Head and Shoulder Indicator

[aligator]

Hello all,

Having just had a very similar inquiry from a customer I have gone ahead and attempted to figure this out.

Idea:
Instead of rewriting every indicator that we want to grab inverse calculations from, we flip/mirror the data series and run the original indicators

Implementation:
Use MirrorBars Bar Type to flip the data series and apply the regular indicators

Issue:
MirrorBars returns negative OHLC values which many indicators are not coded to work with properly. For example, HSIdentify will not plot at all.

Solution:
I have rewritten the MirrorBars Bar Type with an additional parameter called "Positify". You want to set Positify to a value that is higher than the highest traded price in the non-mirrored version of data series you are viewing (to make sure all the bars are above zero). The default value is 3000.

Caveat:
The actual prices are not going to mean anything because we added an arbitrary value to them. This will not work with a very specific kind of indicator (that relies on absolute price values rather than price relationships/changes in price). This should however work with 90% of all indicators that are out there including the HSIdentify and HSBasicDef.

I have attached the new bar type to my post. It replaces MirrorBars so you have to delete the original MirrorBars Bar Type.

If you want the same results you would get with the original MirrorBars Bar Type just set "Positify" to 0.

How to add this bar type:
1. Exit NinjaTrader

2. Navigate to Documents\NinjaTrader 7\bin\Custom\Type and delete MirrorBar.cs and replace it with the new PosMirrorBar.cs.

3. Go back one folder to Documents\NinjaTrader 7\bin\Custom and delete NinjaTrader.Custom.dll

4. Open NinjaTrader

5. Navigate to Tools -> Edit NinjaScript -> Indicator -> [select any indicator] -> When the code editor pops up, press F5 on your keyboard to recompile

6. Exit NinjaTrader

7. Open NinjaTrader

8. Create a new chart using the PosMirrorBars bar type

Please let me know if you have any questions.

Hi Micheal,

Thanks a bunch for your efforts. Certainly a different approach as I mentioned earlier to Arbuthnot.

Cheers!

[outsource]

Hello,

I think it`s already written.So why re-invent the wheel?

[NinjaTrader_MichaelM]

Hello outsource,

Thank you for your input.

The implementation I provided was not specific to the HSIdentify or HSBasic Def indicators. They were simply used as an example for the concept.

Please let me know if you have any questions or if I may be of further assistance.

[aligator]

Hello,

I think it`s already written.So why re-invent the wheel?

Hi outsource,

Is that your own modified HSIdentify idncator? Also, is it open source or a compressed .dll file and how much it sells for?

Thanks.

[outsource]

Hi outsource,

Is that your own modified HSIdentify idncator? Also, is it open source or a compressed .dll file and how much it sells for?

Thanks.

No,it`s ''pvoodoo'' guys indicator and it`s dll file.It goes for $66,afair.I think you can negotiate the open source with Marko,but i`m not sure.You should try.

Regards

[arbuthnot]

This is the link:

http://pvoodoo.com/Home.html

[aligator]

Head and Shoulder Indicator - NT8

Hello outsource,

Thank you for your input.

The implementation I provided was not specific to the HSIdentify or HSBasic Def indicators. They were simply used as an example for the concept.

Please let me know if you have any questions or if I may be of further assistance.

Hello MichaelM,

The H&S pattern is statistically the most reliable and time tested price action pattern. Ryan M. created the HSIdentify and HSBasicDef indicators based on April and May 2013 TASC Traders' Tip.

There is a great deal of interest for a NT8 version of these indicators (i.e. 2900 views of this thread and the number of indicator downloads). I am not sure when Ninja might convert these indicators for NT8 but they are surely missed for NT8 as many active traders use H&S.

I have converted these indicators for NT8 using the conversion tools on this forum. Both indicators compiled fine but HSBasicDef will generate an error when applied to a chart:

"Error on calling"OnBarUpdate"method on bar #; Collection was modified; enumeration operation may not execute."

I can't see why this error is generated even after including some print statements (commented out).

I am attaching the NT8 version, perhaps someone (either Ninja or a Member) can fix this error and re-post the HSBasicDef indicator. I will then complete the conversion of both indicators and post them here for all.

Many thanks.

[outsource]

Hello MichaelM,

The H&S pattern is statistically the most reliable and time tested price action pattern. Ryan M. created the HSIdentify and HSBasicDef indicators based on April and May 2013 TASC Traders' Tip.

There is a great deal of interest for a NT8 version of these indicators (i.e. 2900 views of this thread and the number of indicator downloads). I am not sure when Ninja might convert these indicators for NT8 but they are surely missed for NT8 as many active traders use H&S.

I have converted these indicators for NT8 using the conversion tools on this forum. Both indicators compiled fine but HSBasicDef will generate an error when applied to a chart:

"Error on calling"OnBarUpdate"method on bar #; Collection was modified; enumeration operation may not execute."

I can't see why this error is generated even after including some print statements (commented out).

I am attaching the NT8 version, perhaps someone (either Ninja or a Member) can fix this error and re-post the HSBasicDef indicator. I will then complete the conversion of both indicators and post them here for all.

Many thanks.

Kind of complex piece of an indicator.But i agree,it would be cool to have it for NT8

[aligator]

Kind of complex piece of an indicator.But i agree,it would be cool to have it for NT8

It is not really that complex, in fact very simple and it converted easily and compiles. The one error needing correction happens when looking for a non-zero period to calculate the value for MAX. Obviously there is a different method for MAX logic in NT8 than NT7, which I can not figure out.

All we need is either the Support or a NT Coder here catch this one bug and I can fix the the other twin indicator. This is a great and really useful time tested indicator, and frankly I am surprised that NT will not jump on that instead of converting things like Conner's RSI and variations of moving averages.

Oh well, Cheers to whoever pitch in to catch the one bug in the attached file.

[outsource]

I`d stick with the NT7 H&S as long as the platform maintained

[NinjaTrader_PatrickH]

Hello all,

Thank you for your posts.

We will upload the updated HSIdentify and HSBasicDef for NinjaTrader 8 once it has been converted.

[outsource]

Hello all,

Thank you for your posts.

We will upload the updated HSIdentify and HSBasicDef for NinjaTrader 8 once it has been converted.

Hello,Patrick

what about an inverse HSIdentify?

[aligator]

Hello all,

Thank you for your posts.

We will upload the updated HSIdentify and HSBasicDef for NinjaTrader 8 once it has been converted.

PatrickH,

Hi. Is there a priority as to when this conversion will take place or it depends on the preference of your programmers?

H&S is probably in top 5 % of all indicators in terms of real usefulness and used quite widely. A minor effort to remove the one bug from the NT8 conversion of HSBasicDef that I posted above will make this indicator immediately available to interested members.

I vote again for H&S conversion and asking other interested members to vote as well, hopefully get this done soon.

Cheers!.

[outsource]

.........Aye

[aligator]

Hello all,

Thank you for your posts.

We will upload the updated HSIdentify and HSBasicDef for NinjaTrader 8 once it has been converted.

Hi PatrickH,

I just saw you posted a converted strategy. Any chance you guys convert the HSIdentify indicator please? It has been requested so many times for a long time since the advent of NT8 beta.

Thanks a bunch.