Wyckoff's method is purely discretionary based on volume and price action (not sure if you're familiar with it). There really is no solid entry or exit rules I can think of that can be coded.
In the picture I have labeled some of the general ideas behind his teachings, if you can code it I think it would be no less than 10,000 lines and I would hand deliver a check to your doorstep. I sure haven't figured out how.
Note: Wyckoff is more complex than this but I don't know if I can provide a 4yr education in one post
The Middle indicator
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- TheRumpledOne
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- TheRumpledOne
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BAKROB wrote:TRO
Re your June 16 Chart above (posted on June 17) showing the Magenta + middle crosses and the Gray + Middle Crosses ...
WHAT IS THE INDICATOR YOU USED TO SHOW THE CROSSES?
Thanks
BAKROB
The showme I wrote:
Code: Select all
{ _SHME_MID_PL_I intraday version }
{Attn: TradeStation
if this indicator is posted on the TradeStation Forum, I, TheRumpledOne, did NOT post it there,
so I can't be blamed for this indicator having my contact info.}
{Programmer: Avery T. Horton, Jr. aka TheRumpledOne,
gifts and donations accepted, PO Box 43575, Tucson, AZ 85733 }
{ © Copyright 2006 Avery T. Horton, Jr.}
inputs:
iMode("P"), // P=Plot, T=Trendline
iShowPrice( false),
iOpen( open[1] ),
iClose( close[1] ),
iDecimals( 4 ),
iPlotColor( magenta ),
iPlotColor2( cyan ),
iStyleTimeLine ( tool_dotted),
iStyleStartLine ( tool_dashed),
iTL_Style( tool_solid),
TLSize( 0),
TL_Text_HVal ( 0) ,
TL_Text_VVal ( 2) ,
iResetEachBar(true);
Vars:
tAlert(""),
MyBufferName1(""),
Version1(0),
BufferHandle1(0),
N1(0),
Meter1(0),
Lag1(0),
textTop(0),
textBottom(0),
texthigh(0),
textlow(0),
xText1(0),
xText2(0),
xText3(0),
xPM( 0 ),
xTextPM( 0 ),
tlPM(0),
TL_TextTime( 0 ) ,
PLTop( 0 ),
PLBottom( 0 ),
HavePrevLines( false ),
TLBottom( 0 ),
TLHigh( 0 ),
TLLow( 0 ),
TLTop( 0 ),
DayTop( 0 ),
DayBottom( 0 ),
DayHigh( 0 ),
PrevDayMid( 0 ),
DayMid( 0 ),
DayLow( 0 ) ;
variables:
tTradeMsg1(""),
tTradeMsg2(""),
tTradeMsg3(""),
tBlank(" "),
HighOffset( 0 ),
LowOffset( 0 ),
AvgRange( 0 );
{ processing }
TL_TextTime = AddTime( time , 3 * BarInterval ); // use to right adjust text
DayBottom = minlist( iOpen , iClose );
DayTop = maxlist( iOpen , iClose );
DayHigh = High ;
DayLow = Low ;
DayMid = ( High + Low ) / 2 ;
PrevDayMid = ( High[1] + Low[1] ) / 2 ;
AvgRange = Average(Range,5) * .33;
HighOffset = High + AvgRange;
LowOffset = Low - AvgRange;
PLTop = DayHigh - maxlist( PrevDayMid, low );
If PLTop <= 0
then PLTop = 0 ; // no trade
PLBottom = minlist( PrevDayMid, high) - DayLow ;
If PLBottom <= 0
then PLBottom = 0 ; // no trade
If iShowPrice
then begin
tTradeMsg1 = "P/L = " + numtostr( PLTop , iDecimals ) ;
tTradeMsg2 = "P/L = " + numtostr( PLBottom , iDecimals ) ;
tTradeMsg3 = "" ;
xText1 = Text_New(Date, Time, HighOffset, tTradeMsg1);
Text_SetStyle(xText1 , 2, 1);
xText2 = Text_New(Date, Time, LowOffset, tTradeMsg2);
Text_SetStyle(xText2 , 2, 0);
Text_SetLocation(xText1,Date, Time, HighOffset );
text_setstring(xText1,tTradeMsg1);
Text_SetLocation(xText2,Date, Time, LowOffset );
text_setstring(xText2,tTradeMsg2);
Plot3(Highest(high+AvgRange*2,10));
Plot4(Lowest(low-AvgRange*2,10));
end; // If iShowPrice
if iMode = "P"
then begin
plot1( PrevDayMid , "PrevMid", iPlotColor );
plot2( DayMid , "Mid", iPlotColor2 );
end; // if iMode = "P"
if iMode = "T"
then begin
if date <> date[1] then
begin
tlPM = tl_new( date , time , PrevDayMid , date , time , PrevDayMid );
tl_SetColor(tlPM,iPlotColor);
xTextPM = Text_New(Date, TL_TextTime , PrevDayMid , "PrevMid ("+ NumToStr( PrevDayMid , iDecimals )+")") ;
Text_SetLocation(xTextPM , date , TL_TextTime , PrevDayMid );
Text_SetStyle(xTextPM, TL_Text_HVal , TL_Text_VVal );
Text_SetColor(xTextPM, iPlotColor );
end;
tl_SetEnd(tlPM, date , time , tl_GetBeginVal(tlPM));
Text_SetLocation(xTextPM , date , TL_TextTime , PrevDayMid );
end; // if iMode = "T"
- TheRumpledOne
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Created an indicator to just display the values of the top, middle and bottom.
