!RL_AD_all AKA AD_RACE indicator vers 2.0

The latest version of the !RL_AD_ALL indicator includes the zero 2:1 and –2:1 lines as well as text annotation of the a/d line.

 

This indicator is used to visually plot the Advance/Decline line of several indexes for intraday monitoring of strength both relative to other indexes as well as to watch for market turning points.

The indicator comes packaged with a worksheet setup  for several indexes.  It is a bit tricky to setup as TradesStation requires a symbol to be displayed in order to annotate a chart, so Data Stream one needs to be “Scaled” out of the chart and the chart expanded and scaled using background scaling in order to be used properly.

 

Understanding how the symbols are setup is important to understanding how to use the indicator.  You can have up to 8 a/d lines and each a/d line must have an advance/decline pair. Here is the example for the provided worksheet.

 

Data Stream 3 in this example is the NYSE advances and Data Stream 4 is the NYSE declines.  (odd even datastream = one a/d line).

 

image

The first input on the Format Analysis box tells the indicator how many data stream pairs you have setup, in this example we use the first 7 (data stream 1 – 14).  Although we have setup AMEX  as a data stream, we find it of little use so we have excluded it from the indicator by picking 7 a/d lines to show (1-7).

The next inputs are the tag names that will float with the latest A/D values to help you identify the A/D lines.

image

The indicator runs in several modes of which we find the modeDiff the most useful which is simply (A-D)/(A+D).

The final chart should look something like this:

image

This latest version includes the A/D ratio as part of the annotation, allowing you to see a more traditional value for the A/D line.

The !RL_AD_ALL indicator is for premium members only and is one of our most used trading tools.  If you would like to see the indicator in action and how we use it to help us trade you can visit us in the Traders Live! trading room.

 

Download:

[hide_from level=”Annualgold”‘]

This content is only available to premium members.  If you would like to join and have access to all my indicators checkout the current special being offered here:  Premium Membership 

[account_login url=”stay”]

[/hide_from]

[show_to level=”AnnualGold”]
This content can only be seen by Premium members.

1. Download and install the ELD:

2. Download and install the worksheet:

If you have any issues let us know.  Support@redliontrader.com

Enjoy!

[/show_to]

Ned Davis 4% Backtesting Strategy Beta Version 0.9

We are releasing a cool first past strategy using the new TradeStation 9.0 Price Series Provider object to generate a long only entry and exit for backtesting the Ned Davis 4% system.

 

It is not limited to just the Ned Davis system which uses a 4% move in the Value Line index for entries and exit, you can change your trigger symbol and percentages.  It is currently fixed to triggering on weekly moves of the tracking symbol however.  You can on the main chart also pick which instrument you wish to trade.  Currently we trade the UWM.

image

(Click on image to enlarge)

With the ELD we are packaging both the strategy and the indicator shown at the bottom of our sample worksheet.  Each time the value line moves more than 4% in a week the system generates a buy signal.  A drop of 4% am exit sell signal.

To read more about the Ned Davis indicator and how to set it up please go here: http://www.redliontrader.com/headline/ned-davis-4-indicatoror-a-generic-4-weekly-indicator/

The setup for the strategy is currently the same as the indicator:

image

One need only pick the tracking symbol to look for a weekly change and the percentage number that will enter the trade.  The trades will be executed on the Main symbol of the chart.

This is a great example of how to use the PSP in a different timeframe and a different symbol to generate trades.  It is also a great research vehicle for finding the best symbols to trade using the 4% system.

To download the strategy you must be logged in a gold member.  If you are not a gold member you can upgrade here:

http://www.redliontrader.com/membership/

[hide_from level=”Annualgold”‘]

This content is only available to premium members.  If you would like to join and have access to all my indicators checkout the current special being offered here:  <a href=”http://www.redliontrader.com/membership/”>Premium Membership </a>

[account_login url=”stay”]

[/hide_from]

[show_to level=”AnnualGold”]

Download:

Installation Instructions:

1. Download the ELD and install first

2. Download the sample worksheet

ELD Download:

!Worksheet Download:

[/show_to]

Ned Davis 4% indicator–or a generic 4% weekly indicator

In celebration of TradeStation Bonanza weekend we are putting out a beta version of our 4% indicator free for those registered on the site.  We are also issuing a 4% backtesting strategy for our gold members.

