DoQ_Indicators has been developed with the following setup:

  • Platform - RightEdge - minimal cost and well worth the money.

  • Broker - Interactive Brokers - Supports API trading, free historical and real-time intraday quotes, cheap commissions for day trading, not the  greatest but good enough.

  • Real-Time Data Provider - OpenTick - Free historical data, near free real-time (exchange fees).

  • Programming language - C# - tons of free snippets and tutorials on the net.

  • Development Environment for Indicators - MicrosoftVisual C# 2005 Express Edition - free download.

  For those of you with the RightEdge platform, I've uploaded DoQ_Indicators plug-in along with the source code. Download it and drop the dll in your plugins directory. Then (re) start RE. A new group should show up under the indicators tab called DoQ-Indicators. Any updates along with new indicators in the future will show up there. Hopefully others will join in and contribute their own indicators or ideas. So lets get the ball rolling.  For those of you unfamiliar with the RE platform, go here http://www.rightedgesystems.com and sign up. Free Trial and Free Support.

Version 1.0 of DoQ_Indicators includes:

  • Heikin-Ashi:  This indicator allows you to plot Heikin-Ashi O, H, L, C as separate series. Currently Bar Data for this is unsupported. For convenience, You can also plot a Heikin-Ashi Trend Chart which will show you which way the candle closed.
  • Median Series: This indicator plots the middle value for any selected series for a given period.
  • Hull Moving Average: Smoothed Price indicator with very little lag, but lots of overshoot.
  • VWAP: Stands for Volume Weighted Average Price and is usually used intraday to get the net average price of every transaction divided by the cumulative volume up to the current bar. Big boys use this value to make sure their buying/selling doesn't move away from this price.  You can also set a parameter with this indicator to change how many days to use for the calculation, the default being 1.
  • Pivot Points: Daily pivots usually used intraday. The indicator allows for S3, S2, S1, P, R1, R2, R3 plotting. In addition, you can also select the period to use for the Pivot calculations i.e. use previous 1 day for today's pivots, or use previous 2 days for today's calculation etc...

 

Below is a simple chart with Heikin-Ashi High, Low and Close plotted. Without bar data this looks cluttered so...

 

...just select Trend as the return type and you'll know at a glance if Heikin-Ashi is Bullish or Bearish. Note that the default doesn't allow for histogram style so you'll have to change that  from the properties window once the indicator is added to the chart.

 

Here is a chart with MedianSeries(High) and MedianSeries(Low) plotted. Call this dead-band trading as most of us get whipsawed using any indicator based on only one series. The oversimplified logic here is to buy above the high line and short below the low line.  If price enters the dead-band either abstain, stay long or stay short - call it noise. Careful in choppy markets, its not that easy!

 

This chart shows the Hull Moving Average (89 period in this example). The point of this indicator is to smooth price action as well as reduce inevitable lag. Slope Up = Long, Slope Down = Short. If only it were that simple.  You will also notice that there is quite a bit of overshoot, but that's another story.

 

Here is a chart with a nice intraday VWAP indicator. It defaults to break every 1 days but you could change that to whatever.  Remember that the VWAP indicator is only accurate if calculated on tick data. However you can get a really good approximation by plotting VWAP(High) and VWAP(Low) using, for example, 1 minute data. In other words, VWAP(Tick) lies between VWAP(High) and VWAP(Low) of a higher timeframe.

 

Ahh the famous pivots. Some find it useful, some not. One thing is for sure, combine this with another indicator/system and you have something powerful. At the very least, it'll put prices in perspective with what pro traders see. In this indicator, there is a parameter to customize the number of previous days to use for the calculations. Large numbers don't mean too much but 2, 3 days have defined support/resistance qualities.

 

Put it all together and you have a nice cheerful chart.

 

  These indicators are existing indicators that have been ported to the RE platform. You can check the forums at http://www.rightedgesystems.com/forums/Default.aspx under Technical Indicators to keep informed on the status of DoQ_Indicators and new ones to come. Now go and register for RightEdge! (btw, no affiliation with RightEdge whatsoever)

Download DoQ_Indicators  here: DOWNLOAD

  If you have questions or just willing to contribute ideas, you can ask away at info at this domain or better yet, post on the RE forums. Take a look at the Trading Systems thread first for specific questions on any downloaded code.