Narrow Range and Wide Range Bars

[abaskaran2]

Could someone tellme how I could cretae:

1. Narrow Range in past 7 days and color it Purple ( Say)

2. AND - Widest range day in past 4 days and color it say yelloy?

Thanks very much for your assistance with this.

[TURLIES]

Hi,
I did this a while back with the formula wizard. You can use the wizard to make any changes you want.

Paul

[TURLIES]

This identifies Outside Reversal Days.

[TURLIES]

This identifies "potential" Reversal Bars.

[TURLIES]

This identifies Inside Day Bars.

[fabrizio]

Originally posted by TURLIES
This identifies "potential" Reversal Bars.

Turlies didi you evaluate the signal in back testing? I read the script and find it simple & and interesting.

If you have some results please let me know it , otherwise I'll do it on my own.

bye

[TURLIES]

Hi Fabrizio,
No i haven't backtested this file. I completed these studies a few months ago when i was going through work by Alan Farley and Robert Minor. Basically, i personally find candle analysis to be another valuable support tool which needs to be used in conjunction with indicator analysis and market geometry.

I daytrade, and the problem is candle signals appear all over the place (as you will see when you apply the studies i've posted to an intraday chart), so they should really be used as another tool for cross-verifying all of the signals "together".

As for "Daily" analysis, they carry more weight in their effectiveness as signals - but again, use other tools to verify these tools.

Paul

[fabrizio]

Turlies

I do use candle patterns as indicators and for cross reference ( Long tail reversal i.e. is one of my favourite ones)

I spotted your post since I'm day trading with Aget and 150% Tom Demark indicators and studies. So triyng to correctly and timingly identify the exaustion of price movement ( and consequently the possible reversal) is more or less one of my central interest.

[thaynes]

fabrizio,

could you point me towards the Demark studies you are using?

Thanks
-Terry

[TURLIES]

Hi csumma,
Heres the updated NR7 study you requested - it will set the background colour yellow of the NR7 bar.

Paul

[TURLIES]

Test this one also.

Paul

[fabrizio]

Originally posted by thaynes
fabrizio,

could you point me towards the Demark studies you are using?

Thanks
-Terry

Thaynes sorry, just see today your post following a turlie's one on narrow range

I use:
TD REI
TD ROC I & II
SEQUENTIAL , Most often COMBO
TD LINES
TD POINT REVERSAL

Those were always on as default.

Unfortunately I since I cancelled CQG and ESIG has no TDM studies , I really miss them very much.

I hope that they will soon be implemented under a fee agreement. I doubt howver for we DEMARKIAN are not so widespread since TDM needs a lot of study for setting ( reciclyng, TD TERMINATION COunts etc.....)

[fabrizio]

Continued


I forgot what I consider my "light"in the darkness, TD ALI ( TD ALIGNEMENT)
which togheter with the others allowed me great performances....

[dimitryg1]

tried several of nr7 formulas mentined on this thread and none worked...my bad?

[TURLIES]

Hi,

Test the formulas on different Instruments (eg: different stocks if thats what you trade) and on different time frames.

The formulas might be working fine, and if your not seeing any results it could be the fact that NR7's do not occur that often.

Paul