and 5 min as data2, the paint bar looks fine on the 60 min plot, but on the 5 min it only paints the bars 'on the hour'.

If I put the 5 min as data1 and 60 min as data2, the paint bar looks correct on both plots. (Matched against separate window with PB Middle on each time frame.)

I have looked at the code and there doesn't appear to be anything that would cause this result.

Not sure why this is happening, but I guess I can use the data1 and data2 setup that is giving the correct answer.

Any thoughts on a cause?

Regards,
Jack

Make sure you have the subplot right on both instances of the middle paint bar.

[jhtumblin]

Interesting that you just happend to post about the 60 min overlay on the 5 min. I just happened to modify the showme a few nights ago just to serve this purpose.

Instructions: Load up a 1,5,3 or whatever chart and then insert the 30 or 60 min chart on top of that. Apply this indicator to the larger timeframe and it will mark the previous bar's middle in purple and the current middle in yellow underneath the smaller timeframe.

There is code commented out where I attempted to draw trendlines to the prior bar, but it just kept drawing a new trendline for the current middle every time the price updated, resutling in 3 billion lines which lags out the chart eventually. If anybody can fix that, I think it would be better than what it is now.

Code: Select all

//[LegacyColorValue = true];

//Middle Showme Overlay
//Original Work: Avery Horton
//Modified: Jarrad Tumblin
//06-15-06



inputs:
   
   trendColorPrev(RGB(170,85,255)),
   trendColorCur(RGB(255,255,0)),
   
   iPlotColor(magenta),
   iPlotColor2(cyan);
   

Variables:
   
   PrevMid( 0 ),
   CurMid(0),
   CurEnd(0),
   aTrendLineID( 0 ),
    bTrendLineID(0),
   aTrendLineAction3(0),
   bTrendLineAction3(0),
   aOldKey(-1),
   bOldKey(-1);

//Calculations

   PrevMid = (High[1] + Low[1]) / 2;
   CurMid = (High + Low) / 2;
   CurEnd = CurMid;



plot1( PrevMid, "PrevMid", trendColorPrev);
plot2( CurMid, "CurMid", trendColorCur);

{If LastBarOnChart then
   begin
       
     aOldKey = aTrendLineID;
      aTrendLineID = TL_New(date, time, PrevMid, date[1], time[1], ((High + Low) / 2)[1]);
     TL_SetColor(aTrendLineID, trendColorPrev);
     TL_SetSize(aTrendLineID, 2);
    
   
     bOldKey = bTrendLineID;
     bTrendLineID = TL_New(date, time, CurMid, date[1], time[1], CurEnd);
     TL_SetColor(bTrendLineID, trendColorCur);
     TL_SetSize(bTrendLineID, 2);
    
     if aOldKey <> -1 then begin
        aTrendLineAction3 = TL_Delete(aOldKey);
      aOldKey = -1;

        
     if bOldKey <> -1 then begin
         bTrendLineAction3 = TL_Delete(bOldKey);
      bOldKey = -1;
   

end;
end;
end;}



ScreenShot: The Orange bars are the 60 min overlay.

[TheRumpledOne]

LOOKS LIKE I AM NOT THE ONLY ONE WORKING THE MIDDLE !

http://www.currencytradermag.com/mbe70.htm

Download the previous month and look at page 30.

[TheRumpledOne]

jhtumblin

Are you using charts because you don't have radar?

I would much rather let radar analyze multiple time frames:



I can quickly see if I should enter/wait or hold/exit on 6 time frames.

Chart's advantage is historical perspective but having the computer give me trading signals on radar is a bigger advantage, IMHO.

Not to mention the computer does all the calculations for me. I know exactly how far the price is from the middle... I don't have to process that off the chart. !

[jhtumblin]

I do have radar and I agree with you about having a quicker reference, however I am so accustomed to discretionary trading based on Richard Wyckoff's methods that I rarely reference it.

I don't even trade the middle right now (blasphemy?) even though I think you have developed a great system and the profit potential is solid. Either way I have many opinions and few conclusions, so I will continue to investigate everything until probably the end of time.

[TheRumpledOne]

Would you please post your Richard Wyckoff's methods entry/exit rules?