hey ken doubleU and Tymen,
during my spare time I want to learn CTL language in hope someday I can do my custom additions to Dealbook but I don’t know where to start.
Could you please point me out a reliable source of information about this? any books, webpages or wathever I can use. I’m sure my father could help me with this being a good programmer himself so why not take this advantage? 
Thank you in advance!
I have now incorporated[B] Ken DoubleU’s [/B]modifications into my final slopemeter code.
I had to re-insert the zeroline code because the computer would not draw the zeroline at all.
[B]The final code in CTL format for GFT is given below…[/B]
indicator AA_BB_slope_meter ;
input pipdiff = 3;
draw zeroline(“zeroline”, solid_line, black,2),
entry_long(“long”, solid_line, green,2),
entry_short(“short”, solid_line, red,2),
res(“slopemeter”, solid_line, blue,2);
vars i(number),avg(series);
begin
zeroline := makeseries (front(close), back(close), 0);
entry_long := makeseries (front(close), back(close), 0.0001 * pipdiff );
entry_short := makeseries (front(close), back(close), -0.0001 * pipdiff );
avg := sma(close,20);
for i := front(close) + 20 + 1 to back(close) do
res[i] := avg[i] - avg[i-1];
end.
I now invite either [B]IronHeart [/B]or [B]Ken DoubleU[/B] to translate this into MT4 code.
([B]DodgeV83 [/B]or [B]Merchantprince [/B]can also do this if they can and so wish to do - but I am not certain of everyone’s particular skills).
[B]Ken DoubleU[/B] can give you the best answer.
As you can see, I learnt some CTL from the Chart Studio that is supplied with the Dealbook program.
In the Chart Studio I go to the help menu.
Ok, I can do this after my meeting, which is happening in around 5 hours from now.
May I please be sent an image showing what the indicator is supposed to look like on a chart? It would be good to have as a reference.
Thanks!
[B]Please read the following post carefully - it is important!![/B]
[B]Now what is the purpose of this indicator in the Ultimate BB Profit grabber?[/B]
Well, when a BB bubble/sausage occurs, [U]the mid BB changes slope sharply[/U].
At the same time, the price action develops candles that pass thro the outer BB.
We have used this as an entry signal.
But this as a signal to enter [U]is not always reliable[/U] and at these points the mid BB slope is not steep enough. :eek:
[B]Furthermore, there are times when all of the 3 BB start to go up or down at the same time.[/B]
That is, they stay parallel.
In these cases, the price action walks the BB, giving a great trade - [U]but we [/U][U]cannot enter[/U] because there is no BB expansion (BB expanding outwards in opposite directions.). :eek:
Remember that one of the 7 entry rules is that we see the outer BB expanding.
Such trades have great profit potential and we miss out on these with the present 7 rules.
[B]So the slopemeter comes to the rescue!![/B]
I have measured the required slope of the mid BB of being at least 3 pips/candle and preferably 4 pips/candle for a 15 min chart.
I will still have to check what it is for other timeframes.
I suspect that they are connected by a “squares” or “square root” formula.
If that is the case, I will need to use some semi-logarithmic graph paper (which I have), to plot the correct values and establish the equation joining the timeframes.
When this is done, we can fill in the needed values for every timeframe.
[B]To sum up[/B]…
[B]The slopemeter provides an accurate signal as to when to enter a bubble/sausage.[/B]
Coming up in the next posts!!
[/IMG]
:) So I finally did it, this is my first attemt to draw a CBL, using one candle rule. I just exit the trade without any rule of exit this time. It will come later.
Can any of the skilled traders here confirm if I got this right or wrong.
Many thanks.
Now here is an example of how the Slopemeter indicator works…
(yes I do hate indicators and if you can do this by eye, so much the better).
Lets look at a BB bubble >>>
This bubble shows a beautiful price action walk on the upper band.
The PSAR is shown.
The close of Candle B is the exit candle (stoploss extension on inverted PSAR).
However, if you can see that the price action is clearly depicting a bubble and not a sausage, then the close of the first disconnected candle (candle A) is often the best exit.
Lets now look at the slopemeter in action…
Here is the slopemeter on the same chart >>>
The slopemeter line is in blue and there is a green horizontal line at 3 pips difference between the BB at candle intervals.
The line is very jagged and is meant to be that way.
Under no circumstances do we smooth it for convenience - it would then lag and will be effectively useless.
