Regression Channel Drawing Tool

[Chile]

You are coming closer now lets put in either a correct Channel Drawing Tool or fix the broken ones to do the job correctly.

first you need a middle center line for all channels. so you need 3 parallel lines. the upper lower and middle. OK have that part understood now.

2nd it needs to have it more free floating. the Regression channel is the idea but the Middle line is set by the user then he pulls down or up both needed to make the upper and lower remain parallel but move the fixed direction away from the middle line. now extra lines like 3 7 9 etc are useful for drawing TARGET lines equal distance away from the original channel. each line being half width or the distance from the middle line to the upper line then twice that distance upward and 3 x up and 4 times up or setting that value to fib numbers by the user and then setting that as a named saved up default and having many different defaults to choose from depending on the use. of course in down market one needs the targets as it moves down so both are needed.

now these channels lines or channel must be flat or at any angle. so it can also be used to find equal or other values along the time line.

you can email me if you want me to explain it better to you. and maybe send you pictures so you understand the concepts.

all these tools are very nice on ensign software. take a look there for some excellent ideas. haha





r

[Alfred]

Plot Regression Chanel into the future...

Have suggested this before....be able to plot the Regression Chanel to a target in the future and have the tool update as it approaches and reaches your target. You would plot from a known chart point on the left and then drag the tool to your target in the future on the right. This would turn this into a real tool....not just something always looking at past chart conditions.

This is all about futures.......

Here is a video on some possibilities...

https://www.screencast.com/t/PxV1mtrAFbd

Thanks........

[Chile]

Please I know what I need and want. I know what works. I AM A TRADER. Please do not tell me that I need something that is totally useless for ME & MY Trading the way I choose to trade. You can add on all the useless for me items you want the more the merrier. I might find something I like. but I know what I NEED. I do not know what you need in your trading.

Please let me state that I do ALL my trading via DRAWING TOOLS. NOTHING ELSE. I do not use any mathematical formulas. I am a trained applied Mathematician and Physicist scientist. I have done extensive research on math trading models and have abandoned them all for what I consider fits my trading style & personality. we all are different and require different tools. and I know I am different. I like who I am.

I want to decide where I want to put all 3 of the lines. and even more lines parallel for many purposes like TARGETS as I mentioned. Right now a computer routine totally controls the channel via a REGRESSION MATH ROUTINE. I a human being. I want to control how the TOOL is used. Traders need parallel lines for all kind of reasons. Please implement such a great important useful tool for trading.

I am not asking you to remove the present Regression Channel routine. I simply want a similar tool conceptually that looks similar but is used totally differently. I need control of the central line for the slope and the outer lines for the channel and more parallel lines outside above and below the inner basic channel. this would simulate an Andrews fork and is called Andrews Action Reaction lines. but is useful for other things like Target and time symmetry. Slopes and other uses. It is a most important general Drawing Tool. like circles which we dont have and square boxes. they are DRAWING TOOLS. and parallel lines right now are most difficult to draw. keeping 2 parallels equal or other distance from the center line. Andrews calls it the Center Line and the Action Line and the Reaction Line. and they are not determined by a Regression Math Routine.

we also need a click that makes lines flat horizontal and of fixed limited length with a option to extend such line to the right or left. almost all software packages have such a line. It is infinitely valuable. right now the ONLY flat line is infinite long in both directions. and covers the entire chart running forever into the future. all we want to do is mark a high and low with short one inch lines. hahaha. and the infinite length is a super pain in the ass. the way to do it is to have a click that takes any line and makes it flat.

such a line is used for marking higher lows and lower highs etc. a nice way to do it is to make a pointer put such a duplicate line where the pointer is clicked. putting down a copy paste type thing without having to hit copy paste for each items and having the copy placed at the intended position similar to what is done with the tool used for writing words down.

[Alfred]

Chile...is this what you are looking for ??
This example was created with the Trend Channel tool. (available in Draw Tools)
More parallel lines can be added, as may be wished,
and the lines can be extended right or left.

