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
TRO BUY ZONE - KEEP IT SIMPLE
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- TheRumpledOne
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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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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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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.
I've attached a picture of what I mean.
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- Tradezone AUD.png (23.71 KiB) Viewed 7595 times
- TheRumpledOne
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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?
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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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!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
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