Wednesday, December 31, 2008

BollingerBandwidth Indicator for NinjaTrader

NinjaTrader didn't have my favorite indicator already pre-built in, so today I made my first custom indicator for NinjaTrader. The BollingerBandwidth indicator is essentially the same as the Standard Deviation indicator already built in.

The Basic Formula for the BollingerBandwidth indicator is:

Bollinger Band Width = (Upper Band - Lower Band)/Middle Band

As you can see, the Bollingerbandwidth indicator drawn matches the underlying Standard Deviation indicator. The direction of the two will always match each other regardless of the parameters used. With the Bollingerbandwidth indicator that I made, the only real thing that is added is a standard deviation parameter which can be used to reduce or amplify the shape of the indicator to match the standard deviation your using on your Bollingerbands. You could come up with a number of ideas to use the extra StdDev. parameter I've added.

In addition to the basic Bollingerbandwidth indicator I made 2 variations of this indicator which I prefer to use over the standard indicator (All 3 indicators shown in chart above). The first variation I made is an indicator which gives you the raw value between the Upper and Lower Bollingerbands.

Bollinger Band Width Raw = Upper Band - Lower Band

This indicator can be used a number of ways. For example, maybe you want to look for trades where there is a move in a stock of XX pts, or maybe you want to look for when the Raw bollingerbandwidth on ES is greater then XX pts.

The next indicator is my favorite variation of this indicator because it tells me the percentage between the upper and lower bollingerbands.

Bollinger Band Width Percent = ((Upper Band / Lower Band) -1) *100

I like to use this indicator because it is the easiest to understand. For example the standard bollingerbandwidth indicator normally gives values between 0.001-0.01, while the BollingerbandwidthPercent indicator gives you a pecentage of the difference between the upper and lower bollingerband, normally between 0.1-2.0% depending on the range of the move in the stock or futures contract. I like to use this indicator with a combination of other indicators for finding low volatility entry areas and high volatility exit areas.

I've made these indicators available for download for Free at

BollingerBandwidth Indicators

I've created a new website where I will be posting free Ninjatrader Indicators and strategies. My goal is to make a new indicator or strategy once weekly to share with others. If Traders have ideas or suggestions for me please leave a comment.

Tuesday, December 23, 2008

HPT 7min Vs 60min Trend Indicator for NinjaTrader Software

As many of you know, I'm testing out NinjaTrader to backtest my Quotetracker strategies.
Making custom indicators for NinjaTrader reminds me of when I was taking my first Visual Basic class. You basically spend 10min making the indicator and hours debugging for errors you've made.

I just got done setting up the basic 7min vs 60min Trend Signals for NinjaTrader; an indicator that I've given out in my basic Quotetracker Chart setup.

I did notice some small discrepanices for this indicator between Quotetracker and NinjaTrader as you can see from the LONG red arrows in the above chart.

I tried posting the code here, but BLOGGER has issues with the code and it doesn't post correctly, so I've put a Free Download link to the "HPT Seven Vs Sixty Minute Indicator" and I've added this indicator to my free download section.

Note- This file is written in C#. If you don't have NinjaTrader you can still view this file by unzipping the file and opening it with Notepad or Visual Studio.

Additionally, this indicator may be improved upon by using the MAX and MIN function in ninjatrader for finding the 60min high and 60min low respectively, as opposed to how I wrote the code (ie. High[60] , Low[60]). Based on how I wrote the code, I don't believe adding the MAX/MIN function will make a big difference, because it also looks back to the 30 period bar. I will likely improve this indicator in the future. If anyone has any suggestions or ideas, please leave a comment.

Saturday, December 13, 2008

Chart Setups for Quotetracker

I have a number of different chart setups with varying signals used. This is my most recent chart setup that I am testing out for the ATS. Indicators for buys/sells are based off a number of things like bollinger bands and the NYSE TICK trend.
The is my older ADX signal based chart.
Another ADX/Trend based chart.
This is the generic 7min vs 30min trend based chart. You will get the code for these signals when you download my Quotetracker chart setup file from the download link.
This is a plain Volume Profile based chart.

Wednesday, December 03, 2008

HPT's QuoteTracker Chart Setup Video Tutorial


QuoteTracker Chart Setup File- (HPT's Basic Chart setup with indicators)

NOTE- If you already have a backup file in QT, save your own BACKUP FILE first(make a copy, paste on desktop, rename it to your liking to go back to at a later time).

If the download above does not work here is the code for the paintbars

here is the buy signal-

if Bar High>bar high[30] and Bar High>bar high[60] and bar low<bar low[7] and bar high>bar high[1] set color to Blue

sell signal-

if bar low<bar low[30] and bar low<bar low[60] and bar low<bar low[1] and bar high>bar high[7] set color to Red

It took me 2 hours to figure out how to paste this code in blogger- Next time I will know I have to use a Parse service and then Block Quote the selected code in order for blogger to display it properly.


QuoteTracker Chart Setup File- (HPT's Basic Chart setup with indicators)

NOTE- If you already have a backup file in QT, save your own BACKUP FILE first(make a copy, paste on desktop, rename it to your liking to go back to at a later time).

For more info, go to My Quote Tracker Chart Setup page.

HPT ATS Perl Script - (script needed for automated trade system)

For more info, go to my Free Automated Trading System page.

HPT's 7 vs 60min Trend indicator for NinjaTrader .

For more info, go to my "HPT 7min Vs 60min Trend Indicator page"

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