Plot text above bar high and below bar low

[TrendTracker]

I'm trying to create a text display to help in trading the Ping Pong strategy during sideways markets, as advocated by Rockwell Trading. Using 16 point range bars for the YM (8 tick range bars for the ES) the idea is to sell 1 contract at 1 tick above the previous bar high or buy 1 contract 1 tick below the previous bar low. Once you're into a position you trade 2 contracts on the opposite side, essentially "ping-ponging" back and forth. It seems like a good strategy as long as you can identify a sideways market with overlapping bars. Once the market begins to trend you're bound to start losing pretty fast.

I'd like to create an indicator that will plot the potential entry points as each last bar is being created. To do this the indicator needs to constantly add 17 points to the current bar low, and subtract 17 points from the current bar high, and then plot the sell value text above the current high and the buy value text below the current low.

I've played with creating various indicators in Ninjatrader, but this is pretty advanced for my capabilities. Anybody up to the challenge?

Thanks in advance.

Bob

[NinjaTrader_Ben]

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[Jason11]

Bob,

Did you ever figure this out?
You can just use range bar markers that would plot the high and low of the current range bar and that would tell you where the entries would need to be.

[philippe07024]

Here is my attempt at creating an indicator for RT trading method. For the time being, not sure how to remove the little dots.

Philippe



RTBuySell.zip

[Luvene]

Here is my attempt at creating an indicator for RT trading method. For the time being, not sure how to remove the little dots.

Philippe

Hi Philippe,

Thanks for the great job. Strange that you can't remove the dots, however maybe you can remove it now because your knowledge has increased? I wish I could do it myself

Luvene