TRO BUY ZONE - KEEP IT SIMPLE

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2.klever
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Postby 2.klever » Thu Jun 07, 2007 8:07 pm

I have been trying to figure out the same thing. How to rate the statistics of various price levels or visualize the Buy zone with eithere stats or an image similar to that described in this thread.

http://kreslik.com/forums/viewtopic.php?t=731

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Postby TheRumpledOne » Fri Jun 08, 2007 5:47 pm

Tyler19 wrote:TRO how do you determine the opening price for each pair? I use QuoteTracker so I have to make the lines manually



Look at where the candle starts, that's the open.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheRumpledOne » Fri Jun 08, 2007 5:48 pm

BlowFish wrote:
TheRumpledOne wrote:I used statistics to determine the zones.

Yes, the whole herd uses the same zone.


Hi Avery,

Do you pull data into Excel or something? Or is TS adequate. I guess you are looking for numbers that historically if they break go for at least X points a high percentage (Y) of times? just interested in learning a bit more about the process used to come up with numbers? I'd like to have a crack applying the concept to other instruments (DAX is appealing)

Thanks :)


I use the statistics indicators I wrote for TradeStation.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Shane280us » Fri Jun 08, 2007 10:47 pm

This maybe a simple question but when using this indicator to enter a trade what indicator do you use to exit ? anything specific or are you looking at the Level II and then deciding the trade is turning based on bids/asks?

any help appreciated.

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Postby TheRumpledOne » Sat Jun 09, 2007 5:43 am

After you enter a trade, PRICE is the only indicator that matters!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Shane280us » Sun Jun 10, 2007 4:04 pm

TRO I'm trading the AUD and the JPY agains the USD. So what I see is once the price has crossed the zone it generally trends in that direction for the remainder of the session. Not really providing me with multipule times to gain 2-3 pips, unless I trade out of the zone (I know you've advised not to do it). So should I just set a trailing stop and let it ride ? Once the price enters the buy zone at aroun 17:00, I make my couple of PIPs then exit, missing out on what then occurred as the price continued. Should I be using a Stop+Trailing Stop?

I've attached a picture of what I mean.
Attachments
Tradezone AUD.png
Tradezone AUD.png (23.71 KiB) Viewed 1038 times

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Postby TheRumpledOne » Sun Jun 10, 2007 4:21 pm

Shane:

Don't let the LURE OF THE BIG PIPS get you! You are NOT MISSING OUT!!

If you net 2 - 4 pips a day, every day, you are rich!!

In the chart you post, I see one short and one long trade from 16:00 to 17:00. Why push it?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Shane280us » Sun Jun 10, 2007 5:34 pm

TRO - Gotcha, thats where I had started from initially, just small PIP grabs each time 2-4. But wanted to make sure I wasn't doing something wrong. Thanks for setting me straight and I'll go back to being 2% consistant each day as I gain more experience.

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Postby orion1012 » Mon Jun 11, 2007 12:24 am

Hi Could someone post the buy zone code, I have TS2000i so I cant download(use) ELD files.

Thanks

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Postby TheRumpledOne » Mon Jun 11, 2007 12:31 am

Code: Select all


{ _TRO_BuyZone }
   

{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 2007 Avery T. Horton, Jr.}


// Value1 = GetAppInfo(aiApplicationType);        // returns a value that identifies the calling window type

// cUnknown = 0 cChart = 1  cRadarScreen = 2 cOptionStation = 3


inputs:
iDecimals(4),
iOpen(dailyopen),   
iOpenBuyZone(.1),
   
iBuyZoneHI(.2),           {inside ask must be <= (OPEN + iBuyZoneHI) to place buy order}
iBuyZoneLO(.2),          {inside bid must be >= (OPEN - iBuyZoneLO) to place buy order}

iPlotOpen(true),
 
   
   ShortBotColor( red),
   ShortTopColor( red),
   OpenColor(white),
   LongTopColor( blue),
   LongBotColor( blue) ,

TLSize( 0 ),        // 0 - 6 for thin to thick
TLStyle( 2 ),      //  1 = solid, 2 = dashed, 3 = dotted, 4 = dashed 2, 5 = dashed 3

