The TDU price action indicator shows you 2nd entries, failed 2nd entries, and traps as defined by Mack's PATS strategy from priceactiontradingsystem.com
It comes with many extra's like an I advanced order panel, It can tell you how many contracts to trade with its automatic position sizing,
Use the chart buttons to turn things on/off very quickly or to place a buy or sell order. The trading statistics will show your trading results. No matter if you are a beginning or advanced PATS trader this indicator will make your trading easier. By using the signal plots it allows you to write your own PATS automated strategy
1) Realtime PATS 2nd entries & traps
- Draws 2nd entries (long/short) in real-time.
- Shows failed 2nd entries
- Draw the count (0-1).
- Draw 2 legged pullback lines.
- Shows upcoming entries complete with SL/TP and entry points
2) Dynamic position sizing
- Tells you how many contracts you can trade based on the stop loss needed, the positing sizing you choose, and your account.
- Use fixed contracts, fixed dollars, or % of your capital for position sizing.
- Risk the same amount of money on each trade, no matter the stop loss.
3) Key entry point & signal bar filters
The key entry point and signal bar filters allow you to filter out the noise and only show entries at key entry points and/or filter entries with good signal bars.
The indicator will detect all your trend channels and trend lines and will use them to determine the key entry points. Besides that, the EMA 21 is also used for determining key entry points. You can even filter out counter-trend trades!
3) Advanced Order panel
The order panel with its buy up/sell down buttons allows you to quickly place an order for the upcoming 2nd entry.
-Automatic 2nd entry trailing
When you place an order the indicator will automatically move your order entry to the correct entry point (1 tick above/below signal bar) until the order gets filled. When the price moves further then your order will be moved accordingly, always keeping your order entry at the exact correct point
-Automatic stop loss placement
Once a trade is opened the indicator will move your stop loss automatically 1 tick above/below the signal bar
-Dynamic contract scaling
When you place an order you can choose to use the number of contracts from your ATM, or the number of contracts as calculated by the indicator. By letting the indicator determine the number of contracts to trade it will automatically adjust the number of contracts based on the stop loss needed and the position sizing you have chosen.
4) Trade Statistics
- Show trade statistics like winners, losers, profit made
- Enable filters to only show trades on key entry points and with the trend.
- - Session filter to only show trades during the trading session.
- Signal bar filter to only show entries with good signal bars.
5) Signal plots for automated strategy builders
The indicator exports several plots for strategy builders. You can use these plots to build very sophisticated PATS automated strategies.
|SignalLong||1||1st entry long|
|2||2nd entry long|
|StopLossLong||The price for the stop-loss for a 2nd entry long (1 tick below the signal bar|
|ContractsLong||The number of contracts that can be traded for the 2nd entry long (depends on your positing sizing )|
|TrapLong||1||1st Entry trap long
|2||2nd Entry trap long|
||1st entry short|
|-2||2nd entry short|
|StoplossShort||The price for the stop-loss for a 2nd entry short (1 tick above the signal bar)|
||The number of contracts that can be traded for the 2nd entry short (depends on your positing sizing )|
||-1||1st entry trap short|
|-2||2nd entry trap short|
6) Support/Resistance lines.
- Support resistance/lines from the higher timeframes
- Allows you to choose which timeframe to use.
- Choose how many lines to draw to un-clutter your chart. E.g. you can just show the support/resistance lines closest to the current price
- Allows you to choose the level detail of lines.. from only very important lines to less important lines
7) Congestion boxes
- Draws congestion boxes on the chart when the price is consolidating. Consolidation is recognized when multiple candles are overlapping
- Show HH/HL/LL/LH markers on the chart based on Gann swings
- Receive alerts when a 2nd entry occurs or is setting up
- Realtime PATS 2nd entries with traps & failed 2nd entries
- Advanced order panel
- Support/Resistance lines
- Congestion boxes
- HH/LL markers
- Filters to show only trades at key entry points
- Trade Statistics
- Position sizing
- Plots for automated strategy builders
xx-xx-2021 (not released yet)
- Added a new feature that allows users to select the method used for counting legs. You can now choose between Mack's or Al Brooks's style of counting legs.
- You can now change the width & style of the 2LPB lines.
- Horizontal lines are now also used as Key Entry points
- You can now specify the minimum number of contracts to use for a runner which overrules the % contracts used for scalps. This is very useful if the number of contracts calculated is low (like 2 or 3)
- added support for bloodhound/blackbird
- fixed bug where a user-created strategy would not work on a time-based chart
- added show/hide traps button to the toolbar
- Traps now have their own label and arrow
- added alerts for traps
04-01-2021 (2nd release of the day)
- fixed buy/sell buttons were (still) broken
- added congestion button to the toolbar
- reworked congestion boxes. should work better now.
- users can now specify separate colors for longs/shorts
- fixed issue where Plots did not show correct values
- fixed issue buy/sell buttons where broken
- The indicator now shows hidden 2nd entries
- The user can now specify if the toolbar buttons should be left-aligned, or right-aligned within the toolbar
- User can now change the labels & colors for 2ES/2EL/F2EL/F2ES
- Indicator now shows a warning when pressing buy/sell and no ATM is selected
- Added HH/LL button to the toolbar
- Fixed bug when using the ninja trader ATM with leaving pending orders
- Fixed bug that 0-1 where not shown when Show SL/TP was turned off