The award-winning NinjaTrader platform consists of over 100 indicators and a number of chart instruments to accommodate all buying and selling kinds and evaluation approaches, together with the Pattern Traces Indicator.
Pattern strains are a useful instrument for merchants of all ranges, serving to to determine market sentiment and key turning factors in creating markets. Pattern strains are usually manually drawn utilizing a line, ray or polygon drawing instrument. Nevertheless, NinjaTrader’s Pattern Traces indicator simplifies pattern identification and attracts them routinely based mostly on consumer inputs. This helps to save lots of time in figuring out present and previous developments.
See how straightforward it’s so as to add the Pattern Traces Indicator to your chart on this quick video!
You may add the Pattern Traces indicator to any NinjaTrader chart in just some easy steps.
- Inside any chart window, right-click and choose “Indicators”.
- Choose “Pattern strains” from the record within the higher left-hand part after which click on “add” beneath.
- Configure the parameters on the suitable, such because the variety of strains displayed in addition to the colour, thickness and magnificence of the strains. The “Energy” subject will decide the sensitivity of the automated pattern detection algorithm.
- As soon as your parameters are configured click on OK.
On the chart above, the present pattern is indicated by an opaque blue line. This can be a pattern line excessive, which relies on a swing excessive adopted by a decrease excessive level. The inverse is true for a pattern low. Relying on the variety of pattern strains you specify throughout the setup of this indicator, earlier pattern strains will seem, however will not be as outstanding scrolling again in time on the chart.
To fine-tune this indicator to your wants, you’ll be able to entry its parameters as soon as extra by merely right-clicking on the chart and choosing Indicators. Pair the Pattern Traces indicator with different technical evaluation instruments, reminiscent of shifting averages and the Relative Energy Index (RSI) to assist inform your technical evaluation in your favourite markets.
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