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Wicks & Tails
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
Details:
Wicks & Tails
Category:
NinjaTrader 8 Indicators and More
May 8th, 2019
Size: 3.55 KB
Downloaded: 954 times
Keywords:
bias
candlestick
patterns
tails
trend
wicks
2065
Botts
View Download Details
September 16th, 2019 03:20 PM
4tison
Good idea and concept
Whence do the arrows appear?
Two-bar behind?
Three-bar behind?
September 16th, 2019 03:16 PM
4tison
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