Channels

[traderTX]

currently I just use the regression channel tool to draw channels, but was curious if there is a way to just draw a standard channel, with configurable "curves". ex: upper line/lower line + midline, + 50% outside extension (outside of the channel drawn..similar to a standard deviation).

I would like to be able to configure these channel "deviations". If there is a way to do this within the regression channel feature I hav not found it.

Any ideas/help?

[NinjaTrader_Bertrand]

Thanks for the suggestion, unfortunately there's is no constant channel.

You could play around with the Pitchfork tool for this, it has inputs for additional lines to be drawn at predefined constant ratios.

[traderTX]

thanks Bertrand, could you add this constant channel to your list for development?

Also, when is the new version scheduled? I heard the release date was pushed back.

[NinjaTrader_Bertrand]

Yes, I will forward your suggestion to development. NinjaTrader 7 is scheduled for Q2 2009.

[Taters]

workaround

try Bertrand's suggestion:
use the pitchfork tool. Set type to:"Schiff".
The two lower points now define the channel low slope and the top point the channel high equal to that slope instead of the median like a regular fork. You can set the line values to areas inside and outside the channel you have created ie; +200 will create a line @twice the width of the main channel, +50 will make a center line, etc.
I would hope NT eventually makes a "real" channel tool in the future, but until such time you may find this workaround satisfactory.
Cheers,
Taters

[traderTX]

thanks Taters!