This is potentially our most ambitious indicator and works as a full trading system. The indicator provides use cases for trending, breakout trades, range-bound market identification and counter-trend trade setups. Fibonacci extensions and a proprietary trading range derived from a higher time-frame make up the indicator. In addition, we have built in a state-of-art alerting system including custom audio alerts and email notifications.
Utilizing a Higher time frame, key levels are identified to display an expanding or contracting trading range, thereby giving the trader a view as to how volatility is impacting the chosen market. A trading range is identified and a bullish or bearish trend bias is provided given price levels in relation to the key levels.
Fibonacci extensions are calculated from the top and bottom of the range. These are extremely important levels and provide key support and resistance levels and potential high probability counter-trend trade setups.
The indicator includes custom audio alerts as well as email alerts, and full user-functionality in controlling plot coloring and alerting.
Higher time-frame Use Cases:
-Hourly Chart using Daily Time Frame
-5 minute using 240 Min Time Frame
-Daily using Monthly Time Frame
*Indicator for NinjaTrader 8 only. Can be converted to NinjaTrader 7 for an additional fee.