Need Indicator ideas for identifying extended runs

[shazzmoe]

I have developed some indicators that are helping me a great deal with my day trading. However I'm a fan of automation so I'm looking for an indicator that can identify what my eyes are seeing.

The main thing preventing my automation is that I do not know of an indicator that can accurately identify extended runs. I'm currently trying serveral different settings on all the overbought/sold indicators i know of but they aren't getting it right.

To clarify what I mean by "extended run" : when looking at a tick chart there are times when the market will move one direction for a distance greater than the norm. This cannot be defined strictly in terms of time or distance and is easily identified by the human eye.

A down run will typically have more red bars than green but the quantity is irrelevant as well because having several short green bars and a few really long short ones could be an extended run.

Any suggestions would be appreciated

[NinjaTrader_RyanM1]

Hello shazzmoe,

This is one of the more challenging parts of script / strategy development - taking a visible chart pattern and turning this into an objective rule set. Unfortunately NinjaTrader support cannot offer much in defining "extended run" for you, but will leave this open for other community members to offer input.

[koganam]

You simply have to objectively define what you consider to be an extended run, then code it. As an example, ****** (because he is so litigious, even after publishing all the descriptions himself, the TomD name is almost always blanked out by trading fora, but you should know to whom I refer), considers it the start of an extended run if his overbought/oversold indicator stays in overbought/oversold territory for 6 bars.

Every trader has to define his own, then deal with the issues that arise.