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MarketRetrace

This indie looks at yesterdays High and Low and todays High and Low. It paints yesterdays High and Low on todays chart, as well as the mid and RMS values of yesterdays High and Low. The RMS values are estimated as 70.7% and 29.3% for a sine wave. It also paints todays High and Low. These values can be interesting turning points. All levels are labeled in the right side margin (I recommend a margin of 100). I posted a similar indie in NT7 called Pivots Plus that was very popular . This one does not have the pivots included, you can add that to the chart. This one does have a button to hide the indie if you want to declutter your chart.

Here is the wiki definition of RMS...
In mathematics and its applications, the root mean square (RMS or rms) is defined as the square root of the mean square (the arithmetic mean of the squares of a set of numbers).[1] The RMS is also known as the quadratic mean[2][3] and is a particular case of the generalized mean with exponent 2. RMS can also be defined for a continuously varying function in terms of an integral of the squares of the instantaneous values during a cycle.

I hope that you find it interesting....

Trade Well...
Bob

Category NinjaTrader 8 Indicators and More

Details: MarketRetrace
Category: NinjaTrader 8 Indicators and More

January 27th, 2021
Size: 5.88 KB
Downloaded: 798 times

Keywords: high low pivots rms

Comments/ratings

SDR2014BMT January 31st, 2021 04:32 PM

Excellent!

prutrader February 9th, 2021 09:28 AM

Excellent ..... suggestion to include a settings to show N day High/Low, Thanks

Ganymed February 10th, 2021 12:23 AM

No Comment

jtrade February 26th, 2021 08:43 AM

No Comment

pmat February 26th, 2021 08:48 AM

great job ! thanks for sharing

faithdefender February 26th, 2021 11:01 AM

No Comment

Buscador February 26th, 2021 03:23 PM

I appreciate your sharing this indi.

toughtrades March 3rd, 2021 06:07 AM

Very nice, thx

djdowney March 4th, 2021 09:26 AM

Thanks. Looks like it will be very useful to me

beepr22 June 7th, 2021 09:06 PM

Nice to have, Thank you.

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