This indicator is a nice example of using the new TS9 price series provider object to retrieve price data from a 2nd symbol using a different timeframe.  Currently that time frame is fixed to weekly.

 

If you need reminding what the 4% system is you can go here:

http://www.redliontrader.com/tools/zweig-ned-davis-4-system/

The defaults are set to retrieve the Value Line Index which is the basis of the 4% system.  Once nice thing about the indicator is that for most of us, the Value Line Index $VAY is available only delayed.  TradeStation does not allow you to mix delayed data streams with other symbols.  The Price Series Provider does, however.

 

The sample worksheet has the Value Line Index driving the indicator, while any other symbol can be used as the main chart symbol.  For anyone who has tried this before using just data streams you are now saying “Cool”.

 

image

(click on the chart to enlarge)

The chart above is the Continuous SP500 futures contract on a daily basis with the 4 % indicator below showing the % move of the value-line index.  You can clearly see from the indicator that we had several buy signals (the red line moves above the 4% blue line) since September, but this is the first time we have a sell signal (line moves below the –4% yellow line).

 

We have several enhancements planed for this indicator but we want to get a beta version out there for our members to try.

image

The inputs are quite simple.  The symbol you want to use to track, in our case the Value Line Symbol $VAY and where you want to draw the oversold and overbought lines and again in our case 4%.

Hope you enjoy it.  Let us know what you would like to see for future development.  Remember this has to be TradeStation 9.0 our above to use!.

 

This download does not include the strategy for backtesting or trading.  That is only available to gold members.  If you are interested in using the strategy and becoming gold you can find out more here:

http://www.redliontrader.com/membership/

[hide_from level=”Annualgold”‘]

This content is only available to premium members.  If you would like to join and have access to all my indicators checkout the current special being offered here:  <a href=”http://www.redliontrader.com/membership/”>Premium Membership </a>

[account_login url=”stay”]

[/hide_from]

[show_to level=”AnnualGold”]

 

Installation Instructions:

1. Download the ELD and install first

2. Download the sample worksheet

ELD Download:

Worksheet Download:

!RL_WW Strategy and Backtesting Vers 1.0

Backtesting Strategy:

For back-testing and strategies you must be a Gold member to download and to get support.   You can then download all the premium indicators, get 1/2 hour of one on one support and access the 10 day trades mechanical trading system. http://www.redliontrader.com/membership/

!RL_WW Strategy:

 

This is a strategy for back-testing and research.  I have enclosed both the ELD and a sample worksheet using the strategy and with TradeStation’s Timed Exits (exit on a fixed number of bars).  You of course can use any exit you wish.  This strategy only goes long or short.  If you do not provide your own exits, the strategy will stay in the market 100% of the time, alternating between long and short.

 

The inputs are :

image

Input Description
adv_up: Data Stream containing either the advancing or up volume symbol
dec_dwn: Data Stream containing either the declining or down volume symbol
len: The length of the interested ADT or UDT
buyThrustLength: The time window to look for a Buy Thrust move (if negative looking for a downward thrust  from Overbought to Oversold)
0 = disable thrust buying
sellThrustLength: The time window to look for a Sell Thrust Move (if negative looking for a downward thrust  from Overbought to Oversold)
0 = disable thrust selling
os_buy: The oversold  value for the buy logic
ob_buy: The overbought value for the buy logic
os_sell: The oversold  value for the sell logic
ob_sell: The overbought value for the sell logic
buyX: Buy on a cross of the absolute value of this input, if the input is negative the cross is above to below, if positive the cross is below to above
0 = disable cross trigger for a buy
shortX Short on a cross of the absolute value of this input, if the input is negative the cross is above to below, if positive the cross is below to above
0 = disable cross trigger short
enbText If set to true some text will appear on the screen indicating what entry condition the strategy is looking for
rev: Current revision of the strategy.

 

There are two modes of entry in this strategy.  A thrust mode and cross mode.  Both can be disabled by placing a zero in their values.

 

It is possible to have both modes on by simply setting their values as desired.

