NinjaCoding @ NinjaTrader
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EMA14 pivot points identification using a 0.08 minimum drop size and a 3 bar hill size.
Before it was all hard coded pattern style identification. Very limited in my opinion and did not work well. Now you can experiment with this quite widely!
Its a fun counter but most valuable source code demonstration would be the framework for identifying the pivots them self. It was a long time plan for me to finally write an algorithm that will step out from a certain hardcoded pattern and identify pivots using variable parameters that could be set to any value. So in this particular case it will look for hill size and hill drop where hill size is how many bars around the pivot value we should have values that are beyond the hill drop size. This means we can have as many equal double tripple quadruple tops as we want too.
Consecutive meaning when you get lower lows or higher highs of either. So for instance if you keep on getting pivot up higher highs it will keep on adding +1 and if you get any lower high followed by another lower high it will zero out this count and start subtracting so going -1, -2etc. and same for low pivots.
The two lines below are simply consecutive pivot counters for pivots up and down.
You can input this algorithm with any input, not only price but any indicator plot as well. I plan to release it in context of reviewed code of my pivot analyzer indicator.
Two day pivots indicator released for our friend in some part of the world) NinjaCoding has clients from 52 countries!
Market internals filter doing its job. I would not expect dramatic result changes when a correct one is applied but usually it does smooth out the equity. In this case I only enter long on NQ if TICK NASDAQ is positive.
