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TTM Squeeze and Medved Quotetracker…

Here are the detailed instructions on how to set up the TTM Squeeze Indicator in Medved Quotetracker:

You can also download the following TTMSqueeze.txt file and cut and paste it into your paintbar.xml file, which should be located in the “c:\program files\quotetracker” directory. Just cutout the code between the “” tags and place them in between yours.

  1. Click on the “Window” menu, then “Chart Paintbar Editor”:

    2. ttm1.gif

  2. Click on “Add New” and name your new Paintbar, “TTM Squeeze”. Add the following lines of code in two separate rules:
    • if (Bollinger Bands(20,2).Upper-Keltner Bands(20,1.5).Upper)<=0 set color to Red
    • if (Bollinger Bands(20,2).Upper-Keltner Bands(20,1.5).Upper)>0 set color to Green

    3. ttm2.gif

  3. Click on “Save the Paintbar”, then “close” the Paintbar Editor.

  4. Now, right click on any of your charts and then click on “select indicators”.

    5. ttm3.gif

  5. Add “Paintbar – Bottom” in the available Lower Indicators:

    6. ttm4.gif

  6. Click on “Edit” next to the the “Paintbar – Bottom” indicator, then add the “TTM Squeeze” indicator. Also, change the “Show On” parameter to “Shape Band – Zero Line”, choose “Foregnd”, Thick = 6, and Shape = circle. When you’re finished, click “OK”.

    7. ttm52.gif

  7. After you click on “OK”, it will ask you if you want to add the new indicators required for the TTM Squeeze. Just click on “Yes”.

    8. ttm6.gif

  8. When you are done, you can hide the Bollinger Bands and Keltner Bands top indicators by clicking on “Edit”, then selecting “Hide Indicator”. You’ll also have to add the Momentum Oscillator with the settings of 12,34. And make sure that you link the Paintbar(TTM Squeeze) and Momentum Oscillator(12,34) by clicking in between the two dots to the left of these indicators. At the end, your indicators window should look like this:

    9. ttm7.gif

  9. Click on “OK”. Your chart should have the TTM Squeeze indicator on them now and it should look like the following:

    10. ttm8.gif

I’m not going to go into detail about how the indicator works because you can find out more about it by simply doing a google search. If you feel like supporting the guys who created this thing, then please go to their website and purchase it:

http://www.tradethemarkets.com

http://www.quotetracker.com

This entry was posted on Tuesday, 24 October 2006 @ 12:43 pm on the category daytrading, old. You can follow any responses to this entry through the RSS 2.0 You can skip to the end and leave a response. Pinging is currently not allowed.

11 Comments


  1. Deef says:

    Here’s coding of TTM paintbar setup I found on some forums before, tried
    entering it in comments section but it gets jumbled up..

    if ((MACD(12,69,9) + Momentum(12))/2 >= 0) set color to lime
    if ((MACD(12,69,0) + Momentum(12))/2 < = 0) set color to red
    if Bollinger Bands(20,2).Lower>Keltner Bands(20,1.5).Lower set color to yellow
    if Bollinger Bands(20,2).upper<Keltner Bands(20,1.5).upper set color to yellow

    this way you get yellow bars signalling entering a squeeze, and green or red bar signalling going out of a
    squeeze..settings of the triggers probably need a bit more tweaking
    though..

    ↓ Quote | Posted October 24, 2006, 1:14 pm

  2. KG (subscribed to comments) says:

    Thanks for the directions Boog, this is tremendous. I continue to be amazed by Quotetracker.

    ↓ Quote | Posted October 24, 2006, 1:33 pm

  3. quickturtle says:

    Quotetracker is Da Bomb !! Gotta give those guys a lot of credit.

    ↓ Quote | Posted January 20, 2007, 4:20 am

  4. Setting up an Automated Trading System with Medved Quotetracker, Bracket Trader, Mailenable & Perl » Daytrading - Poker - Sportsbetting - Boogster’s Blog (subscribed to comments) says:

    [...] how the paintbar editor works. I have also written up a few examples of how to use the paintbars: TTM Squeeze & TTM [...]

    ↓ Quote | Posted April 15, 2007, 4:17 pm

  5. Anonymous says:

    Thanks for TTM Squeeze instruction. I was reading “Mastering the Trade” by John carter and I am trying to create Paintbar according to Scalper Buy and Sell page 165.

    I have been using this style of buy and sell for YM with some success. I don’t trade first 60 minutes from 9.30 to 10.30, I observe which way the market is trading and I use 5 minute and 144 tick chart. I average out 12bars of 5 minutes to give me the average range and half the range as a target.

    Example if the average 5 min range of first 60 minutes is 12 ym points then my sell target is 6 point ( half of 12)and 12 +1 =13 point is my stop.

    After 10.30 if the market is trending on the upside then I wait till the price action of 5 min bar stops going up and start to go down. I draw line at the top of the highest bar and I draw line at the lowest value of 2nd -5minute bar on the left of the highest bar. If the price drops below the bottom line then I short or if the top line is violated then I go long.

    I like to automate is style of trading but am not very technically inclined. If you can teach me how I can create Paintbar according to this strategy and how I can automate my trading rather than watching YM chart from 9 am – 4 pm.

    Thanks for your help

    Jay

    ↓ Quote | Posted May 9, 2007, 11:54 am

  6. Peter Fragalles (subscribed to comments) says:

    I like the TTM squeeze indicator,

    but i am still not sure which indicator is the safest for day trading.
    another one that is promissing is ths scalper buys and sell indicator:
    http://www.traderslaboratory.com/forums/f46/scalper-buys-sell-replica-2124.html

    is there an easy way to convert the tradestation source code to quotetracker format?

    btw do you use automated trading yourself and if yes what indicator and instrument can you recommend in these volatile markets?

    is it wise to trade just the major indices or better to look for stocks/options that outperform the indices in the morning so that in the afternoon a move in the market will cause more movement on the instrument that outperforms the most?

    cheers
    peter

    ↓ Quote | Posted August 21, 2007, 7:21 pm

  7. boogster says:

    No easy way to convert from tradestation to quotetracker.

    I am no longer using the automated trading system because, in my opinion, it will not work consistently.

    you can trade whatever you want. Some people are better with stocks and options vs. index futures and vice versa. The important thing is that you figure out what you’re best at, then go with it…

    ↓ Quote | Posted August 21, 2007, 11:18 pm

  8. brian (subscribed to comments) says:

    I’d be interested in hearing more about your automated trading opinions. I read your creation of the system just last night, and found it interesting. Now you feel that it won’t work consistently. Would you mind elaborating (or perhaps point me to some posts where you’ve already detailed your experiences)?

    thanks,
    brian

    ↓ Quote | Posted August 30, 2007, 12:36 am

  9. yogita (subscribed to comments) says:

    This is fantastic. Has anyone tried writing an afl for Amibroker, using these details for the Squeeze, and if so, can the afl be shared?

    ↓ Quote | Posted September 11, 2007, 1:21 am

  10. Chukked (subscribed to comments) says:

    fantastic…
    I have setup TTM Squeeze in QuoteTracker successfully.

    Thanks a lot…Boogster

    Please share more indicators :)

    (Tp detect trend i am using currently FCharts EMA-8, EMA-13, EMA-21)

    ↓ Quote | Posted August 9, 2008, 8:14 am

  11. Another Brian (subscribed to comments) says:

    Check blog.tipster.ca for afl TTM squeeze code

    ↓ Quote | Posted September 17, 2008, 9:55 pm

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