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Al_Gorithm
Posted : Wednesday, February 14, 2018 10:32:59 AM
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Joined: 6/30/2017
Posts: 926

Hey Bruce,

I know Elder's Impulse indicator can be created w/ PCFs, but since TC2000 already has Elder's Force Index, Elder Ray Bull Power, and Elder Ray Bear Power, you might as well add Elder's Impulse. It's arguably his most used indicator these days. It would be nice to have an off-the-shelf version available in the library.

Bruce_L
Posted : Wednesday, February 14, 2018 11:03:02 AM


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Thank you for your suggestion.

I have sent you a TCMail with a chart containing my interpretation of the Elder Impulse System implemented as a sort of OHLC Bar with a colored body like a candle.



-Bruce
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Al_Gorithm
Posted : Wednesday, February 14, 2018 11:26:52 AM
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Posts: 926

Thanks Bruce, you're awesome!

I've been away for a bit. Last I heard, you couldn't paint TC2000 price bars, candles, etc. How did you get this to work? Any chance of applying this interpretation to candles instead of OHLC Bars? (Elder uses old school bars ... I'm kinda old school but I do prefer candles, if possible).

Thanks again.

Bruce_L
Posted : Wednesday, February 14, 2018 11:38:01 AM


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The indicator is comprised of six parts, although the first part is entirely covered by other elements in my implementation.

The first part is standard OHLC bars set to plot white.

The second part is a red histogram going to the top of the body when price is above the EMA and MACD is up.

The third part is a green histogram going to the top of the body when price is below the EMA and MACD is going down.

The fourth part is a blue histogram which plots to top of the body when neither the red nor green plots.

The fifth part is a black histogram (this could be changed but should match the background color) which plots to the bottom of the body for all bars.

The sixth part is white OHLC bars re-plotted in order to replace the parts of the original price plot which got covered up.

The reason I went with the OHLC bars for both the first part and the sixth part is that it allows you to see the open and close. If you use candles instead, you would need to uncheck filled for both up bars and down bars in at least the sixth part in order for the colors to show through.

You could then use Color Based On to use the candlestick outline to color code for either a Net Change or Open vs Close.

You can experiment with the different Plot Styles for the first and sixth elements as desired. For example, if you set the first element to candlestick and the sixth element to OHLC bars with Net Change set for one and Open vs Close set for the other, you can actually get three colors for each bar (although it can be a bit subtle - I find it easist to compare the outline to the central line going up the center of the candle when doing this - also not using green and red for multiple things can help with this).



-Bruce
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bcochrane
Posted : Wednesday, February 14, 2018 11:43:55 AM
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Joined: 9/17/2010
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Could I trouble you for a copy?

Thanks

Bill Cochrane

Al_Gorithm
Posted : Wednesday, February 14, 2018 11:48:57 AM
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Joined: 6/30/2017
Posts: 926

Bill, I forwarded you a copy of what Bruce sent me. Enjoy!

Al_Gorithm
Posted : Wednesday, February 14, 2018 11:50:18 AM
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Posts: 926

I see I'm still a step slower than Bruce. Some things never change. ;)

Al_Gorithm
Posted : Wednesday, February 14, 2018 12:00:22 PM
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Joined: 6/30/2017
Posts: 926

Bruce, I'll stick with your version - it's awesome. These days I'm using Elder's Impulse on the 130 minute and 26 minute charts as a filter to determine my directional bias, then using something totally different on the 5 minute chart to enter & exit trades ... so I'll just keep your "sort of OHLC Bars" on my 130 and 26 minute charts, and standard candles on my 5 minute chart. It's all good. :)

Btw, this is genius:

QUOTE (Bruce_L)

The indicator is comprised of six parts, although the first part is entirely covered by other elements in my implementation.

The first part is standard OHLC bars set to plot white.

The second part is a red histogram going to the top of the body when price is above the EMA and MACD is up.

The third part is a green histogram going to the top of the body when price is below the EMA and MACD is going down.

The fourth part is a blue histogram which plots to top of the body when neither the red nor green plots.

The fifth part is a black histogram (this could be changed but should match the background color) which plots to the bottom of the body for all bars.

The sixth part is white OHLC bars re-plotted in order to replace the parts of the original price plot which got covered up.

The reason I went with the OHLC bars for both the first part and the sixth part is that it allows you to see the open and close. If you use candles instead, you would need to uncheck filled for both up bars and down bars in at least the sixth part in order for the colors to show through.

You could then use Color Based On to use the candlestick outline to color code for either a Net Change or Open vs Close.

