It would be interesting to have these converted to Ninja (6.5) if anyone can help?
If it helps, this is my understanding of the above 3 indicators.
Brian Inside Bar:
a horizontal line (blue) is plotted at the high and low of the previous bar.
a horizontal line (red) is plotted for the current bar open price, if the current bar opens lower than previous bars open.
a horizontal line (yellow) is plotted for the current bar open price, if the current bar opens higher than previous bars open.
Two horizontal lines (yellow) plotting the highest high and lowest low of the preceding 3 bars, not including the current bar.
I do not know how this is configured and don't have the MT4 platform to see it plotting.
Last edited by zt379; August 15th, 2010 at 01:53 PM.
Had a look at the indicator. I am interested in the SHI Channel indicator and may try to code it. I have a modified version in mind that fits my personal trading style.
This is an easy task. It is nothing else than a Donchian Channel with the period 3. I would actually suggest to use a rectangle, colour it (user selectable) and put it behind the price bars.
I think there is a better way of drawing trading ranges, which is in sync with the market, have already coded another indicator.
Brian Inside Bar
Honestly, I think that this is nonsense. I do use inside bars, but an inside bar becomes an inside bar, when the bar has closed, showing that the volatility during the period covered by the last bar was lower than the volatility covered by the previous bar. I use inside and narrow range bars, following the preachings of Toby Crabel.
Let me know, whether you are still interested.
Last edited by Fat Tails; August 21st, 2010 at 07:35 AM.
The following user says Thank You to Fat Tails for this post:
Yes it looked interesting.
Hope your able to convert it.
Thx for the Donchian suggestion.
I tried it with your settings (although I don't know what you mean by "rectangle" ?) but it does not plot in the same way as the Square Indicator for MT4.
Thx for your comments.
Yes I am aware of what an inside bar is. Thx.
I believe the indicator is more to do with the current bars open in relation to the previous bars open,
with the addition of the horizontal lines at the high and low of the previous bar.
Thx very much for the reply Fat Tails.
As you say, we all have preferences in what and how to use things.
With all 3 indicators, to see them visually plotting on a chart is the only real way I can assess their value.
Always interesting to see if things help.
I hope your able to convert them to NT 6.5.
Thx for your suggestions to create the Donchian Rectangle from NT7 to NT6.5, but I've not been able to figure this out.
Hoping for your assistance to create the MT4 "Square" indicator for NT6.5.
To re-cap, this is having a horizontal line drawn at the highest high and lowest low
of the last 3 bars (or user defined) not including the current bar.
Also any progress converting the MT4 SHI Channel indicator for NT6.5