If we look at where the blue line crosses this green line, we see the entry signal at candle S.
It is 2 candles earlier than the entry signal given by the 7 entry rules in the DNA shortcut method.
But our entry is still at candle E because here the price action drops down thro the 1.5 BB as you can see.
The exits A (simple exit method) and B (PSAR/mid BB) are shown.
But now we also have a new exit lining up with the slopemeter dropping back thro the green 3 pips line.
This exit is candle C.
Now candle A is the best exit, followed by…candle C!! - not candle B as expected!! :o
The slopemeter can also give exit signals as well as safer entry signals.
We now look at a case where the slopemeter saves us a lot of heartaches!! >>>
Here we appear to have a good BB walk trade.
The BB expand after the blue line, giving the signal to enter short.
There is heaps of good potential for a short entry as shown by E, the entry point when the price action passes thro the 1.5 BB.
A 2nd contract entered here would improve on this entry.
And so the trade moves on into profit. 
I have not loaded the PSAR for clarity.
Now where is this trade going? 
We need an exit point.
Lets look at the next post.
Definitely worth bolding this text. Any such technique would be worth it’s weight in gold, essentially a license to print money! :eek:
Oh - horror of horrors!! >>>
What a mess!! :eek:
No clarity at all. 
Look at that horror candle with the price action going nearly to the upper BB.
Just where do we put a stop loss in this mess?
This is a price action area that is a dogs breakfast and one which we should avoid!!
[B]So how do we avoid it?
Next post[/B].
Here is the slopemeter in action on that trade >>>
The blue line is the slopemeter line.
The black line is the zero line - no slope here at all.
The green line is the sufficient line for entering long.
The red line is the sufficient line for entering short.
Note how the blue line has not come anywhere near the red horizontal line.
There is no sign of a crossing whatsoever.
The slope of the mid BB is simply too shallow to indicate a good rolling BB walk trade!! 
The slopemeter tells you this!!
So we do not enter or even entertain the idea of a trade in this area!! 
Impressive work Tymen.
I wish I knew how to program, I’ve spent some time looking at the CTL but it’s all Greek to me.
I have this indicator loaded up already, and there is one thing I have found. There seems to be a glitch on the XXX/JPY pairs, maybe something with .000 pips instead of .00000
I can already see this being a great benefit.
I have now to discover what the pip differences are for the mid BB in other timeframes.
This will take a bit of experimentation and graphical work involving mathematics.
We will see how it goes. 
Don’t worry Jeff.
You just get the money, I will do the programming. 
I have this indicator loaded up already, and there is one thing I have found. There seems to be a glitch on the XXX/JPY pairs, maybe something with .000 pips instead of .00000
Ah yes!!
I noted that, then I forgot about it. :o
This problem is easily solved, it has to do with the different prices.
The indicator allows for adjustment in the pip differences.
I can already see this being a great benefit.
I hope it keeps traders out of dangerous areas!!
Tymen
I am pleased to have been able to help in some way, by going through your code for the slope meter. I am not sure if I deserve to be listed with Merchantprince; DodgeV83 and IronHeart as an expert . I am sure that I am nowhere near their standard when it comes to programming, but have some basic knowledge of programming in CTL.
This knowledge is all self-taught over the past 12 months and being my seventh decade does not come easy! I have spent hours and hours and hours puzzling over the code and how it works. I usually get there in the end with sheer perseverance. So I imagine a younger person would leave me miles behind.
I am unable to help when it comes to translating this code for MT4, as I know nothing about this, but note that IronHeart has kindly offered to help.
That was an oddity in that my code for the zero line did not work for you, though it worked perfectly on my PC!
The application of your slope meter indicator is looking very good for being able to determine good entry and exit signals. Excellent well done.
Ken
Aserat
I can only say that the information I have is that that is included on the help menu of ChartStudio: part of the DealBook installation. I do not know of any publication that is available to help. As Tymen found, some of the coding is not fully explained in the help menu and it is by trying the code out that you find the wrinkles.
best of luck
Ken
At first glance the value for the pip difference on the Japanese pairs could be changed from 3 to 100.
Upon looking further, I also do not recommend using the slopemeter for an exit device.
The exit signal comes in much too late in most cases.
Instead use the tried and proven PSAR/mid BB exit method or else use the simple exit method if you know you are dealing with a bubble.
Yes I set it to 300 and it looks normal
