CodeForTraders

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WideBar Suite for MC

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Package: WideBar Suite for MultiCharts

The market makes an obvious move, quickly.  The recent, rough equality between supply and demand is clearly upset, visual and immediate on the chart for you to see.  Almost nothing is as obvious in the short term as a wide bar, sticking out from all the rest like a sore thumb.

But what does it really mean?   What sorts of opportunities are heralded, and how can they be quantified?

Does the wide bar represent new momentum, after which continuation is probable?   Or does it represent the running of stops and the folding of weak hands, after which a reversal is probable?   Maybe both, depending.  Until you've measured and studied, how could you know?

CFT's  WideBar Suite for MultiCharts will give you what you need in order to backtest, scan, and act-by-rule upon these key points of "impulse" and "flush" which engender so much emotion in traders who don't have a systematic way to deal with them.

What It Is

This package provides a trading strategy, a coordinated chart indicator, and a separate Market Scanner indicator that together provide the code you need to build your own testing and trading campaign based on WideBar market action..

What It Looks Like

Here's a picture showing wide bars and one approach to trading them on a 15m chart of the EMD:

Here is a view of a workspace with the Market Scanner indicator reporting wide bar status on a list of futures contracts:

Using the WideBar Suite with the Market Scanner in this way lets you visually monitor any list of symbols for their wide bar status.  If you set up lists of symbols for which you have previously run strategy tests, the Scanner indicator makes it easy to pick out symbols that are currently offering a wide bar opportunity of interest for trading (as determined by your tested historical performance).

Features

bullet   Strategy can trade long-only, short-only, or both sides
bullet   Strategy can trade "with" or "against" wide bars
bullet   Widebar definition is in percentage of market's recent Avg True Range
bullet   Latest post-EntryBar WideBar itself may optionally be used to define an exit
bullet   Special profit targets expressed in percentage terms of the WideBar range
bullet   MaxBarsToHold exit for testing raw potential
bullet   Target, Stop, PctTrail and EndOfDay exits built in
bullet   Complete set of standard points-based exits built in
bullet   Complete set of standard percentage-based exits built in
bullet   Signal code pre-written ready-for-sync with included cooperating indicator

 What You Get

bullet   The #P_WideBar_m02 signal.
bullet   The #P_WideBar_m02 chart indicator (can be used standalone, or in sync with strategy)
bullet   The #P_rWideBar Scanner indicator
bullet   Multiple demo Chart workspaces configured for trading "with" or "against"
bullet   Pre-configured Market Scanner workspace
bullet   Documentation in Word format explaining all the strategy and indicator input settings

 

The WideBar Package is delivered as full source code, so you can see exactly how it is done and customize or extend it for yourself in the future if you should ever feel the desire to do so.

The WideBar Package works with stocks, futures, and FX, and may be applied on any timeframe, from minutes up to months.

And, of course, you get  Customer Support as needed to get it all running.

Compatibility

Since this package is distributed as an open-code .pla file, it is believed to be compatible with all versions of MultiCharts, including those versions not downloaded directly from the TSSupport web site (e.g. distros by national or regional resellers, etc.).

What It Costs

$600 gets you all three professionally written and tested techniques, ready to be put to work for you!

WideBar Suite for MultiCharts -  $600 

How You Get It

This package will be emailed to you after your PayPal payment is processed.  Please be aware of the caveats before you order.