TL_Text_HVal ( 0 ) ,    // HVal: 0=left, 1=right, 2=centered,
TL_Text_VVal ( 1 ) ;   //  VVal: 1=Top, 0=Bottom, 2=Centered
 
   
variables:

FG1(white),
BG1(black),

FG2(white),
BG2(black),

FG3(white),
BG3(black),

FG4(white),
BG4(black),


   PrevSessionDate( 0 ),
   PrevSessionTime(0),
   PrevSessionHigh( 0 ),
   PrevSessionLow( 0 ),
   PrevSessionClose( 0 ),
   PrevSessionMid( 0 ),
   PrevSessionOpen( 0 ),   
   SessionDate( 0 ),
   SessionTime(0),
   SessionOpen( 0 ),
   SessionClose( 0 ),
   SessionHigh( 0 ),
   SessionLow( 0 ),
   PrevSession(999999),
 

Candle(0),
CandleDaily(0),
ShortDiff( 0 ),
LongDiff( 0 ),
tShortDiff( "" ),
tLongDiff( "" ),
BuyZone( 0 ),
xBuyZone(0),
tBuyZone(""),


sSession(false),


sFirstPass(true),
xAppType(0),

TL_TextTime( 0 ),    
 

xDailyOpen(0),

xBuyZoneHI(0),           {inside ask must be <= (OPEN + iBuyZoneHI) to place buy order}
xBuyZoneLO(0),          {inside bid must be >= (OPEN - iBuyZoneLO) to place buy order}

textShortBot(0),
textShortTop(0),

textLongTop(0),
textLongBot(0),

textOpen(0),

TLOpen( 0 ),

   HavePrevLines( false ),
   TLShortTop( 0 ),
   TLLongTop( 0 ),
   TLLongBot( 0 ),
   TLShortBot( 0 ),
   ShortBot( 0 ),
   ShortTop( 0 ),
   LongTop( 0 ),
   LongBot( 0 ) ;

{commentary variables}
      
variables:
         
xcomm(0),
oComm1( "" ),    
oComm2( "" ),    
oComm3( "" ),    
oComm4( "" ),    
oComm5( "" ),
oComm6( "" ),
oComm7( "" ),
oComm8( "" ),
oComm9( "" ),    
oComm10( "" );
   
 


{first time through}

if sFirstPass
then begin
   
sFirstPass = false;

xAppType = GetAppInfo(aiApplicationType);        // cUnknown = 0 cChart = 1  cRadarScreen = 2 cOptionStation = 3

end; {if sFirstPass}


{ INITIALIZE }

FG1 = WHITE;
BG1 = BLACK;

fg2 = WHITE;
bg2 = BLACK;

fg3 = WHITE;
bg3 = BLACK;

fg4 = WHITE;
bg4 = BLACK;

{*************************************************}
{    C A L C U L A T I O N S                      }
{*************************************************}

Commentary(" ");

Commentary("CurrentSession(0)  = ", numtostr( CurrentSession(0), 0 ) , NewLine);
Commentary("PrevSession  = ", numtostr( PrevSession, 0 ) , NewLine);

sSession = false ;

if CurrentSession(0) <> PrevSession
then begin
   
   sSession        = true ;
   PrevSessionOpen  = SessionOpen;
   PrevSessionDate  = SessionDate;
   PrevSessionTime  = SessionTime;
   PrevSessionClose = close[1];
   PrevSessionHigh  = SessionHigh;
   PrevSessionLow   = SessionLow;

   SessionDate      = date;
   SessionTime       = time;
    SessionOpen      = iOpen;
    SessionHigh      = iOpen;
   SessionLow       = iOpen;
   PrevSession      = CurrentSession(0);
   PrevSessionMid   = ( PrevSessionHigh + PrevSessionLow ) * .50  ;

end; // if CurrentSession(0) <> PrevSession

if High > SessionHigh then
SessionHigh = High ;

if Low < SessionLow then
SessionLow = Low ;

 
if d <> currentdate
   then xDailyOpen = Opend(0) 
   else xDailyOpen = SessionOpen ;
 
