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Old 08-12-2007, 03:13 PM   #1
Gumphrie
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Default MACDBBLines

This is an indicator that plots the MACD and Bollinger bands worked out as a standard deviation from the MACD. It also highlights zero line crosses of the MACD line (displayed as dots).

Any comments or strategy suggestions welcome.





ChangeLog :

Updated 21st August - Vers 0.2 - removed superfluous MACD dot plotted on the zero line for the current bar.

To import:

- Download the file contained in this thread to your desktop
- From the Control Center window select the menu File > Utilities > Import NinjaScript
- Select the downloaded file
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File Type: zip MACDBBLines.zip (9.2 KB, 1152 views)
Last edited by Gumphrie; 08-21-2007 at 08:16 AM.
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Old 08-17-2007, 07:31 PM   #2
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Quote:
Originally Posted by Gumphrie View Post
This is an indicator that plots the MACD and Bollinger bands worked out as a standard deviation from the MACD. It also highlights zero line crosses of the MACD line (displayed as dots).

Any comments or strategy suggestions welcome.



Gumphrie,

Thanks for the indy. I have been using a similar indicator for awhile now on a different charting platform. My entries are either on ZLB [Zero Line Break], ZLR [Zero Line Reject], and a couple of others. You may find this video by Nexgen helpful. I am new to the forum and do not know yet where the proper topic is to post trade setups.

ENJOY!

crisscruiser
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Old 08-18-2007, 03:27 AM   #3
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Quote:
Originally Posted by crisscruiser View Post
I have been using a similar indicator for awhile now on a different charting platform. My entries are either on ZLB [Zero Line Break], ZLR [Zero Line Reject], and a couple of others. You may find this video by Nexgen helpful. I am new to the forum and do not know yet where the proper topic is to post trade setups.
Wow, thanks for the info.
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Old 08-18-2007, 10:52 AM   #4
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Gumphrie,

Here are some more info video's on the T3 MACDBBLines. I found them very interesting. http://www.nss-t3.com/guide.htm
Maybe they can help you as well.

Good Day
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Old 08-18-2007, 08:40 PM   #5
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Default Installation question

When I unzipped file I noticed 3 standard Ninja indicators and the MACDBBlines.cs file. Is it really necessary to import those?

I would usually just copy MACDBBlines.cs to \My documents\ninjatrader 6\bin\custom\indicators and then compile indicator with Ninja Script Editor.

Is there a particular reason that importing is different? Or do they accomplish the same think?

Thanks,
Al
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Old 08-18-2007, 10:02 PM   #6
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It is required since the indicator uses those system indicators. The import process will not replace indicators if they exist on your system and they are the version.
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Old 08-20-2007, 02:42 PM   #7
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Do you know what they use as their T3 inputs?

ie: fast T3= .7 velocity with a 3 period
slower T3= .7 with a 5 period

I'm sure the above works fine, but I was just curious as to what their numbers are.
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Old 08-21-2007, 08:20 AM   #8
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Note, I've updated MACDBBLines so it doesn't plot the superfluous MACD dot on the zero line for the current bar.
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Old 08-21-2007, 09:04 AM   #9
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Gumphrie

Great job. Thanks for all you are doing here in this forum. Keep it up.
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Old 08-22-2007, 03:36 AM   #10
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Quote:
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Gumphrie

Great job. Thanks for all you are doing here in this forum. Keep it up.
Thanks for the encouragement dwalls.
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Old 08-22-2007, 06:50 AM   #11
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Thanks for your work Gumpri, I've been using your indicator for the past few weeks and have noticed a great trade setup when everything is in sync (multiple time frames) the picture shows what I am looking for, it is when the dot drops into the BB channel, red for short, green for long, so far I must say it has worked great, just do not take the opposite side on a pull back.
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Old 08-23-2007, 06:01 PM   #12
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Default MACDBBLines...

BC.. I am assuming you meant you use that signal as a confirmation to take the trade, as per your chart, Medium was already below its moving average and your squeeze indicator had also already turned darker blue prior to the red dot dropping into the gap between the two lines.

Just curious, have you done much in the way of risk reward statistics on that trade?

Happy Trading
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Old 08-23-2007, 08:24 PM   #13
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Randyjb,

I should have passed along a little more info, I use this stratigy only in premarket hours, usually 2 or 3 hours before the open, it has not let me down in the past 2 weeks. I am usually done and out of the house within a half hour after the session starts. on a slow day i will get 10 ticks without any problems.
The overnight session is usually getting out of thier trades during this period so for me it seems to be easy pickings

This morning was no exception entering short on the ES at 4:40 mountian time 1480.25 with an exit after the open at 7:05 which is 10:05 eastern
at 1468.50,

If you look at the same picture of this morning the dot dropped inside the bands (this is from a 2m chart) and on the mediumthere is a gap between the bars and the ma line, this is also a good clue for either direction.

most days are not like today, and the market moves too fast for me to try it during the regular session, by the time I have lined up all 3 charts everything has changed, but not so in premarket hours, it makes it easy money
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Old 08-23-2007, 08:29 PM   #14
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Randyjb,

I should also add that if you look at the squeeze, yes even this morning the bars were dark blue, but momumten the green line is dropping, John Carter and his partner Hurbert Senters say it is time to exit your position after 2 dark bars, in this case your last trade would have been a buy that you would be exiting (overnight traders leaving thier position) I was picking up the position going short
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Old 08-23-2007, 09:19 PM   #15
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Gumphrie,

Is there any way to use the MACDBBlines indicator, as part of a strategy code to tell me if the (dots) are above or below the upper or lower bands?
I'm not sure what the dots are called, are they the fast (EMA) or something else?
Example: if or && MACDBBLines (dots) is < UpperBand (red)
or...if or && MACDBBLines (dots) is > UpperBand (red)
and visa versa for the LowerBand (blue)

and...if or && the TTMSqueeze (or the BBS) had 2 dark bars in a row

then could enter a short.

Would this be possible somehow?

Thanks
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