Drawing Tool Regression Channel - Several Glitches

[Harry]

Mode "Segment"

The drawing tool "regression channel" comes with an option to set the mode to "segment". When this option is activated the upper and the lower channel lines autoadjust to the HIGHEST close and the LOWEST close over the selected period.

This does not make sense to me. If you look at the chart below, you will notice that such a regression channel may lie entirely above or below the regression line.

What is usually required is to adjust the upper and lower line to the FURTHEST high and the FURTHEST low from the channel. This is called a Raff Channel and a few users have already complaining that NinjaTrader comes without it.

Please see the chart below that shows that the current implentation is not useful.


Price type

When I select the price type for the regression channel I have the option close that works as expected.

However, it is impossible to adjust the upper line to the furthest (or even highest) high and the lower line to the furthest (or even lowest low), When I select high, the upper line adjusts to the highest high, and the lower line adjusts to the lowest close. This is a funny channel that no trader would want to use.

Also you would probably not build channels from any of the other options. What is needed here is an option High_Low that adjusts the upper channel to the FURTHEST high and the lower channel to the FURTHEST low.

NinjaTrader would then have a Raff Channel and quite a few more satisfied customers.
Just replace the mode Segment (which is not needed) with the mode Raff Channel.

[NinjaTrader_ChelseaB]

Hello Harry,

Thank you for your input on this.

I've submitted a feature request on your behalf to add a 'Raff Channel' option to the Mode options where the highest high is the top of the and the lowest low is the bottom of the channel.

Once I have a tracking ID for this request I will post in this thread for future reference

[Harry]

Hello Harry,

Thank you for your input on this.

I've submitted a feature request on your behalf to add a 'Raff Channel' option to the Mode options where the highest high is the top of the and the lowest low is the bottom of the channel.

Once I have a tracking ID for this request I will post in this thread for future reference

Hi Chelsea,

Thank you for your feedback.

I have tried to explain that the current implementation of the option "Segment" is useless. I do not want the highest high or lowest low as implemented now, but the FURTHEST high and FURTHEST low.

Please look at the chart that I have sent you!

Here is a comment by another user:

"But the lack of basic tools such as a Raff Regression Channel is pretty bad. Had I known then what I know today, I would have chosen other software, sad to say."

Source: http://ninjatrader.com/support/forum...57&postcount=6

This is a simple feature that can be quickly implemented.

[NinjaTrader_ChelseaB]

Hi Harry,

I've updated the terminology to use furthest high and furthest low.

[NinjaTrader_ChelseaB]

Hi Harry,

I've received a tracking ID for your request to add a Raff Channel to the Mode options of the Regression Channel drawing tool. For future reference this request is being tracked with ID #SFT-1984.

Please note, it is up to the NinjaTrader Development to decide if and when a request will be implemented.

Thanks for the suggestion, let me know if you have any other ideas or requests for the NinjaTrader platform.

[spooz2]

ChelseaB, while you are at it, you should also ask for the additon of the Mean Absolute Deviation
as an alternative to the Standard Deviation. It is significantly superior to the latter.

[NinjaTrader_ChelseaB]

Hi spooz2,

Your request to Add Mean Absolute Deviation "Mode" to the Regression Channel is being tracked with ID #SFT-1998.

Please let me know if you have any other requests.