   
// xDailyOpen = SessionOpen ;

LongTop      = xDailyOpen + iBuyZoneHI;
LongBot      = xDailyOpen + iOpenBuyZone;

ShortTop   = xDailyOpen - iOpenBuyZone;
ShortBot   = xDailyOpen - iBuyZoneLO;

ShortDiff   = ShortTop - close  ;
LongDiff   = close - LongBot  ;

tShortDiff   = numtostr( ShortDiff , iDecimals ) ;
tLongDiff   = numtostr( LongDiff , iDecimals ) ;


if xAppType = 1
then begin
   
TL_TextTime = AddTime( Time , 2 * BarInterval ) ;

{*************************************************}
   
      
if date this bar = currentdate
then begin

if HavePrevLines
then begin

If TLShortTop > 0
   then value9      = TL_Delete( TLShortTop ) ;

If TLLongTop > 0
   then value9      = TL_Delete( TLLongTop ) ;

If TLLongBot > 0
   then value9      = TL_Delete( TLLongBot ) ;

If TLShortBot > 0
   then value9      = TL_Delete( TLShortBot ) ;

If TLOpen > 0
   then value9      = TL_Delete( TLOpen ) ;

end ;  // if HavePrevLines

{ insert the new lines and set their colors/extents }

      TLShortTop = TL_New( SessionDate, SessionTime, ShortTop, Date, Time, ShortTop ) ;
      TLLongTop  = TL_New( SessionDate, SessionTime, LongTop, Date, Time, LongTop ) ;
      TLLongBot  = TL_New( SessionDate, SessionTime, LongBot, Date, Time, LongBot ) ;
      TLShortBot = TL_New( SessionDate, SessionTime, ShortBot, Date, Time, ShortBot ) ;
      
      TL_SetColor( TLShortTop, ShortTopColor ) ;
      TL_SetColor( TLLongTop, LongTopColor ) ;
      TL_SetColor( TLLongBot, LongBotColor ) ;
      TL_SetColor( TLShortBot, ShortBotColor ) ;
   
      TL_SetStyle(TLLongTop,TLStyle);
      TL_SetStyle(TLLongBot,TLStyle);
      TL_SetStyle(TLShortTop,TLStyle);
      TL_SetStyle(TLShortBot,TLStyle);

      TL_SetExtLeft( TLShortTop, false ) ;
      TL_SetExtLeft( TLLongTop, false ) ;
      TL_SetExtLeft( TLLongBot,false ) ;
      TL_SetExtLeft( TLShortBot,false ) ;

      TL_SetExtRight( TLShortTop, true ) ;
      TL_SetExtRight( TLLongTop, true ) ;
      TL_SetExtRight( TLLongBot, true ) ;
      TL_SetExtRight( TLShortBot, true ) ;

      if iPlotOpen
      then begin
      TLOpen     = TL_New( SessionDate, SessionTime, xDailyOpen, Date, Time, xDailyOpen ) ;
      TL_SetColor( TLOpen, OpenColor ) ;
      TL_SetStyle(TLOpen,TLStyle);
      TL_SetExtLeft( TLOpen,false ) ;
      TL_SetExtRight( TLOpen, true ) ;
      end;  //    if iPlotOpen


      { set flag }
      if HavePrevLines = false
         then HavePrevLines = true ;

end ; // if date this bar <> currentdate


If textShortBot > 0
   then value9      = Text_Delete( textShortBot ) ;

      textShortBot = Text_New(Date, TL_TextTime ,ShortBot,"ShortBot ("+ NumToStr(ShortBot, iDecimals )+")");
      Text_SetStyle(textShortBot, TL_Text_HVal , TL_Text_VVal );
      Text_SetColor(textShortBot, ShortBotColor );
      Text_SetLocation( textShortBot , date , TL_TextTime , ShortBot );

If textShortTop > 0
   then value9      = Text_Delete( textShortTop) ;

      textShortTop = Text_New(Date,  TL_TextTime  ,ShortTop,"ShortTop ("+ NumToStr(ShortTop, iDecimals )+")");
      Text_SetStyle(textShortTop, TL_Text_HVal , TL_Text_VVal  );  //   HVal: 0=left, 1=right, 2=centered, / VVal: 0=Top, 1=Bottom, 2=Centered
      Text_SetColor(textShortTop, ShortTopColor );
      Text_SetLocation( textShortTop , date , TL_TextTime , ShortTop );

