[Share] Updated Trend Heat Map

[CashManic]

Greetings. :)

Recently I received the updated Trend Heat Map indicator from Ninjacators. Back in the day I uploaded the original Trend Heat Map indicator for I-I forum.However back then it would not work for Renko

and custom bar types. But the general trading community really took to it and this forced Ninjacators to work to resolve this compatabily issue. Well they have finally fixed The renko bar issue. Now you can use the Trend Heat Map Indicator for NinjaTrader with any bar type you choose… like renko, range including custom bar types!

Apart from the bartype issues, many knowledgeable traders wanted to build an automated trading strategy around the Trend Heat Map indicator.The original version was not strategy compatible, but this updated version now is.Please make sure that you remove the earlier version of the ncatTrendHeatMap indicator from your NinjaTrader before importing this new file ncatTrendHeatMapCalls. If you are suffiently proficient with Strategy Wizard you can now program a strategy around the Trend Heat Map indicator.This strategy version of the indicator will allow you to call the following values:

-SumBullWeak

-SumBullStrong

-SumBearWeak

-SumBearStrong

-SumNeutral

The strategy itself is not included,so you will need to use your own programming skills with Ninjatrader Stategy Wiazard (or that of a coder) to assist you in creating your own strategy.Please throughly read the included manual.This is clearly a trend trader tool.This indicator builds a “Heat Map” of multiple trend environments over different periods in real time. It will not only measure if there is a trend and but also in which direction the trend is and also measure the intensity of the trend.

All this information’s will be cumulated to one major “Heat Map” to give you a quick overview about the trend environment over multiple periods as well as the total overview about the Cumulative Trend Direction.

You need to learn about the Single/Cumulative Trend Barometer and the meanings of the different colors. The indicator has many customised settings too so please check the manual if unsure.

 

 

Download (manual included)

nCatTrendHeatMapcalls.zip (427.14KB)

http://www.sendspace.com/file/1l6uam

 

 

THM indicator day trading the NQ

YT vid on THM indicator

http://www.youtube.com/watch?v=8hzFoEUyoyE

 

Cheers:)

[kenny123]

Thanks Cash - this is really good imo.

[Traderbeauty]

Hi Cash

Thanks a lot for sharing.

I did look into this indicator- hmmmmm

hard to say- either i did not configure it right or ... lol.

I tried it with the default settings first ( on ES ) and then tried to change to renko hybrid 1 2 4 and 8 ticks.

I dont want to be a party popper but what i see is that by the time all the colors match - unless its a very strong and long trend - its usually the time to reverse direction.

I did test another system today RAMPAGE and as weird as it sounds and as hard for me to accept it- i want to tell you that the 3 minute chart- YES A THREE MINUTE CHART - was giving the trend direction all the time.

Anyway- this is my 2 cents opinion and would love to hear from anyone else about the usefulness of this indicator or maybe its settings.

Take care and remember- no globex this monday.

Traderbeauty-Jane

[Guest gavetso]

I THINK THE trend filter from Indicators Warehouse Hawk Scalper is better and more acurated

[kenny123]

Jane, any 3 minute trend indicator was giving a buy signal/trend all day long today. But in choppy markets it will hurt you very bad. I have tested it and there are many others much better. You will see.

[Traderbeauty]

kenny- i am going to use a 3 minute char with rampage as a filter for the direction but use the 2 tick renko for entries and exits.

jane

[kenny123]

ok Jane, I just saw some posted charts with a 3 minute ramp chart on most days and it was messy looking. Hard to see the trend on most days imo.

[Traderbeauty]

kenny

i agree-

in my trading method the most important thing is to identify the current direction- as simple as it sounds its not that easy in real time.

many times i think that i should short while the market is going up and i lose- but thats ok, no big deal, most of the times i do well and i dentify the direction.

when i say direction i mean the current direction- not the daily or yearly etc.

if you know what the direction is then u cna enter using the 2 tick renko etc.

jane

[kenny123]

Jane - I like to look at a higher timeframe using say a 6 or 8 reno bar using the navitrader bars for guidance (green or red), it works very well, then take entries on a 2 renko. Just my 2 cents.

[⭐ flipper26]

kenny- i am going to use a 3 minute char with rampage as a filter for the direction but use the 2 tick renko for entries and exits.

jane

@Traderbeauty, I am just curious, have you done further testing with the 3 minute chart and do you still think this is a good filter for trend direction? Thanks

[Traderbeauty]

Hi Flipper-

I did and i dumped it.

All it is a longer term moving average.

On a very strong continuous move it will keep you in the same position without exiting which is really good- for example- some big long moves on the es that we have lately.

But... on short moves it will kill you and distract you because it will try to keep you long while its actually time to go short etc.

You could easily just have a small 6 or 8 renko ticks on your screen and let these charts tell you where the bigger picture is.

This is also an answer for kenny-

It sounds great, i mean- can you imagine how simple would it be if we could look at a 6 or 8 tick chart and if its green then look for long entries on a 2 tick and vice versa.

It sounds great but most of the time it wont work.

the market is dynamic , sometimes you have small legs of few points and sometimes the legs are 6-15 points long.

The only way- and i repeat- the only way to trade successfully is by watching these legs and identify the direction of the move and then just go in accordingly with the trend.

Traderbeauty-Jane

[supertrade]

Hi Manic, could you please re-upload THM indicator? thxs!