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This thread is about session indicators and how to trade them.
I have coded quite a few indicators for NinjaTrader, which I would like to explain, and for which I do regular updates. So far I have posted in various threads to discuss their features …
As I have explained in post #1, I would like to keep the session indicators out of this thread, because the subject is too complex.
Here is an updated version of the MACDUniversal. There are 29 different moving averages that can be selected as fast MA, slow MA or for calculating the signal line. The indicator also comes with a trend filter, which has three different states
bullish trend: MACD > 0 and histogram > 0 bearish trend: MACD < 0 and histogram < 0
neutral trend: all other cases
This is still an experimental version. I have added the Tillson T3 indicator today.
I had originally coded a little indicator that I had called Narrow Range Bars. I have now updated that indicator to include inside bars, double inside bars, wide range bars, outside bars and triangles.
Three bar triangle (LBR): a bar which lies inside the combined range of the prior two bars
Other pattern:
Double inside bar (DI4): an inside bar that is preceded by an inside bar and which has a smaller range than the prededing 4 bars
The indicator allwos to display each of the patterns listed above. To detect simple inside bars, please set the parameter "Lookback inside bars" to 2, and it will show all inside bars. The same applies to double inside bars. For simple outside bars set the parameter "Lookback outside bars" to 2. The indicator allows to show the patterns in detail by adding the appropriate text labels. Alternatively, diamonds can be used. The indicator further comes with a paintbar option and sound alerts. Narrow range and inside bars can only be detected after the bar close, while wide range and outside bars will be detected intra-bar, if the indicator is set to COBC = false.
Please do not use all features of the indicator at the same time, it would be simply confusing, see chart below:
Example 1: Use the indicator to detect narrow range and inside bars.
Example 2: Use the indicator to detect wide range and outside bars.
Example 3: Use the indicator to detect LBR three bar triangles.
I've not used the NT Market Analyzer much other than to monitor inter-markets, is this something that you could use as an indicator on a basket of futures contracts in the analyzer to alert when these conditions are met? would this be practical?
The conditions "inside bar", "narrow range bar", "outside bar", "wide range bar", "double inside bar" are exposed via public BoolSeries. Unfortunately, the market analyzer cannot access public BoolSeries. Therefore a modification of the indicator is required, if you want to access it via the market analyzer. The simplest solution would be to add a few transparent plots that take the value "1" when the boolean is true and "0", when the Boolean is false. The market analyzer can access those plots.
This is a widely used FOREX indicator. It is a linear, infinite impulse response filter, and its main use is to determine the trend. The trend state is based on the slope of the indicator.
I have used the same logic for determining the slope as I had for the Bollinger and Keltner Universal indicators. The trend definition is based on three trend states rising, neutral (flat) and falling. The range of slopes that are considered as flat can be adjusted via the threshold parameter.