Dear Seniors
Sharing the findings & AFL's as per Jayakrishnan based on his observations.
Would sincerely appreciate if we can be hand held by seniors on this group to test the same for the benefit of one and all in this group.
I would like to take this opportunity to thank Jay for sharing his observations to us.
We need to test the following setting as per your own convenience:
The observations and important points learnt from the CCI forum is the
following:
Settings:
File ---> Database setting ---> Base time interval = Tick (besides the settings in snapshots sent by ST and Abhijit).
And following is AFL for the colouring of price
bars.
_N(Title = StrFormat("{
Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}",
O, H, L, C, SelectedValue( ROC( C, 1 ) )
));
m = MACD();
s = Signal();
Color = IIf( m > 0 AND m > s, colorGreen, IIf( m <
0 AND m < s, colorRed, colorBlack) );
Plot( Close, "price", Color, styleBar);
PS: For Nifty futures it is 12 R and for Bank Nifty 20
R. And the method works well only for these two indices.
Once we know how to set this Range bar, during the day we
can try different numbers and look at the watch to find out
where we get less whip saws and clear entry signals.
The following has be tried and tested and conclusions arrived
at these numbers 12, 20 after lot of trial and error method.
BUY ENTRY:
When the MACD is above its moving average AND above the
0-line, then at the completion of the first green bar, place your BUY STOP order at the value of the Upper Bollinger Band.
At the completion of the second green bar if you have not reached your entry price, you will then move your BUY STOP order to the new value of the Upper Bollinger Band.
If the prices are trading above the Upper Bollinger Band at the
completion of your first green bar, you will then enter with a MARKET ORDER to get an immediate fill.
SELL ENTRY:
When the MACD is below its moving average AND below the 0-line, then at the completion of the first red bar, place your SELL STOP order at the
value of the Lower Bollinger Band.
At the completion of the second red bar if you have not reached your entry price, you will then move your SELL STOP order to the new value of the
Lower Bollinger Band.
If the prices are trading below the Lower Bollinger Band at the completion of your first red bar, you will then enter with a MARKET ORDER to get an
immediate fill.
Thank you all in advance
Floyd
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