Feature Request: Parameter to Restart Indicator calculations at Session Start

[David Lean]

Feature Request for v7.0 or future releases.

Feature Request: Add a Ninja Config Parameter to Restart Indicator calculations at the start of each Session. This makes them more suitable for Daytrading markets that don't trade 24 hrs a day.

Example 1
If you plot a SMA(5) thru a big overnight gap between trading sessions it is obvious that there is a period where it is useless for gaining insight. Worse still it forces the automatic Y Axis scale to be huge.
Sure you can adjust your chart to compensate & after 5 periods all is OK.

Suggestion 1: It would be nicer if I had the option to have the SMA show as SMA.Reset to remove it in those useless initial n bars of the session.

Example 2:
Other Indicators are affected for a much longer time period & restartng their calculation is much more effective than making them invisible.

eg: This optional configuration parameter could reset the SAR at the start of a session.
(this concept may also apply to many other indicators)

Welles Wilder's original work on the ParabolicSAR (& all I've seen published since) was using Daily Bars. These are a continuous evenly spaced time period (of trading days). Yes, it also works for any other equally sized periods.

But when Day Trading most markets, the time period from Market Close to next Market Open is huge compared to the typical size of the bars. This often causes the overnight gap to be hugely disruptive. In the case of the SAR it is often so big that it can take 1-3 hrs of 1 min bars before the indicator decays down to the market price & behaves as it was designed. Making it useless if you only trade the active 1st 2 hrs of a market.

Suggestion 2
At session start. Restart the indicator calculation using only the bars from that session.

Yes I realise the workaround to this is to write my own set of indicators. &/or Edit those that ship with Ninja to add this behaviour.

Hope this helps
Dave

[NinjaTrader_Ray]

Thanks for this suggestion although you are a first one. I will add this to our list but as you already pointed out, the best approach right now is to write your indicators in a manner that will reset on first bar of a session.