Good luck.......

[NinjaTrader_PatrickG]

Thanks for the suggestions, Alfred.

Chile, would making use of the additional lines and other options in the new Trend Channel tool address your usage concerns with the tool? Or, in addition to what is already possible, what should be added? As Alfred mentioned you can add additional lines as you desire.

[Chile]

Chile...is this what you are looking for ??
This example was created with the Trend Channel tool. (available in Draw Tools)
More parallel lines can be added, as may be wished,
and the lines can be extended right or left.

Good luck.......

YES I believe this will solve my problems. I have to check it out fully but it looks great.

the video on how to use the regression channel I am not sure who is speaking. but my hearing is not good and I can understand little of what he says. . these news people on TV are specially chosen for their voice to be understood by maximum audience. you need to do the same. not much sense if the person sounds like he has marbles in his mouth. People with good voices are difficult to find. you have to look around. this problem is a major problem in the trading video market. people have traders speak who mumble their words. better to have a good speaker and the trader can write the script and show the speaker what needs to be said. if the viewer can lip read the speaker it helps.

the other thing that is needed by a speaker on the video is to find a person who can explain his ideas well. this is harder to find. most people can not explain their way out of a paper bag so that the listener understand what he said. this is critical for lawyers presenting cases in court. they make fortunes per hour because the jury understands what they are trying to say. listen carfully to anyone you might interview. clarity of voice and ability to get the audience to understand.

just view the video on regression channels the guy does not pronounce or enunciate his words well or correctly. and then his choice of words is super poor to explaining the ideas he wants to get across to the listener. waste of video tape! try again. hahaha.

I think I am all set now. THANK YOU

[Alfred]

Chile....maybe I had a frog in my throat when I made that video...

......................

[Chile]

I am in trouble NOW

hahaha.

People tell me I am too rough with my words.

mea culpa mea, culpa mea, mea maxima culpa.

hahaha.

I am sure google will tell you what that means. haha

google claims 675,000 hits on it. hahaha.

[Chile]

I see the problem. when I try to widen the bars they all move together or the angle changes.

what is needed is to setup one line the Center Line is most usual. that sets the slope of all the lines. then the upper or lower can be moved away and all the lines stay with the same slope.

Right now that is not possible. if one tries to move a line the entire formation moves as a unit. if one trys to change the end points that allow things to widen then the slope changes and the setup is destroyed. so one is always struggling to fix things again.

here is what is needed. one must be able to set the center line and keep that fixed no matter what else is changed. which means the slope will always keep the slope of the Center line. and then the only thing to change is the distance from the center line.

also with the present setup the end points no long work with the snap mode. snap mode only works before the channal is formed. and definitely one wants to snap onto highs and lows. and this is not possible after the channel is first set. this must be looked into. the channel without snapped on points is kind of useless because as the line moves away the error keeps growing more and more. and impossible situation.

But you are now very close to having it. it should be simple to restore the snap on mode and allow the user to put it on or take it off snap on. high and bar. low and bar etc.

unfortunately as the bars are moved apart they rotate and everything is lost. the slope is lost and the other end. it becomes a nightmare to try to fix it.

the solution is simple. just make one bar set in stone. the other bars move apart equally but do not rotate. to rotate one has to go back to the first bar that sets the slope. the center line is the way Andrews Action Reaction works and that is a good way to go. because the user sets the slope line which is the logical starting point for the trader. then he widens to action points on the chart. and looks for reactions or TARGETS to shoot for.

TRY it YOU WILL LOVE IT so much easier than what you have now. but I assume both methods have their advantages. and I would keep what you have now and simply do a repeat of the Andrews methods. because this is what people will be looking for.

[NinjaTrader_PatrickG]

Thanks for the feedback. I'll forward your suggestion to the Development Team.

[Chile]

Have suggested this before....be able to plot the Regression Chanel to a target in the future and have the tool update as it approaches and reaches your target. You would plot from a known chart point on the left and then drag the tool to your target in the future on the right. This would turn this into a real tool....not just something always looking at past chart conditions.

