NexusFi: Find Your Edge


Home Menu

 





Indicator ScalperHighLow


Discussion in Platforms and Indicators

Updated
    1. trending_up 2,099 views
    2. thumb_up 1 thanks given
    3. group 2 followers
    1. forum 4 posts
    2. attach_file 2 attachments




 
Search this Thread

Indicator ScalperHighLow

  #1 (permalink)
 Bvend 
Greece
 
Experience: Advanced
Platform: Ninja,Sierra
Broker: IB,IQFeed
Trading: Emini ES, Dax
Posts: 38 since Feb 2013
Thanks Given: 19
Thanks Received: 19

After demoing Multicharts for a month a found an indicator that helped me fast placing my stop orders to price ladder and ported it to my favorite chart software Amibroker. The original work belongs to Tam or Tums from Multicharts forum.
It is set to default for Forex 1 pip/tick move but I have set a parameter to change it according to the instrument you trade. In addition if you don't have the specific sound file I use in your /windows/media folder change the code to an appropriate one.

Attached Thumbnails
Click image for larger version

Name:	example.gif
Views:	296
Size:	44.1 KB
ID:	172145  
Attached Files
Elite Membership required to download: ScalperHighLow.afl
Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Deepmoney LLM
Elite Quantitative GenAI/LLM
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
 
  #2 (permalink)
Balut
Manila
 
Posts: 16 since Sep 2014
Thanks Given: 5
Thanks Received: 2


Bvend View Post
After demoing Multicharts for a month a found an indicator that helped me fast placing my stop orders to price ladder and ported it to my favorite chart software Amibroker. The original work belongs to Tam or Tums from Multicharts forum.
It is set to default for Forex 1 pip/tick move but I have set a parameter to change it according to the instrument you trade. In addition if you don't have the specific sound file I use in your /windows/media folder change the code to an appropriate one.

Go to Tools
then on
code Check
And you will see
that you are only wasting your time with the formula.

Reply With Quote
  #3 (permalink)
 prouser 
Zurich/Switzerland
 
Posts: 79 since Oct 2014



Balut View Post
Go to Tools
then on
code Check
And you will see
that you are only wasting your time with the formula.

You are mixing things up here. Just because it says that the code references future quotes doesn't mean it is a waste. You have to understand the code and its purpose before blindly jumping on a some "waste of time" wagon. The part that is causing the message is Lastvalue(). Last Value() always reports with referencing future quotes. Now if you would use LastValue in some backtest like Buy = C > Lastvalue(C) then your test would look into the future because the entire Close array would take the lastvalue as reference for signal generation.

Here the attached code is used for real-time where it always refers to the most recent price of previous bar's high. In addition it is used to draw a horizontal line on most recent bar with extension to the right.

So once again, first understand the code before prematurely jumping to conclusions. Your conclusions are wrong.

Reply With Quote
  #4 (permalink)
 prouser 
Zurich/Switzerland
 
Posts: 79 since Oct 2014

In addition the message actually is:

"It seems that the formula references FUTURE quotes.
If you backtest this system you may receive outstanding results
that CAN NOT be reproduced in real trading.""

So it is a warning to take a closer look.
But here in the attached code of Bvend the use of LastValue is fine.

Reply With Quote
  #5 (permalink)
 prouser 
Zurich/Switzerland
 
Posts: 79 since Oct 2014

All three loops of the attached code of post #1 are not required. Waste of space.

 
Code
//ScalperHighLow Bracket By JRA Jan 2015
offset = 2;
HX = Ref( H, -offset+1 );
LX = Ref( L, -offset+1 );
TicksOffset = Param( "TicksOffset", 0.0001, 0.0001, 0.50, 0.0001 );//NofTicksAboveorBelow
y0 = LastValue( HX ) + TicksOffset;
y1 = LastValue( LX ) - TicksOffset;

Plot( C, "Price", colorDefault, styleCandle );

bars = BarCount - 2*offset;
Plot( LineArray( bars, y0, BarCount-1, y0, 1 ), "", colorDarkRed, styleLine | styleLine | stylenolabel, Null, Null, xshift = 2 );
Plot( LineArray( bars, y1, BarCount-1, y1, 1 ), "", colorDarkRed, styleLine | styleLine | stylenolabel, Null, Null, xshift );

if ( LastValue( C ) > y0 ) color = colorblue;
else color = colorDefault;    
PlotText( "" + Y0, BarCount + 1, Y0, Null, color );
AlertIF( LastValue( C ) > y0, "SOUND C:\\Windows\\Media\\ringout.wav", "Audio alert", 1 );

if ( LastValue( C ) < y1 ) color = colorred;
else color = colorDefault;
PlotText( "" + Y1, BarCount + 1, Y1, Null, color );
AlertIF( LastValue( C ) < y1, "SOUND C:\\Windows\\Media\\ringout.wav", "Audio alert", 1 );

Reply With Quote




Last Updated on February 26, 2015


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts