Please see the attached screenshot for a TRO Buyzone "style" indicator that gives tradezones based on moves out of the consolidation zones created by an ADXVMA line. I've been testing a half-hourly buyzone setup for several months and saw that it's been also produced by sam028(post #5) recently.
I made this one after seeing TZ's use of Sharky's white dots that I had put black diamonds on... So now, the zone bottom and top lines plot and I've colored a 10tick wide zone to show how many times you could hold for a quick scalp once it enters the zone... Of course, sometimes it pops into the zone and retraces for a full 10 tick stop.
Here's my proposal for a collaborative project if anyone has and is willing to share statistical coding experience.
TRO uses numerous statistics in his forex trading. I've never traded forex but wanted to run this for CL (or your other preferred instument. He's said previously that he doesn't code in NT... AFAIK, His stats have been run in TradeStation and MT4. One of the best that I've seen is some stats to show during a certain hour of the day what is the normal range that can be expected. Then, this info is plotted on the chart to show that we're near the statiscal range in our current move and you better get ready to take profits... He's got hundreds of screenshots to show how he does this statistical reporting over on kreslik.com and he's started some here in the "All you need" thread.
I'd like to set up statistics to show (examples only, I'm sure there's additional info that would be valuable):
bar number for entry into the zone (ie how long does it take to actually go into zone after the black diamonds appear)
how often does it push farther to a 10 (or whatever) tick initial target after entry into zone
how many bars does it take to go 10ticks (if it can go within 3 bars that's great but if 7 or 8 have occurred without hitting, we better bail)
how often does it retrace 10 ticks after touching the zone entry line
how often is it in chop mode and the zone is far enough away to avoid whipsaws
what is the statistical full range of a move after the zone is penetrated until a new zone sets up or retrace back out to entry line (ie 0-5 ticks, 6-10 ticks, 11-15 ticks, 16-20, etc.)
I feel I could help with part of this project on the coding end once I understand the "placeholders" for performing the math functions
for a larger sample size (hope that makes sense).
if I need to struggle through one day of stats before you stat coders help out, tell me how high I gotta jump!!!