Super Trend For Ninja Trader Needed

[Elliott Wave]

I've looked at it on daily stocks and on different currency pairs with different time frames and it seems to work fairly consistently on all of them, but its important to remember that all stocks and currencies have been trended fairly well lately.

When I did a longer backtest using a simple cross above/below strategy on the EURJPY 5 min (what I'm trading at the moment) the indicator was unprofitable. I've coded in a MessageBox() alert that pops up everytime there is a cross and there have been quite a few whipsaws today.

I've experimented a bit and think it may be useful to use multiple instances. The period parameter does almost nothing but using additional multipliers of 2 and 10 can be good. The instance with a multipler of 10 to act as a filter for the main indicator (14,3) and only trade in the direction of the 10 multiplier indicator and the instance with a multiplier of 2 can be used as an early warning of a trend change.

Using an indicator that indicates trend could also be a good filter for whipsaws. Trend detection is an area I think is lacking for indicators and the only major ones I'm aware of are ADX (too slow) and RAVI (slightly better), but I think filtering with a combination of raw ATR and StdDev could help filter whipsaws with this indicator.

I've got a couple custom trend detecting indicators I've developed but they are still in the early development stage.

Using the ChandesTrendscore could help and there another decent one I have found (Damiani Volatmeter) that I will post in the hopes that someone can convert it...

Overall though, I think this is a VERY good indicator and I plan on testing it extensively for strategy development to see what I can come up with.

[vrathee]

Addional tools for confirmation Required

Hi

Indeed this indicator needs little modification or some Indicator should be used with it. As Elliot has said the confirmation is needed from ChandesTrendscore Or Damiani Volatmeter.

But i want to tell that for me it has been fruitful. When i use this Supertrend for NSE Nifty on 5 min chart using setting 10,4 has worked for me. On stocks I use 10,3 setting which works great.

So the point is suitability of the indicator on Indices and stocks. Super trend has been the USP of may data providers like Prorealtime.com and many others in Europe.

One can give it as try after a proper check which timeframe and what setting are needed. I lookk forward for some addtional confirmation tools for which i seek help from the Seniors Roonius and Elliot.

Regards

Vinkal

[roonius]

Don't call me a senior since i am a junior...

[vrathee]

Don't call me a senior since i am a junior...

See my Joining date Nov,08. and yours is Oct,08. Atleast senior to me in terms of Joining date.

Regards

[roonius]

You're funny

[vrathee]

You're funny

Hi Roonius

I need little programming help from you. Can you plot the buy and sell indicators as per this requirement :
1. Using 5, 13, 62 ema, Rob Booker method.
2. When the 5 ema and the 13 ema both cross above the 62 ema - blue dot
3. When the 5 ema and the 13 ema both cross below the 62 ema - red dot

Please see the attached chart for the reference. It seems to be simple strategy but very effective.

Regards

Vinkal

[Elliott Wave]

I would recommend trying this yourself with the strategy wizard, viewing the code, comparing this to other indicators and seeing if you can't create it yourself. The biggest stumbling block I could forsee with this for a new(er) user is the y value. Make sure if you want the dot to be easily visible, make sure you draw it near the current price value (Close[0], High[0], Low[0] etc) rather than at zero whch your plot would likely plot without a proper Y value...

That's the best way to learn in my opinion and after you create your first custom NinjaScript you'll likely be want to create more...

Best regards,
One-eyed Elliott

[vrathee]

Live trades with Super Trend

Hi All

Attached is my previous 2 days trading with Super Trend. I have used settings of 14,4 on 3 minute charts for NSE Nifty. And results are superb. See it yourself.

I have used pivots, stochastics abd volumes with it for confirmation. And the idea has clicked. One can try the combination. I never trade first 30 minutes of Market open.

Attached trade images

Regards

Vinkal

[Elliott Wave]

Its good to see it working well for you.

I've been working on some similar filters. Using Fib levels as support/resistance, CCI(34) and something to determine if the market is 'noisy' on the EURJPY 5 Min.

I'm glad I didn't jump right in using this because the market has been ranging between two fib levels for more than 24 hours. There would've been a ton of whipsaws.

Using the CCI34 and only trading when the signals align tends to help a lot.

Keep us informed on your progress vrathee and let us know if you find any more effective filters.

[vrathee]

Its good to see it working well for you.

I've been working on some similar filters. Using Fib levels as support/resistance, CCI(34) and something to determine if the market is 'noisy' on the EURJPY 5 Min.

I'm glad I didn't jump right in using this because the market has been ranging between two fib levels for more than 24 hours. There would've been a ton of whipsaws.

Using the CCI34 and only trading when the signals align tends to help a lot.

Keep us informed on your progress vrathee and let us know if you find any more effective filters.

Elliot

Can you please post some charts of EURJPY? I wanted to see the settings and rate of the EURJPY. It might sound illogical but it is somewhat true that Supertrend has worked for me using some particular setting for particular stocks.

I would like to see the charts. Please update.

Regards

Vinkal

[RJay]

This Post was in error, It has been removed.

Sorry about that.

RJay

[Elliott Wave]

I'll check it out for sure

If I'm not mistaken though the multiplier value is a double so there should already be plenty of latitude for adjustment.

The old 1, could just as easily be 1.618 and the old 3 could just as easily be 3.14.

By assuming the multiplier is an int and multiplying the values by 20 allows just twenty levels of precision per 'old whole number' whereas a double precision number should already allow much greater adjustment...

[RJay]

Wow! I guess my brain is in a box these days. Sorry about that. Your right, I'll pull my post.

RJay

[vrathee]

I'll check it out for sure

If I'm not mistaken though the multiplier value is a double so there should already be plenty of latitude for adjustment.

The old 1, could just as easily be 1.618 and the old 3 could just as easily be 3.14.

By assuming the multiplier is an int and multiplying the values by 20 allows just twenty levels of precision per 'old whole number' whereas a double precision number should already allow much greater adjustment...

Hi Elliot

I think thats a great idea that you are talking about. For me 14,4 is working so great that i can't even imagine. But that is purely for Nifty Indices.

Hope to see your trade images. May be i can help you in that.

Regards

Vinkal

[RJay]

(Continued from above post)


to


[Description("ATR Period")]
[Category("Parameters")]
[Gui.Design.DisplayName ("1 Length (Integer)")]
publicint Lenght
{
get { return lenght; }
set { lenght = Math.Max(1, value); }
}
[Description("ATR Multiplier")]
[Category("Parameters")]
[Gui.Design.DisplayName ("2 Multiplier (Decimal)")]
publicdouble Multiplier
{
get { return multiplier; }
set { multiplier = Math.Max(0.1, value); }

--------------------------------------------------------


I think you will like the results,


RJay