Does anyone have any advice on how to avoid getting chopped up? thanks
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Avoiding consolidation chop
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A couple of ideas:
- compare price or moving averages over a certain period
- examine the slope on slow moving averages
- evaluate the number of crossovers in indicators during a period
- get the percentage of the max minus the min of a period and see if that percentage is above a certain threshold
That being said, I am still googling for an answer to this... Good luck!
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A chop usually goes in a range. You can keep track of the high and the low of prices say 5 to 10 bars ago, calculate the difference Highest - Lowest and use a threshold of the result below which you would not trade. Could be a good indicator to code ...
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A very simple version also would be to check if the current price is at least near a recent high.
For example in ninjascript, you could check at least if the current price is 2% lower than the previous 200 candles high. Combined with other indicators and good risk management it can filter out a couple of false signals:
(Close[0] > MAX(High, 190)[10] * 0.98)
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Originally posted by ezrollin View PostNot an NT question.
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Hello ezrollin,
This question appears to be directed to the community for opinions.
However, if you do have any specific questions or have specific logic you are having trouble turning to code, I will be monitoring this thread to provide any insight.
My suggestion would be to define the rules of what is 'chop'.Chelsea B.NinjaTrader Customer Service
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