If textLongTop > 0
   then value9      = Text_Delete( textLongTop) ;

      textLongTop = Text_New(Date,   TL_TextTime ,LongTop,"LongTop ("+ NumToStr(LongTop, iDecimals )+")");
      Text_SetStyle(textLongTop, TL_Text_HVal , TL_Text_VVal  );  //   HVal: 0=left, 1=right, 2=centered, / VVal: 0=Top, 1=Bottom, 2=Centered
      Text_SetColor(textLongTop, LongTopColor );
      Text_SetLocation( textLongTop , date , TL_TextTime , LongTop );

If textLongBot > 0
   then value9      = Text_Delete( textLongBot ) ;

      textLongBot = Text_New(Date,  TL_TextTime ,LongBot,"LongBot ("+ NumToStr(LongBot, iDecimals )+")");
      Text_SetStyle(textLongBot,TL_Text_HVal , TL_Text_VVal  );  //   HVal: 0=left, 1=right, 2=centered, / VVal: 0=Top, 1=Bottom, 2=Centered
      Text_SetColor(textLongBot, LongBotColor );
      Text_SetLocation( textLongBot , date , TL_TextTime , LongBot );


If textOpen > 0
   then value9      = Text_Delete( textOpen ) ;

      textOpen = Text_New(Date,  TL_TextTime , xDailyOpen ,"Open ("+ NumToStr(xDailyOpen, iDecimals )+")");
      Text_SetStyle(textOpen,TL_Text_HVal , TL_Text_VVal  );  //   HVal: 0=left, 1=right, 2=centered, / VVal: 0=Top, 1=Bottom, 2=Centered
      Text_SetColor(textOpen, OpenColor );
      Text_SetLocation( textOpen , date , TL_TextTime , xDailyOpen );


end ; // if xAppType = 1


if xAppType = 2
then begin


candle = close - open ;

//CandleDaily = close - closeD(1)  ;
CandleDaily = close - PrevSessionClose  ;
   
{ Alert criteria }


If candle    > 0
then begin
   Fg3 = BLACK;
   Bg3 = green;
end
else
If candle    < 0
then begin
   Fg3 = BLACK;
   Bg3 = red;
end
else
begin
   Fg3 = yellow;
   Bg3 = BLACK;
end;

If CandleDaily    > 0
then begin
   Fg4 = BLACK;
   Bg4 = green;
end
else
If CandleDaily    < 0
then begin
   Fg4 = BLACK;
   Bg4 = red;
end
else
begin
   Fg4 = yellow;
   Bg4 = BLACK;
end;

If close < xdailyopen
and close > ShortTop
then begin
   tBuyZone = "Wait " + tShortDiff ;
   FG1 = RED;
   BG1 = YELLOW;
end
else
If close > xdailyopen
and close < LongBot
then begin
   tBuyZone = "Wait " + tLongDiff ;
   FG1 = BLACK;
   BG1 = YELLOW;
end;

If close crosses below xdailyopen
then begin
   tBuyZone = "X Open " + tShortDiff ;
   FG1 = RED;
   BG1 = YELLOW;
end
else
   
If close crosses above xdailyopen
then begin
   tBuyZone = "X Open " + tLongDiff ;
   FG1 = BLACK;
   BG1 = YELLOW;
end
else

If close crosses below LongTop
then begin
   tBuyZone = "X LgTOP " + tLongDiff ;
   FG1 = RED;
   BG1 = YELLOW;
end
else

If close crosses above LongBot
then begin
   tBuyZone = "X LgBOT " + tLongDiff ;
   FG1 = BLACK;
   BG1 = YELLOW;
end
else
   
If close > LongTop
then begin
   tBuyZone = "ABOVE " + tLongDiff ;
   FG1 = GREEN;
   BG1 = BLACK;
end
else

