TRO 2 CANDLE TRADE INDICATOR

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TheRumpledOne
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TRO 2 CANDLE TRADE INDICATOR

Postby TheRumpledOne » Mon Nov 27, 2006 7:47 pm

While in my PalTalk chatroom, I was calling out the AAPL trade direction based on the 5 min and 60 min chart. So why not just make an indicator!?!?




ELD and Workspace attached.

Download and import the ELD first, THEN download and save the workspace.
Attachments
TRO_2_CANDLE_TRADE.ELD
(6.13 KiB) Downloaded 619 times
TRO_2_Candle_Trade.tsw
(32 KiB) Downloaded 549 times

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Postby jgear55 » Mon Nov 27, 2006 8:20 pm

esignal ones coming along? thanks TRO
your the man.

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Postby TheRumpledOne » Mon Nov 27, 2006 8:42 pm

LOL... Yes, I could do one for eSignal... but I don't really need to.

Use the TRO_SM_CONTROL_PMSM5.

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Adaptation resulting in "Flower Trade Indicator"

Postby rkave » Fri Mar 02, 2007 10:11 pm

The concept is to go long at previous bar mid point when candles in 2 different time frames (of your choise) are green. This indicator plots a blue cross (user input) when price is above the open of the larger time frame and the current bar open is below the previous bar mid point. If that price is reached then it will plot a magenta dot inside the cross to let you know that conditions were met.
The reverse is true for shorts.
THIS HAS NOT BEEN TESTED IN REAL MARKETS PLEASE USE WITH CAUTION AND NOT BEFORE PAPER TRADING IT FOR A FEW MONTHS.
Inputs:
1) BarsToStudy is used to simulate the larger time frame, for example if you are using 5 min chart and you input 3 on the BarsToStudy then you will be simulating a 15min candle (5min X 3).
2) Distance2Open is used to filter some trades and it is used to compare
previous bar mid with large time frame open and if they are too close then it will not plot a cross.



ELD is attached
Attachments
_RK_FLOWER_TRADE.ELD
(4.19 KiB) Downloaded 153 times

reb
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Postby reb » Fri May 11, 2007 1:18 pm

On the Tro2CandleTrade, I have the colors Yellow, Cyan and Magenta. I don't know how they are used.

reb

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Re: Adaptation resulting in "Flower Trade Indicator&quo

Postby jtrade » Fri May 11, 2007 2:24 pm

rkave wrote:The concept is to go long at previous bar mid point when candles in 2 different time frames (of your choise) are green. This indicator plots a blue cross (user input) when price is above the open of the larger time frame and the current bar open is below the previous bar mid point. If that price is reached then it will plot a magenta dot inside the cross to let you know that conditions were met.
The reverse is true for shorts.
THIS HAS NOT BEEN TESTED IN REAL MARKETS PLEASE USE WITH CAUTION AND NOT BEFORE PAPER TRADING IT FOR A FEW MONTHS.
Inputs:
1) BarsToStudy is used to simulate the larger time frame, for example if you are using 5 min chart and you input 3 on the BarsToStudy then you will be simulating a 15min candle (5min X 3).
2) Distance2Open is used to filter some trades and it is used to compare
previous bar mid with large time frame open and if they are too close then it will not plot a cross.



ELD is attached


Thanks, rkave, for an interesting indicator.

J.

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Postby TheRumpledOne » Fri May 11, 2007 5:03 pm

reb wrote:On the Tro2CandleTrade, I have the colors Yellow, Cyan and Magenta. I don't know how they are used.

reb


cyan = go long

yellow = wait

magenta = go short
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby Blue Rhino » Sun May 13, 2007 10:49 am

TheRumpledOne wrote:
reb wrote:On the Tro2CandleTrade, I have the colors Yellow, Cyan and Magenta. I don't know how they are used.

reb


cyan = go long

yellow = wait

magenta = go short


Thanks!

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Postby Susana » Mon May 14, 2007 1:09 am

Avery,

Possibly a bit tricky but ever thought of coding a 2 Candel Trade Indicator for tick/volume charts ?

ie 89 tick chart and 377 tick chart

At the present time it cannot be done with conventional methods.

I know it would very useful for me as I'm not a fan of time based charts yet love the 2 Candle Trade indicator.

Hope Belgium is going well.

Susana

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Postby TheRumpledOne » Mon May 14, 2007 6:15 pm

Just load the indicator into a chart that has 89 and 377 ticks and it should work.

Today, it's raining in Antwerp.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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