NR4/IB indicator?

[achung]

Hello there,

Does the following indicator currently exist?:
- paint an inside bar that also has the smallest range of the last four bars (i.e. narrow range of 4, inside bar)

Thanks.
Andrew

[NinjaTrader_Bertrand]

Hello there,

Does the following indicator currently exist?:
- paint an inside bar that also has the smallest range of the last four bars (i.e. narrow range of 4, inside bar)

Thanks.
Andrew

Hi Andrew,
thanks for your posting, I will create your proposed indicator as a development exercise.

Take care,
Bertrand

[NinjaTrader_Bertrand]

http://www.ninjatrader-support.com/vb/local_links.php?catid=1&sort=N&pp=15&page=6

Andrew,
the proposed indicator was created and added to our file sharing forum.

We also added a few options to customize it further.

Great trading,
Bertrand

[achung]

Works great Bertrand! Thanks a lot!

[NinjaTrader_Bertrand]

Works great Bertrand! Thanks a lot!

Thanks Andrew, appreciate the feedback!

[NinjaTurtle]

Hello Bertrand,

I just found your Indicator and I would like to ask for some added functionality, if you find the time. As you know the market consists of contraction and expansion. In order to better identify these periods I'd find it very helpful if you could include in your indicator two more parameters: Number of bars/candles and lookback period.

This would enable a trader to easily see the narrowest range from high to low of any x day period relative to any x day period within the previous y bars/candles.

For example a three bar narrow range: That's the narrowest range from high to low of any three day period relative to any three day period within the previous 20 bars/candles.

I hope I'm not the only one who finds this useful and I hope this is an easy one for you. As I said, if you find the time.

[NinjaTurtle]

And I forgot: Personally I'd like it more, if the candles weren't colored but marked with some symbol one can choose. This way it would still be possible to see, if it was an up or down bar, even if it is narrow. Just as an additional option in case somebody still want's the candles colored.

[NinjaTrader_Bertrand]

NinjaTurtle, thanks for the kind feedback, I'll try incorporating this when I find some time...the period to look back could be easily made a user input -

http://www.ninjatrader-support2.com/vb/showthread.php?t=5782

[jtrade]

http://www.ninjatrader-support.com/vb/local_links.php?catid=1&sort=N&pp=15&page=6

Andrew,
the proposed indicator was created and added to our file sharing forum.

We also added a few options to customize it further.

Great trading,
Bertrand

Bertrand - I have been using this excellent indicator recently : thank-you.

May I please request an update : could you make an alternative to display a diamond above the NR* bar, rather than paint it ? This is because I am already painting Inside Bars and I want to show which IBs are also NR4 bars. An optional audio alert would make it even better :) !

Best,

J.

[NinjaTrader_Bertrand]

Thanks for the kind feedback jtrade, will see what I can do.

[jtrade]

'Morning, Bertrand, as I write up my trade journal for this week, I wonder if you have had a chance to look at this code modification yet ?

Have a great weekend.

J.

[NinjaTrader_Bertrand]

Have a great weekend, too JTrade - unfortunately not yet, but on my list.

[Serninja]

http://www.ninjatrader-support.com/vb/local_links.php?catid=1&sort=N&pp=15&page=6

Andrew,
the proposed indicator was created and added to our file sharing forum.

We also added a few options to customize it further.

Great trading,
Bertrand

Hi Bertrand,

thank you very much for your work!

May I ask you (if it isn't too much work for you) to reverse the logic of the above mentioned indicator so that one can also set "Widest Range"?

By using this enhancement one can also look for contraction instead only for expansion.

Thank you very much in advance!

Kind regards,