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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: 1395 times

Comments/ratings

tcwairoa December 31st, 2018 03:56 PM

Nice work Bob, many thanks. Try Alligators new indie alongside, mah Dual Candle.

SDR2014BMT January 1st, 2019 10:47 AM

No Comment

gwcl0513 January 3rd, 2019 05:13 AM

Thanks for the great work! So this indicator does not work in real time?

contrax January 4th, 2019 02:14 AM

Hello, Thank you for the indicator.. i have a question:

Im trying to edit the code for set the "BOX" Auto Scale: False... but i dont find it. Can you help me?

5 stars.. this is very powerful Price Action indicator. (Obviously if u know how to use it... dont sell if is red, or buy if is green..)

Thank you.

jorge333 January 4th, 2019 09:51 AM

Excellent work, but it gets stuck; suddenly the chart screen remains fixed, without moving. I hope it is solved because it is a great indicator. Use ninja 8

topdogtony January 20th, 2019 12:17 AM

trying this out on ym 10 range will see how it works thank you very much its awesome if it performs per stated.

Mberg January 20th, 2019 01:12 PM

Thanks, gonna try it out to see if it works for zone trading

Maxie February 20th, 2019 04:04 AM

a good indicator,
just like the timeslot! Thank you for your work

topdogtony March 10th, 2019 12:15 AM

I think you have done a fantastic job here, I am trying it out in sim with great results, I hope that you can one day compile a strategy based on this indicator thank you.

Truly,
Tony Dooda

RobertGrover April 10th, 2019 03:09 PM

No Comment

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