Vossom 5GL Indicator

Vossom 5GL Indicator
What It Does
This indicator looks for 5GL setups based on the standard rules of the 5GL trade. When a trade is
identified, the system will plot entry, take profit, and stop loss lines on the chart to help the trader know
where to enter and to get out. This is an indicator only, not a bot. It does not place any trades for you.
The indicator also keeps track of trade history and displays the # of successful and failed trades. Keep in
mind that this is not a true back testing engine and the results should not be taken as absolute truth.
The indicator also plots touch counts.
Note that the out of the box settings are roughly the default used for ES. Settings should be adjusted and
tested for each instrument to find the highest probability setups.
The indicator is intended to be used on the 1 minute time frame, with On Bar Close setting.
Basic Logic for Identifying Setups

1. Is the Current Touch Count below the maximum?
2. Did price touch the Gold Line?
3. Does the bar meet the ATR max size requirement?
4. Since the last cross of the Gold Line, has price moved away from the Gold Line “Min Ticks from
GL” value?
5. Has a new Swing High/Low been formed since the last trade or last Touch Count reset?
6. Is the new Swing High/Low in territory that has not been seen by price since “Pivot Lookback”
setting minutes ago?
7. If considering Internal Swings, has price not broken below the most recent internal swing low?
If all these rules are met, the indicator will consider this a trigger and will plot the entry, TP, and SL lines,
and wait for the trade to play out before plotting a new one. The indicator will also fire alerts at this time
if configured.
If the trade has not been triggered, and another bar forms that also touches the Gold Line but has a
lower high (or higher low for short), the entry level will be adjusted.
Settings – Parameters
• Gold Line Length – This is the EMA period of the Gold Line, which is calculated on the 5 minute
bar using my EMA5Minute indicator.
• Red Line Length – This is the SMA period of the Red Line, which is calculated on the 5 minute
bar using my SMA5Minute indicator
• NOTE: The EMA5Minute and SMA5Minute indicators will not be added to your chart as a plot. If
you want to see them, you have to add them separately
• Swing Strength – This is the strength value to use with the Swing indicator, which is used to find
the major pivot points, such as when looking for new pivot highs before taking a long.
• Internal Swing Strength – This is the strength value to use with a secondary Swing indicator,
which is used to find internal pullbacks within a larger move
• Min Ticks from GL – This is the minimum number of ticks that the Low/High of the bar, for
Long/Short triggers respectively, must move away from the Gold Line after a touch count reset
• ATR Length – This is the length value for the ATR indicator
• Max Trigger Bar ATR – This is a multiplier for the ATR which indicates the maximum size a trigger
bar can be based on the current ATR value. Any bar with a total range greater than ATR *
multiplier will be disqualified as a trigger bar.
• Pivot Lookback (Minutes) – This is how far back in time to look for price that is above/below the
current major pivot high/low. If within the time window, price is found which exceeds the most
recent pivot, there is no trade
• Max Touches – This indicates the max # of touches on the 5GL allowed for a trigger to occur
• Extra Touches of f NHOD/NLOD – This indicates the additional max # of touches for a trigger to
occur when price has just retraced from the HOD/LOD.
• First Touch # of bars – After a count reset, how many bars must have a full range above/below
the Gold Line before a touch is counted
• Next Touch Buffer (ticks) – After a touch occurs, price must move away from the Gold Line this
many ticks before another touch is counted
• Ignore Internal Swings – This disables the rule that checks for internal swing breaks.
Settings – Time Windows
This section should be self explanatory. Triggers are only considered within the defined Time Windows.
Settings – Trade Settings
• Take Profit and Stop Loss (ticks) – Indicates the distance from the entry line where the TP/SL
lines will be plotted
• Entry Offset (ticks) – Indicates the # of ticks above/below the entry bar for where to set the
entry
• Take Trades on GL – Indicates if trades should be taken “On the Gold Line” based on the next 2
settings. This is essentially taking the trade immediately.
• GL Trade Close (ticks) – How close to the Gold Line the bar must close for this entry method to
be considered
• GL Trade ATR Multiplier (min) – The range of the bar must be at least the ATR * this multiplier
for this entry method to be considered
Settings – Trade Obstructions
These options will prevent triggers from occurring if any of the selected levels are between the entry and
the TP.
Settings – Display Options
These settings allow different plots within the indicator to be turned on or off.
Debug Log On indicates if the debug output should be printed to the NinjaScript console. The output
within this log will provide details about why a particular trigger was not taken.
Settings – Alerts
The indicator has the ability to alert when a trigger forms. If you want the email alert, you need to setup
your email provider in the Ninja Trader settings. You can find info on Ninja’s website on how to set this
up.
Settings – Brushes and Lines

This allows you to customize all the visual aspects of the indicator

Vossom 5GL Indicator

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Vossom 5GL Indicator

The indicator also plots touch counts.

Basic Logic for Identifying Setups

Settings – Time Windows

Settings – Trade Settings

Settings – Display Options

Settings – Brushes and Lines

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