 

Example WorkSheet Setups:

image

 

Example #1: Buy and Shorting Thrusts (left)

 

image

This is  the worksheet example that is packaged with the strategy:

 

  • In our example, data stream 4 is setup with $ADV, the NYSE advancing issues symbol. Data stream 5 is setup with $DECL or the NYSE declining issues symbol.
  • ADT length is set to 7 bars on our daily chart, so we are looking at an ADT7 calculation.
  • For a buy we are interested in a thrust length of 14 (a move from over sold up to over bought in 14 trading days) or for a sell or short we want a downward thrust of -7 (a move from overbought down to oversold in a 7 day period).
  • The levels considered oversold for the short and buy are both 35.8, for overbought 63.
  • The cross over mode is disabled via the buyX and shortX inputs set to zero
  • We have enabled the handy text to tell us how we are setup:

 

So what is the strategy doing?

Each bar, the strategy is generating a new ADT7 and looking over the past 7 bars to see if we have moved up from 35.8 to 63 in the last 14 trading days.  If so then we want to buy the next bar.

 

Or because we have a –7 in the shortThrustLength input, if our ADT7 has moved from 63 (ob) to 35.8 (os) during 7 trading days, we want to short the next bar.

 

Our example worksheet has a time bar exit strategy inserted for both closing shorts and longs.  The settings on these time exits are 5 bars.

 

image

 

Example #2: Watiing for a Cross for buying or shorting. (right chart)

 

image

 

This example also looks at the NYSE advancing and declining issues setup on data stream 4 and 5 respectively.

We are :

  • Interested in an ADT7
  • The buy and short thrust trading logic is disabled via the 0 in buyThrustLenght and ShortThrust length
  • We ignore the settings in os_buy, ob_buy, os_sell, ob_sell since we are not in thrust mode
  • buyX is set to –50.5 so we want to go long when the ADT7 crosses below 50.5 (since it is a negative number)
  • sellX is set ot 46.99 se we want to short when the ADT7 crosses above 46.99
  • Hand text is enabled
  • We want the text place at 95% above the bottom of the screen

These ELDs and worksheets are available to gold members only.  If you are interested in joining you can do so here:

[hide_from level=”Annualgold”‘]

This content is only available to premium members. If you would like to join and have access to all my indicators checkout the current special being offered here: <a href=”http://www.redliontrader.com/membership/”>Premium Membership </a>

[account_login url=”stay”]

[/hide_from]

[show_to level=”AnnualGold”]

 

 

Download Strategy ELD:

 

Download Strategy Example Worksheet

 

If you have any questions or issues email: marlin@redliontrader.com or 617-803-4776.

Enjoy!

[/show_to]

Whaley ADT/UDT Indicators Vers 1.0

If you are not familiar with Wayne Whaley’s breadth work you should be.  Built upon the work of Dr. Martin Zweig, Wayne has developed a market model using several breadth patterns which include 52 week new highs/lows, Advancing/Declining strength and up/down volume and seasonals.  For his work, Wayne received the coveted Charles H. Dow award in 2010.  You can read Wayne’s initial Plane,Trains and Automobiles using this link.

 

Each night, Wayne publishes the best signals from his market model, which often include ADT and UDT or Advance/Decline Thrust or Up/Down Volume Thrust.  These are appended with the look back length, ie. an ADT3 would be a 3 day average of advancing/declining issues (number of symbols advancing as opposed to declining in price).

July 1st, 2011 Wayne wrote a piece on the double barrel 9:1 thurst: and his work often includes tables like this:

