View Cart
Login
Register Now and Grab a FREE Spot!
Just enter your information below to grab a FREE spot in the DTS Training!
Discover Your Hidden Trading Strengths
Recent Posts
Follus Us 
- Blog
- Recent Posts
- Indicator Powered Point and Figure Bars
Indicator Powered Point and Figure Bars
Point and figure (P&F) is a charting technique used in technical analysis, used to attempt to predict financial market prices. Point and figure charting is unique in that it does not plot price against time as all other techniques do. Instead it plots price against changes in direction by plotting a column of Xs as the price rises and a column of Os as the price falls.
NinjaTrader is a great charting platform, but it is sorely missing Point and Figure bars. This innovative indicator takes the best from both worlds.
These Point and Figure bars are calculated based on any one of 11 key indicators.* The Indicator Powered Point & Figure bars help determine momentum or trend direction using the classic point and figure methodology. However, the algorithm is calculated based on indicator price as opposed to the underlying instrument.
*Currently used with 11 built in NinjaTrader indicators (RSI, MACD, StochasticD, StochasticK, ROC, CCI, ErgodocOscillator, Fisher Transform, Momentum, PriceOscillator, WilliamsR).
Read Indicator Powered Point and Figure Bars here: http://ping.fm/fi3Xg #NinjaTrader #futures #emini $$
If I were to build specific rules into my trading plan for the DTS system, what would the rules look like for long entries and for short entries? Hind-sight is always 20/20, if one missed the first entry, how do I know even if Boomerang shows a second entry, that the trend is not ending and get in only to get stopped out? Often, I will see a good flow, then what appears to be a re-entry point, with a Boomerang indication and find myself getting stopped out because the trend has now turned.
Hi Jay,
My rules are first… the GMMA (Both Red and Blue lines) must be moving in the same direction… ths eliminates most signals and only puts you into trending trades.Traders ALWAYS want to know when the trend is ending… well guess what, I do too, but that's impossible to know because you would have to know the future to be able to spot reversals. I'm not interested in picking tops and bottoms- that to me is a suckers game and I've wasted more money trying to do that in the last 24 years than I care to remember… People will tell you they can do it, but it's pure BS and you'll spend a small fortune trying to prove me wrong.
Stick to what works… when someting is in motion it tends to stay in motion. Think of a train rolling down the tracks at 60mph, that thing is not going to come to a compete stop in 500 feet… this is the same reason I use the GMMA… it finds things already in motion (Trends). If want to find trades that produce large R-Multiple (Risk vs. Reward), you have to find existing trends.
Jay, without looking at your charts and your Entries and Exits, it's very difficult for me to see exactly how and why you are getting stopped out. I would need to jump on your screen to see what's going on over there and if the setup is even being applied correctly. Check out the video below and take a look at how I am setting up the trade, this should really help you out:
Here is one of the most effective ways to trade Boomerang, watch this short 5 minute video: http://www.youtube.com/embed/yMK4a2tCKP8
Matt Bowen
Indicator Warehouse
Phone:
440-263-2084
E-mail:
matt [at] indicatorwarehouse [dot] com
Indicator Warehouse website: http://www.indicatorwarehouse.com
Indicator Warehouse Blog: http://www.indicatorwarehouse.com/blog/