The general idea was to better clarify both entry and exit points.
So I created a combination Bollinger Bands and Pivot Points indicator, but utilizing the MIN and MAX functions in order to eliminate the smoothing that comes with Bollinger Bands. By doing so market fluctuations are (for me at least) more clearly defined.
Though I mostly use range bars other bar types also work well.
It is not unusual for me to "turn off" the bars themselves by making them transparent. Much less distracting clutter on the screen and I like things simple.
However, early on it is best to leave the bars visible in order to fully understand the various patterns created by the indicator. Whether in chop or a trending market certain patterns quite often become obvious. And those patterns repeat time and time again.
Category NinjaTrader 8 Indicators and More
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