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Range Analysis 5 *
Exported using NT Version 7.0.1000.16

This indicator allows to detect narrow range bars, inside bars, wide range bars, outside bars and triangles. The bar types follow the terminology presented by Toby Crabel in his book "Day Trading With Short Term Price Patterns and Opening Range Breakout". The triangle is a pattern made popular by Linda Bradford Raschke, also see here: https://nexusfi.com/ninjatrader/27847-linda-bradford-raschke-three-bar-triangle.html


These are the patterns that can be identified with the indicator with default settings:

Narrow range bar (NR7): a bar with a smaller range than the prior 6 bars

Narrow range inside bar (IB4): an inside bar with a smaller range than the prior 3 bars

Narrow range inside bar (IB7): an inside bar with a smaller range than the prior 6 bars

Double inside bar (DI4): an inside bar that is preceded by an inside bar and which has a smaller range than the prededing 4 bars

Wide range bar (WR7): a bar with a larger range than the prior 6 bars

Wide range outside bar (OB4): an outside bar with a larger range than the prior 3 bars

Wide range outside bar (OB7): an outside bar with a larger range than the prior 6 bars

Three bar triangle (LBR): a bar which lies inside the combined range of the prior two bars

Each of the patterns above can be selected an unseleceted. It is not recommended to display all the patterns at the same time on an intraday chart. The different patterns can be shown as text, diamonds or paintbars.

Simple inside bars: When the parameter "lookback inside bars" is set to 2, the indicator will detect all inside and double inside bars without taking into account their range size relative to preceding bars.

Simple outside bars: When the parameter "Lookback outside bars" is set to 2, the indicator will detect all outside bars.

The indicator comes with sound files which are part of the zipped file. The sound files can be extracted and copied to the directory C:\program files (x86)\NinjaTrader 7\sounds. The sounds will work with COBC=true and COBC= false. With COBC= false, wide range and outside bars are detected intra-bar, while narrow range, inside bars and triangles are detected after the bar has closed.


Category NinjaTrader 7 Indicators 
 
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Details: Range Analysis
Category: NinjaTrader 7 Indicators 


October 19th, 2013
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Keywords: inside insidebar narrowrange narrowrangebar outside outsidebar triangles widerange widerangebar
Comments/ratings
5 * fourtiwinks October 20th, 2013 08:51 AM
Thanks!
5 * djoyce854 October 21st, 2013 12:10 AM
5 * zohar October 24th, 2013 06:37 AM
thanks
5 * jmsUK January 27th, 2014 01:47 PM
Thanks Fat Tails. Another great piece of work.
5 * tang November 20th, 2014 10:14 PM
Thank you Sir!
5 * JohnS December 11th, 2014 02:18 PM
Thank you! I read this book and was tracking these days on an excel sheet. Now I can just load the indicator. An idea: It would be interesting to add some of the some of the other Special days such as 2-bar & 3-bar narrowest range and bear-bull hook.
5 * rimartin January 28th, 2015 04:52 PM
Thank you
5 * ShaunG February 21st, 2015 10:46 AM
Thanks! In a league of your own! As always much appreciated "Mr Tails"
5 * Maxie September 2nd, 2015 01:18 PM
Thanks, Fat Tails for this great Indicator

Do you think I can apply it to several charts? Or it takes too much memory?

maxie
5 * chrille March 17th, 2017 07:42 AM
Looks like something I could use! Any chance we could have this converted to NT8?

 
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