PIT BULL TRADER Indicators

[gaheitman]

Update in post one. I've ditched the "TEST" and am calling this v2.1. This version includes the display of pips hinted at in a picture I posted last week. I also fixed a defect where Empty4 allowed me to process incoming ticks before it would allow me to call marketinfo().

Just to remind everyone, this indicator wasn't actually created to fill a need in Brian's system. It was created so I could visualize the P/L of all the open orders without having to open them, allowing me to see the impact of opening them at particular moments in time. In fact, I'm concerned it's existence muddies the water a bit, but not much can be done now.

That being said, for those of you actively trading this or related methods, what would you like to see in an indicator? Feel free to start from scratch in your thoughts.

George

[mobthehop]

George, let me be the first one to thank you for your patience (with all of us) and for coding this - may it be for your own purposes or us PB traders, it is much appreciated....

If I may, hopefully Angel will support this - could you offer another colour code for positions that are x pips positive (or negative)?

[Angel]

Salut Mob,

OUI, I support this !!

George, you're the best : thanks for you dedication to the PB's community.

Happy and fun trading all,

Take care,

Angel

[gaheitman]

George, let me be the first one to thank you for your patience (with all of us) and for coding this - may it be for your own purposes or us PB traders, it is much appreciated....

If I may, hopefully Angel will support this - could you offer another colour code for positions that are x pips positive (or negative)?

Update in post one.... Enjoy.

George

[Angel]

George,

I'm speechless (if my English is correct) !

Thanks, thanks a lot......................

God bless you,

Angel

[toddanderson]

I would agree adding and seeing a history would be helpfull so you can see where the trend started from, coming from




quote="garyfritz"]George, suggestion: one thing that's always bothered me about this indicator is that it's a snapshot. It tells you the situation NOW but not how it got there.

Maybe people who actually trade this thing will think I'm crazy, but... what if you added a "history" plot to the display? I'm thinking something like this:

PBhistory.gif

....etc -- I've only filled in a few of the lines. The lines show the profit amounts in the past.

So this lets you see where things are NOW, AND how they got there. In this case the red (EURUSD) is on the bottom, but that's because of its past movement. Its recent movement has been UP, meaning it's heading the wrong way now. It probably won't be on the bottom for long, but you can't see that from the standard text indicator. Meanwhile GBPCHF (the green line) is way back in the pack, but actually it's the fastest-moving pair.

Does anybody think that would be useful? And if so, George, will you kill me for suggesting it?? [/quote]

[tex]

Many thanks George, that's a wonderful update of your super indi

Would u add another color option please ? I'd like to keep the profit numbers red/green, and just have the pips color changed to blue when the pips treshold is hit.

Thanks again

[Bunker]

George,
First, thank you for this fantastic indi! We are far from just a simulation of the 10 or 14 pairs, we have all the info required to make sound decisions. Thanks to all the people who contributed. I’m always impressed with the quality of knowledge and posts that are going on here on SH Forum.

Now, for my “request of the day”. I’m not sure if this is a new indi or just an extension of the existing one but here it is:

I think the challenging part of PB strategy is to identify a trend reversal. Trend reversal happens at all tf so having a good definition of it is primordial before addressing this challenge.

I work and unfortunately don’t have the leisure of remaining in front of my laptop 24/7 (ok 8/5) therefore I trade using H4 and D1 tf. I realised that trend reversal happens often in a H1 tf and can give the false impression of a daily reversal, however the H4 tf gives a very good indication of a possible reversal. When I see a mix of color (red and green) in my bottom 5, I just wait for the reversal to happen before I trade again and most of the time, D1 follows. (I assume you can do the same strategy with lower tf such as M15 and H1).

The extremes (limits) of the rubber band are unknown. Some people say they trade when they see a total of 5, other trade when they see 15 pips profit…. But at what point do we decide not to trade even if the indi indicates to do so because of a possible trend reversal ?

Right now, the indi displays the summation of the BUYS vs the summation of the SELLS. I think if we had the daily Min and Max for the summations (of the Buys and the Sell) we would know where the current situation is located in relation to the spectrum (limits).

For instance, I didn’t take a trade this morning because the summation of the BUYS was 17 (on the H4). But this number didn’t mean anything until I realised that it went up to 40 at one point. So now I know the limit for the H4 (actually, I know only one side of it but no clue how deep in the negative zone it can get).

Sorry for the long post, but I think having a good indication of the current situation, compare to the range would provide additional valuable information.

Food for thought.

Bunker

[gaheitman]

Right now, the indi displays the summation of the BUYS vs the summation of the SELLS. I think if we had the daily Min and Max for the summations (of the Buys and the Sell) we would know where the current situation is located in relation to the spectrum (limits).

Bunker

The current value of each pair's P/L is dependent on the "open" time of the simulated trades. Would you want to show the daily range starting from the same absolute time as the indicator, or a different time? Also, what would want to see when using the relative mode for say 60 minutes ago?

George

[Bunker]

This is my indicator page,

The arrow points the number I monitor before making a trade.
It displays 8.43. Is this the maximum of the last 4 hour ?
If I see the the maximum within the last 4 hours was 35, chances are that it is losing momentum and trading a BUY may not be the best scenario. If I see that 8.43 is actually the maximum (and I know it can go up to 40), chances are that it is moving up.

I feel the 8.43 would have a greater meaning if compared with the max of that tf.

Does it make any sense ?

Bunker