S&C Magazine Departments Traders' Tips TRADE NAVIGATOR: TRADE BREAKOUTS AND RETRACEMENTS
TRADE NAVIGATOR: TRADE BREAKOUTS AND RETRACEMENTS
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- Parent Category: Departments
- Category: Traders' Tips
- Written by Michael Herman
Trade Navigator offers everything needed for recreating the indicators discussed by author Barbara Star in “Trade Breakouts And Retracements With TMV” in this issue, and some of the indicators and highlight bars come standard with Trade Navigator.
You can recreate the custom indicators and highlight bars in Trade Navigator using the following TradeSense code.
First, open the Trader’s Toolbox, click on the Functions tab, and click the New button.
For the ADX price rising indicator, input the following code:
ADX price rising ADX (10 , False) > ADX (10 , False).1 And Close > MovingAvg (Close , 8)
Click the verify button. When you are finished, click the save button, type a name for your new function, and click OK.
Repeat these steps for the ADX price falling, Linda Raschke lower line, Linda Raschke upper line, and Linda Raschke middle line indicators.
ADX price falling ADX (10 , False) > ADX (10 , False).1 And Close < MovingAvg (Close , 8) Linda Raschke lower line MovingAvgX (Close , 20 , False) - (2.5 * Avg True Range (10)) Linda Raschke upper line MovingAvgX (Close , 20 , False) + (2.5 * Avg True Range (10)) Linda Raschke middle line MovingAvgX (Close , 20 , False)
Now that we have created the function, go to a daily chart and go to the Add to Chart window by clicking on the chart and typing A on the keyboard.
Click on the Indicators tab, find the indicators in the list, and either double-click on them or highlight the name and click the Add button.
Note you can add more than one indicator at a time: click the name of an indicator to highlight it. Then holding the Ctrl key down on the keyboard, click the names of other indicators to add, and click the Add button when you have all the desired indicators highlighted.
Indicators to add to the chart are:
CCI MovingAvg Keltner Upper Band Keltner Lower Band Linda Raschke Lower Line Linda Raschke Middle Line Linda Raschke Upper Line
To add the Highlight Bars, go to a daily chart and go to the Add to Chart window by clicking on the chart and typing A on the keyboard.
Click on the HighlightBars tab, find the Highlight Bars in the list, and either double-click on them or highlight the name and click the Add button.
Highlight bars to add to this chart are:
ADX Price Falling ADX Price Rising
On the chart, click and drag the labels for MovingAvg, Keltner Upper Band, Keltner Lower Band, Linda Raschke Lower Line, Linda Raschke Middle Line and Linda Raschke Upper Line into the same pane as the price bars.
You will need to adjust the values for the CCI, MovingAvg, Keltner Upper Band and Keltner Lower Band.
Click on the chart and type E. Highlight the desired indicator and change it to the desired values and color in the chart settings window.
Change the CCI period to 21.
Change the MovingAvg, Keltner Upper Band and Keltner Lower Band bars used in average to 18 for each.
Chart settings:
Click and drag the Pane 1: Price below the Pane 2: CCI and click the OK button.
When you have them the way you want to see them, click on the Templates button, click <Manage chart templates>. Then click on the New button, type a name for the template and click the OK button.
You now have a template that you can add to any chart by selecting it from the Templates button menu. See Figure 13.
Genesis Financial Technologies has provided a library named “Trade Breakouts And Retracements With TMV” that includes a template named “SC Trade Breakouts And Retracements With TMV,” which contains the custom indicators and highlight bars from discussed here. You can download a special file named “SC201202,” downloadable through Trade Navigator, to get this library.
FIGURE 13: TRADE NAVIGATOR, TMV
