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MarketRetrace
This indie looks at yesterdays High and Low and todays High and Low. It paints yesterdays High and Low on todays chart, as well as the mid and RMS values of yesterdays High and Low. The RMS values are estimated as 70.7% and 29.3% for a sine wave. It also paints todays High and Low. These values can be interesting turning points. All levels are labeled in the right side margin (I recommend a margin of 100). I posted a similar indie in NT7 called Pivots Plus that was very popular . This one does not have the pivots included, you can add that to the chart. This one does have a button to hide the indie if you want to declutter your chart.
Here is the wiki definition of RMS...
In mathematics and its applications, the root mean square (RMS or rms) is defined as the square root of the mean square (the arithmetic mean of the squares of a set of numbers).[1] The RMS is also known as the quadratic mean[2][3] and is a particular case of the generalized mean with exponent 2. RMS can also be defined for a continuously varying function in terms of an integral of the squares of the instantaneous values during a cycle.
I hope that you find it interesting....
Trade Well...
Bob
Category
NinjaTrader 8 Indicators and More
Details:
MarketRetrace
Category:
NinjaTrader 8 Indicators and More
January 27th, 2021
Size: 5.88 KB
Downloaded: 810 times
Keywords:
high
low
pivots
rms
2305
bobc635
Comments/ratings
SDR2014BMT
January 31st, 2021 04:32 PM
Excellent!
prutrader
February 9th, 2021 09:28 AM
Excellent ..... suggestion to include a settings to show N day High/Low, Thanks
Ganymed
February 10th, 2021 12:23 AM
No Comment
jtrade
February 26th, 2021 08:43 AM
No Comment
pmat
February 26th, 2021 08:48 AM
great job ! thanks for sharing
faithdefender
February 26th, 2021 11:01 AM
No Comment
Buscador
February 26th, 2021 03:23 PM
I appreciate your sharing this indi.
toughtrades
March 3rd, 2021 06:07 AM
Very nice, thx
djdowney
March 4th, 2021 09:26 AM
Thanks. Looks like it will be very useful to me
beepr22
June 7th, 2021 09:06 PM
Nice to have, Thank you.
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