{"id":429,"date":"2012-06-20T15:34:33","date_gmt":"2012-06-20T19:34:33","guid":{"rendered":"http:\/\/www.innovative-trading-solutions-online.com\/new\/?page_id=429"},"modified":"2021-02-07T10:34:29","modified_gmt":"2021-02-07T15:34:29","slug":"trendpivots-charts","status":"publish","type":"page","link":"https:\/\/www.innovative-trading-solutions-online.com\/new\/trendpivots-charts\/","title":{"rendered":"NinjaTrader ChannelPivots Bar Chart"},"content":{"rendered":"

ChannelPivots Bar Chart 2.0<\/strong>
\n<\/strong><\/span><\/h1>\n

***<\/strong><\/h2>\n
\n
\n

\u00a0This new Renko style chart uses a single price channel concept instead of the dual price channel overlap concept.<\/strong><\/span><\/p>\n

Click on images below for zoom view<\/span><\/h2>\n

New \u2013 This bar chart is now viewed using two Custom Chart Styles <\/strong><\/span><\/p>\n

.<\/p>\n

Chart Style \u2013 <\/strong><\/span>RJay Classic Candles<\/strong><\/span><\/p>\n

\u00a0<\/strong><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 ChannelPivots \u2013 7 \u00a0<\/strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 <\/strong>ChannelPivots \u2013 4<\/strong><\/strong><\/strong><\/strong> \u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <\/strong><\/strong><\/strong>ChannelPivots \u2013 12<\/strong><\/strong><\/strong><\/strong> <\/strong><\/strong><\/strong><\/p>\n

\u00a0\u00a0<\/a>\"ChannelPivots<\/a>\"ChannelPivots<\/a>\"ChannelPivots<\/a><\/p>\n

 <\/p>\n

Chart Style \u2013 <\/strong><\/span>RJay XRay Candles<\/strong><\/span><\/strong><\/strong><\/strong> <\/strong><\/p>\n

 <\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 ChannelPivots \u2013 7 \u00a0<\/strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 <\/strong>ChannelPivots \u2013 4<\/strong><\/strong><\/strong><\/strong> \u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <\/strong><\/strong><\/strong>ChannelPivots \u2013 12<\/strong><\/strong><\/strong><\/strong> <\/strong><\/strong><\/strong><\/p>\n

\"ChannelPivots<\/a>\"ChannelPivots<\/a>\"ChannelPivots2<\/a><\/p>\n

.<\/p>\n

(Click on images\u00a0 for larger view. Click on image to advance to next image.)<\/p>\n

.<\/p>\n

Channel Pivots Chart Description<\/strong><\/p>\n<\/div>\n

These bars now plot with the real\u00a0 Open* \u2013 High \u2013 Low \u2013 Close values and are back-testable.<\/p>\n

( *Open value is the close of the prior bar. )<\/p>\n

New Chart Styles are selected in the Chart Data Series Style selection drop down menu.<\/p>\n

\n

.<\/p>\n

Available only on the Ninja Trader platform, Although this chart type was built\u00a0specifically <\/strong>for automated trading, it can also be used for discretionary trading.<\/p>\n

.<\/p>\n

What makes this chart type so interesting is that the data stream price data, is processed prior to being plotted on the price chart.<\/p>\n

Through this processing technique,<\/p>\n

Virtually all “undesirable” price movement is masked\u00a0 and does not display on the price chart.<\/p>\n

This is very helpful for automated trading where the less variables to manage, the better.<\/p>\n

.<\/p>\n

Now, for the bars themselves, \u2026 there are two kinds of bars on this chart type, Trend bars and Reversal bars.<\/p>\n

 <\/p>\n

This price channel is fully dynamic and self adapting with each new bar.<\/p>\n

By setting, the, \u201cvalue\u201d variable, in the chart type series window, you select the channel width.<\/p>\n

To utilize this chart type effectively, you need to have a sense as to whether the market is trending or in a trading range.<\/p>\n

Once you determine that, simply activate an appropriate automated strategy.<\/p>\n

If you are using a strategy that needs a new bar open to execute, the trend bars on this chart type allow the earliest entry possible.<\/p>\n

I hope you will consider this chart type, for your automated trading or discretionary trading systems.<\/p>\n

.<\/p>\n

Secondary Series Information( Ninjatrader 7 Only)<\/strong><\/span><\/p>\n

This product can now be used as a secondary chart series in Indicators and Strategies.<\/p>\n

Code Examples are as follows\u2026<\/p>\n

ChannelPivots\u00a0 4 \u00a0\u00a0\u00a0\u00a0\u00a0 >>>\u00a0\u00a0\u00a0\u00a0\u00a0 Add(PeriodType.Custom0, 4);<\/p>\n

ChannelPivots\u00a0 7 \u00a0\u00a0\u00a0\u00a0 >>>\u00a0\u00a0\u00a0\u00a0\u00a0 Add(PeriodType.Custom0, 7);<\/p>\n

ChannelPivots\u00a0 16 \u00a0\u00a0 >>>\u00a0\u00a0\u00a0\u00a0\u00a0 Add(PeriodType.Custom0, 16`);<\/p>\n<\/div>\n<\/div>\n

.<\/p>\n

\n
\n

BackTesting:<\/strong><\/span><\/p>\n

While testing with real time data and market replay data is most accurate and preferred. If you must back-test,<\/p>\n

For ChannelPivots 2.0 – adding a slippage of\u00a0 one tick is preferred for realistic results.<\/strong><\/p>\n

.<\/p>\n

(Please review\u00a0Disclaimer<\/strong><\/a><\/span> prior to ordering product)<\/p>\n

Order Ninjatrader 7 Purchase<\/a>\u00a0 <\/strong><\/span>of this product.<\/p>\n

Order Ninjatrader 8 Purchase<\/a><\/strong><\/span> of this product.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

ChannelPivots Bar Chart 2.0 *** \u00a0This new Renko style chart uses a single price channel concept instead of the dual price channel overlap concept. Click on images below for zoom view New \u2013 This bar chart is now viewed using two Custom…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-429","page","type-page","status-publish","hentry"],"aioseo_notices":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/pages\/429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/comments?post=429"}],"version-history":[{"count":0,"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/pages\/429\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/media?parent=429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}