You can experiment with the different Plot Styles for the first and sixth elements as desired. For example, if you set the first element to candlestick and the sixth element to OHLC bars with Net Change set for one and Open vs Close set for the other, you can actually get three colors for each bar (although it can be a bit subtle - I find it easist to compare the outline to the central line going up the center of the candle when doing this - also not using green and red for multiple things can help with this).

Thanks again!

bcochrane
Posted : Wednesday, February 14, 2018 1:44:51 PM
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Joined: 9/17/2010
Posts: 378

Thank you both.

Ingenious, Bruce!

Al_Gorithm
Posted : Wednesday, February 14, 2018 1:56:14 PM
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Joined: 6/30/2017
Posts: 926

Bruce,

I'd still like a column (probably 3 columns, I'm guessing) that I can sort on to gather together those charts that are currently Red, Green, or Blue.

I'm assuming you can't combine all three conditions in one column, so I'm thinking one column with a Green dot or checkmark, another column for Red, and finally a third column for Blue.

What's the best/easiest way?

Bruce_L
Posted : Wednesday, February 14, 2018 2:04:44 PM


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Joined: 10/7/2004
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If you just want three colors and you don't need it to be a dot or a checkmark, then use the following Indicator Formula as a WatchList Column.

SGN(SGN(C - XAVGC13.1) + SGN(119 * C + 765 * XAVGC12.1 - 65 * XAVGC26.1 - 819 * XAVGC9.1))

Then edit the WatchList Column and select Properties so you can set the Positive Color to green, the Zero Color to blue, and the Negative Color to red. Setting Decimal Places to 0 in the same window will minimize the space taken up by the WatchList Column.



-Bruce
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Al_Gorithm
Posted : Wednesday, February 14, 2018 3:14:46 PM
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Bruce, thanks ... that's a cool idea. 

I'm not married to the idea of a dot or checkmark ... one column of sortable values that display in three different colors actually sounds better.

Thanks again!!

HarleyBD
Posted : Wednesday, February 14, 2018 3:52:18 PM
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Joined: 6/30/2014
Posts: 25

Hi, Could I have a copy of Bruce's TCMail with chart?

Thanks

MM
Posted : Saturday, February 17, 2018 5:39:39 AM
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Joined: 1/15/2011
Posts: 38

Hi Bruce

Can I also have a copy?

Thank you

baldskits
Posted : Saturday, February 17, 2018 8:36:10 PM
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Joined: 6/15/2009
Posts: 5

Hi, Bruce,

Can I also get a copy?

Thanks.

 

Bodya77
Posted : Wednesday, February 21, 2018 2:00:06 AM
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Joined: 2/20/2018
Posts: 1

Bruce,

Could you please send me a copy as well? 

Thank you

King247
Posted : Thursday, February 22, 2018 11:35:16 AM
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Joined: 6/28/2017
Posts: 54

Bruce,

Could you please send me a copy of your Elder Impulse System? 

Thank you.

Partha223
Posted : Tuesday, February 27, 2018 8:05:45 PM
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Joined: 2/13/2018
Posts: 20

Hi Bruce,

Can you please send me a copy. Appreciate the forum support, its awesome/

 

0002ct
Posted : Wednesday, February 28, 2018 12:09:20 PM
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Joined: 11/19/2015
Posts: 378

Hello. Would it be possible to receive this in my mail, too?

Thank you, Bruce.

Nel2000
Posted : Monday, March 05, 2018 7:51:00 AM
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Joined: 2/1/2018
Posts: 2

Hi Bruce,

 

Can you please send me a copy ??

Thanks.

Sestayo
Posted : Monday, March 05, 2018 2:00:52 PM
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Joined: 2/1/2018
Posts: 2

Hi Bruce, 

Can you send me a copy please ?

 

Thanks,

kevc99
Posted : Wednesday, March 14, 2018 12:12:05 PM
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Joined: 5/14/2006
Posts: 1

Bruce   Could you please send me a copy of the Elder Impulse system

mdhuang
Posted : Thursday, March 15, 2018 8:55:00 AM
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Joined: 5/23/2006
Posts: 54

Bruce, I need a copy too. Appreciate it!

mdhuang
Posted : Thursday, March 15, 2018 6:47:07 PM
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Joined: 5/23/2006
Posts: 54

Amazing trick to create this chart. Thanks a lot, Bruce.

  

Al_Gorithm
Posted : Thursday, March 29, 2018 1:00:44 PM
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Bruce, you're a frackin' GENIUS! 

Bruce_L
Posted : Thursday, March 29, 2018 2:02:33 PM


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Joined: 10/7/2004
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You are the one who asked the question in a such a way to give me the idea of how to do it in the first place.