Double Barreled Lopsided Volume Reversal Days
When the Price Trend is 0-2
                   FORWARD S&P 500 PERFORMANCE
DATE  UDT1 UDT2 UDT3 UDT4  XMA0.01    1MT     3MT     6MT    12MT
19750127  1.1  5.2 91.7 92.6    0.01    7.16   14.93   18.47   31.44
19750409  8.2  2.9 91.2 91.6    1.03    9.28   14.44    6.68   21.14
19750919  8.9  6.6 97.0 93.7    0.25    3.47    3.40   17.12   23.74
19760105  5.2  3.7 91.9 93.4    1.05    8.44   11.81   12.45   13.16
19790103  7.3  3.4 90.2 91.5    0.11    1.74    4.70    4.39    7.59
19790327  9.1  5.7 90.0 90.4    0.70   -0.66   -0.20    7.54   -4.16
19791112  0.6  2.4 91.4 94.9    0.12    3.87   13.90    1.23   30.03
19860826  2.5  3.7 92.7 93.2    1.74   -8.15   -1.61   11.91   32.32
19870102  0.4  2.0 94.3 93.7    0.70   12.17   19.14   24.01    0.26
19880902  5.3  7.3 95.3 97.6    0.11    2.81    2.77    9.63   33.75
19890512  8.9  9.0 93.9 94.2    1.54    3.95    9.85    8.05   12.16
19970505  9.4  7.5 92.8 91.5    1.94    1.58   14.70   13.55   34.37
19971103  9.9  0.4 93.7 94.7    1.40    4.02    7.14   19.38   18.30
19981015  4.0  3.5 95.7 91.3    0.28    7.47   18.69   26.29   19.09
20040328  6.8  9.8 93.4 94.0    0.75    1.30    2.30    0.18    5.98
20040902  7.9  8.0 93.5 90.6    0.41    1.18    6.44    8.21    8.92
20060629  4.6  9.6 96.6 94.1    0.20    0.45    4.95   11.43   18.11
20090803  5.4  3.8 97.1 92.1    1.59    0.06    4.27    9.44   11.75
20100305  9.7  4.5 91.7 93.0    1.42    4.28   -6.48   -3.00   16.02
20100713  5.0  0.1 97.9 93.6    0.22   -1.47    7.56   17.20   22.31*
20101201  4.6  7.0 94.1 96.7    1.17    4.28    8.31    8.96   11.08*
20110701  8.4  3.7 91.6 96.3    0.99     ?       ?       ?       ?

#UP-DN =   18- 3   18- 3   20- 1   20- 1
AVG%CHG=    3.20    7.67   11.10   17.49
MED%CHG=    3.47    7.14    9.63   18.1

This table is a statistical historic performance of 9:1 up volume days using a UDT1.  I am more visual and would like to see the thrusts visually on the charts, hence the Whaley ADT/UDT indicator.

image

The red lines show us 9:1 down volume days.  Notice during the bottoming process we put in a series of negative 9:1 days.

 

The !RL_WW indicator released today can generate charts for an UDT/ADT of any length.  The inputs are:

 

image

Where:

Input Description
adv_up Data stream containing the advancing  issues or up volume issues
dec_dwn Data Stream containing the declining or down issues
len: Length of the data to do the averaging
thrust_length The number of days to move from Overbought to Oversold to create a thrust signal, or vice versa.
OS The value at which the thrust is considered oversold
OB The value at which the thrust is considered overbought.
Color_OB the color of the line line for an overbought condition
Color_OS the color for the line for an oversold condition
Color_Thrust The color to paint the line should a thrust condition exist.

 

The sample settings above are setup to look at an UDT or ADT of length 5 depending on how we have data stream 2 and 3 configured.  If we climb above 61.5 or below 40 the line will change color and indicate an Overbought or Oversold coloring.  If we go from the extremes in a 10 day trading period (thrust_length) then the line will be painted Yellow and a thrust alert will be generated.

 

image

 

The above chart is  generated with the example settings.

(Note that this chart has the indicator installed twice, one to generate the ADT and one the UDT)

 

Notes about setting up the data:

 

This indicator needs multiple data streams and the charts need to be setup accordingly.  The sample worksheets are available for download.

 

I like to leave Data Stream 1, ie, the default data stream, as the symbol I want to study, like the $SPX (SP500 index), and then use data stream 2 and 3 for up/down volume and 4 and 5 for issues advancing and declining .  This is how the data is setup for the above chart:

 

For TradeStation, there are a number of indexes available for study.  The format for the symbols are:

$UVOL = Up Volume

$DVOL = Down Volume

$ADV = Advancing Issues

$DECL = Declining Issues.

You can append a code to the symbol to get other indexes.  The default symbol without a code is the NYSE data.  The common codes that I use for my studies are:

RL = Russell 2000 ie. $UVOLRL

SP = SP500 ie. $UVOLSP

Q = Nasdaq Composite. ie. $UVOLQ

This is how to set up a chart for the SP500:

image

 

Sample Worksheet:

 

The supplied worksheet has 5 sample charts setup.

The upper left chart is the NYSE Advance/Decline data along with the NYSE index showing 7 different ADTs,

ADT2, ADT3, ADT5, ADT8, ADT13, and ADT21, which is a great study in visualizing how the different length ADTs work.

 

The remaining 4 charts are the NYSE, RUSSELL2000, Nasdaq COMP, and SP500 charts with their respective UDT5 and ADT5 plots setup (UDT on top ADT Bottom).

