Monday, 24 October 2011

I've been spending some time on Multicharts trying to find or create an indicator that I can layer on top of my DBDT indicator that will automatically highlight double tops and double bottoms.  The one on the following chart of my indicator working on E-Mini NASDAQ futures is one I drew in manually.  The ideal scenario would be to automate that part of the process;

It's not as simple as it sounds however, I found an indicator that can highlight these points but it can only do so on a chart of data for an underlying (eg S&P500 or NASDAQ futures) not an indicator plot such as mine above.  If I were able to do this it would be the first step to be able to systematically analyse trade set-ups using my indicator, rather than doing it manually.  If I could do that I'm sure it could provide some interesting insights into where I should be directing my energy however it's beyond my ability to do at the moment since I'm not conversant with Easy Language  (the programming language you can use to create indicators/strategies on Multicharts).

My indicator in black with the E-Mini NASDAQ in grey

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