-Bruce
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Al_Gorithm
Posted : Thursday, March 29, 2018 2:25:28 PM
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QUOTE (Bruce_L)
You are the one who asked the question in a such a way to give me the idea of how to do it in the first place.

Bruce, you just made my day ... guess it's true that great minds think alike  - we make a great team. :)
 
Life got in the way about half-way through v16, and I've gone through a few different usernames since then.
 
By the time Michael hits Chicago May 18th & 19th I'm hoping to have a funded TC2000 brokerage account and a shiny new TC2000 username. Time to get some skin in the game. Going to start with Gold since I don't expect to trade intraday charts until my P&L is green from swing trading daily charts. Then I'll upgrade to Platinum.
 
When the time comes, I'll be peppering you with a lot of newbie questions and requests related to the new v17 and v18 features. I have a LOT of catching up to do. 
 
Haven't picked out a new username yet, but I still have my old favorite avatar. :)
 
"See" you soon. Enjoy your Easter weekend. Don't overdose on peeps!
 
 
 
 
 
Bruce_L
Posted : Thursday, March 29, 2018 2:32:00 PM


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Joined: 10/7/2004
Posts: 62,715

I will do my best to enjoy the long Easter weekend, especially since I will be on vacation next week.

Please have a great Easter as well.



-Bruce
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Al_Gorithm
Posted : Thursday, March 29, 2018 2:36:21 PM
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I will. Hope you get great sailing weather in the Hamptons for your yacht. ;)

Bruce_L
Posted : Thursday, March 29, 2018 2:48:05 PM


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Joined: 10/7/2004
Posts: 62,715

Thank you. I am sure I will have the wind at my back so to speak (although tacking tight to the wind is more fun).



-Bruce
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one100mil2016
Posted : Friday, March 30, 2018 3:51:10 PM
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Joined: 7/18/2016
Posts: 13

Hi Bruce,

Kindly forward me the TCMAIL as well.

Regards

AJ

Al_Gorithm
Posted : Saturday, March 31, 2018 9:08:46 AM
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Joined: 6/30/2017
Posts: 926

AJ,

It's Easter weekend, and Bruce is on vacation next week, so I took the liberty of forwarding you what Bruce sent me earlier.

Enjoy!

traderlady
Posted : Saturday, March 31, 2018 12:21:44 PM
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Joined: 10/7/2004
Posts: 1,067

To UnclePennybags...  I've wanted this ability to differentiate candles by color for so long, but didn't think it was possible.  So, glad you asked and pursued the question. 

I'd appreciate you forwarding me Bruce's "interpretation of the Elder Impulse System implemented as a sort of OHLC Bar with a colored body like a candle" since Bruce is on vacation in the coming week.

Thanks so much, traderlady

Al_Gorithm
Posted : Saturday, March 31, 2018 12:48:13 PM
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Joined: 6/30/2017
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traderlady, happy to help :)

Yeah, you can use PCF's and colored dots to differentiate candles based on Elder's Impulse scheme, but Bruce's candles are even better.

Give me a few minutes ... I'm in the middle of MetaStocks Online Summit ... when I get to a boring presenter, I'll log on to TC2000 and send you a TCMail. 

Stay tuned...

one100mil2016
Posted : Saturday, March 31, 2018 11:37:15 PM
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Posts: 13

QUOTE (UnclePennybags)

AJ,

It's Easter weekend, and Bruce is on vacation next week, so I took the liberty of forwarding you what Bruce sent me earlier.

Enjoy!

 

Thanks for the help

Al_Gorithm
Posted : Sunday, April 01, 2018 10:34:08 AM
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Joined: 6/30/2017
Posts: 926

AJ, happy to help. Enjoy. Good luck!

twigginsga
Posted : Wednesday, April 04, 2018 7:59:51 PM
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Joined: 3/25/2018
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Could I get a copy of the email as well please?  Thanks in advance.

puwind
Posted : Wednesday, April 11, 2018 8:01:26 PM
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Joined: 4/11/2018
Posts: 2

Hi Bruce,

Can I have a copy too. Thanks

bostonbombay
Posted : Thursday, April 12, 2018 5:20:34 PM
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Joined: 6/23/2015
Posts: 8

Hi Bruce,

Can you please send me a copy too. Appreciate your help.

Regards,

MK

 

Bruce_L
Posted : Friday, April 13, 2018 8:33:50 AM


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Joined: 10/7/2004
Posts: 62,715

I have sent you a TCMail with a chart containing my interpretation of the Elder Impulse System implemented as a sort of OHLC Bar with a colored body like a candle.



-Bruce
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