LBR PaintBars

[Everest]

Can anyone program the following LBR PaintBars indicators for ninja, please?

http://team.thinkorswim.com:7001/manual/metal/studies/studies%20library/G-L/LBR_PaintBars.html

Thanks.

[NinjaTrader_Bertrand]

Welcome here Everest, if no one takes it up here as a project you could always contact a certified NinjaScript consultant from this list :

http://www.ninjatrader.com/partners#NinjaScript-Consultants

[sherazwaqar]

post a sample chart with the inputs used. It looks simple from the description. I will give it a try.

[Everest]

Here it is, it is very simple actually

http://s50.radikal.ru/i127/1111/77/a5f6540e7170.png

[sherazwaqar]

I think it should do let me know if something needs to be corrected

[Everest]

Hey, great thank you. it is almost done, but indicator is not showing regular bars in ninja. here is two screenshots of the same period.

Screen from Thinkorswim

http://s017.radikal.ru/i425/1111/20/d3dbb0d7e514.png

Screen from Ninja
http://s017.radikal.ru/i411/1111/da/307fce9b1e1c.png
(select, copy and paste then)

[sherazwaqar]

I know where the problem is .. I will fix it in a little bit ...

[sherazwaqar]

updated indicator attached ...
From the second chart you posted, I realized that the indicator is not supposed to highlight the bars that are in b/w the two Upper and Lower Volatility plots ... so I made the adjustments.

Can you give some information, how you use this indicator? I think you are using it to filter out ranging market areas.

[Everest]

Sherazwaqar, thank you for your efforts, you are very close, but it still has differences, but they are very little - 1 or 2 bars.

Here is how it looks like in thinkorswim code, if it tells you something that will be of help.:

# @new
# @reference
#
# thinkorswim, inc. (c) 2011
#

input HLLength = 16;
input ATRLength = 9;
input factor = 2.5;
input paintBars = yes;

def AATR = factor * Average(AvgTrueRange(high, close, low, ATRLength), ATRLength);
def band1 = Lowest(low, HLLength) + AATR;
def band2 = Highest(high, HLLength) - AATR;

plot UpperVolatility = close > band1 and close > band2;
plot LowerVolatility = close < band1 and close < band2;

UpperVolatility.SetPaintingStrategy(PaintingStrate gy.BOOLEAN_POINTS);
UpperVolatility.SetLineWeight(3);
UpperVolatility.SetDefaultColor(Color.GREEN);
UpperVolatility.hide();
LowerVolatility.SetPaintingStrategy(PaintingStrate gy.BOOLEAN_POINTS);
LowerVolatility.SetLineWeight(3);
LowerVolatility.SetDefaultColor(Color.RED);
LowerVolatility.hide();

DefineGlobalColor("Bullish", Color.GREEN);
DefineGlobalColor("Bearish", Color.RED);
AssignPriceColor(if !paintBars
then Color.CURRENT
else if UpperVolatility
then globalColor("Bullish")
else if LowerVolatility
then globalColor("Bearish")
else Color.CURRENT);

[sherazwaqar]

I am employing essentially the similar logic as you have posted in the thinkscript code. Can u please post a chart from the thinkorswim terminal for ES Dec Contract. Also please mention the time template used.

[Everest]

one moment

http://s017.radikal.ru/i430/1111/9f/99f78ce914c2.png

[sherazwaqar]

Well I have scanned through the code, and the reason for the differences for 1 or bar is that I have put in a condition in indicator to return 0 values if there are less 16 bars (length for calculating the highest high and lowest low), if i get rid of that condition, the charts are similar.
In my view the indicator should not be calculating any values until it has 16 bars on the chart, because the highest high and lowest low returned are not in conformity with the indicator logic.
If you like I can repost the indicator ... also if you increase the number of days on your thinkorswim terminal, the number of volatility bands will change as it will have more bars for the calculation of first value, and for the ninjascript that I have written values will remain the same, as it is already employing the logic as it should be.

[Everest]

Can you do it, please ?

[sherazwaqar]

Sure. Here it is ...

[Everest]

Sherazwaqar, I use it to find my entry points after Divergence has happened. Market makes new high, but momentum indicator shows that momentum is slowing down and it doesn't make a new high. After this I start looking for paintbar to change color and this is my entry.
Example:

http://s39.radikal.ru/i086/1111/85/364de9abb0c1.png