Scalper

[Gumphrie]

Requested by pdawg. This is an indicator that looks for higher highs and lower lows.
Inspired by John Carter's TTMScalper. There is a video at http://www.tradethemarkets.com/products/item7.cfm

I haven't tested this much, so any feedback would be appreciated.




Note it will work on OHLC and HiLowBars also, but you may want to change the default Scalper bar colour in properties from Lavender in order to actually see the bars.


To import:

- Download the file contained in this thread to your desktop
- From the Control Center window select the menu File > Utilities > Import NinjaScript
- Select the downloaded file

ChangeLog
v0.2 : Updated so paints one bar ahead and removed the period parameter as was pointless on alternative non-default values.
v0.3 : Fixed possible plotting error.
v0.5 : Updated 31st August. Fixed cpu usage problem & added alert arrows to highlight the current trigger bars
v0.6 : Updated 3rd March 2010. Added option for alert sounds on new scalper bars and new/lost trigger arrows
(v0.4 was the experimental version where the changes haven't made it into the final code)

[pdawg]

Thanks a bunch Gumphrie. I am loading this up as we speak and will let you know how it does.

[ceesvh]

Gumphrie

Is the link correct? I could not find the page.

[pdawg]

Gumphrie,

Seems like the right bar is being painted, but I'm not sure it is being painted when it's supposed to. After a 3rd higher close, if you get a lower close the low of the lower close bar is the trigger. A close below the low of the trigger bar should paint the high bar. It seems to be doing it later.

[Gumphrie]

Gumphrie

Is the link correct? I could not find the page.

Strange a "%29" gets added to the URL, not sure why. Take it off and its fine.

[Gumphrie]

Seems like the right bar is being painted, but I'm not sure it is being painted when it's supposed to. After a 3rd higher close, if you get a lower close the low of the lower close bar is the trigger. A close below the low of the trigger bar should paint the high bar. It seems to be doing it later.

I think it only paints the bar after the period has passed. Does that answer the question? I'm not sure.

[pdawg]

Not sure unless maybe I am misunderstanding the method. But after watching the video, and then watching the bars, seems like when the trigger bar has been violated by a close below it, it should then paint the high bar upon close of that lower confirming bar. As I watch it seem to do it later than that?

[Gumphrie]

Not sure unless maybe I am misunderstanding the method. But after watching the video, and then watching the bars, seems like when the trigger bar has been violated by a close below it, it should then paint the high bar upon close of that lower confirming bar. As I watch it seem to do it later than that?

This is really hard for me to test. Does changing the "else if" in the middle of OnBarUpdate to a plain "if" fix it? When it seems to painting too late, how much later is it?

[pdawg]

seems like a couple bars late, and when it does change color the bar that triggers the color change doesn't really violate anything, so it seems to be off a bit. I will try changing the else if, that might be throwing it off.

[pdawg]

OK, I think I see whats happening. After watching it this morning i did some replays, and it paints the bar after an opposite swing pivot is in place. So thats why it was getting painted late. I'm a C# noob, so not sure where the logic is messed up, but changing the else if to if, didn't change anything as far as I can tell.

[Gumphrie]

Ok, after staring at it for a while I can see that it can do the painting one bar ahead of time. I'm not sure if that fixes the problem or not, so if you can confirm pdawg, that would be great. I've updated the attachment in the first post.

I've also managed to fix that link in the first post.

[pdawg]

Gumphrie,

Yes that prints 1 bar sooner, however it appears that it should still print one bar sooner than that. When the trigger bar low is broken by a close of a latter bar, instead of printing on that bar's close it is taking it an extra bar to print. If you can fix that, I think it will be good to go.

Thanks.

[Gumphrie]

Yes that prints 1 bar sooner, however it appears that it should still print one bar sooner than that.

Ok, try it now. Thanks for testing this, I don't use replays, so can't see whats happening fast enough.

[pdawg]

Gumphrie,

Thanks I will test in a bit. Here is an interesting paint setup from Carter's video today:

http://www.tradethemarkets.com/public/1074.cfm

go to the 3:20 mark in the video, and notice how it paints that bar. Looks like that bar violated the low of the previous trigger bar, but since it made a higher high, it got painted.

[pdawg]

Gumphrie,

I think you just about got it. Bars are painting at the appropriate bar close. I just came across this paint setup (see attached screenshot). The first scalper painted correctly, however I'm doubting the second one should have. I don't think it falls under the 3 lower closes rule, however did paint correctly as if it did, on the close of the following 3rd blue bar. So maybe it's looking at the extreme bar a little differently than the TTM trend is setup to do?

Anyhow, I'll keep testing it and keep you posted.

Thanks for your hard work.

P