 

That gives you a great head-start in using the indicators.

 

image

 

To download the indicator and worksheets simply click on the link below.  You must be logged in to download and registered as a free member.

 

 

ELD Indicator:

Tradestation Worksheet:

 

Backtesting Strategy: soon

 You must be a Gold member to download and get support for back-testing and strategies.   You can then download all the premium indicators, get 1/2 hour of one on one support, and access the 10 day trades mechanical trading system.

[/show_to]

 

!RL_TraderPivots v. 4.3 Release

Version 4.3 adds:

Support for Pivot Boss’s Developing pivots.  This draws bars for the the pivots as they are developing for tomorrow’s trading.  Enter pivot type “d” in the format input box.

 

Version 4.1 added support for  Weekly and Monthly Pivots.

 

Version 4.0 adds:

1: Support for other Pivot Types

  • t” = traditional Trader Pivots
  • c” = Camarilla Pivots
  • w” = Woodie Pivots

2: User-defined pivot line colors

3: Ability to turn off any pivot line to keep charts cleaner

 

 

image image Format Box Description:

  • Pivot Type (“t” = tradtional, “c” = Camarilla, “w” = Woodies Pivots, “d” = Developing Pivots)
  • ShowTodaysOHLC = if set to TRUE will plot today’s open, high, and low lines
  • ShowYesterdaysOHLC = if set to TRUE will plot yesterday’s open, high, and low lines
  • ShowHalfPivots = if set to True will display a dashed line halfway between pivots
  • dateORsession = sets how transitions between days is calculated. If set to a 1 the indicator will use a date change to force recalculation of the pivots (good for stocks). If set to a 0, the indicator will use the end of the session to calculate the next pivot points (good for futures).
  • TxtOffset = Allows you to move the legend text around
  • newPivotsonClose = set to true will calculate tomorrow’s pivots on session close
  • ppColor – r4Color = allows user to select which color to use for a pivot level line.  Putting in a 0 will turn that pivot line off and not plot.
  • Vers. = Do not change this. This is the current version of the indicator and is used for support purposes.

This download is for gold members only.  If you have not Joined there is no better time then now!

[hide_from level=”Annualgold”‘]

This content is only available to premium members. If you would like to join and have access to all my indicators checkout the current special being offered here: <a href=”http://www.redliontrader.com/membership/”>Premium Membership </a>

[account_login url=”stay”]

[/hide_from]

[show_to level=”AnnualGold”]

 

This is the download for the latest release of !RL_TraderPivots

TradeStation MTF_RSI – Winner of TradeStation Developer’s conference Version 2.1 Updated

 

**** Notes of Version 2.1

Version 2.1 was released on 7/25/2011.  This version addresses several issues of the first release.

Better initialization of PSP data object

– Better handling of RadarScreen vs. Charts

– Rewrite of the RSI to more closely match the algorithm used in TradeStation’s standard RSI

 

Together, we can make this indicator even better.  If you have some feature you want, please use the comment section to leave your comments.

 

—> This indicator is easy to data starve so make sure you have enough data

 

This is a versatile multi-timeframe RSI indicator that can be used both for RadarScreen and Charts.  The MTFRSI allows for three different RSI timeframes and helps to identify convergences when a symbol is overbought or oversold as well as divergences when RSI’s move away from each other in reversals.

 

The MTFRSI does not use multiple data-streams as was necessary in the past but instead uses the new PriceSeries provider object available in TradeStation 9.0 and above. This indicator was one of the TradeStation 9.0 Developer’s challenge winners.

 

For RadarScreen, this is a breakthrough as previously it was not possible to have data from different timeframes available.

 

This indicator comes with a worksheet setup with both an intraday example and daily swing trade type example.

image

Inputs:

image

slow, med, fast = time interval (note: not length) of each RSI.  The time interval is encoded as such:

A positive input is interpreted as minutes.  The above example is a 60 minute slow RSI, a 15 minute medium RSI, and a 3 minute fast RSI.

 

A negative input between –1 and –7 is interpreted as days, so a –3 input would be a 3 day RSI of length rsiLEN.

 

Any number greater that –7 is weeks, so a –8 would be a one week RSI.

rsiLen = the common length for all the RSIs.

 

OB = the overbought value for the indicator, used to plot the lines on the charts and used for high lightening in the RadarScreen.

 

OS = The oversold value.