If close crosses below ShortTop
then begin
   tBuyZone = "X ShTOP " + tShortDiff ;
   FG1 = red;
   BG1 = YELLOW;
end
else

If close crosses above ShortBot
then begin
   tBuyZone = "X ShBOT " + tShortDiff ;
   FG1 = black;
   BG1 = YELLOW;
end
else
   
If close < ShortBot
then begin
   tBuyZone = "BELOW " + tShortDiff ;
   FG1 = RED;
   BG1 = BLACK;
end
else
   
If close > LongBot
and close <= LongTop
then begin
   tBuyZone = "BUY " + tLongDiff ;
   FG1 = BLACK;
   BG1 = green;
end
else
   
If close >= ShortBot
and close < ShortTop
then begin
   tBuyZone = "SHORT " + tShortDiff ;
   FG1 = BLACK;
   BG1 = red;
end;


if close > prevclose
then begin
   FG2 = BLACK;
   BG2 = green;
end
else
if close < prevclose
then begin
   FG2 = yellow;
   BG2 = BLACK;
end;


{ PLOTS }

Plot1( tBuyZone, "BuyZone", fg1 ) ;
SetPlotBGColor( 1, bg1);

Plot2( xdailyopen, "dailyopen", FG2 ) ;
SetPlotBGColor( 2, BG2);

Plot3( candle, "Candle", fg3 ) ;
SetPlotBGColor( 3, bg3);

Plot4( CandleDaily, "Dly Candle", fg4 ) ;
SetPlotBGColor( 4, bg4);

Plot5( SessionTime, "Start", WHITE ) ;
SetPlotBGColor( 5, BLACK);

end ; // if xAppType = 2


xComm = _fCommentary(oComm1, oComm2, oComm3, oComm4, oComm5, oComm6, oComm7, oComm8, oComm9, oComm10);

CommentaryCl(oComm1 );

CommentaryCl(oComm2 );
CommentaryCl(oComm3 );
CommentaryCl(oComm4 );
CommentaryCl(oComm5 );
CommentaryCl(oComm6 );
CommentaryCl(oComm7 );
CommentaryCl(oComm8 );
CommentaryCl(oComm9 );
CommentaryCl(oComm10 );

Commentary(" ");
CommentaryCl( "CurrentDate: ", ELDateToString(CurrentDate) );
CommentaryCl( "Date: ", ELDateToString(Date) );
Commentary("CurrentSession(0)  = ", numtostr( CurrentSession(0), 0 ) , NewLine);

Commentary(" ");

Commentary("Prev.Open  = ", numtostr( PrevSessionOpen,iDecimals) , NewLine);
Commentary("Prev.High  = ", numtostr( PrevSessionHigh,iDecimals) , NewLine);
Commentary("Prev.Low   = ", numtostr( PrevSessionLow,iDecimals) , NewLine);
Commentary("Prev.Close = ", numtostr( PrevSessionClose,iDecimals) , NewLine);
Commentary("Prev.Mid   = ", numtostr( PrevSessionMid,iDecimals) , NewLine);

Commentary(" ");

Commentary("Open   = ", numtostr( Open,iDecimals) , NewLine);
Commentary("Opend(0)  = ", numtostr( Opend(0),iDecimals) , NewLine);
Commentary("xdailyopen  = ", numtostr( xdailyopen ,iDecimals) , NewLine);
Commentary("SessionOpen  = ", numtostr( SessionOpen ,iDecimals) , NewLine);

Commentary(" ");

Commentary("LongTop   = ", numtostr( LongTop,iDecimals) , NewLine);
Commentary("LongBot   = ", numtostr( LongBot,iDecimals) , NewLine);
Commentary("ShortTop   = ", numtostr( ShortTop,iDecimals) , NewLine);
Commentary("ShortBot   = ", numtostr( ShortBot,iDecimals) , NewLine);


Commentary("iOpenBuyZone   = ", numtostr( iOpenBuyZone,iDecimals) , NewLine);
Commentary("iBuyZoneHI   = ", numtostr( iBuyZoneHI,iDecimals) , NewLine);
Commentary("iBuyZoneLO   = ", numtostr( iBuyZoneLO,iDecimals) , NewLine);
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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