I've been a fan of Better Renko bars for several years now and was looking for a way to identify when a Wick or a Tail on a Better Renko bar was larger than the setting I had chosen.
Eg., Using a 4 Better Renko bar setting on the ES and looking for Wicks or Tails that were 5 ticks or greater.
This little indicator will do that for you. It simply draws an Arrow symbol above or below the corresponding Wick or Tail.
When I trade the NQ I prefer a 3 Better Renko bar, I use the irWicksandTails indicator to highlight 4 tick Wicks or Tails.
I don't use them for trade entries, I just note when they start to show up and rely on their presence to help me discern a "short term" trend bias.
This indicator is for NT-8, and was compiled with Version 8.0.17.2 64 Bit
Category NinjaTrader 8 Indicators and More
|
|
|