CZI Apsect of the ZLR Indicator in Woodies

[jd007]

Greetings Everyone,

Im curious to see if there has been an addition to the ZLR indicator within the Woodies panel. It is currently incomplete b/c of the fact that it does not account for the 'CZI nuances' that Woodie requires for a valid 'pattern'.

I love the ZLR and I would LOVE to see the ZLR indicator have the correct nuances that Woodie describes, such as a minimum of 3 red(short) or green(long) 25-LSMA bars (Zero-Line) which would confirm the 'pattern.'

I am trying to put this into automation and this would be the final piece.

[demarcog]

Re: CZI Apsect of the ZLR Indicator in Woodies

Originally posted by jd007
Greetings Everyone,

Im curious to see if there has been an addition to the ZLR indicator within the Woodies panel. It is currently incomplete b/c of the fact that it does not account for the 'CZI nuances' that Woodie requires for a valid 'pattern'.

I love the ZLR and I would LOVE to see the ZLR indicator have the correct nuances that Woodie describes, such as a minimum of 3 red(short) or green(long) 25-LSMA bars (Zero-Line) which would confirm the 'pattern.'

I am trying to put this into automation and this would be the final piece.

Jd007,

I haven't look at this in awhile, myself and Steve Meyer spent an incredible amount of time on this awhile ago. In particular coding some of the strategies in EFS for backtesting and eventually automation.

I know other have been successful trading these setups but our tesitng didn't go as well. We or should I say Steve coded 90 percent or more and we just put it aside for other things.

If you'd like to collaborate let me know, we have the code. Here is one simple function a first implementaion of the Chop Zone indicator where we were not looking for the last 3 but most recent bar. I imagine it would be easy to modify it.

Let me know if you need any other component as we may very well already have it programmed. Perhaps you can make some suggestions for improving the performance we encountered.

It's alot of code and much of it incorporated it into a library so it could cause confusion to anyone reading it.

I'm a little rusty on all the Woddie terminology but here is our sidewinder and chop functions which contain few library references and you may find useful.

//////////////////////////////////////////////////////////
// Chop                                                   
// This function computes the Choppyness indicator.       
// It returns BLUE if there is an up.                     
// Returns BROWN for down, and OTHER for not up or down.  
//                                                        
// Inputs: vEMA - 34 EMA series                           
//////////////////////////////////////////////////////////
function Chop(lvEMA)
{
    // check if ema is within 2 ticks of the close
    if(Math.abs(lvEMA.getValue(OFFSET) - close(OFFSET)) <= TICK2SIZE)
        return OTHER;
        
    // check if ema is above or below close    
    if(lvEMA.getValue(OFFSET) > close(OFFSET))
        return BLUE;    // above close
    
    return BROWN;       // default, below close
} // end of function Chop




// variables used by the Cross100 function
var v100State = UNKNOWN;  // keeps track of which 100 line we crossed last

/////////////////////////////////////////////
// Cross100                                  
// This function calculates if we've crossed 
// the +100 or -100 lines last.              
// Returns UNKNOWN until one of the line is  
// crossed. Returns P100 if the +100 line    
// was crossed last, and M100 if the -100    
// line was crossed last.                    
//                                           
// input: vCCI - CCI series                  
//        vTrend - up or down trend indicator
/////////////////////////////////////////////
function Cross100(lvCCI, lvTrend)
{
    var vCCINow = lvCCI.getValue(OFFSET);
    var Trend = lvTrend.getValue(OFFSET);
    
    // do we have enough valid bars in the series
    if(vCCINow == null)
        return UNKNOWN;
    
    // check if we've crossed the +100 line after getting 6 CCI bars above zero
    if(vCCINow >= 100 && Trend == UPTREND)
        v100State = P100;   // crossed 100+ line
        
    // check if we've crossed the -100 line after getting 6 CCI bars below zero
    if(vCCINow <= -100 && Trend == DOWNTREND)
        v100State = M100;   // crossed 100- line
        
    // check if we've crossed the -100 line in an uptrend
    if(vCCINow <= -100 && Trend == UPTREND)
        v100State = UNKNOWN;
        
    // check if we've crossed the +100 line in a downtrend
    if(vCCINow >= 100 && Trend == DOWNTREND)
        v100State = UNKNOWN;

    return v100State;
} // end of function Cross100 

[jd007]

Lets make it happen!

demarcog,

Yes, I have been working the 'patterns' for a very long time, and my experience is lacking in the programming department. I use ESignal of course, and have no clue as to HOW to take what you just sent me and make it appear on the chart, lol. I do, however, know how to automat this for the future, and it WILL Work.

I dont give much to backtesting just because of the way the market moved forward, not backwards. Ask the TS guys that hav 30 years invested in programming a system that can backtest, but cant make consistent profits. makes sense when you think about it.

Im not looking for automation....yet. I want to get there, but that will have to come one step at a time.

Currently, the ESignal inicator for Woodies CCI Charts will show you the following:

1. 'Sidewinder' (200-line) is trending up/down or not.
2. CCI Indicator line is above or below the ZERO-LINE
3. If the movement occured within the 100-Line (w/in the Chop-Zone Area, above/below the 100-line)
4. If these 3 are present, an indication goes off.

This is missing the main aspect of this pattern:

1. The Chop-Zone indicator (100-line / 34EMA) needs to have been moving up/down for 3 consecutive bar-closes. These are shown in dots on the Woody panel, and we look for 3 'dots' consecutively to execute the trade

With that said, we have the indicator we need to see when the ZLR pattern is 90% of the way there...we just need something to go off letting us know that we have a ZLR (according to the indicator we have) and then an ADDED indicator that determines that we have 3 consecutive Chop-Zone 'dots' (34EMA) that will confirm this pattern is legit and we can execute.

Please feel free to email me:

[email protected]