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CongestionBoxBC

Hello Traders. This indicator looks for a congestion of candles and then a break out. Once the breakout is confirmed, it paints the box up or down and indicates the POC of that congestion box. The indicator is working in real time, but does not paint the box until the breakout is confirmed (2bars). You can change the Box Color if you want to see all of the boxes forming. I find that distracting.

I downloaded the CongestionBox4RNT8 a few months ago and I like the indicator, but there were a few annoying problems. This version fixes the problems that I found in my use.

Fixes:
1. The colors did not stick from startup to startup in the original version...
2. The original consumed a lot of resources, so I set a timer so that it only calculated the boxes during times that matter to the user. This cuts down on the calculations and memory use. You can set the start/stop time to what you want.

R1: Trader Contrax was having problems with autoscaling in his setup. He found what needed to be changed (Thx). Most people will not notice a difference so I edited the indie, left the name the same and just updated the file.

Several traders are having 'freezing' problems. This indie is a resource hog. You want to run as little history as possible with Congestion Box. One trick that I use is to have a transparent chart on the same panel as my main chart. Let's say you have a 5min chart. Add a second 5min chart to the same panel, transparent candles, wicks, etc, with 1 day history. The Congestion Box uses the 1 day chart as its input. You can have several instances of charts on the same panel.. A great NT attribute.

R2: Member jabeztrading, the original developer of the indicator, fixed the issue with the button recurring. This fix also fixed the resource problem. Excellent work!!!

Please let me know if you find any other issues.
Thanks
Bob

Here is the original description...Converted from the NT7 version. Originally design for range bars to box in those congestion areas produced by up and down bars that resulted from the market not going anywhere (it's not perfect).
But some folks had success using the indicator on minute charts.
The box is delayed and the red and green colors are even more delay but this was not meant to be a real time indicator.

Category NinjaTrader 8 Indicators and More

Details: CongestionBoxBC
Category: NinjaTrader 8 Indicators and More

December 31st, 2018
Size: 9.18 KB
Downloaded: 1397 times

Comments/ratings

micasa001 August 8th, 2019 03:17 AM

Hi Bob,

I love this indicator. But I have some problems creating a strategy with this one.

Can you give me some information how to create a:

- Buy order: close hits the green box
- Sell order: close hits the red box

Trying to get this working for days already but don't get this working (not a C# expert...).

Best regards

Bullywig September 27th, 2019 05:17 PM

Is there a way to assign a value to the boxes? For example, 1 for a green box broken to the up side, and -1 for a broken red box to the downside so it can be called in a strategy?

justtrader November 1st, 2019 09:01 AM

Very useful

ZivG May 23rd, 2020 04:40 AM

This is totally awesome. How can we use it in NinjaScript or a strategy? What's the signal that tells us when the box is done forming?

THANK YOU --

Ziv.

naphtalicapital June 28th, 2020 09:17 PM

Bob,

Thanks for the congestion indicator. Really a great job. My concern is that each time the green or red bx appears the price is already moved 4 or 5 points. So it really lagging price. So if you have a 5 choppy ziz zag move, you are out of money 20ticks in each move. Is there a way to adjust the parameters to have the boxes appear sooner? If this can be done, that will be a home run.

thanks

S

zoomie February 12th, 2022 11:35 AM

Very nice...Thank you

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