I haven't seen anyone else code this so here is my code. This code lets you input 2 look-back periods for the trend and 1 value for the reversal period. So for example, lets say you want to make sure that the current bar is Higher then 60 bars ago as well as 30 bars ago (2 look-back periods- Slow & Fast), and also the current bar has pulled back 3 bars and is continuing Up on the current bar (Reversal Bar). For this indicator I've used the MAX function so the MAX High or Low is found for the look-back periods. This indicator is an improved version of the original HPT 60min vs 7min trend. If you optimize the look-back periods you may find using a Slow period greater then 60 minutes as best(ie 160 period on 1min bars was found to be better optimal period for the Slow Period). You can play around with the Period settings to see which are best depending on the stock you or futures contract you trade using Ninja's Backtesting and Optimization reports.
(Please NOTE when setting the periods- SLOW PERIOD> FAST PERIOD> REVERSAL BAR or else you will get no arrows.)
I've decided to put all the indicators I make available to you in one folder at Mediafire.
Download HPT's Free NinjaTrader Indicators
The Next indicator I will be giving out is a custom Oscillator with inputs from ADX, BollingerBandwidth, and the CCI.
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