Reader BillM commissioned me to build this swing trading study some time ago. The premise is very simple: Go long when the price breaks above the highest high from the last n days and go short when the lowest low of the last n days is broken. The study is very discreet in that the display is a single horizontal line indicating the price threshold required for the next trade reversal on the current bar. Historical price triangles remain as reference markers for previous trades. Also shown are AutoFibs and Multi-Stops as well as a mechanical trading system that I have developed and am in the final stages of testing. The NDayHiLo will be added to the member’s bundle tonight.
N Day Hi/Lo Breakout
Wow, there is A LOT going on in that chart! Crazy stuff.
nice =) good to see the use of a combination of stuff in a system
hey eric, great indicator as always, btw, given this entry was more than a year ago, will the mechanical trading system ever be released to members? or the combo RSI+bb+stochastic study which seems to mirror your mechanical system’s readings to a very high correlation, but it would be nice to know where you are at as of now with regards to that project
David,
I have decided not to release this system until such a time as TOS allows me to protect my proprietary methods and source code. Supposedly this feature will be added eventually.
Eric
Eric, has TOS allowed protection of source code yet?
Not yet. I heard it is at least a year a way.
thx,
so you’re brown shoe, what VT did you start in?
20 years in a nutshell:
VT-3, VT-23, VT-21, VFA-125, VFA-137, VFA-125, VFA-146, CTW-2, USNA
-Eric
That mechanical system looks VERY interesting. If this doesn’t sound too invasive it’d be cool to get a general sense of what the histogram is based off of. Simply price action or is there volume that is also part of the equation??
I have moved implementation of this system over to NinjaTrader for automated trading. I’m getting some promising results but still have work to do. In any case, the code will remain proprietary for the foreseeable future.
-Eric