mholstius Regular  Posts: 76 Joined: 6/15/2011  User Profile | I’m not an Omnilanguage pro… I defer to Jim Dean and all the excellent assistance he’s given so freely on his Tradetight.org site if you want to truly explore the world of Omnilanguage. I know he’d code what I’ll share here much more efficiently than I but… I’ve attached an Omnilanguage system to this post ("MarkCBLsys.txt”) that demonstrates some ways to use CBL - for entries, trailing stops, exits, and trends. If you’re not familiar with using Omnilanguage in OT, you just need to download the attached “MarkCBLsys.txt” and put it in the OT2020 VBA/Systems folder; After that, the file needs to be compiled before it can be used. You can either close and reopen OT to compile it automatically or go to Edit / Omnilanguage / Build / Recompile; After compiling, you can then go to Chart Options /Systems to enable the MarkCBLsys; However, there’s another (better) way to add it to the chart… Right click on the chart and then choose Add System/Omnilanguage/MarkCBLsys; Both ways will accomplish it, but the second way will allow you to repeat the process and load the system more than once (more on why that’s good later). Once loaded, the system gives you 3 options – CBLcount, Signals, & Crossover; CBLcount: the # of bars used in the CBL calculations (1 to 30) Signals: 1 to plot the signals on the chart, 0 for none Crossover: 1 to see the CBL line as it crosses the bars, 0 for a 2-bar delay It’s easier to see the results of modifying each setting… (a picture’s worth a 1,000 words); I use black for my chart backgrounds and have programmed the crossover line to be black in the file. If you use a different background color and like the view without the crossovers, you can adjust the color in lines 39 and 69 of the file to have the CBL match your background color during the crossovers. Here's a link to Jim Dean's excellent post on the different colors available to use in Omnilanguage; http://tradetight.org/forums/thread-view.asp?tid=258&posts=14&highlight=color%20summary&highlightmode=1#M8855 It’s obviously up to you, but I’ve found these OT chart color settings to work well while watching HA bars in real time; Now, back to why it’s helpful to right click on the chart to Add System/Omnilanguage/MarkCBLsys… Doing it this way, we can have more than one instance of the system loaded. When loading the second instance of the system, you’ll get the option to adjust the settings when it first loads – and I’d suggest using 12 / 0 / 0 for two reasons… 1) It makes the plot different, so it’s easier to double left click on the CBL lines to modify the settings. 2) With higher CBLcount numbers and no signals, it makes an interesting Trend Indicator that adjusts to volatility. Doing a double left click on the CBL lines on the chart brings up the settings and allows us to see what happens dynamically on the chart as they’re modified. Try modifying the CBLcount with the signals off to see how it can be used as a trend indicator. Here it is set at CBL(12); Here’s a snag of what it looks like using a system with a CBL(4) with signals - and a second with CBL(12) and no signals as a trend indicator; While my Bash presentation focused on my interest in trading Forex, the CBL can be beneficial with any instrument… Here it is with a daily SPY chart; And with a 1 min SPY chart this past Thursday just after the open; Have fun experimenting to see what works best with whatever you’re trading… Hope this helps – and that the holiday season is good for you! Mark Heads up... I just found out that the "MarkCBLsys.txt" file that was originally attached to this post had an extraneous line added at the end that kept it from compiling. I've just edited and reloaded the file and I hope there's no problem with the current one (as of 16:01 CST). Please let me know if it doesn't compile correctly. Sorry if you downloaded the earlier version - guess Microsoft had some fun with me this morning...??? [Edited by mholstius on 12/15/2019 4:05 PM]  Attached file : 00 Path.png (17KB - 1253 downloads) Attached file : 01 compile.png (40KB - 1209 downloads) Attached file : 02 Chart options.png (24KB - 1227 downloads) Attached file : 03 System Selection.png (229KB - 1268 downloads) Attached file : 04 Options.png (15KB - 1197 downloads) Attached file : 05 Signals On.png (45KB - 1212 downloads) Attached file : 06 Signals Off.png (56KB - 1223 downloads) Attached file : 07 Signals Off Crossover Off.png (55KB - 1219 downloads) Attached file : 08 color settings.png (47KB - 1196 downloads) Attached file : 09 CBL As Trend.png (44KB - 1193 downloads) Attached file : 10 CBL twice.png (81KB - 1211 downloads) Attached file : 11 SPY Daily.png (44KB - 1207 downloads) Attached file : 12 SPY Minute.png (52KB - 1219 downloads) Attached file : MarkCBLsys.txt (2KB - 334 downloads) |