 

Version is the version number of the installed indicator and should not be changed.


 

An example of a swing trade type longer timeframe input setup follows:

image

Here we have a slow RSI that is 7 days, a medium RSI that is 1 day, and a 30 minute intraday RSI, all with a length of 14.


User Hints:

Make sure you do not data-starve the slow RSI.  The RSI data is calculated from an independent price object which is not linked to the time interval on either the RadarScreen or Chart Analysis window.  It is possible to change the timeframe on the Chart window, for instance to any time value, but you must have enough data on the chart to satisfy the data requirements of the slower RSI.   In general think 2X your RSI length.

For the example input set above with the 7 day RSI, you can put that on a one minute chart if you want (not sure why you would do that) but you would need 7*14 (rsiLen) * 2 = 196 days worth of one minute data to satisfy the slower RSI, so make sure your symbol is formatted to load that much data.


Useage:

Here are some examples of how I use this indicator.

image

The RadarScreen setup with the intraday setting I gave as an example is above and I have highlighted some stocks that I narrowed down from a larger list.

 

The chart below is a look at XRAY from the RadarScreen with the same indicator and identical setup installed on a Chart Analysis window.  I am interested in XRAY because it has a very strong 7 day RSI but the faster 30 minute RSI plunged into oversold.  On the previous day, XRAY made a new low, but the 30 minute RSI tells us there was some intraday strength and we actually got a higher 30 minute RSI (CYAN)  than two days ago.  That was the entry on the close of the previous day.

image

 

Now, looking at PAYX for a current setup –  I would go long on the close here with the confidence of the strong slow and medium RSI values. Check PAYX on 3/14/2011 and see if this trade worked.image

 

I am not as excited about this long as the previous example since we did not go oversold on the fast RSI, but I might take a shot here on the close, or wait for the open to see how the 33 area tests out to get in.

 

Now moving on to PCAR.  For the short fans, PCAR from our RadarScreen is an interesting short.

image

PCAR put in a very high 30 minute RSI into the overbought area on very weak long term RSIs.  There is a very high probability that the 48 and below area needs to reconfirm before this stock will move higher.  That gives you a chance for some profit on the downside.


 

There are several MTFRSI patterns that repeat and can be traded for profit,  like three-way convergences in oversold and overbought, extremes and confirming moves between the fast and medium RSIs.

 

To download the MTFRSI, you must be a gold member.  If you are not you can read about going gold here: http://www.redliontrader.com/membership/.  Gold membership entitles you to support and usage of all my indicators as well as access to our Ten Day Trade mechanical system.

 

 

 

If you are a Gold member and logged in you, should see the ELD to download below as well as a worksheet containing both the intraday and daily type setups.  Remember to download and install the ELD first and then the worksheets.

 

NOTE: This is now open to FREE members for now

[hide_from level=”Annualgold”‘]

This content is only available to premium members. If you would like to join and have access to all my indicators checkout the current special being offered here: <a href=”http://www.redliontrader.com/membership/”>Premium Membership </a>

[account_login url=”stay”]

[/hide_from]

[show_to level=”AnnualGold”]

 

 

ELD:

Worksheet:

[/show_to]

Release of Breadth Indicators with Scoring for TradeStation 9.0

Note*** New version 1.1 removes an event handler that was just a little too active and had the effect of bogging down the workstation.  Performance of 1.1 should be greatly improved.

 

This is version 1.0 1.1 release of two indicators, a chart transmitter and receiver that are specifically designed to be used on the workspace provided.  Although the symbols can change, the basic setup is specific and the workspace is included in the downloads.

 

image

The workspace consists of four charts.  The upper left chart is a look at the percentage of stocks trading above their 50 day moving average.  In general, if the signal line is above the 20 DMA (CYAN), I am bullish, if below, I am bearish.  This is a slow moving swing type indicator.  The histogram at the bottom of this chart is a combined score for the three tracked indexes.

 

The middle chart is a look at a 10 day cycle to determine how the market has moved in the last ten days.  Bars to the upside indicate upward movement in the market, negative bars the opposite.

 

The last chart on the top row is a look at 52 week new highs and is a great tell on topping divergence weakness (new market highs with a lower number of symbols making highs).  Stair stepping up and down indicates underneath weakness and strength that may or may not be reflected in the daily price of the index.

