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LBR Trend and JB Profit taking indicator
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cmacdon View Drop Down
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Joined: 09 Sep 2012
Location: Brisbane
Posts: 236 		Post Options Post Options   Quote cmacdon Quote  Post ReplyReply Direct Link To This Post Topic: LBR Trend and JB Profit taking indicator
    Posted: 30 Dec 2012 at 10:08am
Code with the OR Statements is below:
 

{Mainly Per LBR Manual p 15 but Amended with OR statements in the Wave definitions}

[target

=Price;]

n :=

input("Time periods for highest high",14);

type :=

input("Is this Stop for 1 Long or 2 Short",1);

S2 :=

input("No. of ATRs multiplier",2.5);

Upwave:=

If(type=1,Lowest(L,n)+((atr(n))*s2),undefined);

[color

= Green; linestyle=Dotted; width=2;]

Upwave;

　

Downwave:=

If(type=1,Highest(h,n)-((atr(n))*s2),undefined);

[color

= Red; linestyle=Dotted; width=2;]

Downwave;

 

[target

=Price; linestyle=PriceColor]

 

[name

=Downwave; Color=Lime Green] {Downwave}

If

( C>=Upwave OR C>=DownWave,1,undefined);

[name

=High Vol; Color=Red] {Upwave}

If

(C<=Downwave OR C<=DownWave,1,undefined);
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cmacdon View Drop Down
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Joined: 09 Sep 2012
Location: Brisbane
Posts: 236 		Post Options Post Options   Quote cmacdon Quote  Post ReplyReply Direct Link To This Post Posted: 30 Dec 2012 at 10:05am
I forgot to add this  version yesterday.
 
I have a variation of the LBR Trend indicator using OR statements in the indicator wave definitions.  Thiis version is not from the LBR Manual mentioned above overcomes some potnetil whipsaws in up trends so may get you in earlier and stay longer.  On down trends may show green bars that might otherwise be a truning point.  So as usual trader beware.
 
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cmacdon View Drop Down
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Joined: 09 Sep 2012
Location: Brisbane
Posts: 236 		Post Options Post Options   Quote cmacdon Quote  Post ReplyReply Direct Link To This Post Posted: 29 Dec 2012 at 8:40pm

{cmacdon code for Trend Indicator from  LBR Professional Trading Manual p 15}

[target

=Price;]

n :=

input("Time periods for highest high",14);

type :=

input("Is this Stop for 1 Long or 2 Short",1);

S2 :=

input("No. of ATRs multiplier",2.5);

Upwave:=

If(type=1,Lowest(L,n)+((atr(n))*s2),undefined);

[color

= Green; linestyle=Dotted; width=2;]

Upwave;

Downwave:=

If(type=1,Highest(h,n)-((atr(n))*s2),undefined);

[color

= Red; linestyle=Dotted; width=2;]

Downwave;

[target

=Price; linestyle=PriceColor]

 

[name

=Downwave; Color=Lime Green] {Downwave}

If

( C>=Upwave,1,undefined);

[name

=High Vol; Color=Red] {Upwave}

If

(C<=Downwave,1,undefined);
BC User since June 2007
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cmacdon View Drop Down
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Joined: 09 Sep 2012
Location: Brisbane
Posts: 236 		Post Options Post Options   Quote cmacdon Quote  Post ReplyReply Direct Link To This Post Posted: 29 Dec 2012 at 8:33pm
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cmacdon View Drop Down
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Joined: 09 Sep 2012
Location: Brisbane
Posts: 236 		Post Options Post Options   Quote cmacdon Quote  Post ReplyReply Direct Link To This Post Posted: 29 Dec 2012 at 8:33pm
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cmacdon View Drop Down
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Joined: 09 Sep 2012
Location: Brisbane
Posts: 236 		Post Options Post Options   Quote cmacdon Quote  Post ReplyReply Direct Link To This Post Posted: 29 Dec 2012 at 8:32pm
Here are comparativer charts with various settings
 
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cmacdon View Drop Down
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Joined: 09 Sep 2012
Location: Brisbane
Posts: 236 		Post Options Post Options   Quote cmacdon Quote  Post ReplyReply Direct Link To This Post Posted: 29 Dec 2012 at 7:13pm
About a month ago I searched the internet and found a PDF named Professional Trading Techniques by Linda Bardford Rashke. It apparently downloads from her Website LBR .com but on looking at the site I coulod not locate it.  On further searches I recollect that Aspen Graphics who LBR apparenmtly consults to may offer it to users.
It is a very good manual and on page 15 is a description of the "Defining the Trend" system that LBR apparently uses in back testing that I coded in Bullscript.
By conincidence today, I was contacted today by a Forum member about the JB Profit taking indicator which I advised I have never used and do not know what it is about.
 
However, having having looked at the Bullcharts JB Profit taking indicator applied to a chart I advised it is very similar to Linda Bradford Rashke's Trend indicator that she uses for backtesting.   The main difference seems to be that LBR uses 2.5 ATR and 14 days in her parameters and JB uses 2.0 ATR and 10 days in his parameters.
 
Accordingly I advised the forum member I would post my code for the LBR Trend indicator and  here are some chart comparriosn and the code I adapted for the LBR Trend indicator.  This will be posted in a few miniutes.
 
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