OmniTrader Professional Forum
OmniLanguage Discussion
Correlation angle System
10 replies, 3234 viewings
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OmniTrader Professional Forum
OmniLanguage Discussion
Correlation angle System
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Last Activity 7/6/2025 3:47 AM 10 replies, 3234 viewings |
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Mel Veteran   Posts: 235 Joined: 3/18/2006  User Profile |
You need to set the period to shorter than the dominant cycle period to get anticipatory signals, a bar or two in advance, eliminating the lag that most cycle trades have. The 14 bar default works well at lea up to a 20 bar domcyc. This is on of the best ways to get start of trend signals I've seen. Not as much lag when you are signaling failure of cycle mode instead of waiting for trend mode to be apparent.  Attached file : eCorrelationAngleSys.txt (3KB - 350 downloads) | ||
| THOMAS HELGET Elite  Posts: 610 Joined: 3/22/2006 Location: BALDWINSVILLE, NEW YORK User Profile |
Thanks for doing this. However, I am a little confused by the statement: "The 14 bar default works well at lea up to a 20 bar domcyc" Could you please clarify that? Thanks, Tom Helget | ||
| LSJ Veteran Posts: 190 Joined: 7/23/2012 Location: Citrus Springs, FL User Profile |
#param "period", 14 #param "cycleOrTrendOrBoth", 1,1,3 'what signals do you want? #param "Plotbars", 260,0,512" Should the "cycleOrTrendOrBoth", 1,1,3 be: "cycleOrTrendOrBoth", 1,2,3? Thanks for furnishing this. I am giving it a try on my charts today and I think it offers some valuable information. | ||
| Jim Dean Sage   Posts: 3433 Joined: 3/13/2006 Location: L'ville, GA User Profile |
1 is default 1 is min slider 3 is max slider So, “1,2,3” would be a default outside of the slider range. | ||
| LSJ Veteran Posts: 190 Joined: 7/23/2012 Location: Citrus Springs, FL User Profile |
Not my strong suit. | ||
| Mel Veteran Posts: 235 Joined: 3/18/2006 User Profile |
The strength of the indicator is that it is much less sensitive to the period than an oscillator would be. Thus, if you are trading a monthly cycle (20 bars), if you set the period to less than that, you overcome the indicator lag and the signals are on time,or as I prefer, early. At 14 bars, you are early on on time for most signals. For oscillators, Ehlers triggers long RSI signals are the line passes down through the 20 line, signaling around three bars early. Especially for shorter period cycles, this is necessary to be profitable. In this indicator, you just reduce the period [Edited by Mel on 6/1/2020 6:34 PM] | ||
| ap·pren·ticeGuru Veteran Posts: 123 Joined: 10/22/2010 Location: Columbia, MD User Profile |
Mel, one tidbit suggestion, is there any way the "Both" option can plot cycles and trend that can be distinguished, i.e., "cycles" plot in dots, while, "trend" plots the signals itself .. something to that effect. Thank You again. | ||
| Mel Veteran Posts: 235 Joined: 3/18/2006 User Profile |
[Edited by Mel on 6/2/2020 4:44 PM] | ||
| ap·pren·ticeGuru Veteran Posts: 123 Joined: 10/22/2010 Location: Columbia, MD User Profile |
On side note, in past, I've needed to distinguish "signals" on the price pane as to which OL System triggered the red/green arrow, since as it stands now, its un-distinguishable. What I am attempting to articulate, in general, and if Nirvana, in their next major OT update, may allow OL system code to plot " long/short signals" in multitude manner, i.e. (color, dots, arrows, etc.) that can separate and allow to distinguish "one System firing from another System as chosen" on the price pane / OT template without having to eyeball below at the Indicator pane. There already is toggle for Strategy Signals to plot on price pane already, so, that would not intervene with OL System signals. Thank You. | ||
| Jim Dean Sage Posts: 3433 Joined: 3/13/2006 Location: L'ville, GA User Profile |
Plotpricetrendline(“BullEntry”, bar, L-ATR()/10, bar, L-ATR/2, Green, 5) … or for shorts: Plotpricetrendline(“BearEntry”, bar, H+ATR()/10, bar, H+ATR/2, Red, 5) Of course you can adjust the ATR divisors to make the dash closer or further, or make it longer or shorter. Adjust the final width to make it fatter or thinner. It depends on how you view your chart (ie 3 mo vs 12 mo or whatever) as to how thick the dash should be. It is possible but tricky to come up with a generic solution that works for all different symbols (volatility, price) and x-axis settings. This is the easy method. If you are using it on a bunch of different symbols and x axis settings, I suggest that you use an input param to define the width, and another one to possibly adjust the heights. PS: I’ve been asking for OLang symbol and alphanumeric plotting for many years. Don’t hold your breath. That’s why I developed this method. [Edited by Jim Dean on 6/3/2020 7:07 AM] | ||
| ap·pren·ticeGuru Veteran Posts: 123 Joined: 10/22/2010 Location: Columbia, MD User Profile |
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