 

The bottom chart is a look at the $SPX (this symbol can be changed to whatever you like).  The histogram at the bottom is the combined breadth score for the nine indicators.

 

This chart and code ONLY WORKS ON TRADESTATION 9.0 AND ABOVE, as it uses the new OOEL extensions.  Source code is included and is a reasonable example of using the new global dictionary.

 

Input Parameters:

 

!RL_BreadthScore:

 

image

MAlen – Length of the moving average to use to calculate momentum

bType – Used by the global dictionary to uniquely identify the receiver’s data

MaxBars – how many bars back to look for creating the symbols

version – Current version (do not change)

 

!RL_HILOSim:

This indicator is used in the 10 day cycle window and must be installed separately for all three symbols.

image

Price: Type of price to use (High, Low, Close) – remember you can do math in parameter, inputs so if you want the daily pivot, enter “(H+L+C)/3” in the price input.

maLen: The length of the moving average

version: The current version – do not change

 

!RL_Breadth_Rcvr:

image

numElements: number of elements to expect in the GlobalDictionary

KeyPrefix: not used

version: current version do not change

 

This is a premium members only indicator and workspace so you must be gold level or higher to download this indicator:

 

[hide_from level=”Annualgold”‘]

This content is only available to premium members. If you would like to join and have access to all my indicators checkout the current special being offered here: <a href=”http://www.redliontrader.com/membership/”>Premium Membership </a>

[account_login url=”stay”]

[/hide_from]

[show_to level=”AnnualGold”]

 

This is the ELD with all 3 indicators packaged.  Remember to install this before the workspace.

Note: This is version 1.1 that removes an overactive event handler

This is the workspace that should give you the setup that looks identical to the picture above:

 

As always if you need support: marlin@redliontrader.com

 

[/show_to]

Releasing version 4.00 of !RL_TraderPivots.. for October.

imageMy October release is a reworked !RL_TraderPivots indicator for TradeStation.  This is probably the most popular indicator I have.

 

There has been several requests for some updates which included requests for different type of pivots so this premium release (version 4.0) includes support for Camarilla Pivots as well as Woodie pivots.  If there are users out there with different pivot calculations please let me know and I will be glad to add them.

 

To jump to the documentation and download you can go here:

http://www.redliontrader.com/i ndicators-3/tradestation/rl_pivots-trader-pivots/

 

Note that this release is for Gold Members only and is our October release.  The November release will be coming soon.  I am working with Frank Ochoa at PivotBoss.com to release his indicators and trading strategies from his latest book, Secrets of a Pivot Boss and these too will be available to premium members.  If you have not joined yet you can read more about gold membership and its benefits.

 

About Camarilla Pivots:

Calculations Used:

R4 = C + RANGE * 1.1/2
R3 = C + RANGE * 1.1/4
R2 = C + RANGE * 1.1/6
R1 = C + RANGE * 1.1/12
PP = (HIGH + LOW + CLOSE) / 3
S1 = C – RANGE * 1.1/12
S2 = C – RANGE * 1.1/6
S3 = C – RANGE * 1.1/4
S4 = C – RANGE * 1.1/2

Where R1 through R4 are Resistance levels 1 to 4, PP is the Pivot Point, S1 through S4 are support levels 1 to 4, RANGE is the High minus the Low for the given time frame (usually daily).

 

About Woodie Pivots:

R4 = R3 + RANGE
R3 = H + 2 * (PP – L) (same as: R1 + RANGE)
R2 = PP + RANGE
R1 = (2 * PP) – LOW
PP = (HIGH + LOW + (TODAY’S OPEN * 2)) / 4
S1 = (2 * PP) – HIGH
S2 = PP – RANGE
S3 = L – 2 * (H – PP) (same as: S1 – RANGE)
S4 = S3 – RANGE
Where R1 through R4 are Resistance levels 1 to 4, PP is the Pivot Point, S1 through S4 are support levels 1 to 4, RANGE is the High minus the Low for the given time frame (usually daily).

 

Here are some useful links I have for the Pivots:

Trading with Camarilla Pivots
Forex Trading with Camarilla Pivots

and of course the PivotBoss.com site: Secrets of a Pivot Boss

 

Woodie Pivots:

Forum post from Woodie’s site

 

There are plenty of sites for all pivot trading.. Just google..

 

If you have an issues or questions please feel free to write indicators@redliontrader.com or comment below.. Enjoy!