A mahDualCandlePattern

A mahDualCandlePattern

Written by @ aligator on Ninjatrader and Futures.IO Forums - December 13, 2018

This is an Implementation of Ken Calhoun's Dual-Candle Momentum Breakouts, December 2018 TASC. The indicator uses an 8 period HMA for trend direction intended for intraday trades.

The MA period can be increased for trading stocks on daily charts. The indicator also exposes signals for Market Analyzer which is a very useful tool for scanning a stock list.

Also, a Multiplier option is provided to change the signal candle size. Use a value of 1 for Calhoun's method. Alternatively, use a multiplier larger than 1 for stronger and less frequent signals. Overlay the indicator in panel 1.

Notes:

Best trades are signals near the top/bottom of a swing following a reversal pattern such as a Doji, Hangman, Hammer, Engulfing, etc. bar. Other signals can be considered as continuation signals following retracements to initiate a new position or add to a current position. Confirm signals with your favorite momentum indicator.

For daily stocks, Calhoun recommends using $20 - $70 stocks and enter the trade 50 cents above the

high of the signal bar with a $2 stop in an uptrend.

Created By aligator
NinjaTrader Version 8
File Size 6.0 KB
Create Date 12/14/2018
# of Downloads 456

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