KEEPING IT SIMPLE!
- Attachments
-
- TRO_TMB_TRADE.ELD
- (15.41 KiB) Downloaded 277 times
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" LOOKS LIKE I AM NOT THE ONLY ONE WORKING THE MIDDLE ! "
Others like the idea.
I found this interesting.
BY: FiveV
Indicator: Channel Midpoint
Strategy Type: Trend-Following
Definition: the middle line between the two boundaries of a standard Donchian breakout channel
Characteristic: follows the trend like moving averages but has the unique characteristic of remaining unchanged (flat) during periods of consolidation.
Use: can be beneficial in distinguishing between trending and non-trending periods
Origin of Idea to Code: Article in Currency Trader Magazine, May 2006 edition. Also in Active Trader Magazine, July 2006 edition.
The code is based on the midpoints of two Donchian Channels of different lengths. This gives it the appearance of a two-line moving average crossover indicator, but displays the "flat" periods when the market price action is directionless. Adjust the Lengths, line styles and colors to suit . . .
[LegacyColorValue = true];
//Topic_ID=53495
{ Channel Midpoint Indicator - Currency Trader May 2006
based on the midpoints of two Donchian Channels of different lengths }
{also in Active Trader Mag July 2006 pg 40}
Inputs: Length1(7), Length2(21),Length3(1),Price1(H),Price2(L);
Variables: Channel1(0),Channel2(0);
Value1 = xaverage(Highest(Price1,Length1),Length3);
Value2 = xaverage(Lowest(Price2,Length1),Length3);
Value3 = xaverage(Highest(Price1,Length2),Length3);
Value4 = xaverage(Lowest(Price2,Length2),Length3);
Channel1 = Value2+((Value1-Value2)/2){(value1+value2)/2};
Channel2 = Value4+((Value3-Value4)/2){(value3+value4)/2};
Plot1(Channel1, "ChanMid1");
Plot2(Channel2, "ChanMid2");
rr
Others like the idea.
I found this interesting.
BY: FiveV
Indicator: Channel Midpoint
Strategy Type: Trend-Following
Definition: the middle line between the two boundaries of a standard Donchian breakout channel
Characteristic: follows the trend like moving averages but has the unique characteristic of remaining unchanged (flat) during periods of consolidation.
Use: can be beneficial in distinguishing between trending and non-trending periods
Origin of Idea to Code: Article in Currency Trader Magazine, May 2006 edition. Also in Active Trader Magazine, July 2006 edition.
The code is based on the midpoints of two Donchian Channels of different lengths. This gives it the appearance of a two-line moving average crossover indicator, but displays the "flat" periods when the market price action is directionless. Adjust the Lengths, line styles and colors to suit . . .
[LegacyColorValue = true];
//Topic_ID=53495
{ Channel Midpoint Indicator - Currency Trader May 2006
based on the midpoints of two Donchian Channels of different lengths }
{also in Active Trader Mag July 2006 pg 40}
Inputs: Length1(7), Length2(21),Length3(1),Price1(H),Price2(L);
Variables: Channel1(0),Channel2(0);
Value1 = xaverage(Highest(Price1,Length1),Length3);
Value2 = xaverage(Lowest(Price2,Length1),Length3);
Value3 = xaverage(Highest(Price1,Length2),Length3);
Value4 = xaverage(Lowest(Price2,Length2),Length3);
Channel1 = Value2+((Value1-Value2)/2){(value1+value2)/2};
Channel2 = Value4+((Value3-Value4)/2){(value3+value4)/2};
Plot1(Channel1, "ChanMid1");
Plot2(Channel2, "ChanMid2");
rr
- TheRumpledOne
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I saw that too.
I have been coding in eSignal this weekend.
It's been over 3 years and I am a bit rusty.
But check this out:
I color the background green if the price is above the previous day's middle and red if below.
Here's what it looks like on a 60 minute chart (easy to see the profit) :
Next is my Dynamic S/R indicator:
Have to use squares instead of dots...lol
Finally, I coded lines for the previous day's open, high, low, close and middle and lower indicator to show the profit since the crossover.
Working on converting the MSheiner scalper indicator.
I have been coding in eSignal this weekend.
It's been over 3 years and I am a bit rusty.
But check this out:
I color the background green if the price is above the previous day's middle and red if below.
Here's what it looks like on a 60 minute chart (easy to see the profit) :
Next is my Dynamic S/R indicator:
Have to use squares instead of dots...lol
Finally, I coded lines for the previous day's open, high, low, close and middle and lower indicator to show the profit since the crossover.
Working on converting the MSheiner scalper indicator.
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