This is all about futures.......

Here is a video on some possibilities...

https://www.screencast.com/t/PxV1mtrAFbd

Thanks........

this sort of looks OK but I dont understand your logic. what is going on. how to set it up etc. I just dont get it what you are doing on the video. and I can only understand maybe 10% of the words. my hearing is terrible.

what do you do set a length and move it over to new length. why are 2 different regression widths shown as you moved two different channels to the same area. it is all confusing to me. what is going on. I dont get it. I watch the video at least 4 times. the more I watch the less I understand.

for example reading what you say. we set it on the left then drag it to a target on the right but you do not say if the drag is to a price target or time target and the tool does not go beyond the price bars. so it makes no sense what you write or say. both are very incomplete. dropping the idea. you have to read this from the view of the listener. he is not given the info to understand what you are talking about.

plan and simple your step by step is missing more steps then given. you have to fill in the blanks with lots more careful worded steps that use carefully chosen words. to express an idea that is carefully chosen.

will the computer lengthen the channel as each new bar is created. or do I have to move the channel one bar at a time every time a new bar is created. what is going on I have no idea.

[Alfred]

Video needed

Chili....if you could make a video of your thoughts...
...that might be helpful...

.................

[Chile]

try to read post 9 carefully. I try to carefully express how the channel can be moved by the user on his chart.

1 He sets the middle channel set in stone and does not move.

2. he moves an upper or lower line parallel to the middle line and the opposite line moves the same distance away. the sets the line to some price on previous bars. and the opposite line is equal distance from the middle line in the opposite direction maintaining slope of the middle line. the old price is the ACTION LINE is all about the past of the market while the opposite line is the REACTION line that represents future target line. believe me this REACTION line is all about the FUTURE. and the middle line is NOW LINE or CENTER LINE half way between the PAST ACTION LINE and the FUTURE. REACTION LINE

TRY IT. SET THE MIDDLE LINE KEEP IT PARALLEL. DO NOT ALLOW THE MIDDLE LINE TO EVER MOVE. NEVER MOVE. SET IT AND FORGET IT. well at least until you move it to a new spot. with new slope for a new action reaction.

You make the tool and I will show you how to trade it. right now I can not do the lines properly. so hard to make a video for you with something that does not exist.

now lets add a new idea. this is the idea of the standard fork. with the fork the center line moves up and down half way between the high and low from a fixed point. in this method the 3 points determine the fork and center line. but lets imagine now that you want to set not the 3 points but you want to start from the center line fixed. and allow the other points to vary while keeping the center line fixed. this has great potential and in fact was the original and more powerful way to trade. the fork was developed years decades later as an approximation to the action reaction method of trading. so you have the forks. now you need the original method. and you are very very close to having it. just one more tiny step.

I went onto YouTube looking for Action Reaction trading videos and John Crane comes closest. he actually uses Ninja Trader 7 to do his work the wrong way trying to approximate the correct methods. but it is impossible right now with out the tool I want you to make properly. you can get some ideas of action reaction using forks. but there is so much more to it. that one needs the correct tool to do it. please just do it as explained. if you have questions I am here to help in any and all ways that I can.

here is John Cranes page at YouTube. giving you a video. but it is all done the WRONG WAY. hahaha. so you are not going to understand what he is trying to do with the wrong tools.

https://www.youtube.com/channel/UCLDuZe12blTBAbT3hrTdIiA

or better go to below about 6 to 7 min into the video and see how he splits the action reaction. by eyeball guessing the center of the action reaction correction. that should be done with center line from the low to high of the tiny reaction and then moving a parallel to the top high point and the low target points. he explains it this way in his book. but he cuts corners on the video because it is impossible to do it with parallel lines when NT does not have them working correctly for this method of trading.

[https://www.youtube.com/watch?v=Tb-_...xGlFqXw2twK-l]

6 to 7 minutes into this video is an example of action reaction that require the correct tool.

you now have 2 videos of my thoughts and more. hahaha smile.