Help needed: Reversal bar indicator

[lightsun47]

Hello,

I would appreciate some help regarding this. I am trying to modify a stock reversal bar indicator to get some better results. I actually reversed all the settings in the stock chart to make it a 'trend showing' indicator instead of 'reversal bars' as you can see from the pictures.

I have attached the pictures for both indicator settings and also how they look together on two different charts. (Left side stock reversal, right side trend showing.)

My question is, is it possible to tweak even further with different settings to get even better 'trend' generating settings?

Example: Where my pointer is in NT7, if that candle was also highlighted as green (which is not as you can see), I would have entered on the 3rd bar (as per my rules) for a successful trade. This happens quite often and I do miss a lot of good trade entries. Maybe what I am asking is, is it possible to change some values in the indicator to 'generate' more signals?

Thank you.

[lightsun47]

Sorry for posting in NT8. Can anyone please move this to NT7? Thank you.

[NinjaTrader_ChrisL]

Hi lightsun47, thanks for your question.

If the source code of the original indicator is available, then virtually any change can be made to it. I would recommend printing out whatever the indicator is calculating to understand how it works. for example, in the condition do something like this:

if(High[0] > High[1] && Low[0] > Low[1] && Close[0] < Open[0] && actualclose < (priorclose + ((Open[0] - Close[0] *.75))))
{
    Print("Changing bar color because: ");
    Print("Condition 1: " + High[0] > High[1]);
    Print("Condition 2: " + Low[0] > Low[1]);
    Print("Condition 3: " + Close[0] < Open[0]);
    Print("Condition 4: " + actualclose < (priorclose + ((Open[0] - Close[0] *.75)));

    BarColor = bearcolor
}

Please let me know if I can assist any further.

[lightsun47]

Hello Chris,

When you said source, does that mean I can open it in Control Center - Tools - Edit - Indicator?

Yes I can do that. But I wanted to know what values I change. I can provide the source if needed here.

Thanks again.

[NinjaTrader_Jim]

Hello lightsun47,

We could not recommend specific changes to an indicator to "improve" their results. This essentially requires understanding of the indicator from a technical analysis perspective, and an understanding of how the indicator calculates before you could make changes to improve it.

You can find technical analysis articles that further describe the indicator math underneath, and you can make changes to the script as you would like.

This is not something we can easily suggest to "change X to see Y."

We look forward to assisting.