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Exploring Charting Techniques 3

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Creating a Trading Strategy

Creating our own indicators and turning them into a trading strategy is something all technical analysts strive to do. Unfortunately, a lack of programming skills can often discourage us from accomplishing this. But there are ways to get around it. Here’s one way to create and backtest an indicator without writing any code.

The Basic Trading Idea

The basic trading idea First, please note that the purpose of this article is to provide an example of one way to create indicators and trading strategies without writing programming code. Thus, the indicators and strategies shown here are for educational purpose only. I’ll start with the basic strategy idea, one that I’ve already used before in this magazine; namely, the crossing of two specific moving averages. The first and faster average is the simple moving average of the typical price. The typical price is the high + low + closing price divided by three. The second average is a simple moving average of heikin-ashi recalculated prices, or haOpen + haHigh + haLow + haClose divided by four. In the first part of this article series on charting techniques in the July 2014 S&C, I presented the modified renko chart. This kind of chart filters out most of the noise found on standard fixed-time-related charts resulting in clear up and down moves and turning points. When you apply moving average crossovers on this type of chart, it will produce less losing trades than the commonly used fixed-time-related charts.

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A full description can be found in the Stocks & Commodities September 2014 publication.

Here is the code for the NinjaTrader 7 BloodHound Strategy and the SVEhaClose indicator.

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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

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